changing role of marketing: new challenges & opportunities

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Sanjay Mehta Digital Marketing Webinar Changing Role Of Marketing: New Challenges & Opportunities Aug 8, 2014 | Sanjay Mehta (Jt. CEO, Social Wavelength) www.digitalvidya.com

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Sanjay Mehta

Digital Marketing Webinar Changing Role Of Marketing: New

Challenges & Opportunities Aug 8, 2014 | Sanjay Mehta (Jt. CEO, Social Wavelength)

www.digitalvidya.com

Sanjay Mehta

Three key thoughts for Marketing

1. CHALLENGES OF TRADITIONAL MARKETING

2. NEW WAY: MARKETERS NEED TO LISTEN UP

3. THE NEW MARKETING MODEL, AND THE

CHANGING ROLE OF THE MARKETER

Sanjay Mehta

• You have a product or service to sell – you need to market – you

need to reach your prospect with your communication

• Traditional ways have been advertising, direct marketing, PR, etc.

• More specifically, print advertising, TV ads ($$), hoardings

• PR largely meant, building relationships with journalists

• Direct Marketing: Emails (spams?!), telemarketing (how we hate

those?!) and mailers (junk?)

• Would need budgets and yet, not very effective in changing times

• Even so, many companies use these and are dependent on these

Sanjay Mehta

First the e s usi ess, the the usi business, then advertising. Is there any

i dustry that I get i ol ed i that does ’t get destroyed y digital te h ology?

- Andy Nibley, who has led Reuters,

Universal Music and ad agency, Marsteller

Sanjay Mehta

• Digital Te h allo s lie t s ulti ate fa tasy, usto ize spe ifi essage to the spe ifi o su er, at the spe ifi o e t

• It s also a arketer s ight are

• The iro y is that hile there e er ha e ee ore ays to rea h o su ers, it s e er ee harder to o e t ith o su ers!

• Death of mass marketing is death of lazy marketing

• 200 Old Spice videos made in 48 hours; more work for less money

• Controlled, one-way message is now a dialogue with millions

• The power of the advertiser is rivaled now, by user influence

Sanjay Mehta

• Brands choosing to work with specialist digital, PR, social media

age ies, rather tha ge eralists: looki g for the right skills

• Tech challenges to what was once considered an expensive art

form, e.g. creating a video (< $2K) or media planning (web ads?!)

• Creativity is not that exclusive – how about crowdsourcing ideas?!

• Kraft orked ith Ge ius‘o ket for o e of it s ra ds: – Against millions to agencies for one spot, got 7 spots for $40,000

– Also syndicated to web platforms for tracking, testing, sentiment analysis

– For agency to be cutting edge, high overheads; GeniusRocket is a lean team

Sanjay Mehta

Why are so a y arketi g a paig s ra d-destroyers and

money-losers? Why is ra di g e o i g a de alued asset, hose retur s are d i dli g it ess Google uildi g the orld s ightiest brand with barely a penny of orthodox marketing expenditure)? Why

do people and communities exact steeper and steeper discounts,

price-cuts, and margin-crushing concessions from the beleaguered,

besieged companies once known as the masters of the universe?

The half-life of companies is shrinking and the weary practice known

as arketi g, addi g little to o real alue, see s po erless to help.

A strong condemnation of marketing as it stands today, by UmairHaque (HBR)

Sanjay Mehta

• A out pushi g produ ts do

• Already o erstuffed gullets of o su ers

• By targeti g essages pa ked ith i agi ary e efits

• I gra d a paig s that ake o er lo pro ises

• “ee this eer? It s goi g to la d you a girl of your drea s!

• Curre t arketi g is a out talki g dow to your usto er

Sanjay Mehta

What Listening Up is NOT:

• Stalking your customers to find their moments of weakness

• Focus groups and differentiation

• Data mining and then some more!

• The UP is important: having dialogues about what really betters

lives of people, their standards of living, and then finding real

ways to make it happen for them

Sanjay Mehta

• Genuine talk with customers – not just about their wants and

needs, but also about their hopes, fears, opportunities, threats,

achievements, regrets; find ways to give long term fulfillment

• Empowering more people in organization to talk to customers, not

just the powerless cashier or customer service rep; org change!

• Letting your critics rip at you – and listening to them; empowering

people to be heard, instead of shouting them out

• Investing not just in market research, but in people

• Asking questions that matter – and being tough to face the music

Sanjay Mehta

New Model, New Role

Sanjay Mehta

Sanjay Mehta

CONSIDER EVALUATE

BUY ENJOY

ADVOCATE

BOND THE LOYALTY LOOP

Sanjay Mehta

CONSIDER EVALUATE

BUY

BOND

Allocations not just about media (TV/Print/Radio etc) but about consumer touch points!

Pro ide for o - ork udgets like reati g, o itori g o ed a d ear ed edia spa es!

Sanjay Mehta

Marketer as the Orchestrator: in charge of all Owned Media – in addition to

traditional and digital marketing, also manage customer service, product

literature design, product registration, warranty programs, etc.

Marketer as publisher, content supply chain manager: Tons of content being

produced by brands and for brands – owned and earned media; marketing to

take charge

Marketplace Intelligence Leader: From Google Analytics to Social Media

Mo itori g data, the i sights ust reside ith arketi g hat the usto er says / does, et .

Sanjay Mehta

THANK YOU

Sanjay Mehta Joint CEO, Social Wavelength

[email protected] +91-98200-40918 @sm63

Acknowledgements:

The Future of Advertising – Danielle Sachs

Marketing Can Do Better – Umair Haque

Branding in the Digital Age – David Edelman (HBR)

Sanjay Mehta www.digitalvidya.com

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