The new reality of marketing is that it's more than strategy, analytics and tactics. But how do we define and encapsulate marketing in the age of real-time analytics, mobile, social and viral strategies and tactics. Our information highway has become a twisting, turning toll way that will take more than a GPS to navigate.
Let's explore the new realities of marketing in this interactive session because like Dorothy and Toto, we're not in Kansas anymore.
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The New Reality of Marketing
1. The New Reality of Marketing
Bart Foreman
Group 3 Marketing
Wayzata, MN
www.group3marketing.com
2. An introduction
Group 3 Marketing
• Founded in 1988
• Pioneer in database and
loyalty Marketing
• Full service marketing
agency focusing on helping
specialty retailers and B2B
marketers maximize their
marketing (and sales)
growth potential
3. Three Truths
Change is Change is You can’t
inevitable constant keep up
• It always • It always • But you can
has been has been and manage the
(From Gutenberg will be process and we
to Zuckerberg) can help
9. Takeaway #2: It’s Complicated – It’s Personal
Marketing’s four primary
challenges in 2012
• Determine what motivates consumers
to buy in our categories
• How to build the story
• How to deliver the story
• How to prove the business case –
measuring results
10. Why Marketing Channels Matter
They do different things
to influence the next sale
• Website
They are ALL important • E-mail
• Mobile & Social Marketing
• E-commerce
• Direct Mail
• Mass Media
They meet specific They meet the customer
marketing needs where she or he wants to
• Acquisition be met
• Retention • It’s a complicated marketplace
• Growth • It’s personal
• Defections
11. Database Driven – Now it gets personal
Data mining is the cornerstone of brand
and store marketing campaigns
POS system tracks customers’
store sales
Every customer is tracked based on total
sales, brand sales and SKU sales
• Every customer has an RFM and decile ranking
• Marketing knows the value of every customer
Promotions are created based on the
insights we learn from sales data
12. Segmentation – The art of database management
• At Risk Groups
• Potential
Customer Defectors
Marketing • Declining sales
• Welcome Groups Brand Marketing
• High Value Groups
• Who’s buying
• Underperforming • Who’s not buying
stores • Who should be buying
Store
• Competitive
Marketing pressures
• New distribution
13. Takeaway #3
Data is KING Content is QUEEN
Marketing initiatives will The message is critical
not succeed without data Not product focused
about every customer Not service focused
Personal demographics Customer focused
Sales history Segmentation creates
Data that is relevant messages
Knowledge based Up close and personal
Insightful Specific triggers that
Actionable influence the next sale
Timely
14. Takeaway #4 – A Freebee
Focus on your customers
Where are they in their lifecycle
with your brand
Active and growing
Active but not growing
Inactive – a lost cause?
Almost all are
“underperforming”
Here’s the opportunity
to influence
ORGANIC GROWTH
Almost all are Hungry
They want information
They want knowledge
15. Takeaway #5 – Another Freebee
MOT - A P&G Concept
FMOT
SMOT
ZMOT – A Google Concept
Zero Moment of Truth
Critical new concept
First step of engagement
Old Media
The first ZMOT
(and printing is there)
New Media
The buying decision journey has changed R e me mb e
What once was a message is now a conversation
r t h e G 3M
Word of mouth is stronger than ever and it’s digital
No MOT is too small De f i n i t
i on of
Ma r k e t i
16. Dangerous Curves Ahead – Takeaway #6
The New Reality of Marketing
Resist temptation to do everything
All these channels do not
always apply to your business
Be in “Their Space”
Know your customers
Know where they are
Where they want YOU to be
Be relevant
To your business
To your customers
It’s not about you
It’s about your customers
Meet their needs
Satisfy their wants
Pay attention to change