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RRAVES presentation
1) The document summarizes findings from the Wharton Future of Advertising Program regarding consumer engagement in 2020. It identifies key trends in consumer behavior and expectations, including personalization, choice, value, communities, and multi-channel access. 2) To effectively engage consumers in 2020, all advertising and offerings will need to be relevant, respectful, actionable, valued, exciting/experiential, and feature surprising stories. Technology will be key to delivering these across all touchpoints. 3) These consumer engagement insights also apply to engaging students. Technology can play a major role, as evidenced by increased engagement levels with multiple devices at the London Olympics. This suggests implications for revising pedagogical
RRAVES presentation
- 1. Student Engagement and Technology Yoram(Jerry) Wind The Lauder Professor and Professor of Marketing Director, SEI Center for Advanced Studies in Management Academic Director, Future of Advertising Program Academic Director, Wharton Fellows Program windj@wharton.upenn.edu Engaging Students Through Technology Symposium University of Pennsylvania Libraries November 1, 2013 1
- 2. Objective 1. Present therecent findings of the Wharton Future of Advertising Program re: consumer engagement 2. Discuss the implications of the findings as guidelines for enhancing student engagements 3. Jointly explore the role of technology in engaging students and identify the implications to our pedagogical approaches 2
- 3. I. What DoWe Know About Consumer Engagement? The Findings of Advertising 2020 What could/should “advertising” look like in 2020? “Advertising” 2020 Project What should we do NOW to get ready for that future? 3
- 4. Rock Star Status NobelPeace Prizes Who are these winners? 4
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- 6. Representing all globalregions… 6
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- 10. The 2020 Scenarios TheChanging Market (Demand) Passive Consumers Evolving Delivery (Supply) (At and With People) 10 Empowered and Skeptical Consumers (With and For People) Dynamic Ecosystems & Orchestrators Traditional Advertiser – Agency – Media Model III. Engaged Product, Brand and Campaign-Centric IV. Design the needed transformation of the organizational architecture Relevant & Respectful Actionable Valued Exciting Experiential Surprising Story I. Advertiser-Centric Interruption and Persuasion II. Empowered Interactive Messages, Multiple Media ...Other scenarios
- 11. The Changing Consumer Dynamics Dynamic Segments Convergingon Customerization and Personalization: Make it mine Converging on Choice: Give me tools to make better decisions Converging on Competitive Value: Give me more for my money Converging on Communities: Let me be a part of it Converging on Channels: I want to call, click and visit Source: Wind and Mahajan, Convergence Marketing, Financial Times/Prentice Hall, 2001 New Consumer Demands New Relationship WARC September 18, 2013 11
- 12. The Advances inScience and Technology Retail Technology New Media Dedicate a portion of the budget to trying new technologies and 12 applying breaking science insights.
- 13. To be Effective… AllFirms’ Advertising and Offerings need to be: RELEVANT & RESPECTFUL ACTIONABLE VALUED EXCITING EXPERIENTIAL SURPRISING STORY 13
- 14. elevant & espectful • Tothe person …at that time, place, mood • To the media platform • To surrounding content • To the device • To the brand • To the world ... 14
- 15. elevant & espectful Gatorade +Pandora 15
- 16. ctionable Opt-In, Opt- Out, Download,Tag, Rate, Try, Buy, Borrow, Watch, Respond, Recommend, Explore, Share, Join, Remind, Schedule Request, Save Co-Create . . . 16
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- 18. alued Cognitive – Appreciated, Informative –Important to Me – Solves my Problems . . . Emotional – Makes my Life Better – Identity and Self-Worth – Positive Psychological Impact . . . 18
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- 20. xciting xperiential Forrester CustomerExperience Study Source: “Customer Experience Affects Your Bottom Line.” Forrester. Forrester Research Inc. 2013 20
- 21. xciting xperiential Tiger EnergyPlayground 21
- 22. urprising tory • Thecentrality of a story • Distinctiveness • Intriguing content that fosters imagination • Surprise 22
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- 24. Are you deliveringRAVES through all touch points? Interactive TV/SMS-TV Video Games/Virtual World HDTV DVR Social Networking Adblock Plus All Touch Points Blogs & Discussion Forums Street Events Newspapers & Magazines Electronic Billboards Computers iPad PDA Podcast Word of Mouth Product Demonstration iPod MP3 Satellite Radio iPhone Movies Cell phone ATM Web 2.0 24
- 25. II. What arethe implications of the consumer engagement findings to students? RELEVANT & RESPECTFUL ACTIONABLE VALUED EXCITING EXPERIENTIAL Delivered SURPRISING STORY Through All Touch Points! 25
- 26. II. What isthe role of technology in engaging students? The Lesson of the London Olympics TV What are the implications to our pedagogical approaches? 4.9hrs TV & Laptop 5.18hrs TV, Laptop & Smartphone 6.50hrs TV, Laptop, Smartphone & Tablet 8.26hrs 26
- 27. Action Plans What shouldwe do differently as a result of our session? 27
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