What To Give the Consumer Who Wants Everything
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What To Give the Consumer Who Wants Everything
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What To Give the Consumer Who Wants Everything
- 1. What to Give the Consumer Who Wants Everything Nick Worth | CMO | @nsworth
- 8. YET CEREAL SALES ARE DECLINING
- 10. WHILE FOOD BAR SALES SOAR
- 11. THE ENTITLED CONSUMER en·ti·tled inˈtīdld, enˈtīdld/ adjective believing oneself to be inherently deserving of privileges or special treatment
- 12. CONVENIENCE EXPECTATIONS • 90% EXPECT REAL-TIME CUSTOMER SERVICE • 89% EXPECT TO SCHEDULE A SERVICE WHENEVER THEY NEED IT • 78% EXPECT AUTOMATIC PAYMENTS AND CHECKOUTS • 79% EXPECT SAME-DAY DELIVERY WITHIN 5 YEARS Harris Poll, 2000 US Adults, 2014
- 13. PERSONALIZATION EXPECTATIONS • 53% EXPECT SERVICE PROVIDERS TO LEARN THEIR TASTES AND MAKE SUGGESTIONS • 48% EXPECT THAT THERE WILL BE A SERVICE THAT SHIPS PRODUCTS BEFORE THEY ORDER THEM Harris Poll, 2000 US Adults, 2014
- 15. Millennials and Gen Z are hard coded to demand more • Expect brands to know them not as a segment but as an specific individuals • Less concerned about privacy • Want brands to provide an individualized experience AGE OF EXPECTATION
- 16. ENTITLED CONSUMER HARD TRUTHS Convenience Value Relevance
- 17. ENTITLEMENT IS NOT THE ONLY PROBLEM Hyper-connectivity and Low cost digital communications Are making consumers harder to engage than ever before
- 18. 2015: 5000 1970: 500 AVERAGE NUMBER OF DAILY MARKETING MESSAGES PER CONSUMER
- 19. CURRENT AVERAGE HUMAN ATTENTION SPAN
- 25. ACT AS THOUGH EVERYONE FOLLOWS THE SAME PATH TO PURCHASE
- 26. TREAT EVERYONE THE SAME
- 27. FAIL TO BE IN THE MOMENT
- 28. WE LIVE IN MOMENTS
- 32. FORGOT GIFT FOR SON YOU NEED A PLAN B BRAND LOYALTY DECLINES Loyalty to NEEDS.
- 33. v THERE NEEDS TO BE A MINDSET SHIFT
- 37. Respects Consumer Preference • Respects the consumer's stated and inferred communication and content preferences CONSUMER-FIRST MARKETING Consumer-First Marketing helps brands build relationships on consumers’ terms It is marketing with integrity and empathy toward the consumer
- 39. Respects Consumer Preference • Respects the consumer's stated and inferred communication and content preferences CONSUMER-FIRST MARKETING Relatable • Communication speaks to and sounds like the consumer Consumer-First Marketing helps brands build relationships on consumers’ terms It is marketing with integrity and empathy toward the consumer
- 41. Respects Consumer Preference • Respects the consumer's stated and inferred communication and content preferences CONSUMER-FIRST MARKETING Relatable • Communication speaks to and sounds like the consumer Adds Value • Communication explicitly focused on providing value. (i.e., inspire, convince, educate, entertain) Consumer-First Marketing helps brands build relationships on consumers’ terms It is marketing with integrity and empathy toward the consumer
- 43. Respects Consumer Preference • Respects the consumer's stated and inferred communication and content preferences CONSUMER-FIRST MARKETING Relatable • Communication speaks to and sounds like the consumer Adds Value • Communication explicitly focused on providing value. (i.e., inspire, convince, educate, entertain) Contextually Relevant • Communication that recognizes and responds based on the consumer's current state (mental and physical). Consumer-First Marketing helps brands build relationships on consumers’ terms It is marketing with integrity and empathy toward the consumer
- 44. GETTING CONTEXTUAL WITH WEATHER
- 45. CONSUMER-FIRST PRINCIPLES SHOULD GUIDE DECISIONS Identify & Recognize – in real-time & across channels Insight-Driven – predictive & contextual Relevant – to the individual & in the moment Appreciated – respectful & valued
- 46. • Natively designed: Cohesive solution designed for data-driven engagement • Unified data model: 360-degree consumer profile • Efficient automation: Dynamic messaging based on current consumer data and context • Consolidated reporting: Real-time metrics and insights • Highest industry uptime: 99.99% track record for last 6 years • Marketer-enabled execution: limited dependency on IT
- 47. THE VOYAGE TO CONSUMER-FIRST • Rethink how you identify and recognize consumers • Leverage predictive and contextual capabilities • Build permission and earn your consumers’ attention • Seek to become appreciated and valued by consumers • Start small and build
Notas do Editor
- ABOUT ME WELCOME TO NO COUNTRY FOR OLD MAD MEN… TO TRANSLATE THE PRESENTATION TITLE… THINGS ARE GETTING TOUGH FOR MARKETERS -- THEY MUST CHANGE THEIR OLD HABITS TO SUCCEED WHY ARE THINGS TOUGH BECAUSE OF THE REVOLUTIONARY CHANGES IN CONSUMER BEHAVIOR DRIVEN BY HYPER CONNECTIVITY THE IDEA IS TO TALK ABOUT WHAT’S CHANGED AND WHAT IT MEANS AND WE THINK YOU OUGHT TO RESPOND
- Our story begins like the mornings of many Americans with a tasty bowl of breakfast cereal Throw it in
- Breakfast cereal is going uptown
- What changed? How did breakfast cereal become too much work?
- What do we mean by that ?
- Perpetual motion machine
- Sources: http://danschawbel.com/blog/39-of-the-most-interesting-facts-about-generation-z/ http://danschawbel.com/blog/74-of-the-most-interesting-facts-about-the-millennial-generation/ http://fortune.com/2015/05/27/7-facts-every-business-should-know-about-millennials/ https://www.whitehouse.gov/sites/default/files/docs/millennials_report.pdf http://digiday.com/brands/2014-year-millennial-media-consumption/
- To give you an idea of how bad it has become: in the 1970s, people we exposed to an average of 500 marketing messages per day. In 2015 it was 5000 messages. That’s a lot of messages… and it doesn’t even include all the personal stuff, work emails, whatsapp messages, messages from the in-laws etc.! Many of you will also be familiar with the goldfish example that is often used by marketers. It’s been done to death, but for those of you who haven’t heard the stat: In the year 2000, humans apparently had a 12 second attention span. In the year 2015 that has dropped to a little over 8 seconds. Apparently a goldfish has an attention span of 9 seconds – so congratulations marketing. You have succeeded in pushing the species below a goldfish!
- So consumers could ask, “why should I give you 8 seconds of attention?”
- And, why does it matter? According to recent research, humans have an attention span of 8 seconds. Below that of goldfish (9 seconds)
- In fact, we are such a distracted species, that there are several studies that point towards smartphones changing our brains and the way we process information. And now scientists are are pointing (our little) attention towards something called: Continuous partial attention (CPA), which is the process of paying simultaneous attention to a number of sources of incoming information, but at a superficial level. My gf/wife says I am only in the PA state. Partial attention!
- So we have way too many marketing messages, we are changing the way people pay attention and in the midst of all this, I received this message a few weeks ago from my new colleague in the London office. Does anyone know what it means? Wtf…Yeah, everyone knows this one
- tl; dr means too long, didn’t read. I thought I was a young millennial and knew my way around acronym, but I had to Google this. We have changed people’s attention span so much, that there is an accepted acronym for s.t. that was too long to read…
- So we know that Consumer Behavior is changing rapidly with attention decreasing and consumers being overwhelmed by messages. So how do consumers behave on their customer journey these days? They live in moments. Google released a highly influential report late last year in which they analyzed a whole bunch of data and realized that the consumer journey is so fragmented and shifting rapidly to real-time on mobile, with rapid jumps between research and readiness to buy, that they coined the term “Micromoments”. And Google made a really good video, which sums up the phenomenon really well, which I would like to show you now…
- There are 4 main Micromoments that Google defines: I want to know… looking up info on the fly, second and third screen phenomenon. I want to do… Tutorials… We turn to the digital world for help. Cooking, fixing stuff, figuring out how a software program works… Tell personal story here. I have no idea about washing machines (something my wife has in fact told me for years…). And I certainly have no idea how to fix one. What did I do a few months ago when ours broke? I googled youtube tutorials on possible problems, how to check and fix standard washing machines. Guess what? It worked! I want to go… 2x increase in „near me“ searches – iBeacons can be an important trigger I want to buy moments… the holy grail. According to Google‘s study, 82% of smartphone users consult their phones whilst in store. Imagine a brand‘s algorithim programmed to monitor related hashtags and pushing messages to enter the conversation in real-time.
- And now comes the really interesting part and the part that is key to marketers. Google has found out that as the desire to fulfill one’s own needs increases, brand loyalty decreases
- What does this mean? Let me give you a quick example. Julia, on the slide here, is stuck in New York. Her plane has just been cancelled (maybe she flies >insert airline name<). Normally, she tries to stay in Marriot Hotels, as she is a clubcard holder and likes to collect the points and upgrade her room etc. Now imagine that in this moment she receives a message from Hilton Hotels. “Hi Julia, sorry to hear your plane was cancelled. We’ve got a quick, one-click-booking special offer for you here.” Now in this scenario Julia’s needs are met in the moment. The likelihood of her booking is extremely high, as she is thinking of fulfilling her own needs (rest and sleep) quickly. And we can spin this example plenty of ways… You normally drink starbucks coffee, you fancy an afternoon coffee and receive a message from a different coffee store, giving you discount and a free muffin if you pop in within the next hour.
- To succeed in this complex marketing landscape, we at Selligent believe there needs to be a serious mindset shift.
- We believe that there needs to be a shift from putting the channels at the heart of everything a brand does, to the consumer.
- To clarify what we mean: A traditional approach looks at the channels and the data first, before developing the message, with consumer considerations coming last.
- In a consumer-first approach, we flip the whole foundational idea on its head. The consumer is the delicate and precious resource on which everything depends. And a huge amount of integrity, empathy and relevance is the foundation for the consumer.
- There are many creative ways to be contextual. Redfin ran a very successful campaign that leveraged a weather condition that is pretty contextual for where we are today. Redfin was able to identify customers who had bought a home recently in a region that was affected by a snow storm. It then automated messages from the agent that asked how the home looked in the snow and if they had any weather related issues that Redfin could help with by connecting them with relevant service providers. By taking this personal touch, they got a very high engagement rate and a lot of positive replies thanking them for thinking of them. It’s a simple campaign but powerful in deepening customer relationships.
- The benefits to our technological and strategic approach is that life is made easier for our customers through being able to orchestrate across channels. Will touch on the points above.
- Our competitors like Adobe, Oracle, Salesforce building their platform through executions that aren’t integrated vs. us building a unified platform where all of the relationship marketing channels can be easily executed through one platform.