presentation e-travel summit university twente
TRANSCRIPT
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04/18/2023 E. Constantinides © 1
Marketing Challenges in E-TravelDr. Efthymios Constantinides
Assistant Professor Marketing / E-Media
University of Twente
Faculty of Management and Governance / Business Administration
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The Biggest Challenge of (Tourism) Marketers Today is…
the changing nature of Markets and Marketing
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Declining Effects of Traditional Marketing
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Increasing customer power: the networked, tech-savvy consumer
Millions?
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Brand advocates and Brand detractors
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Decreasing customer trust
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But my customer is happy!(don’t be so sure!)
Example 1: Kryptonite
Example 2: AOL
Example 3: UA
Example 4: FedEx
E. Constantinides © 1004/18/2023
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Customer activism and customer attacks
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Power to the people: Social media activism
E. Constantinides © 1204/18/2023
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Facts about reputation management
More than 70% of 142 global CCOs said their companies had experienced a reputation threat in the past 2 years (2012)*
2012 survey of social media risk managers by Altimeter Group: 66% identified reputation or brand damage as either a critical or significant risk
*http://www.webershandwick.com/uploads/news/files/Rising_CCO_IV.pdf
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E. Constantinides ©
New Technologies + Informed consumer = Powerful consumer: A Major Marketing Paradigm Shift
From Push Marketing: Producer has control over media and distribution
channels
To Trust based / collaborative marketing: Customer is the powerful party:
- Build belief, confidence, reliance- Engage the customers
- Advocate customers/ they will advocate for you:Honest, open, full info, Partnership
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Changing: Marketand Marketing
Declining Effects of Traditional Marketing
Model
Increasing Customer
Power
Decreasing Customer
Trust
What is the right response?
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Changing MarketingWhy?
Declining Effects of Traditional Marketing
Model
Increasing Customer
Power
Decreasing Customer
Trust
Online and Social Media Marketing*
Engage the customer
Customer Advocacy
RESPONSE?
* Emphasis on Content Marketing
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Weblogs
SNS
Online communities
Forums
Content aggregators
© E. Constantinides
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Use of Social Media as Marketing Tools
Passive: Listen the customer’s voiceActive: Engage the customer
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Active Social Media Strategies
PR, Direct Marketing, Customer Service
Reach the Influencers
Customize your offer
Engage the customer in Innovation
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Changing MarketingWhy?
Declining Effects of Traditional Marketing
Model
Increasing Customer
Power
Decreasing Customer
Trust
Social Media Marketing
Engage the customer
Customer Advocacy
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Engage the customer
Customize your offer
Co-innovate: Get the customer involved in your NPD
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Changing MarketingWhy?
Declining Effects of Traditional Marketing
Model
Increasing Customer
Power
Decreasing Customer
Trust
Social Media Marketing
Engage the customer
Customer Advocacy
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Active* Customer Advocacy
Help your customers succeed by giving them
open, honest and complete information
and help them find the
best products/services for them even if they
are not yours. (Glen Urban)
Take proactive steps to treat
your custome
r with opennes
s, respect
Make your customer
successful
* Next to passive advocacy: Brand advocates
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The Dream
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The reality?
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Learn about your customers and their needs
Source: The Travel magazine http://www.thetravelmagazine.net/i-4850--flight-stress-what-annoys-you.html
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And find ways to address their needs
Advocacy Elements:
Simplicity
Benevolence
Transparency
Trustworthiness
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Conclusions and a few tips
• A study by MIT Sloan Management Review and Capgemini Consulting finds that companies now face a digital imperative: adopt new technologies effectively or face competitive obsolescence.
• “The rise of the tech-savvy, connected consumer across all facets of society changes the expectations consumers have of companies, regardless of their business”
» Curt Garner, Chief Information Officer at Starbucks.
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04/18/2023 E. Constantinides © 37
Main Marketing Challenges in 21st Century
• Manage the Total Customer Experience: Social Media, Web, mobile and traditional media: cross-media strategies
• Renewed emphasis on the Customer: Understand the New Customer– Advocate your Customer to Win Customer Trust and learn who are your Customer
Advocates– Harness the Crowd Wisdom: The customer as Co-Innovator– From Consumer (segments) to Consumer Networks
• Keep up with technology developments: mobile, wearable technologies, RFID, Cloud, Semantic Web
• Be ready for the `Social Data / Big Data and Neural Marketing
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Thank you