navigating the customer landscape
TRANSCRIPT
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Navigating the Customer
Landscape
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Itinerary
• Planning the Marketing Journey
• 5 Changing Peaks of the Customer Landscape
• Demographic Shifts
• Technological Innovations
• Globalization
• Saturation
• Brand Control
• Tickets to Success
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Planning the Marketing Journey
Reviewing the Globe
•Marketing is the activity, set of institutions, and processes
for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners,
and society at large. (Approved October 2007 by the
American Marketing Association.)
•Marketing: one of many business functions created
primarily to drive revenue and support business strategy
(Dracos~Lemming Consulting, 2007.)
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Understanding the
“Destination”Brand
Awareness
Cultivation
Conversion
Retention
BrandComprehension
The 5 Objectives of Marketing
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Understanding the “Destination”
Cu
sto
mer
M
ind
set
BrandAwareness
Explore
Mar
keti
ng
Ob
ject
ive Cultivation
Assess
e-marketing
Thought Leadership
Direct Marketing
Public Relations
Social Media
Conversion
Fulfill
Technical Collateral
Sampling
Speaker Events
Retention
Evangelize
Customer Relationship
Management
Retention Events
e-marketing
Personal Selling
Direct Marketing
Loyalty Programs
Advertising
Public Relations
Internet
Out of Home
Mobile Media
Sam
ple
Ta
ctic
s
Learn
Website Development
Search Engine
Optimization
Seminars / Talks
Sponsorships
Tradeshows
Brand Collateral
BrandComprehension
The 5 Primary Roles of Marketing Activity
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The 5 Changing Peaks of
Customer Landscape
Demographics Technology
Saturation
Globalization
Brand
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Changing Peak #1:
Demographics
USA: 1950
• Population: 152 MM
• Immigration: 2,090,000
• Age: 65+ = 8.1%
USA: 2010
• Population: 309 MM =
2x• Increased births
• Decreased deaths
• Immigration: 6,656,000
• Age: 65+ = 12.4%
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Changing Peak #1:
DemographicsUS Legal
Immigration
1. Mexico 14.6%
2. China 6.0%
3. Philippine 5.3%
4. India 5.1%
5. Dominican Republic 4.4%
6. Cuba 3.4%
7. Vietnam 2.6%
1. California2. New York3. Texas4. Florida5. Illinois6. New Jersey
Country of Origin: Metropolitan Destination:State Destination:
Source: U.S. Census: 2010
1. NYC/New Jersey2. Los Angeles3. Miami4. Washington, DC5. Chicago6. San Francisco
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Changing Peak #1:
Demographics
Source: CRS extractions from U.S. Census Bureau, International Data Base (IDB), http://www.census.gov/ipc/www/idb/country.php.
Age
1950:
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Changing Peak #1:
Demographics
Source: CRS extractions from U.S. Census Bureau, International Data Base (IDB), http://www.census.gov/ipc/www/idb/country.php.
Age
2000:
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Changing Peak #1:
Demographics
Source: CRS extractions from U.S. Census Bureau, International Data Base (IDB), http://www.census.gov/ipc/www/idb/country.php.
Age
2050:
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Changing Peak #2: Technology
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Changing Peak #2: Technology
•Speed:
• Communication: 24-hour news cycle
• Innovation: 100 weeks ago no iPad
• Information sharing: Email, IM, texting, tweeting, blogging
• Adoption: Tech-savvy, tech-enabled customers/members
•Smartphones: 33% CAGR over next 5 years
• Tablets: 81% CAGR over same period
•Personalization: One web interface to 10 million
interfaces
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Changing Peak #2: Technology
• Connectivity:
• Proximity: geography unimportant
• Convergence: Seamless experience across
touch points AND devices
• Virtual networks: social media
•Data Capture: devices and companies will know
you better than you know yourself (Siri, Kinect,
Netflix)
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Changing Peak #2: Technology
• Social Media:
• User-generated content that is shared over the
internet via technologies that promote
engagement, sharing and collaboration
• Social media are media for social interaction,
using highly accessible and scalable publishing
techniques
•Social Media is word of mouth on steroids
Source: 60 Second Marketer
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Changing Peak #2: Technology
• Social Media:
• Users of social media are disproportionately female (56%)
• 40% of social media users access their content from a
mobile device
• Nearly twice as many men use Linked In as women
(63%)
•55+ age group doubled their mobile internet usage in one
year
• 80% of Facebook users are outside the U.S. and Canada
Source: 60 Second Marketer
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Changing Peak #2: Technology
Search Engines:• Google 72%
• Yahoo 15%
• Bing 10%
Social Sites:• Facebook 7.0B
• Twitter 182 MM
• Pinterest 104 MM
• LinkedIn 86 MM
B2C E-commerce:• Amazon
• Wal-Mart
• Sears
B2B E-commerce:• Apple
• Dell
• Staples
Search Engines:
• Baidu
• Soso
• Sogou
Social Sites:
• Renren
• Kaixin
• 51.com
B2C E-commerce:
• 360buy.com
• M18.com
• Joya
Source: Internet Marketing Inc., 2012Source: comScore, 2012
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Changing Peak #3: Globalization
Languages spoken in the United States• English: 82.1%
• Spanish: 10.7%
• Other Indo-European: 3.8%
• Asian and Pacific island: 2.7%
• Other: 0.7%
Source: U.S. Census, 2000
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Changing Peak #3: Globalization
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Changing Peak #3: Globalization
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Changing Peak #4: Saturation
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Changing Peak #4: Saturation
• 1,000+ television
channels
• 5,000+ publications
• Declining print media
• 10,000+ traditional radio
stations
• Satellite radio
• Direct Marketing = $10B
• 2011 E-commerce =
$2.2B
Marketing 1985: Marketing 2012:
• 3 Network channels
• 4 National magazines
• Healthy local newspapers
• AM and FM radio
• Direct Mail = monthly bills
• No Cable TV
• No internet
• No email
• No mobile devices
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Changing Peak #4: Saturation
Advertisements viewed per day:
• 5,000+ (Yankelovich, 2007)
Venues:
Logoed apparel Lavatories
Sky writing Stadiums
Airplane seatbacks Taxis
Backlash:
Do Not Call Do Not Mail
Spam blockers/filters Do Not Track
Tivo/DVRs No solicitation legislation
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Changing Peak #4: Saturation
Launching a Product: Then Launching a Product: Now
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Changing Peak #5: Brands
• brandn.1. A trademark or distinctive name identifying a product or a
manufacturer.
2. A distinctive mark burned into or upon with a hot iron, to indicate quality, ownership, etc.,
personalityn.
1. The totality of qualities and traits, as of character or behavior, that are peculiar to a specific person
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Changing Peak #5: Brands
• Brand = EXPERIENCES, not logos
• Brand = TRUST
•S-Corporations: higher purpose
• Brand = TRANSPARENCY
•Brand = RELATIONSHIPS
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Changing Peak #5: Brands
• Control of brand = hands of consumer (C2C)
• Reverse segmentation: “Brands no longer
segmenting customers, customers segmenting
brands; loyalty not customer to company but
company to customer”*
•Brand passion: “I love Google” = 3.27mm hits
• Brand passion = lower churn and higher
revenue
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Changing Peak #5: Brands
Trust in Financial brands at an all time low
• Scandals
• Executive compensation
• Mortgage crisis
• Failures
• Sagging morale
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Changing Peak #5: Brands
Bank/Credit Union Brand Factors:
• Branch experience
• Online experience
• Speed of service
• Service quality
• Competitive pricing
• Staff friendliness
Brand
Branch
Online
Staff
Products
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The Ticket to Success
• Know your customer/member
• Deliver the right content
• With on-brand and relevant messaging
• Using the right marketing tactic
• Sent with appropriate timing
• Helps address an immediate need
• And drives meaningful action
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The Ticket to Success
Wishing you
smooth sailing past
the ever-changing
peaks of Marketing
in the 21st century!