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Marketing3 Presentation

This is a presentation Alain Thys gave at the Marketing 3 conference on Nov 29, 2007. For more on this topic, check out http://blog.futurelab.net

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Marketing3 Presentation

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  1. Feel free to re-use or mash-up this presentation under Creative Commons 2.0 license (non- commercial, attribution) Marketing 3: On Accountability Alain Thys (http://blog.futurelab.net) FUTURELAB

  2. 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 FUTURELAB

  3. If you think marketers have an image problem FUTURELAB

  4. FUTURELAB What People Think of Marketers Don’t shoot the messenger  

  5. FUTURELAB Marketers are faddish, irresponsible, … don’t think like business people … more akin to a recalcitrant child … McKinsey & Company, CEO/CMO Survey, 2005

  6. The average tenure of CMOs in consumer markets is 23, 15 or 12 months. FUTURELAB

  7. FUTURELAB Too many marketers have become so specialised that they don’t think in terms of the company’s big picture. Philip Kotler

  8. FUTURELAB Marketers are frivolous and difficult to approach Australian Society of Certified Public Accountants

  9. FUTURELAB Withhold research Take credit for other’s work Lack structure Are always in meetings Work from 10 to 4 Have long lunches Unaccountable, untouchable Seek quick promotions Churn Care about cars, stats and lunch Use jargon Slippery Expensive Cranfield University

  10. "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, Megaqwerty FUTURELAB

  11. Buy Stormhoek Wine  FUTURELAB

  12. FUTURELAB

  13. If you think marketers have an image problem FUTURELAB

  14. 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 • • • • • • • • Marketers need to become more « accountable » for themselves and for the benefit of the business.. FUTURELAB

  15. FUTURELAB The Marketer’s Bushido Changing marketing’s bad image

  16. Insight Respect Integrity Financial Acumen Inclusion Perspective Passion FUTURELAB The Marketer’s Bushido

  17. Insight Respect Integrity Financial Acumen Inclusion Perspective Passion FUTURELAB The Marketer’s Bushido

  18. 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? FUTURELAB

  19. FUTURELAB German Traditional Chains vs. Hard discounters McKinsey & Company, Nov 2004

  20. 60% of sensory experience of drinking espresso comes from the retail environment (and you lose it when you go home) FUTURELAB

  21. « Best Practice » is Insufficient Insight Product Insight Insight Insight Insight Insight Acting on Insight in emotions, rationalisations and choice drivers at every step of the experience. The Experience IS the Product FUTURELAB

  22. Don’t forget to understand the “influencers”

  23. Real Insight Understand what truly drives and moves me ... and those who influence me ... at every step of the overall experience you offer FUTURELAB

  24. Insight Respect Integrity Financial Acumen Inclusion Perspective Passion FUTURELAB The Marketer’s Bushido

  25. RESPECT FUTURELAB

  26. FUTURELAB http://www.youtube.com/ watch?v=D3qltEtl7H8 RESPECT ??

  27. Don’t treat me like a child “one message doesn’t fit all” FUTURELAB

  28. People don’t fit boxes 28-34 Online music, movies & laser hair removal Modest but dependable disposable income • • • FUTURELAB

  29. To simplify and give meaning: Humans seek patterns, even where there are none

  30. FUTURELAB “It’s the easy way out, and as long as we all do it, we’re fine” Romanian marketer

  31. RESPECT Let go of mindless segmentation Treat markets like “people” Bring back the love And you might get some in return FUTURELAB

  32. Insight Respect Integrity Financial Acumen Inclusion Perspective Passion FUTURELAB The Marketer’s Bushido

  33. perception 80% of CEO’s believe of believe their brand provides a superior customer experience 8 % of their customers agree (Bain & Company) FUTURELAB

  34. 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) FUTURELAB http://www.youtube.com/watch?v=xaaAYVUWP0I

  35. Companies break their promises every single day. Does your business keep yours? FUTURELAB

  36. Breaking promises in a WoM world is suicidal FUTURELAB

  37. But I’m just a marketer That is not my department … FUTURELAB

  38. 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

  39. Consider Each Moment of Truth as a Brand Expression FUTURELAB Source: DAVIS S., LONGORIA T., “Harmonising Your Touchpoints”, Brand Packaging, Jan/Feb 2003

  40. In a million channel world, brands whose consumers tell the best stories, win EXPERIENCES - EMOTIONS - STORIES

  41. INTEGRITY Ensure that your brand tells the truth when it makes a promise And when a promise is made make sure it is kept FUTURELAB

  42. Insight Respect Integrity Financial Acumen Inclusion Perspective Passion FUTURELAB The Marketer’s Bushido

  43. A Reminder from Tom http://www.youtube.com/ watch?v=9MaKHxsGZ-A FUTURELAB

  44. 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

  45. A Structural Answer: Multivariate and Agent Based Modeling MEASURE & PREDICT AGENT BASED MODELING Case: Indian Tea company, Greek Telco. Case: US Packaged Consumer Goods Company FUTURELAB

  46. Pragmatism: Focus your money where it matters Average Media Consumption by Week (Europe), 2005 14 IMPACT Source: Nielsen Interactive Europe, 2005 12 10 8 6 4 2 0 Games Internet Television Music Radio Books Magazines DVD Purchase Advocacy Repurchase Loyalty Preference

  47. Resist Orthodoxy • Booking TV = higher margin • Standard rate-cards are less work • Digital avoidance is easier on the brain • Agency co-operation is inconvenient

  48. FINANCIAL ACUMEN 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 FUTURELAB

  49. Insight Respect Integrity Financial Acumen Inclusion Perspective Passion FUTURELAB The Marketer’s Bushido

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