Succeeding in the Infinite Future 3 systems for success A presentation created for Argyle Summit Boston 2015
Succeeding in the Infinite Future 3 systems for success
A presentation created for Argyle Summit Boston 2015
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What is the biggest problem marketers face?
#1 New Business Development
We asked 5000 B2B and B2C marketers this question:
They said: (http://www.salesforce.com/research)
Q
A #2 Quality of leads #3 Keeping up with trends
What is the biggest problem marketers face?
We asked 5000 B2B and B2C marketers this question:
Q
A How do we drive business amidst an entirely new consumer landscape?
Industrial Revolution
Taught us marketing was a by product of production, and the businesses had complete control of information about products, and the buying process. There were only 5 media channels.
Limitless Channels There are currently 200+ channels, and Gartner
predicted in 2014 that by 2017 the CMO would have the largest IT budget in the company, taking it away from the CIO.
Media Ubiquity More people in the world have access to a mobile
phone than have access to clean drinking water or electricity. The effects of this are only now beginning to be fully understood.
Limitless Media On average there are 1,500 posts waiting for you on
Facebook, and on average you check Facebook 17 times per day (Ages 35-49). You also have 7.4 social channels on average.
Limitless Media Is very different This is over 12 hours per day, across
multiple screens. Tangling up work life, personal life, and everything else together.
CNN reports there will be 50 Billion connected devices by the year 2020. That would mean devices out number people 7 to 1. Each device can create, distribute, and consume content as well, making them the largest creators of noise.
Internet of Things
He Proved Media Consumption Changes
Human Actions Marshall McLuhan denotes how media has changed every society in his foundation text “Gutenberg Galaxy”. Campaigns have not caught up to the modern human, or how we use media.
“For Richard Nixon to win the presidency he must lose 10
pounds.”
-‐Marshall McLuhan
“We now disqualify before we qualify”
We are faced with so much content we now disqualify content before we even begin to qualify it. This is a technique we learned on our own (heuristic) and use it as the standard way we now filter large sets of
data.
Attention Spans The average human based on a Microsoft study in
2013 has an average attention span of 8 seconds. This does not mean make “Snack-able Content”. This means you must deliver value faster.
NINE SECONDS
Goldfish have an a3en4on span of
Buyers harness more power when they do a single Google search than all of NASA had in 1969 to land a man on the moon. Anything can be found in an instant, and if it’s not they they leave.
INSTANT RESULTS
80% Bounce Rate
On visits from Adwords
71% Have been Disappointed by content
25% Will never re-engage If disappointed once
1.70 Page views
Per visit to your site
Why should you even care about this. You already have social media. You
already do content marketing. You’ve read the latest blog post from the experts, and do lead nurturing. Why should you
care?
Why Care?
Our systems Don’t work For every 100 leads an aveerage
company generates they close .7 of them into actual business.
1.5 Forester estimates for every 100 leads a B2B company generates, best in class only converts 1.5 into revenue.
Production, Technology, Distribution, and Reach are all democratized making the relationship you have with your consumer the only sustainable competitive advantage.
Large Scale Failure
of Fortune 500 companies are removed from the list in Last decade (2004-2015) 1/3
Content product is the largest single item in a marketing budget at 16% of the total budget. This is a result of the modern buyer and the marketer owing 80% of the sales cycle by 2020.
Massive Inefficiencies
Of content a business creates never gets utilized. 70%
- SiriusDecsions Report
We need New Systems We need a new coherent body of
ideas or principles which take into account the changed environment. Not just iterations of the old ones.
These are Not Systems You’ll likely say, “But I’ve got social media, marketing
automation, and do content marketing. I’ve got new systems”. You are wrong. You have new tools, and channels. We still use your same old systems, just on new channels.
Net Positive System 01
The company must have an understanding that limitless interactions must be controlled by a company Mindset of positive experience, or fail at the death of departmental campaigns.
Ship My Pants
National retailer spends millions on a campaign to get people to shop in their stores. The campaign was based off of an award winning tag line “Ship My Pants”. Yet it ended at very sour experience for many.
“SHIP MY PANTS” �Infinite
Media Hurts Upon a Google search to find the local store the average review is 2.9 out of 5. Creating a bad impression directly following the positive impression of the “Ship My Pants” campaign.
“SHIP MY PANTS” �Net Positive Experience
Upon going to the website to then purchase the website was broken. This now has created a “NET NEGATIVE” effect and the only way to win this consumer back is to spend more money. This is not sustainable.
“It is not the height of your highs, but the valley of your lows which will shape your brand”
-Andrew Davis, Author of Brandscaping
“ “
This is the value of the “switching economy” this means switching from one product to another. This
makes the economy of switching the 10th largest economy in the world.
$1.7 Trillion
It takes
- “Understanding Customers” by Ruby Newell-Legner
Positive experiences to make up for one
unresolved bad experience.
Relationships are hard to substitute! Having everyone in your company with the same mindset is the only sustainable way for you to proactively protect your brand from the infinite amount of content and create a net positive experience for every customer across all touch points. This is why companies like AT&T give CX a seat at the Executive Table.
Customer Experience belongs in
the C-Suite
Desirable Relationships 02
The human desire has shifted over time, yet our marketing practices are still based on the idea of mass publication is valuable to consumers. We must re learn what consumers desire, and what creates a valuable relationship for them.
Building relationships with consumers inner desires is what we should be focused on
Edward Bernay’s created Public Relations after learning from his
uncle Sigmund Freud the power of the unconscious mind. He create a
new form of strategic marketing which built relationships between
products and consumers inner desires.
Relationships focus on Human Desire
Experiences Are Made of
“Content”
Wrote “Permission Based Marke4ng” in 1999. The forward to this book was Don Peppers who co-‐authored “The One to One Future” wriaen in 1993. Yet, most of us just see “Content” as something we create and mass distribute.
“Our job is to connect with people, and leave them better off than when we found them” - Seth Godin
“Consumers want honest and
authentic experiences”
-Joseph Pine II
Author of the Experience Economy, Authenticity, & Infinite
Possibilities
Nobody Ever Said “I want content”
They decide engage with content to solve goals, they engage with it because
it aligns with their purpose
The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. We need to be relationship brands.
Media
Brands?
Path to Purpose
Google research done in 2013 proves it is no longer a linear journey to purchase, but rather helping consumers meet their purpose. When you do you increase purchases by 42%.
Honest experiences help them fulfill their inner desires, and discover their purpose.
Fight Boredom
PEW research found that 51% of the time a CEO picks up their mobile device because they are BORED. We use the internet to fight boredom. This is the purpose at that time. It can lead to other things via passive discovery.
Escape !People wanting to escape will lean on self discover and
social channels. They are looking to escape their work, life, job, and take a short break. No barring on sales readiness. However the escape must be an honest, escape. It can not
be contrived by a business, but must be found by the person.
Read this article for more on creating humor in your content: http://www.clickz.com/clickz/column/2389218/create-better-content-via-humor
Kronos Case Study Kronos, a workforce
management software company, uses a weekly
comic to engage with their audience. Their comics are
consistently shared on LinkedIn two to 10x more than their corporate blog
posts.
Discover Things
The top 5 websites in the world are all “Search Engines”. We use search engines to discover things, but actively and passively.
Discover!Discovery is one of the greatest gifts of the internet. We
have both passive and active discovery modes.
Active Discovery: Direct searches on the internet Passive Discovery: When you scroll down in Facebook
Self Discovery The highest form of value the internet provides
to a human is self discovery. The instant nature to find what ever, and fulfill any purpose or desire instantly.
“Mass Publishing is the lowest form of value the internet provides”
-‐David Weinberger ( Co-‐author of Cluetrain
Manifesto)
ActiveDiscovery
Anytime you do a search you are engaging in “Active Discovery” This is when you are looking, seeking, or wanting to find a specific item. “Amazon.com strives to be the e-commerce destination where consumers can find and discover anything they want to buy online.” – Jeff Bezos
PassiveDiscovery There is value in helping people discover
things. Amazon hires 473 “Data Scientists” to study their conversions, and it’s effect on the customer relationship. If they do something look at why.
Presence!Is the content which consumers create about themselves to
validate the mediated self they are projecting. Simply engaging with this is fulfilling their purpose, and is
helpful, and does not require you to create more content.
Mediated Self
On average we have 7.4 social channels and project a different self on each one. The value to us is in expressing our being, and having that desire validate by others. The Power of a Like!
“When you see people voting up your answer or adding their own replies in real time it makes you realize there’s a good group of people reading your stuff. I don’t get that immediate rush on my blog”
-Robert Scoble, Futurist and Social Media icon
“ “
Modern Media Releases Dopamine
To Be Released
Causing positive relationships, and a Pavlovian response to engagement. The New York Times, called Dopamine “The Molecule for Mo4va4on” in their 2009 ar4cle on neuroscience. hap://www.ny4mes.com/2009/10/27/science/27angier.html?_r=0
Dynamic Relevance 03
Building a system of relevance is the only way to scale personal relationships and create desirable experiences at scale required across infinite channels.
This Is the old way of thinking about conversion. How do we make content, and drive people to it. Now we take a new approach with dynamic journeys.
Static Experiences Follow Historical
Logic. Stop it!
Single View Of Customer
Buyers become highly fragmented beings across multiple channels. They are always connected, and always on. The only way to reach them is to know more about them, and understand what it takes to really be relevant to the modern buyer.
You no longer compete with those in your own industry, but rather the best of those fields. Consumer are now comparing all experiences against each other rather than against their ver4cal.
Behavioral Data
You no longer compete with those in your own industry, but rather the best of those fields. Consumer are now comparing all experiences against each other rather than against their ver4cal.
Psychographic Data
Also combine with all other internal data, created in a CRM.
Internal CRM Data
Authentic Journeys
Requires you to know each and every person, and demands a system of relevance which touches all aspects of your business. This puts the customer success platform at the heart of your marketing efforts. Then allows for scaling across all channels, with dynamic and predictive personalization. Facilitating both passive, and active discovery.
Companies using predicative content on average are seeing an increase in revenue by 15% because it help facilitate discovery, and fulfills modern desire.
Predictive Content Dynamic content suggests
the best next piece of content given set algorithms
of most likely engagement.
Owned Experiences Creating customized
experiences also needs to happen both on your
website and via the email content.
+15% Revenue
99% of all organisms who have ever lived on the earth are extinct due to environmental changes. The modern environment has changed the consumers desires a new type of mediated relationship. They will not respond to forced campaigns, and value self discover above all things. Creating a relationship able to support self discovery, and always be contextually relevant will require a new set of marketing systems. You only have one other alternative. Extinction.
Raphus cucullatus “DoDo Bird”
Conclusion: