The Future of Digital Marketing for Higher Education
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Kurt Holstein is one of the most experienced and thoughtful digital marketing executives. He is painting a vivid picture at the INTEAD Global Marketing Workshop in New York of what effective personalized digital marketing looks like and shows great examples. He also gives a glimpse of the future capabilities and delivery channels of digital marketing.
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The Future of Digital Marketing for Higher Education
- 1. The Digital & Social Marke2ng Environment or How we lost the funnel! June 20, 2014 Global Marketing Workshop for Academic Leaders June 18–20, 2014 • SUNY Global Center • New York City
- 2. Introduc)on • Kurt Holstein President Azoic Ventures – Cornell ’82 Opera2ons Research & Industrial Engineering – Spent 16 years at P&G in Brand Management before leaving to start RoseOa in 1998 – Grew RoseOa from two employees to one of the top 5 digital agencies in the US with 1,200+ Employees – Sold RoseOa to Publicis in July 2011 for $575mm – Re2red for 3 months…was bored out of my mind – Started Azoic Ventures in Nov 2011 as an early stage venture fund. 11 investments to date – Also the Marke2ng Services Advisor to AEA Investors, one of the oldest PE firms in NYC with $7.2B under management
- 3. What We’ll Cover Today 1) Discuss how digital ini2ally changed marke2ng 2) Consumer expecta2ons in a digital and social marke2ng environment 3) How mobile and tablet devices are changing the user experience 4) Where we are headed next
- 4. UNDERSTAND HOW DIGITAL HAS CHANGED MARKETING & ADVERTISING
- 5. Wow..That’s Really Old 1979 -‐ Apple II Introduced by Steve Job’s & Wosniack 1981 -‐ IBM introduces it’s first PC 1983 -‐ First Compaq “PORTABLE” 1982 Kurt Starts as an Assistant Brand manager at P&G
- 6. Marke)ng 33.3% GP 33.3% COGS 33.3% % of Net Income Tradi)onal CPG Brand Economics 0% 20% 40% 60% 80% 100% 50% 10% 40% Promo2on Print/Radio TV Marke2ng investments and programs were simple and narrowly defined % of Marke2ng Spend
- 7. • Search (SEO/SEM) • Banner Ads • Email lists • e-‐Commerce Sites • Microsites • Blogs • IM Bots • Personalized DM • Desktop Widgets • Toolbars • Template-‐driven emails • Online Points Prgms Web 1.0 Advances in digital technology changed the way people interact with and experience a brand (late 1990’s – early 2000’s) Awareness & Acquisi)on Engagement & Conversion Consumer Rela)onship & Loyalty Marke)ng Digitally Enabled “Top Down” Approach Tradi2onal Print, TV, PR and Radio Ads FSCIs, Circulars, POS, Catalogs and Call Centers Direct Mail, email, Frequent Shopper Cards
- 8. Digital Marke)ng Tac)cs Evolved Quickly through 2010 Very rapid evolution from static “One Size Fits All” to dynamic digital marketing tool Search • SEM keywords • Keyword Op2miza2on • AOribu2on Models • Image search • Video in search Web sites • Sta2c web pages • Forums • News groups • html • Dynamic Web pages • Web services • Rich Internet Applica2ons • Apps/Online Tools Email • Image-‐based sta2c emails • Template, decision rule driven dynamic emails • Image rich/video embedded Ad Banners • Flat sta2c banner ads • Rich media ads • Real Time Bidding Web 1.0 Web 2.0Tactics:
- 9. Community Web 3.0: Web 3.0 Social Communi2es are the New Major Marke2ng Channel
- 10. (percentages may not total 100% because of rounding) Decrease Increase Stay the same Social media Mobile Online video Game marke2ng Email Sta2c display ads Direct mail Radio Outdoor Magazines Telemarke2ng Yellow pages Newspapers 86% 11% 4% 84% 13% 3% 83% 15% 2% 83% 13% 4% 78% 19% 3% 73% 17% 11% 62% 23% 15% 21% 37% 42% 18% 41% 41% 16% 49% 35% 15% 59% 26% 11% 49% 40% 11% 37% 53% 8% 29% 64% 6% 33% 61% Search engine marke2ng Interac2ve display ads Increasing effec2veness Declining effec2veness Tradi)onal Interac)ve Source: Forrester Research US Interac2ve Marketer Online Survey n=235 Marketers Social Media and other interactive marketing channels are expected to show the greatest increase in marketing effectiveness over the next 3 years. Market Dynamic
- 11. CONSUMERS EXPECTATIONS in a DIGITAL & SOCIAL ENVIRONMENT
- 12. • Is your program personalized for your audience based on their preferences? Personalized • Does your program engage and add value to your audience? Engaging • Are you leveraging digital technologies for real-‐2me communica2ons and connec2ons with your brand? Real Time • Do you allow your audience to par2cipate in and contribute to marke2ng ac2vi2es? Par2cipatory • Are you providing value and u2lity to your audience beyond your product aOributes? Useful 5 Ways To Be Compe22ve within Digital Marke2ng
- 13. PERSONALIZED, REAL TIME, TECHNOLOGY ENABLED, HELPFUL Domino’s shows you the real-‐2me status of your custom built pizza, from order to delivery
- 14. PERSONALIZED, REAL TIME, TECHNOLOGY ENABLED, HELPFUL Domino’s shows you the real-‐2me status of your custom built pizza, from order to delivery
- 15. PARTICIPATORY
- 16. PARTICIPATORY
- 19. Personalized Engaging Real Time Par)cipatory Useful ü ü ü ? ü REAL TIME, PRODUCT PERSONALIZATION TOOL www.mykleenextissue.com
- 20. www.shaveeverywhere.com became the #1 seller in Personal Grooming category on Amazon.com for the first two months aver campaign launch. ENTERTAINING?
- 21. • Does your program align itself with a philanthropic purpose and invite your audience to give back to a larger cause? Socially Conscious • How are you using digital technologies to help service your audience needs? Helpful • Does your program allow for interac2ons between your audience and their community? Social Interac2ons • How does your marke2ng program influence the product development process? Product Development • Your audience will pay for good content, are you providing it to them? Content 5 Ways To Be Compe22ve in Social Marke2ng
- 22. Within 48 hours of the Haiti earthquake the app was built and available REAL TIME
- 23. The Obama campaign in 2008 generated a massive stream of mo2va2ng, engaging content that they successfully distributed across email and social media plaxorms; YouTube, TwiOer and Facebook and their own websites SOCIAL – CONTENT is KEY!
- 24. By the 2012 campaign in 2012 Obama used Facebook as it’s primary plaxorm to engage volunteers SOCIAL – CONTENT is KEY!
- 25. The engagement results were DRAMATICALLY different! SOCIAL – CONTENT is KEY!
- 26. Obama averaged almost 20mm YouTube views over 4 weeks leading up to the elec2on and WON with only 61mm total votes SOCIAL – CONTENT is KEY!
- 27. Goal: Help BOTH the Consumer (save money) and the Brand (make money) PERSONALIZED, HELPFUL AND PROFITABLE!
- 28. Engaging Real Time Par)cipatory Useful ü ü ü ü Personalized ü PERSONALIZED, REAL TIME, HELPFUL
- 29. HOW MOBILE & TABLETS DEVICES ARE CHANGING THE USER EXPERIENCE
- 30. The Mobile Explosion Consumer mobile device penetration increased 10x in the last two years -- Manhattan Research 2013 The year when the number of Mobile internet users SURPASSED the number of Desktop internet users. --"Internet Trends," Morgan Stanley.
- 31. US Smartphone Adop2on is Entering the Late Majority Phase source: Horace Dediu. Asymco
- 32. Size Really Does MaXer!
- 34. Where are we Headed? Wearable technology that extend the reach of brand marke2ng and interac2ons to your body
- 41. Final Thoughts
- 42. CO NFI DEN DILBERT BY SCOTT ADAMS Final Thoughts?
- 43. Technology will con2nue to change our lives
- 44. The Future will be very cool!