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Changing marketing communication landscape


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Today's brands are built by communities and not companies

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Changing marketing communication landscape

  1. 1. The New Age Economy “It’s the economy stupid” James Carville ,1992 “It’s a people driven economy stupid” Erik Qualman, 200912/25/2011 Vinish
  2. 2. What is Marketing Marketing is creating value for customers in exchange transactions.12/25/2011 Vinish
  3. 3. Plus ηa change, plus cest la mκme chose.In times of great change it is important to reflect uponwhat has changed and what remains unchanged 12/25/2011 Vinish
  4. 4. MediaConsumers Brand12/25/2011 Vinish
  5. 5. Media Information TechnologyConsumers Brand Distribution Consumption12/25/2011 Vinish
  6. 6. Media  Advertising coming closer to information  Importance of ‘when’- Just in time instead of just in case Information TechnologyConsumers BrandInteractive & In –Control  Transition from being seller Networked & Mobile to collaborator, advertiser to Conscious experience creator Distribution Consumption12/25/2011 Vinish
  7. 7. Media  Advertising coming closer to information  Importance of ‘when’- Just in time instead of just in case Information Technology Creation , Access & Divergence & Sharing ConvergenceConsumers BrandInteractive & In –Control  Transition from being seller Networked & Mobile to collaborator, advertiser to Conscious experience creator Distribution Consumption Interaction with Brand Multi-Channel Interaction with Media12/25/2011 Vinish
  8. 8. Media  Advertising coming closer to information  Importance of ‘when’- Just in time instead of just in case Information Technology Creation , Access & Divergence & Sharing ConvergenceConsumers BrandInteractive & In –Control Networked & Mobile Dialogue  Transition from being seller to collaborator, advertiser to experience creator Conscious Distribution Consumption Interaction with Brand Multi-Channel Interaction with Media12/25/2011 Vinish
  9. 9. Opportunity12/25/2011 Vinish
  10. 10. New Age Brands12/25/2011 Vinish
  11. 11. Information Create, Access & Share12/25/2011 Vinish
  12. 12.  power. empowers people makes consumers well informed. more information and more choices more demanding, more discerning and more connected the behavior is information based enabled by technology 12/25/2011 Vinish
  13. 13. 280 exabytes of information created in2010, which is 50 times more informationthat was created in the history ofmankindEstimated to be 667 exabytes ofinformation to created per day by 2013 12/25/2011 Vinish
  14. 14. Technology12/25/2011 Vinish
  15. 15. Impact of Digital technology on Education and e-learning Opened‐up learning to multiple delivery methods - in‐campus, distance learning ,e‐Learning and m-learning iPhone and iPad stamps their marks on the education sector e-Books enter mainstream and students start embracing 12/25/2011 Vinish
  16. 16. Impact of Digital technology on Politics and Finance Perfected online fundraising by using social media tools Embedded hardware & service solutions in the finance Changed political fundraising & electioneering forever sectorRaised $45 million online  Enabled investors an ability to crunch, analysis & store data  Lifeline for mutual & hedge funds, insurance brokers, banks & finance institutionsU.S. President: Barak Obama 12/25/2011 Vinish Mayor : Michael Bloomberg
  17. 17. Impact of Digital technology on Music and Social EngagementSalvaged the music business from declining CD’s sales Super‐sized dating possibilities at Harvard Introduced iPod music player, iTunes digital music software, Universitythe iTunes Store and iPad  Transitioned into a global social media phenomenon  Delivered platform to connect and expand friend/biz contacts 12/25/2011 Vinish Joshi@yahoo.comApple CEO Steve Jobs Facebook: Mark Zuckerberg
  18. 18. Impact of Digital technology on Video and Information SearchRevolutionized the video‐ sharing business Turned 1 followed by 100 zeros into cash cow (Googol)Ignited a cadre of citizen video producers worldwide Monetized the Internet by linking advertising to search  Owns # one search engine, online mapping, Gmail et alia Google: Sergey Brin and Larry PageYouTube: Chad Hurley, Steve Chen & Jawed Karim Vinish 12/25/2011
  19. 19. The biggest challenge is not technology,but changing consumer behaviorMajority of software is designed for the unconnected world.Every aspect of human behavior thatwas spent in offline world will shiftto online world. 12/25/2011 Vinish
  20. 20. Technology is not the tool, it’s the businessNew technology is tearing down old ways of doing business. Apple -went from 5 inch floppy disk to 3 and half inch floppy disk with Mach. Sony invented it and Apple innovated it.It has done similar thing with iPod and recently replacing Adobe Flash by HTML5. Tesco - UK’s leading groccery chain developed mobile application that allows customers to view and purchase products at virtual stores installed in subways. Tesco due to it’s virtual stores increased sales by 30% and Liberated the traditional boundaries between marketing and commerce channels Tesco Video 12/25/2011 Vinish
  21. 21. Divergence & ConvergenceDivergence of multiple devicesConvergence of content on all devicesConsumers don’t see brands in terms of touch points, they see, hear and feel the collective brand experience regardless of where and how its being deliveredIt’s easier than ever to reach a large audience,but harder than ever to really connect with it. 12/25/2011 Vinish
  22. 22. Leveraging Technology to Connect Engage Emotions Enable Experiences12/25/2011 Vinish
  23. 23. Brands Leveraging Technology An estimated 70 million viewers watched the first debate. People who watched the debate on television overwhelmingly believed Kennedy had won, while radio listeners (a smaller audience) believed Nixon had won Nixon refused makeup for the first debate, and as a result his beard stubble showed prominently on the eras black-and-white TV screens. Kennedy, by contrast, rested and prepared extensively beforehand, appearing tanned, confident, and relaxed during the debate. Kennedy was ‘Telegenic’, he spoke in short sentences and was extremely good looking Video Barack Obama gets the Internet and social media the way that Kennedy got TV. Kennedy was built for TV and Obama is built for the Internet age. He had 3 million online donors during the election and 2 million people were passionate enough to create profiles on Vinish
  24. 24. 12/25/2011 Vinish
  25. 25. Technology TrendsLocation - Social Computing – Pervasive Display – UniversalConnectivity - Cloud – Data – Natural user Interaction. 12/25/2011 Vinish
  26. 26. Start with customer experience and work backwards to the technology.Need to bring science to the art of marketing by leveraging technology Find different ways to make connections with consumers using technology Increasingly consumers don’t shop in one channel, they shop in multiple channels 12/25/2011 Vinish
  27. 27. We have the abilityof over-estimatingthe short term andunder-estimatingthe long termTechnology has Technology hasallowed people to be changed the balanceextremely creative of power in favor of consumers. In future we will live in a digital 12/25/2011 Vinish society
  28. 28. Distribution12/25/2011 Vinish
  29. 29. Transformative shifts in Marketing Phase1 – Music goes digital from LP to CD. World of music Phase2 – Challenge for doesn’t change much same model of conceptualization, marketer as distribution creation and distribution becomes free Phase1 – Books goes digital from Britannica to Phase2 – Content becomes decentralized that CD. World of Books doesn’t change much changes centralized concept of Britannica12/25/2011 Vinish
  30. 30. Distribution Consumers don’t pay for paper, they pay for content & editorial and in future people will consume content and editorial on digital platforms. Publications will save on printing and distribution cost but they have to find a way to create value for people to pay for the content and editorial on digital devices. Air Ticket , Hotel ticket, greeting cards , Matrimony, Job Portals, Movie tickets etc. 12/25/2011 Vinish
  31. 31. Internet has become world’s largest Information, Communication and Distribution platform12/25/2011 Vinish
  32. 32. Consumers canbypass traditionaldistribution channelsNew distribution Entry Barriers formodels developing start-ups is lowerevery day than ever 12/25/2011 Vinish
  33. 33. ConsumerIncreasingly future of brands will beshaped by consumer emotionand experience12/25/2011 Vinish Starbuck sells experience and not coffee
  34. 34. Interactive and in Control  They are talking to each other  There is a vast –self answering community on social networks  Consumers want their voice and opinion to be heardNetworked and Mobile  Uses technology to create, share and distribute informationConscious  Demands authenticity and transparency 12/25/2011 Vinish
  35. 35. Expectations from Brands Consumers look for mutually beneficial relationship which results from value. O.P.E.N  O: On –Demand –accessible, self-directed & Instantly gratifying experiences  P: Personal –meaningful interactions  E: Engaging –relevant emotional experiences  N: Networked –the exponential potential of consumers & communities12/25/2011 Vinish
  36. 36. Interaction with Media We like to Know  We Like to Connect We Like to See  We Like to Tweet  We Like to Play  We Like to Buy  We Like to Collaborate12/25/2011 Vinish
  37. 37. All that matters is what customers say about the brand Think about howBrand success isn’t much our life isthe result of choices driven by peerin media but the recommendation.choices in mindset We leave nothing to 12/25/2011 Vinish chance
  38. 38. Companies like Apple and Google start by answering questions like ‘what incredible benefit they can give to customers’ Solve consumerIt is not a one-way problemsstreet, it is aboutbuilding relationships 12/25/2011 Vinish
  39. 39. 12/25/2011 Vinish
  40. 40. 12/25/2011 Vinish
  41. 41. ConsumptionSeeking return path with brands to engage 12/25/2011 Vinish
  42. 42. Consume media Information Communication Entertainment Community/NetworkingInteract with brands: Search Compare Select , Buy Share products and servicesConsumers look for seamless user experience across platforms.Challenge is to make user experienceseamless. 12/25/2011 Vinish
  43. 43. Moving from brandawareness to brandengagement Increasingly brandsContent ( Brand are focusing onNarrative) is only as context becausegood as the Context relationships are( What it does for valued and limited byconsumer) it creates 12/25/2011 Vinish nature
  44. 44. Consumersremember 10% ofwhat you say and90% of what they say Let go “above theLess about us and line, below the line”more about them marketing mindsetapproach 12/25/2011 Vinish
  45. 45. Transformative shift in MarketingEarlier Now Information was scarce Information overload Single channel Buying Multiple Channel Buying Advertising was one way Consumers have return path Media consumption at set time Anytime, Anywhere Media owned content Media and consumer owned content Feedback one to one Shares experiences: Many to Many 12/25/2011 Vinish
  46. 46. Market of oneRelevance and Choice Customers are SocialInfinite Scale Customers have more information Co-Creation and Collaboration New Age Marketing 12/25/2011 Vinish
  47. 47. Marketing Communication Pre-digital Digital AnalyticalCommand and Control Interact and Measure Connect & CollaborateMarketing mindset Marketing mindset marketing mindset 12/25/2011 Vinish
  48. 48. Pre-Digital (Command andControl Marketing mindset) 12/25/2011 Vinish
  49. 49. Pre-Digital Approach Creative was driving force with thought process Creative Driven  to build beautiful creative design that gets people’s attention People Enabled  and then get people enabled to meet objectives 12/25/2011 Vinish
  50. 50. Create and DistributeMedia handed down from on high……. along with its general toneJoshi@yahoo.com12/25/2011 Vinish and attitude
  51. 51. Media Consumption & Marketing Touch Points- Finite Media consumed at set schedule and place The way we interact with companies and brands  Limited consumer checks and references Experience sharing and feedback 12/25/2011 was one to one Vinish
  52. 52. Consumer12/25/2011 Vinish
  53. 53. Digital (Interact and MeasureMarketing mindset)12/25/2011 Vinish
  54. 54. Digital12/25/2011 Vinish
  55. 55. Approach Digital Focus is on performance with thought process  can we measure the initiative ? Performance Driven  what technologies do we need to support Technology that initiative ? Enabled  what strategies will we need to meet our strategic objectives ?  now let’s build the creative Creative has now become the fourth step in the new marketing approach thought process 12/25/2011 Vinish
  56. 56. Create and Distribute12/25/2011 Vinish
  57. 57. Consumer12/25/2011 Vinish
  58. 58. Media Consumption Blogging12/25/2011 Vinish
  59. 59. Consumption happens anytime, anywhere  Marketing recognizes and differentiates between “ yet another talk channel” versus the desire to “enable social participation”. marketers are competing to make connections. 12/25/2011 Vinish
  60. 60. Years to reach 50 million users 38 Years 13 Years 4 Years 3 Years 9 Months12/25/2011 Vinish
  61. 61. This and That New use of media Traditional Traditional place place of media Traditional of media place New use Traditional place of New use of media of media Traditional Traditional of media Media in everyday life in everyday life place place Traditional of media of media place of media New use New use of media Traditional of media It is not Traditional place Traditional Traditional Like this place of media place place of media of media of media 2008 20092008 2009 2010 2010 New Media has not replaced traditional media but has instead joined them12/25/2011 Vinish
  62. 62. Analytical (Connect & Collaboratemarketing mindset)Thought process is increased collaboration and seamlesslymerging offline and online marketing strategies. Listen--------- Participate-------Collaborate 12/25/2011 Vinish
  63. 63. We’ve turned the cornerIncreased use of existing data and predictivemodels to make marketing decisions12/25/2011 Vinish
  64. 64. Listen (Getting into minds of consumers.) Marketers are growing more ears with focus on Insights. One way of doing it is what Apple does : “Looks at what sucks in market and makes it better”. Example: Intersection of trends led to insights on iPod. Insight: One trend was personal music on the move ( Walkman was very successful) and the other trend was digital music and the convergence of these trends was an opportunity. Innovation: The three innovation created by iPod was 1) Size: which was pack of cards 2) Storage: which was 10,000 songs 3) User could buy and download music legally.12/25/2011 Vinish
  65. 65. Participate Trying to understand what the customers are trying to achieve and how does my brand fit into that conversation. Example Microsoft Home Magazine- It doesn’t talk about Microsoft products. It talks about hobbies, homes, memories . The whole conversation is around activities and goals and how technology fits in to that.12/25/2011 Vinish
  66. 66. Participate12/25/2011 Vinish
  67. 67. Participate Thought is to lead in with customer activity and goals and follow with products.12/25/2011 Vinish
  68. 68. Collaborate Recognize and differentiate between “yet another talk channel” versus the desire to “enable social participation”.12/25/2011 Vinish
  69. 69. Collaborative Engagement My which allows customers to come and give suggestions to Starbuck on operations or products Collaborative Idea Nokia’s concept lounge on design ,on ideas, on new age mobile devices or on ways to interact with mobile devices Collaborative Products Threadless allows customers to come in and design their own T-Shirts and customers get royalty if their design are accepted or sold (Video) Collaborative advertising I Pod touch ad created by Nick Haley in UK. (Video) Collaborative distribution Southwest airlines embed widgets called ‘ding’ on your desktop by which they make you travel agent and push offers directly to you12/25/2011 Vinish
  70. 70. Volkswagen UK Car Configurator The entire Volkswagen car range • Ninety million variations • Constantly updated prices • Save and send by email, Facebook, and more • Request a test drive • Local retailer locator • Optimised for iPhone & iPod touch iOS512/25/2011 Vinish
  71. 71. 12/25/2011 Vinish
  72. 72. What is your value propositionWhy should people do business with me?Why they should buy my products?Why Me ? 12/25/2011 Vinish
  73. 73. What is your value propositionDevelop an understanding of why people buy a particular brand?Three major problems that needs to be addressedby every marketer: Time: Greatest challenge most people/ consumers have is that they are “time poor”. ‘More to do and less time to do it’. Build services/ infrastructure around saving time Clutter: Marketing Clutter (Create unique selling proposition and consumer value to stand out of clutter) & Media ( Personalization and interactivity- give consumers return path) Trust: Create consumer trust in your brand through consistent delivery across functions 12/25/2011 Vinish
  74. 74. What is your value propositionMarketing ProcessSensing Value: Bringing customers inside theorganization and understanding the opportunities andthreats in the environmentDefining Value: Converting these insights into valueproposition that is compelling for customers 12/25/2011 Vinish
  75. 75. What is that you offer that no oneelse doesWhat is that my customers cannot getanywhere else?How easily can someone imitate what I do? 12/25/2011 Vinish
  76. 76. What is that you offer that no one else doesMarketing is creating value for customers in exchangetransactions. Functional Value: What product or service does for customers, it’s performance, it’s durability, it’s reliability, it’s innovativeness related to feature and performance of product. Consumer loyalty is towards the functional features of the modelPC like Dell/HCL Economic Value: Relates to time and money the product saves or creates for customers. Consumer loyalty is towards price or dealLemon tree, South west airline Emotional Value : Is the value customers get out of interacting with products and services. Sense of affliation, sense of independence, sense of self- expression etc. Consumer loyalty is towards the brand 12/25/2011Apple, BlackBerry, minicopper etc. Vinish
  77. 77. What is that you offer that no oneelse doesMarketing ProcessRealizing Value: Offering product and services that arerelevant and compelling for customersDelivering value: Taking this offering to customersthrough distribution channels and partnerships 12/25/2011 Vinish
  78. 78. Do we know your value propositionIf I were in market place to buy what youhave to sell, will I think of you first, second,third or not at all? 12/25/2011 Vinish
  79. 79. Do your customers know your value proposition Brand choices are GETTING shaped by two simple questions? “Where am I in this story?” “What have you done for me lately? ”  Communicating (Tell and Sell marketing) to Connecting (Discuss with)  Selling (communication with brand message) to Positioning (consumer value)  Transition from being seller to collaborator, advertiser to experience creator12/25/2011 Vinish
  80. 80. Do your customers know your value proposition Marketing Process Communicating Value: Articulating value proposition and position in the market place. How you build brands Sustaining Value: Continuous improvement of customer experience12/25/2011 Vinish
  81. 81. Value is notincreasingly what youdeliver to customers.It is increasingly whatyou co-create withcustomers Marketers are changing from producing “ads with the brand message”Elevate the value to “Producingproposition to consumer value”emotional value 12/25/2011 Vinish
  82. 82. Key Components of Marketing Plan RAM12/25/2011 Vinish
  83. 83. RelevanceRelevant product :from “nice to have” to “must have”  Don’t fall in love with your product, fall in love with what your product does for people  Content ( Brand Narrative) is only as good as the Context ( What it does for consumer) it creates .Relevant Audience Segments:  Demographic, Psychological( Attitude, Needs and Motives) & Behavioral ( Purchase and transaction)Relevant communication and media channels  Bring advertising closer to information  Importance of ‘when’- Just in time instead of just in case 12/25/2011 Vinish
  84. 84. Automation  Marketing is the new finance  Focus shifting from number of leads to quality of leads. Filtering information will be important as we move to digital society  Understanding ‘who is where , when’  Integrating all marketing tools deployed into one unified system and matrix for measurement, to improve overall ROI and workflow 12/25/2011 Vinish
  85. 85. Consumer Insight ( Getting into minds ofconsumers)Fresh and non-obtrusive way of understanding customer need, behavior or frustrations.It’s about walking in customer shoesbut first you have to take off your own. 12/25/2011 Vinish
  86. 86. Elements of consumer Insights Data Exploration ( highlights strengths and weaknesses of data) Profiling and Segmentation  Profiling Answers ‘who your customers are’, ‘what will and will not interest them’  Segmentation will group customers according to their needs and preferences Modeling  It turns insights into actionable marketing strategies Evaluation  Continually monitor all activities to get better results 12/25/2011 Vinish
  87. 87. Media Increasingly future of brands will be shaped by consumer emotion and experience Quality of engagement and not reach is important Media needs to be multi-dimensional because customers live multi-dimensional lives Advertising should come closer to information both in terms of content & context  Nike Plus: Notion is that Nike becomes the enabler of your better running experience.. Thought is to engage your customer and build connection. 12/25/2011 Vinish
  88. 88. In a world of many to many attention is the biggest cost Every brand is a potential platform on which consumersUnderstand consumer could tell their storypreferences and bringadvertising closer toinformation 12/25/2011 Vinish
  89. 89. Key to marketing is you don’t create markets, you serve a market that is so thirsty that it says ‘I want to get that drink’ and you give them drink more than once.12/25/2011 Vinish