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In Pursuit of the New Consumer Creating a Captivating Brand Experience


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In Pursuit of the New Consumer Creating a Captivating Brand Experience

  1. 1. in pursuit of the new consumer: creating a captivating brand experience<br />presented by<br />lois brayfield; president<br />
  2. 2. “The majority of people meet with failure because of their lack of persistence in creating new plans to take the place of those which fail.”<br />- Napoleon Hill; Author-Innovator<br />
  3. 3. Tesarac<br />Periods in history when momentous social and cultural changes occur. During a Tesarac, society becomes increasingly chaotic and confusing  before reorganizing itself in ways that no one can accurately predict or easily anticipate. <br />Shel Silverstein – American author and poet<br />
  4. 4. a few things to think about …<br />1<br />understanding the new experience<br />2<br />mapping the experience<br />3<br />managing the experience<br />4<br />selling the experience<br />
  5. 5. 1<br />understanding the new experience (the decision path)<br />
  6. 6. the traditional funnel<br />70%<br />
  7. 7. the new decision path<br />McKinsey & Company<br />In depth qualitative and quantitative research conducted in three major geographic locations in 8 major consumer industries. 20,000 interviews. <br />
  8. 8. align your marketing efforts!<br />active evaluation<br />passive<br />active <br />initial consideration set<br />purchase<br />trigger<br />purchase experience<br />45%<br />
  9. 9. is the new acquisition model a really good retention plan?<br />
  10. 10. 2<br />mapping the experience<br />
  11. 11. a little test …<br />
  12. 12. Answer yes, no or “sort of”<br />Are you regularly testing new formats and new offers (both offline and online?)<br />Do you regularly monitor what customers are saying about your brand and then DO something with the information?<br />Do you offer relevant content, appropriate to your brand, in a place where THEY might look for it?<br />Do you have a specific plan for those new customers which come in through search?<br />Do you have a specific “thank you” plan established for loyal customers?<br />Have you created triggered programs that tap customers & prospects on the shoulder depending upon specific behavior? <br />Do you have a robust way of capturing prospects that might be interested in your brand but have yet to purchase?<br />Do ALL your marketing efforts have a “call to action” offering something of true value that is unique and relevant?<br />
  13. 13. game changer?<br />acquisition & retention programs<br />
  14. 14. Brands must map the customer experience and then deliver on their expectations<br />
  15. 15. active evaluation<br />initial consideration set<br />purchase<br />trigger<br />purchase experience<br />How do your customers make purchase decisions?<br />consumer-driven<br />(company reactive)<br /><ul><li>research
  16. 16. talking to friends
  17. 17. third party sites
  18. 18. interactive search
  19. 19. word of mouth
  20. 20. blogs
  21. 21. social marketing</li></li></ul><li>consumer driven research:<br />Are you in a position to react to prospect research efforts? <br />
  22. 22. If a consumer engages with a brand in ANY way, they are 63% more likely to purchase a product in the future. <br />
  23. 23. 140,000 rented names<br />1.1% response <br />+1.8% (2520 names) to raise their hands (note: these are “qualified” prospects)<br />convert 27% into new buyers (680) via series of triggered emails (without having to pay for the name a second time!)<br />
  24. 24. one-and-done<br />
  25. 25. direct mail<br />co-op lists<br />+ overlays<br />free online offer<br />relevant guide<br />research<br />search<br />+ social<br />trigger email offer<br />welcome message<br />trigger email<br />geo-specific offer<br />additional 1.8% raise hand<br />convert at 27%<br />and more …<br />
  26. 26. What compelling reason can you give prospects to leave an electronic trail online?<br />
  27. 27. Tony Hsieh’s rules of engagement:<br />ICEE<br /><ul><li>Interesting
  28. 28. Compelling
  29. 29. Entertaining
  30. 30. Educational</li></li></ul><li>active evaluation<br />initial consideration set<br />purchase<br />trigger<br />purchase experience<br />how will you engage customers based on their needs?<br />company-driven<br />(proactive)<br /><ul><li>tap on the shoulder
  31. 31. offer-driven marketing
  32. 32. triggered emails
  33. 33. loyalty messages
  34. 34. aligned message across channels</li></li></ul><li>company driven marketing:<br />Do your efforts still reach them where they are? <br />Is your message still relevant?<br />
  35. 35. company driven marketing:<br />And what about this decrease in loyalty? What are you doing to truly captivate customers? <br />
  36. 36. loyalty is no longer guaranteed<br />
  37. 37. You cannot afford generic programs in which all customers are treated the same.<br />Speak to them where they are! <br />
  38. 38. active evaluation<br />initial consideration set<br />purchase<br />trigger<br />purchase experience<br />mapping the customer experience …<br />your most profitable opportunity<br />
  39. 39. Brands must develop programs in which the customer is involved in the process and their needs are met. <br />
  40. 40. 3<br />managing the experience<br />
  41. 41. customization<br />customization<br />customization<br />commoditization<br />commoditization<br />?<br />a little history …<br />commodity<br />goods<br />services<br />experiences<br />extract<br />make<br />deliver<br />stage<br />information<br />Joseph Pine; Author, “Mass Customization”<br />content<br />
  42. 42. a little history …<br />31 flavors!<br />Commodities$ .02<br />Goods$ .20<br />Services$2.00<br />Experiences$5.00<br />
  43. 43. managing the customer experience is paramount<br />Those companies who actively manage the customer experience are twice as likely to exceed their profit targets.<br />% EXCEEDING PROFIT TARGETS<br />Managed customer experience<br />Did not actively manage<br />Aveus, “Domino” by Linda Ireland<br />
  44. 44. brand:<br />a person’s<br />perception<br />of a product, service, <br />or company.<br />
  45. 45. your brand is your reputation,<br />not your logo.<br />
  46. 46. “It takes twenty years to build a reputation and five minutes to ruin it.”— Warren Buffett<br />
  47. 47. managing the experience is really about managing the customer’s perception<br />
  48. 48. perception is everything<br />MRI brain imaging<br /><ul><li> feelings of reward
  49. 49. beliefs and self-identity</li></ul>it's our brains that love coke, not our taste buds.<br />
  50. 50.
  51. 51. cool<br />collection<br />craving<br />fear<br />Neuro-Marketing<br />High–tech brain scanning techniques, such as MRI and EEG, to investigate brain activity. This neuro–imaging hardware enables us to examine and analyze what really drives our behavior, our opinions and our preferences.<br />Buyology; Martin Lindstrom<br />
  52. 52. “Nearly 90% of our consumer buying behavior is unconscious, and we can’t actually explain our preferences.”<br />Martin Lindstrom; Buyology<br />
  53. 53. If our minds believe, our bodies will follow.<br />
  54. 54. How can a direct channel create an experience so powerful that it becomes an end destination?<br />
  55. 55. two simple things …<br /><ul><li>do you really know who you are talking to and do you understand their preferred customer experience?
  56. 56. do you truly understand the emotional reason customers do business with your brand?</li></li></ul><li>never assume<br />
  57. 57. put on your customer goggles …<br />
  58. 58. what is important to you is <br />rarely important to your customer!<br />what entertains you is <br />rarely what entertains your customer!<br />
  59. 59. research, research, research<br /><ul><li>online research
  60. 60. online focus groups
  61. 61. customer advocates
  62. 62. one-on-one interviews
  63. 63. listening in
  64. 64. read what they are saying
  65. 65. psychographic overlays
  66. 66. modeling overlays</li></li></ul><li>what do you need to learn?<br /><ul><li>who are they as an individual
  67. 67. perception of your brand
  68. 68. perception of competitors brands
  69. 69. what they value
  70. 70. pain points and satisfiers
  71. 71. decision-making process
  72. 72. trigger points
  73. 73. customer-driven activities
  74. 74. company-driven activities
  75. 75. channel preference
  76. 76. key motivators</li></li></ul><li>our two customers …<br />+ 12%<br />+ 27%<br />Linda<br />Heather<br />Our two customers share the same reality but with two unique points of view. Linda is committed to her job while Heather watches the clock. Both share a meager income and work in a cramped corner of a very public building. All day long, they receive complaints and seldom get thanked. Our products will improve their lives by …<br />
  77. 77.
  78. 78. word clouds<br />
  79. 79. higher order benefit<br />it’s the emotional reason customers do business with you<br />
  80. 80. time?<br />esteem?<br />security?<br />escape?<br />
  81. 81. Ed Mayer’s Checklist of Human Motivators<br /><ul><li>financial comfort
  82. 82. save money
  83. 83. save time
  84. 84. avoid effort
  85. 85. comfort
  86. 86. health
  87. 87. popularity
  88. 88. stylish
  89. 89. avoid criticism
  90. 90. avoid pain
  91. 91. satisfy curiosity
  92. 92. avoid trouble
  93. 93. satisfy appetite
  94. 94. protect reputation
  95. 95. beautiful possessions
  96. 96. to be admired
  97. 97. attract opposite sex
  98. 98. individualism
  99. 99. enjoy life
  100. 100. be clean
  101. 101. be appreciated
  102. 102. protect family
  103. 103. emulate those you admire
  104. 104. be creative</li></li></ul><li>?<br />=<br />=<br />=<br />escape and indulge<br />old-fashioned comfort<br />reach your creative potential<br />=<br />affordable style <br />
  105. 105. pleasure vs. luxury<br />“The Joy of Driving”<br />“We are BMW, but we don't just build cars. We invent time machines. It was clear to us from the beginning that what people feel is exactly as important as what they drive. Joy is what moves us. Joy is BMW.”<br />
  106. 106. “Understanding and then effectively marketing your higher order benefit is one of the seven essentials to becoming a billion dollar company.”<br />David Thomson; author Blueprint to a Billion<br />
  107. 107. This effort must be strategically managed at all levels within all activities and become a part of your corporate DNA. <br />
  108. 108. customer touch-points<br />brand identity<br />retail – front of house<br />fulfillment<br />marketing<br />corporate<br />customer service<br />
  109. 109. the instant an order is placed … <br />a strong finish will increase future purchases by 12%<br />a brusque finish can decrease loyalty by 8%<br />
  110. 110. Successful brands intimately understand who they are selling to (and customer perceptions) and what they are selling (higher order benefit.) <br />
  111. 111. 4<br />selling the experience <br />
  112. 112. Your brand must demonstrate value!<br />
  113. 113. 1,900 affluent Americans were surveyed and found that 48% think they could suffer major financial losses in the near future<br />Harrison Group, January 2011<br />Consumers are willing to spend more as long as they feel they’ve received a measurably increase in value<br />Barons June 2010<br />
  114. 114. value = lowest price<br />value = price + quality<br />value = emotional alignment<br />
  115. 115. it’s not always about money<br />value can be interpreted by how the brain reacts in a non-conscious way.<br />nurture<br />=<br />
  116. 116. it’s not always about money<br />People are most satisfied when they spend more money on a premium brand if the essence of its value was delivered.<br />
  117. 117. pricetesting<br />price perception can add value to the customer experience<br />McKinsey & Company; Feb 2010<br />
  118. 118. Add value by organizing information in the same order in which customers make decisions.<br />You value what they value.<br />
  119. 119. organize by what they value<br />$<br />“this is important to me”<br />
  120. 120. fact<br />Value means something different from one brand to another<br />Learn what value means to your customer!<br />
  121. 121. demonstrating value<br />provides a real solution<br />lasts longer<br />more for my money<br />an amazing experience<br />the best ingredients<br />look better<br />treated better<br />feel better<br /><ul><li>simplifies my life
  122. 122. creates lasting memories
  123. 123. aligns with my values
  124. 124. a life better lived
  125. 125. less is more
  126. 126. live a longer life
  127. 127. builds my esteem
  128. 128. get noticed</li></ul>must be authentic!<br />
  129. 129. Cyberswim<br />we love curves<br />
  130. 130. You must prove & protect your “why” over and over again to create the desired perception of value. <br />It is the key driver of loyalty. <br />
  131. 131. the value of customer excitement<br />
  132. 132. satisfied customers = increased profits?<br />incremental changes to improving customer satisfaction have a limited affect on purchasing behavior … <br />extreme loyalty occurs when you surprise, thrill and captivate <br />
  133. 133. WOWingcustomers!<br />
  134. 134. McKinsey & Company; January 2011<br />
  135. 135. customer excitement is different than customer satisfaction<br />
  136. 136. customer excitement creates value<br />customers willing to pay more<br />your brand is memorable<br />word-of-mouth advertising (viral)<br />increased loyalty<br />
  137. 137. in closing …<br /><ul><li>align your marketing efforts
  138. 138. consumer-driven (reactive)
  139. 139. company-driven (proactive)
  140. 140. be where your customers are
  141. 141. where they go for answers
  142. 142. where they are in the decision/purchase cycle
  143. 143. closely manage the experience
  144. 144. know your customer, talk in their language and provide an experience they prefer
  145. 145. articulate and sell your brand’s higher order benefit
  146. 146. understand, demonstrate and sell value</li></li></ul><li>“The secret is respecting the consumer.You are interrupting their life. All advertising is unwanted, so if you’re going to crash the party, bring some champagne with you.”<br />Bob Thacker, Sr. VP-marketing & advertising; OfficeMax <br />
  147. 147. FREE BRAND CHECK UP QUIZ!<br />Scan and take the quiz!<br />questions?<br />