Marketing Challenges & Trends. What are the most common challenges facing marketing professionals today, the trends that are fueling these challenges, and recommended approaches to build successful brands.
4. Top Marketing Challenges
Common challenges
1. Too many channels – too many choices
2. Data overload and confusion
3. Connecting and engaging with the target audience
Source: Adcom Research
5. Digital Marketing
By 2019, CMOs predict digital marketing will account for
more than 75% of the marketing budget.
Source: Accenture Interactive, 2014 CMO Survey
6. Digital Marketing
Source: Gartner, Inc., “Forecast Analysis: Enterprise Application Software, Worldwide, 1Q14 Update”, April 29, 2014
Gartner predicts that, by 2017, the CMO will have a
larger IT budget than the CIO.
11. Connected
Source: DigitaLBi
• 72% of smartphone users use their phone when
shopping in-store
• 40% will call friends to get an opinion
• 35% post photos of their prospective purchases for
‘feedback’ and decision reinforcement.
12. Informed • 82% of online shoppers use the internet to
research products before making a purchase.
• B2B: 57%
Source: comScore and eTailing Group – Pulse of The Online Shopper, 2014. CEB 2014.
13. Demanding • 54% of consumers would consider
ending their loyalty relationship with a
brand if they were not given tailor-
made, relevant content and offers.
Source: CMO Council
15. Mobility
Mobile is the “power-tool” for today’s consumers
Source: 2014 salesforce.com Mobile Behavior Report. Return Path 2014. ComScore 2014
• 51% of emails are being read on a mobile device
• 72% of US mobile phone users are smartphone owners
16. Innovation is creating new
touch-points that consumers
didn’t even know they wanted.
Devices
17. We Are Here
• New devices are creating even more channels.
• The ‘Internet Of Things’, will be by far the world’s largest device market
Source: BI Intelligence Estimates
0
5
10
15
20
25
30
35
2013 2014 2015E 2016E 2017E 2018E 2019E
Billions
The Internet Of Everything Internet Of Things
Connected Cars
Wearables
Connected/Smart TVs
Tablets
Smartphones
Personal Computers
We Are Here
Devices
18. Collaborative Economy
• An economic model that let’s people get what they need
from each other using commonly available technologies.
• Bypassing traditional corporations.
Source: Crowd Companies. April, 2015.
• In the next 10 years, PWC predicts the Collaborative
Economy will grow from $15B to $335B revenue.
19. Source: Crowd Companies. April, 2015
• 10 year old etsy. 19M active shoppers, doesn’t own a single factory or
showroom, had an IPO for $3.8B
• 8 year old Lending Club has issued over $7B in P2P loans, doesn’t own a
single bank, branch or ATM and is valued at $7B
• 7 year old AirBnB has over 23M guests, doesn’t own a single bed, bath
or bar, and is valued at $20B
• 6 year old Uber had 140M rides in 2014, doesn’t own a single taxi or
towncar and is valued at $41B
Collaborative Economy
20. Over 150 brands now partner with, sponsor, or buy-
out collaborative economy companies
21. 3. Channel & Content Acceleration
Social
Email
Content
22. Email
• Email is not dead
• 4.1 billion email
accounts. 5.2B by 2018
• Marketing automation
and CRM increasingly
critical tools for digital
marketing success
Social
23. Volvo Construction
Equipment builds personas
of its best customers.
Volvo uses paid social ads to engage
these individuals and drive them to
the Volvo website where they are
converted to email subscribers.
Facebook uses this profile to
identify individuals who fit
the ideal profile of a
potential buyer.
Social & Email Case Study
24. Volvo Construction Equipment’s digital marketing solution
helps dealers to sell $100 million dollars worth of new and
used equipment each year.
26. But the average attention span has dropped
from 12 seconds in 2008 to 8 seconds.
Source: National Center for Biotechnology Information, U.S. National Library of Medicine, The Associated Press. 2014
27. Source: National Center for Biotechnology Information, U.S. National Library of Medicine, The Associated Press. 2014
. . . the average attention span of a goldfish
is 9 seconds.
30. How To Navigate The Digital World
• Create Alignment
• Develop Great Brand Experiences
• Cultivate Ongoing Engagement
31. Create Alignment
Internal
Know Your Brand
External
Know Your Audience
Great Brand
Experiences
• Vision
• Mission
• Values
• Brand Positioning/Promise
• Brand Features & Benefits
• Personality & Voice
• Logo & Graphic Standards
• Personas - Content
• Media Eco-Systems
• Customer Journey Experiences
• Competitive Assessment
• Marketing & Communication Plan
Target
Audience
32. Moment + Moment =Moment + Experience
Internal
Know Your Brand
External
Know Your Audience
Great Brand
Experiences
So, What Makes a Great Experience?
33. • Marketers have typically referred
to a marketing funnel. However, a
linear path to market to their target
audience is no longer effective in
today’s world.
Great Brand Experiences
• The “funnel” is dead.
34. • The journey has replaced
the traditional marketing
funnel because decisions
are no longer linear.
• Customers today are
more empowered, with
more information, and
can get information and
make decisions
anywhere at any point in
time
Great Brand Experiences
35. Great Brand Experiences
Is Your Brand Present During Those Moments That Matter?
Make It Easy
Make It Relevant
Encourage Conversations & Community
Invent Your Own Brand Moment
37. Make It Relevant
First company to fit women into
their favorite bra with a quiz.
• No fitting rooms
• No measuring tapes
• No photos
Over 1 million customers in
less than 2 years
39. Invent Your Own Brand Moment
• CMO, Evan Greene
• Challenge: Stay relevant outside
the 1 day
• Aligned Mission & Vision: “. . .to
touch people’s lives through music.
. .”
• Macklemore and Ryan Lewis gave
a surprise performance on a New
York City bus.
41. Ongoing Engagement
• Start Early - it is part of the design
• Optimize/Attribution
• Don’t just measure tactics
42. Effective digital analytics starts during campaign design:
• Define success metrics/goals in terms that are specific
(quantifiable)
• Identify the Key Performance Indicators (KPIs) that will be
tracked – and, from where this data will be obtained
• Determine report frequency required (daily, monthly, quarterly,
semiannually, etc.)
Ongoing Engagement
44. Final Take-Away’s
Digital is not coming. It’s here.
More choices & technology. More confusion. Stick to the fundamentals.
Know your brand. Know your audience. Create alignment. Be authentic.
Digital is not a tactic. Have a digital strategy.
Hire for digital expertise. Expect more from your agencies.
Notas do Editor
Gen C are avid consumers, enthusiastic early adopters and passionate brand advocates, and when brands figure out the right way to engage them, they can become the biggest spenders, the most vocal supporters and the most influential opinion formers. In short, they could become your best customers.
Generation C, or Gen C, is a term coined by Nielsen and Booz Allen Consulting in 20101 to describe millennials. Now fast-forward today and they are now a true psychographic—not simply a demographic but a mindset that spans generations.
On average, 39% (with a range of 20% to 50%) of Gen C are aged 35 or over.
Moore’s Law. The price/performance ratio doubles every 18 months.
Nearly every industry and vertical is being developed through this new economic model:
Learning, Financial, Municipal, Corporate, Energy, Health & Wellness, Transportation, Logistics, Food, Goods & Services, Personal & Business Services.
Number of social channels:
Social:
Email:
Email is not dead.
That is a lot of content and we can only absorb so much of it.
The human attention span is falling
That is a lot of content and we can only absorb so much of it.
The human attention span is falling
The production of content has greatly exceeded consumers ability to digest
The Supply outweighs the demand
Marketers can get away with just “doing it” anymore
Consumers have become highly selective in what content they choose to influence their decisions
Marketers must find ways to differentiate from the hoard of content to stay in the good graces of consumer attention
Marketers must first learn to listen to what their target audience needs are (what are they looking for??? What do they need???)
Michelle Lam
Evan Greene – CMO of The Recording Academy: The Grammy’s
How to stay relevant besides the one day.
Created their own moments
