A good overview from Richard Meyer on the changes in marketing communication thinking and delivery

1. MARKETING
3.0
Marketing 3.0
Out with the old
In with the new

2. Early marketing was easy
MARKETING
3.0

3. But consumers became smarter
and distrustful of marketing
MARKETING
3.0

4. As a result marketing
has had to evolve
MARKETING
3.0

5. But some marketers are
stuck in the past
MARKETING
3.0

6. They’re still using old metrics
with new media
• Impressions
• Reach
MARKETING
3.0
• Frequency
• Ad recall
• CPM
• Mass market segmentation

7. 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
MARKETING
3.0
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 ?

8. And consumers are
laughing at them
MARKETING
3.0

9. But in order to stay relevant
marketing is changing again
Marketing 1.0
Marketing 2.0
Marketing 3.0
Product-centric
Consumer-centric
Value-centric
MARKETING
3.0
Objective
Sell products to the Satisfy customers Meet emotional and
masses
brand loyalty
rational needs of
consumers
Enabling Forces
Industrial Revolution
Information technology
Connectedness of
consumers
How marketers see the Mass market
Smarter consumers People instead of
market
mass market
segments
Key Marketing Product driven market
Differentiation
Value of product to
Concept
consumers emotions
Value Propositions
Functional
Functional emotional
Functional, emotional
rational
Interaction with Mass communication
Micro segmentation
Consumers collaborate
consumers
with each other
Power of branding
Marketers/companies
Marketers/consumers
Consumers

10. Marketing 3.0
In a nutshell
Mind
Heart
Spirit
INDIVIDUAL
COMPANY
MARKETING
3.0
Mission
(Why)
Deliver
Realize
Compassion
Satisfaction
Aspiration
Vision
(What)
Profit
Return
Sustain
Ability
Ability
Ability
Values
(How)
Be
Difference
Make a
Better
Difference

11. What led to marketing 3.0 ?
• The age of participation and
collaborative marketing via the
MARKETING
3.0
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
wantsneeds).

12. More collaboration tools means
more trust between consumers
MARKETING
3.0

13. At a time when customers are
demanding more
MARKETING
3.0

14. Therefore organizations need
more brand credibility
Trust
Authenticity
Transparency
Confidence
As promised
No Secrets
MARKETING
3.0
Consistency
Real Sincere
Easy to find
Integrity
Real People
Easy to understand
Authority
Informal
No Hiding
Affirmation
Listening
Responsiveness
Playback
Empathy
Follow-up
Reinforcement
“Welcome”
Making changes
Search Placement
Humility
Acknowledgement
Community
Feedback
Thank you
Six
drivers
of
brand
credibility

15. Because company outputs don’t
always match customer expectations
MARKETING
3.0

16. Marketers need to understand that
social communities have cycles
MARKETING
3.0

17. Everyone can be
an influencer
MARKETING
3.0

18. Mass Connectors Mavens rule
Can you really ignore them ?
MARKETING
3.0
But
don’t
ignore
the
power
of
one
to
influence
others

19. Demographics of mass influencers
MARKETING
3.0

20. You only have one chance to make a
first impression, make it count
MARKETING
3.0

21. And with all this going on
collaborative media is evolving
The web is at a really important turning point right now”
MARKETING
3.0
We're building toward a web where the default is social.
Mark Zuckerberg
CEO Facebook

22. The percentage of weekly social media
users is at 73% of the online population.
MARKETING
3.0

23. So….
MARKETING
3.0
Adapt
to
MarkeMng
3.0
or
perish

24. Kotler’s Ten Credo’s
of Marketing 3.0
MARKETING
3.0

25. 1: Love your customers, respect
your competitors
• Win their loyalty by giving them great value
and connecting with them emotionally.
MARKETING
3.0
Example:
• Cambell’s Soup changed the color of its
packaging during Breast Cancer Awareness
Month and improved demand significantly

26. 2: Be sensitive to change and be
ready to transform
• Business landscape is changing and
competitors are getting smarter along
with your customers.
MARKETING
3.0
Example:
• Wal-Mart’s transformation from low-
low prices to green giant.

27. 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.
MARKETING
3.0
Example
• Body Shop practice of community trade and purchasing natural
ingredients from local and poor communities around the world.

28. 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.
MARKETING
3.0
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.

29. 5: Always offer a good package
at a fair price
• Price and product must match customers
expectations not yours.
MARKETING
3.0
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.

30. 6: Always make yourself available
Spread the good news
• Don’t make it hard for customers to find you.
MARKETING
3.0
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.

31. 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.
MARKETING
3.0
Example:
• Amazon.com builds recommendations based on past customer
purchases and delivers personal recommendations via
customized home page and email.

32. 8: Whatever your business,
It’s a service business now
• You must have the spirit of wanting to serve your customers.
MARKETING
3.0
Example
• Whole Foods sees its business as a service to customers and
society. It tries to transform the lifestyle of customers into
healthy ones.

33. 9: Always refine your
business processes
• It’s a never ending process, exceed your promises to customers
suppliers.
MARKETING
3.0
Example
• S.C. Johnson is well-known for doing business with local
suppliers. It works with local farmers to improve productivity
and delivery.

34. 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.
MARKETING
3.0
Example:
• Eli Lilly, a pharma company is allocating more money to RD
to develop new drugs even though it has resulted in a lower
ROI for Wall Street and investors.

35. Also don’t forget Rich’s
additions to these Credos
MARKETING
3.0

36. 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.
MARKETING
3.0
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.

37. 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.
MARKETING
3.0
• Stop thinking CPM, ARP, and mass marketing. Start thinking
like a consumer.

38. 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”.
MARKETING
3.0

39. 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 ?
MARKETING
3.0

40. In summary…
• The recession has changed consumer behavior forever.
• Consumers have more power than via the evolution of
collaborative tools on the Internet.
MARKETING
3.0
• 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.

41. About me
Richard Meyer
• My resume http://www.richardameyer.com
• My marketing BLOG http://www.richsblog.com
MARKETING
3.0
• MY DTC BLOG http://www.worldofdtcmarketing.com
h/p://www.twi/er.com/richmeyer
h/p://www.facebook.com/richardameyer
h/p://www.linkedin.com/in/richardameyer