MARKETING 3.0 Marketing 3.0 Out with the old In with the new
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ETING 3.0
Marketing 3.0 Out with the old In with the new
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ETING 3.0
Early marketing was easy
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ETING 3.0
But consumers became smarter ���and distrustful of marketing
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ETING 3.0
As a result marketing���has had to evolve
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ETING 3.0
But some marketers are ���stuck in the past
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ETING 3.0
They’re still using old metrics ���with new media
• Impressions • Reach • Frequency • Ad recall • CPM • Mass market segmentation
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ETING 3.0
Hint: Impressions are meaningless
• It’s engagement you should be measuring because engagement is not given, it’s earned by what you do and how you respond to your customers needs and feedback.
• Is your marketing the kind of marketing that people want to interact with ?
• Is your marketing the type of marketing that people want to share with others ?
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ETING 3.0
And consumers are���laughing at them
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ETING 3.0
But in order to stay relevant���marketing is changing again���
Marketing 1.0 Product-centric
Marketing 2.0 Consumer-centric
Marketing 3.0 Value-centric
Objective Sell products to the masses
Satisfy customers & brand loyalty
Meet emotional and rational needs of
consumers Enabling Forces Industrial Revolution Information technology Connectedness of
consumers
How marketers see the market
Mass market Smarter consumers & mass market
People instead of segments
Key Marketing Concept
Product driven market Differentiation Value of product to consumers emotions
Value Propositions Functional Functional & emotional Functional, emotional & rational
Interaction with consumers
Mass communication Micro segmentation Consumers collaborate with each other
Power of branding Marketers/companies Marketers/consumers Consumers
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ETING 3.0
Marketing 3.0���In a nutshell
Deliver Satisfaction
Profit Ability
Be Better
Realize Aspiration
Return Ability
Difference
Compassion
Sustain Ability
Make a Difference
Mind Heart Spirit
Mission (Why)
Vision (What)
Values (How)
INDIVIDUAL
COMPA
NY
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ETING 3.0
What led to marketing 3.0 ?
• The age of participation and collaborative marketing via the Internet. – People create new ideas and talk to
each other via social media. – People trust each more than
marketers. – Recession has shaken the core values
of most consumers (shift from wants>needs).
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ETING 3.0
More collaboration tools means ���more trust between consumers
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ETING 3.0
At a time when customers are ���demanding more ���
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ETING 3.0
Therefore organizations need���more brand credibility
Trust Authenticity Transparency
Confidence Consistency
Integrity Authority
As promised Real & Sincere
Real People Informal
No Secrets Easy to find
Easy to understand No Hiding
Affirmation Listening Responsiveness
Playback Reinforcement
Search Placement Community
Empathy “Welcome”
Humility Feedback
Follow-up Making changes
Acknowledgement Thank you
Six drivers of brand credibility
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ETING 3.0
Because company outputs don’t ���always match customer expectations
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ETING 3.0
Marketers need to understand that ���social communities have cycles
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ETING 3.0
Everyone can be���an influencer
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ETING 3.0
Mass Connectors & Mavens rule���Can you really ignore them ?
But don’t ignore the power of one to influence others
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ETING 3.0
Demographics of mass influencers
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ETING 3.0
You only have one chance to make a��� first impression, make it count
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ETING 3.0
And with all this going on ���collaborative media is evolving
"The web is at a really important turning point right now” "We're building toward a web where the default is social."
Mark Zuckerberg CEO Facebook
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ETING 3.0
The percentage of weekly social media users is at 73% of the online population.���
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ETING 3.0
So….
Adapt to MarkeMng 3.0 or perish
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ETING 3.0
Kotler’s Ten Credo’s ���of Marketing 3.0
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ETING 3.0
1: Love your customers, respect ���your competitors
• Win their loyalty by giving them great value and connecting with them emotionally.
Example: • Cambell’s Soup changed the color of its
packaging during Breast Cancer Awareness Month and improved demand significantly
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ETING 3.0
2: Be sensitive to change and be���ready to transform
• Business landscape is changing and competitors are getting smarter along with your customers.
Example: • Wal-Mart’s transformation from low-
low prices to green giant.
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ETING 3.0
3: Guard your name���Be clear about who you are
• Brand reputation is everything thus ensure that you communicate your positioning and differentiation to your target market.
Example • Body Shop practice of community trade and purchasing natural
ingredients from local and poor communities around the world.
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ETING 3.0
4: Customers are diverse���Go first to those who can benefit from you
• Simple principle of segmentation but you can’t and should not try and be all things to everyone.
Example: • Apple iPad is not a mass market product
and Apple has never strived to be a mass market product. They focus on a unique segment of early adapters and technology lovers which leads to higher margins per unit sale.
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ETING 3.0
5: Always offer a good package���at a fair price
• Price and product must match customers expectations not yours.
Example: • Target has positioned itself as the retailer
that offers great products at a fair prices and by doing so is attracting more of a upper middle class audience who is willing to spend more money.
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ETING 3.0
6: Always make yourself available���Spread the good news
• Don’t make it hard for customers to find you.
Example: • Amazon.com uses search to direct consumer directly to
product pages when they search for specific products. • Whole foods has a store locator on their home page.
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ETING 3.0
7: Get customers, keep them���grow them
• Get to know your customers one on one so you have a complete picture of their needs, preferences and behavior.
Example: • Amazon.com builds recommendations based on past customer
purchases and delivers personal recommendations via customized home page and email.
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ETING 3.0
8: Whatever your business,���It’s a service business now
• You must have the spirit of wanting to serve your customers.
Example • Whole Foods sees its business as a service to customers and
society. It tries to transform the lifestyle of customers into healthy ones.
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ETING 3.0
9: Always refine your ���business processes
• It’s a never ending process, exceed your promises to customers & suppliers.
Example • S.C. Johnson is well-known for doing business with local
suppliers. It works with local farmers to improve productivity and delivery.
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ETING 3.0
10: Gather relevant information,���but use wisdom in making decisions
• Keep learning and use your accumulated knowledge & experience to make decisions.
• Consider more than the financial impact of a decision.
Example: • Eli Lilly, a pharma company is allocating more money to R&D
to develop new drugs even though it has resulted in a lower ROI for Wall Street and investors.
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ETING 3.0
Also don’t forget Rich’s ���additions to these Credos
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ETING 3.0
11: You’re only as good as ���your employees
• The best branding and marketing in the world cannot make up for an employee who doesn’t care about your customers.
Example: • Zappos goes out of their way to train and retain talented
people. They will even pay people $2000 to quit because people that are more interested in money that job satisfaction are not employees they value.
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ETING 3.0
12: You can’t rely on outdate ���marketing in an era of new media
• Impressions, reach, frequency, ad recall mean little today. • Stop trying to quantify everything with a spreadsheet analysis
because your competitors are doing the same thing. • Stop thinking CPM, ARP, and mass marketing. Start thinking
like a consumer.
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ETING 3.0
13: Don’t cut costs when it comes ���to customer service
• “If my call is so important to you then why am I on hold with a recorded voice telling me “my call is important to you”.
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ETING 3.0
14: Learn to listen before ���joining the conversation
• Would you walk up to two people at a party and start talking without finding out what they are talking about ?
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In summary…
• The recession has changed consumer behavior forever. • Consumers have more power than via the evolution of
collaborative tools on the Internet. • Stop using outdated marketing and realign processes around
your customers not your company. • Reward employees who deliver a great customer experience. • Think as a consumer..not as a marketer.
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ETING 3.0
About me
Richard Meyer • My resume http://www.richardameyer.com • My marketing BLOG http://www.richsblog.com • MY DTC BLOG http://www.worldofdtcmarketing.com
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