marketing3 presentation-1196358928769946-5
TRANSCRIPT
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Marketing 3: On AccountabilityAlain Thys (http://blog.futurelab.net)
FUTURELAB
Feel free to re-use or mash-up this presentation under Creative Commons 2.0 license (non-commercial, attribution)
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FUTURELAB
Alain Thys: Jekyll or Hyde ?
As a retailer/VC/entrepreneur: Double digit ROI
As a marketer: Close to € 100,000,000 spent to date, and very little to show for it
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If you think marketers have an image problem
FUTURELAB
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What People Think of MarketersDon’t shoot the messenger
FUTURELAB
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Marketers are faddish, irresponsible, … don’t think like business people … more akin to a recalcitrant child …
McKinsey & Company, CEO/CMO Survey, 2005
FUTURELAB
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The average tenure of CMOs in consumer markets is 23, 15 or 12 months.
FUTURELAB
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FUTURELAB
Too many marketers have become so specialised that they don’t think in terms of the company’s big picture.
Philip Kotler
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Marketers are frivolous and difficult to approach
Australian Society of Certified Public Accountants
FUTURELAB
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Cranfield University
Withhold research Take credit for other’s work
Lack structure Are always in meetings
Work from 10 to 4 Have long lunches
Unaccountable, untouchableSeek quick promotions
ChurnCare about cars, stats and
lunchUse jargon
SlipperyExpensive
FUTURELAB
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"We can't compete on price. We also can't compete on quality, features or service.
That leaves fraud, which I'd like you to call marketing."
Dilbert’s Boss
cc 3
.0, M
egaq
wer
ty
FUTURELAB
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FUTURELAB Buy Stormhoek Wine
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FUTURELAB
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If you think marketers have an image problem
FUTURELAB
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Marketers need to become more « accountable » for themselves and for the benefit of the business..
The « outsider’s » perspective
• Marketing campaigns have unsure or negative ROI• Sales promotions don’t generate sales• Consumers get irritated by advertising• Most new value propositions fail in the market• The campaign presentation never reflects consumer reality• Marketing initiatives overpromise• …• And each year they come up with a new story
FUTURELAB
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The Marketer’s BushidoFUTURELAB
Changing marketing’s bad image
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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FUTURELAB
In spite of all “insights” and research, 95% of consumer products introductions and innovations fail to reach their ROI targets
How do you make a difference to someone who has infinite choice?
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German Traditional Chains vs. Hard discountersMcKinsey & Company, Nov 2004
FUTURELAB
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FUTURELAB
60% of sensory experience of drinking espresso comes from the retail environment (and you lose it when you go home)
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The Experience IS the Product
Insight Insight Insight Insight Insight
Acting on Insight in emotions, rationalisations and choice drivers at every step of the experience.
FUTURELAB
Insight Product
« Best Practice » is Insufficient
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Don’t forget to understand the “influencers”
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Understand what truly drives and moves me
... and those who influence me
... at every step of the overall experience you offer
Real Insight
FUTURELAB
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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FUTURELAB
RESPECT
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FUTURELAB
RESPECT ??
http://www.youtube.com/watch?v=D3qltEtl7H8
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Don’t treat me like a child“one message doesn’t fit all”
FUTURELAB
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Peopledon’t fitboxes
FUTURELAB
• 28-34• Online music, movies &
laser hair removal• Modest but dependable
disposable income
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To simplify and give meaning: Humans seek patterns, even where there are none
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“It’s the easy way out, and as long as we all do it, we’re fine”Romanian marketer
FUTURELAB
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Let go of mindless segmentation
Treat markets like “people”
Bring back the love
And you might get some in return
RESPECT
FUTURELAB
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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perception
80% of CEO’s believe of believe their brand provides a superior customer experience
8 % of their customers agree
(Bain & Company)
FUTURELAB
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We show that we value our customers by serving them well, putting their needs and interests at the center of everything we do.
(from the AOL mission statement)
FUTURELABhttp://www.youtube.com/watch?v=xaaAYVUWP0I
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Companies break their promises every single day.Does your business keep yours?
FUTURELAB
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Breaking promises in a WoM world is suicidal
FUTURELAB
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But I’m just a marketerThat is not my department …FUTURELAB
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YES IT IS …
Your brand communicates every time it touches a customer.
As a marketer you need to manage this communication.
This makes you responsible for each
“moment of truth”
FUTURELAB
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Source: DAVIS S., LONGORIA T., “Harmonising Your Touchpoints”, Brand Packaging, Jan/Feb 2003
Consider Each Moment of Truth as a Brand Expression
FUTURELAB
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In a million channel world, brands whose consumers tell the best stories, win
EXPERIENCES - EMOTIONS - STORIES
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Ensure that your brand tells the truth when it makes a promise
And when a promise is mademake sure it is kept
INTEGRITY
FUTURELAB
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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A Reminder from Tom
FUTURELAB
http://www.youtube.com/watch?v=9MaKHxsGZ-A
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Show Me the Money
Marketers say“Our advertising generates the branding and strong creative we need to differentiate ourselves in the marketplace.”
The CEO/CFO wants to hear…“Our analysis shows us that our € 3 million advertising campaign generated an incremental € 22.3 million in revenue.
We can continue to generate ROI up to a € 4.5 million ad spend, generating an additional € 10.6 million in incremental revenue, at which point broad media advertising becomes saturated for our market.”
Source: CFO vs. CMO Smackdown, PMD Professional, 2005
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MEASURE & PREDICT
Case: Indian Tea company, Greek Telco.
A Structural Answer: Multivariate and Agent Based Modeling
FUTURELAB
AGENT BASED MODELING
Case: US Packaged Consumer Goods Company
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Preference Purchase Repurchase Loyalty Advocacy
Pragmatism: Focus your money where it matters
IMPACT
0
2
4
6
8
10
12
14Average Media Consumption by Week (Europe), 2005
Sou
rce:
Nie
lsen
Inte
ract
ive
Eur
ope,
200
5
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Resist Orthodoxy
• Booking TV = higher margin• Standard rate-cards are less work• Digital avoidance is easier on the brain• Agency co-operation is inconvenient
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Establish structural measures to assess the financial impact of our marketing initiatives, in terms the
business can appreciate.
Meanwhile, at least allocate your funds where they generate most
impact for the business.
In short, show me the money
FINANCIAL ACUMEN
FUTURELAB
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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90% of businesses are unable to execute the strategy they have on paper
70% of businesses project performance they will never attain
Houston, we have a problem
Source: Axon, L. Learning to lead: How Companies Grow Profits by Growing Leaders, Sept 22,2004Source: Norton, D. Aligning your Strategy to the Customer Value Proposition, 13/9/2005
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Source: Norton, D. Aligning your Strategy to the Customer Value Proposition, 13/9/2005
Only 5% of the workforce understands what the strategy is
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FUTURELAB
THE MOMENT OF TRUTH
Your brand communicates every time it touches a customer.
As a marketer you need to manage this communication.
This makes you responsible for each
“moment of truth”
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YET THEY ARE THE “MOMENT OF TRUTH”
FUTURELAB
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What will you do to make it “clear”
FUTURELAB
Do people “get” your strategy ?
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FUTURELAB
INCLUSION
Make sure that everyone who needs to deliver the promise you
make to the market
• Understands this promise• Knows what it means to
him/her• Supports this direction• Acts upon it
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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Dreaming of a better future …where there is more to business than making money.
FUTURELAB
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FUTURELAB
DREAM ON … SHOW ME THE MONEY
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FUTURELAB
Be responsible AND make money
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2008
FUTURELAB
Consumer Demand
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Market Opportunity
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FUTURELAB
PERSPECTIVE
Do good for the world and for your business
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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Be the First PenguinFUTURELAB
that resists threaths & temptation
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The Marketer’s BushidoFUTURELAB
Insight
Respect
Integrity
Financial Acumen
Inclusion
Perspective
Passion
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The Alternative
FUTURELAB
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http://blog.futurelab.net