Traditional marketing isn't working. While digital "pull" marketing continues to produce results, the effectiveness of traditional "push" marketing through traditional channels is dwindling.
2. Thursday, June 16, 2016 CONFIDENTIAL 2
Across all industries and verticals, statistics show
that traditional marketing is broken
18%Of TV advertising
campaigns generate
a positive ROI
54¢
Is the average return in
sales for every $1 spent
on outbound marketing
40%Of CMOs feel unprepared to meet
consumer expectations about
marketing in the future
7%Of companies have achieved
leading edge performance with
digital marketing
79%Of marketing leads are never
converted into sales due to poor
lead nurturing
The old ways of marketing just aren’t working anymore, and jewelers are ill prepared
to capitalize on newer, more targeted digital marketing tactics.
Sources: Connected Marketing (Kirby & Marsden), Turbulence for the CMO (Accenture),
MarketingSherpa, MarketingProfs.com
9%Of marketers describe offline direct
marketing as providing an “excellent”
ROI
3. Thursday, June 16, 2016 CONFIDENTIAL 3
Recent data indicates how marketers are moving
away from traditional “push” channels
Source: IDG Enterprise 2013 Lead Generation Marketing Trends
Digital “pull” marketing
tactics – where you bring
customers interested in
your products to you –
continue to demonstrate
returns…
…while traditional “push”
marketing through
traditional channels
continues to fall out of
favor with marketers
4. Thursday, June 16, 2016 CONFIDENTIAL 4
What marketing is not:
With a huge proliferation of marketing channels, you can now interact with
tiny segments of your audience multiple times a day – and you have to. No
longer can you spend money on 1-3 channels and know you’ll have success.
NOT Easy
Many business owners think of marketing in terms of tactics, but successful
marketing depends on a holistic, strategy-based approach. You can’t achieve
success without integrating all initiatives and defining your business goals.
Despite what you may have experienced, marketing is more than a tagline or
the next big idea. Far beyond creative materials, marketing is fundamentally
about generating business and driving bottom-line results.
A successful marketing strategy can no longer rely on paying to get in front of
prospects. Today you have to focus not on paid media but on owned and
earned media, building differentiated assets that are worth sharing.
NOT a Tactic
NOT a Catchy Idea
NOT Pay to Play
5. Thursday, June 16, 2016 CONFIDENTIAL 5
What marketing is not:
Effective marketing today is all about storytelling. You can’t rely on a dry
presentation of facts through traditional messaging – successful marketers
create stories that humanize their products and engage their audiences.
NOT Corporate
Interactions involved in the customer decision process now extend far
beyond your marketing department. To improve all touch points, marketing
must pervade your entire organization – we’re all marketers now.
Marketing today is no longer the first step leading up to a sale. With so many
opportunities to connect with your customers, marketing has to focus on
their journey with your company before, during and after any transactions.
NOT a Department
NOT a Transaction
Marketing is changing, and past strategies must give way to a new focus on customer
interactions
6. Thursday, June 16, 2016 CONFIDENTIAL 6
Branding and marketing are not one in the same
Branding Marketing
Branding involves creating a
differentiated name and image in
order to establish a presence in the
consumer's mind and attract and keep
customers.
Your DNA, mission, values, people,
promise, message…raison d’etre
Marketing is the concerted effort to
grow an organization through the use
of the tactics and channels at your
disposal. Example tactics include paid
media, email, SEO.
Initiatives can be measured and
quantified (ROI, ROAS, COA)
One cannot flourish without the other. Oftentimes manufacturers skip to marketing
and overlook the power of a brand
7. Thursday, June 16, 2016 CONFIDENTIAL 7Thursday March 29th 2012 7
Traditional marketing is broken.
Focus efforts on building out your marketing assets versus paying for
traditional marketing tactics after the fact
Marketing is not taglines, logos and brochures.
EarnedOwned Paid
Replace the sales funnel with a “Paid”, “Owned”,
“Earned” marketing vocabulary
8. Thursday, June 16, 2016 CONFIDENTIAL 8
Marketing can be divided into three buckets
Owned and earned media depend on your
marketing assets. Your company must take
the time to build out a clear message,
differentiate yourself in the market, and
develop new marketing assets to support
your story
Source: McKinsey Quarterly, November 2010
Most business owners focus on paid
media, but owned and earned media are
key to engage prospects and customers
with your brand, and to achieve a long-
term marketing advantage for your
company
9. Thursday, June 16, 2016 CONFIDENTIAL 9
Think of marketing as a customer journey with your
brand
Marketing should serve two functions: first, to spur interest in your brand, and second, to
identify and strengthen every customer touch point. Marketing decisions must now be made
through the lens of your customers, keeping their long-term journey with your company in mind
Brand Content
Awareness
Customer
Service
Fostering
Communities
Brand
Advocacy
Product
Launches
Targeted Deals
Customer Input
ReferralsBrand
Monitoring
Crisis
Management
Consider
Evaluate
Buy
Experience
Advocate
Bond
Monitor
for trends and
insights
Respond
to customer
comments
Amplify
positive
activity/tone
Lead
customer
opinion shifts
StepsinCustomerDecisionJourney
Select, prioritize and budget the appropriate
channels to create top of mind awareness
Monitor how customers are judging your brand,
especially as you are launching new products
Leverage CRM, landing page and E-commerce
platforms to ensure a seamless buying
experience
Interact with customers during their initial
usage of your product
Make sure that any positive customer feedback
is broadcast to other potential customers
Keep interacting with strong brand advocates
and offering rewards to loyal customers
10. Thursday, June 16, 2016 CONFIDENTIAL 10
Mapping out a customer’s journey with your
company - both pre and post purchase - is essential
Marketing should serve two functions: first, to spur interest in your brand, and second, to
identify and strengthen every customer touch point. Marketing decisions must now be made
through the lens of your customers, keeping their long-term journey with your company in mind
11. Thursday, June 16, 2016 CONFIDENTIAL 11
Marketing is also about storytelling.
Marketing should serve two functions: first, to spur interest in your brand, and second, to
identify and strengthen every customer touch point. Marketing decisions must now be made
through the lens of your customers, keeping their long-term journey with your company in mind
12. Thursday, June 16, 2016 CONFIDENTIAL 12
It’s about becoming a thought leader in your
space by developing great content
Marketing should serve two functions: first, to spur interest in your brand, and second, to
identify and strengthen every customer touch point. Marketing decisions must now be made
through the lens of your customers, keeping their long-term journey with your company in mind
13. Thursday, June 16, 2016 CONFIDENTIAL 13
Marketing has also entered the 21st century with
the onset of powerful automation tools
Marketing should serve two functions: first, to spur interest in your brand, and second, to
identify and strengthen every customer touch point. Marketing decisions must now be made
through the lens of your customers, keeping their long-term journey with your company in mind
14. Thursday, June 16, 2016 CONFIDENTIAL 14
The perfectly laid out marketing plan will never reach its
potential without proper planning and execution
15. Thursday, June 16, 2016 CONFIDENTIAL 15
7 marketing myths
SEO is important to generate traffic and support your
website and online initiatives, but SEO alone will not
generate leads for your business
One-off email blasts are not enough to drive leads - you
need a strategic campaign with targeted messages for each
step in the customer journey
Using Google paid search can be effective, but optimization
requires constant management and strategic keyword and
ad group set up
While social media is important, the truth is these channels
generate only 4% of company leads and even less for B2B
companies
???
“SEO is all I
need…”
“But I sent an
email…”
“I set up paid
search ads…”
“I have to be on
social media…”
16. Thursday, June 16, 2016 CONFIDENTIAL 16
At its core, marketing is about generating business
Like any other department in your company, you must judge your marketing efforts based
on results, not awards.
With new capabilities to
quantify marketing
success, you must hold
your marketing
department accountable
for producing bottom-
line results and
generating business
17. Thursday, June 16, 2016 CONFIDENTIAL 17
7 marketing myths
The truth is, buying a list is no longer an effective way to
communicate with prospects, and your focus should shift to
other inbound tactics
TV and direct mail are no longer the only marketing
channels available, but they can still be effective and the
associated costs have come down dramatically
Cold calling can be effective, but only when integrated with
other marketing tactics to support outreach and provide
valuable content to prospects
“Our lists are
bad…”
“Traditional
media is dead…”
“Cold calling is
ineffective…”
18. Thursday, June 16, 2016 CONFIDENTIAL 18Thursday March 29th 2012 18
Plant seeds for the future while driving cash
flow in the short term
Successful CMOs understand the balancing act between long term asset
building and short term lead generation needs
19. Thursday, June 16, 2016 CONFIDENTIAL 19Thursday March 29th 2012 19
Marketing is not just about finding new business
More expensive to get a new
customer than to retain an
existing one
7x 80%
5% 33% 11
93%
Average number of people
with whom dissatisfied customers
share their experiences
Greater amount spent by
repeat customers compared to
new ones
The increase in customer
retention necessary to improve
profits by 25-75%
of future profits will come from
just 20% of your existing
customers
Of customers who feel that a
company’s reputation for
fairness is important
- Customer Thermometer
20. Thursday, June 16, 2016 CONFIDENTIAL 20
Put your money where
your mouth is:
Is your compensation
structure aligned with
providing wow customer
experiences?
Thursday March 29th 2012 20
Go Old-School
Design win-back campaigns to prospects:
“Gary Vaynerchuck retains 40% of his Wine Library TV
unsubscribers by having his team personally call each one.”
Show customers you care:
“I was amazed today to receive a gorgeous
bouquet of flowers wishing me well after going
into labor when I processed my order for Ugg
slippers”
- Zappos.com customer testimonials page
Train front line employees:
“We like to think of ourselves as a
customer service company that happens
to fly airplanes”
- Southwest Airlines
Send out customer surveys and interact:
Customers appreciate being included in the brand building
process. Feeling valued and being given a voice is half the battle
in retaining long term happy clients.
Interacting with your customers in humanizing ways is your strongest
marketing tool
21. Thursday, June 16, 2016 CONFIDENTIAL 21
“At the end of the day, customers no longer separate marketing from the
product - it is the product. In the era of engagement, marketing is the company.”
- McKinsey Quarterly
Marketing is not just a department –
it transcends the walls of your company
Marketing must be integrated into every
aspect of your business – call center, sales
force, receptionist, shipping, operations
Leading companies today view marketing as
something much larger than a department or
campaign
Thursday March 29th 2012 21
22. Thursday, June 16, 2016 CONFIDENTIAL 22Thursday March 29th 2012 22
Marketing is as much about your team as it is about
any external campaigns
Instill a client-centric culture
Take note of your favorite sports team
Surround yourself with ‘A’ players
Happy employees = happy clients
Surround yourself with employees who are motivated, who truly believe in
marketing and who exceed client expectations
23. Thursday, June 16, 2016 CONFIDENTIAL 23Thursday March 29th 2012 23
Marketing will be a failed self-fulfilling prophecy
if you don’t change your mindset
It’s about being genuinely vested in the marketing function in ways that
extend beyond a quick hit ROI
Marketing must be viewed as an investment
vs an expense if it has a chance of succeeding
and producing results
You are the final piece of the puzzle
24. Thursday, June 16, 2016 CONFIDENTIAL 24
Commit to being great and beating the dip
Many companies are not willing to invest the time
and money in developing a compelling story,
message and brand. Marketing done the right way is
hard work.
While you may not see the results right away, you
have to focus on becoming number one in your
niche. Marketing is not immediate, and it won’t
provide instant gratification, but you can’t succeed
in the long run without differentiating yourself
25. Thursday, June 16, 2016 CONFIDENTIAL 25
Thank you
“Because the purpose of
business is to create a
customer, the business
enterprise has two – and
only two – basic
functions: marketing and
innovation. Marketing
and innovation produce
results; all the rest are
costs. Marketing is the
distinguishing, unique
function of the business.”
– Peter Drucker
26. Thursday, June 16, 2016Thursday, June 16, 2016
Thank You
For additional information, visit
TribalVision.com
27. Thursday, June 16, 2016 CONFIDENTIAL 27
Marketing must generate business – but how?
After commissioning a survey of 450 marketing professionals, TribalVision identified multiple
tactics that have been effective at generating business for B2B and B2C companies
28. Thursday, June 16, 2016 CONFIDENTIAL 28
The two paths to generate new business
The two main strategies to generate business must focus on acquiring new customers and
acquiring new business from existing customers
Prospecting Customer Retention
Sources: Customer Thermometer, Marketing Wizdom
The Roads to New Business