smash keynote: the infinite future

@msweezey

The Infinite Future SMASH Conference Keynote 2015

@msweezey

@msweezey This presentation will be covering a lot of slides in a very

short amount of time. If you would like to follow along on your device please find my slides posted to slideshare. Find my slides on Twitter @msweezey and there is the URL to the slideshare presentation.

@msweezey

We are here

You must understand we are in a time of radical change, and only by fully understanding the change can we succeed in the infinite future.

In assessing the blame for the failure of good companies, the distinction is sometimes made between innovations requiring very different technological capabilities, that is, so called radical change, and those that build upon well-practiced technological capabilities, often called incremental innovations. The notion is the magnitude of the technological change relative to the companies’ capabilities will determine which firms triumph after a technology invade an industry. -Clayton M. Christensen, The Innovators Dilemma

@msweezey

Business Environment

We operate in consists of media, consumers, and businesses. When any of these three things change we must revaluate our foundations.

Business: Use media to consume information and to publish information. They are reactionary to the consumer.

Media: Is the medium for communication between all parties in the environment.

Consumers: Are the ones who obtain information from media to fulfill their needs.

@msweezey

Media has changed infinitely

Media has changed the environment we live in causing

major changes to our species

@msweezey

5 Media Channels In 1960 there are only 5 marketing channels we must

master. They are all analog.

@msweezey

200 Media Channels In 2014 there are over 200 marketing channels we must

master. They are all digital, bi-directional, and driven by dynamic data.

@msweezey

More people in the world have access to a mobile phone than have access to clean drinking water or

electricity. The effects of this are only now beginning to be fully understood.

Media Ubiquity

@msweezey

Limitless Noise On average there are 1,500 posts waiting for you on

Facebook, and the average person is exposed to 5000 ad impression per day.

@msweezey

“ “ “ CMO will have the largest IT budget by

2017 -Gartner

@msweezey

Limitless Channels Gartner predicted in 2014 that by 2017 the CMO

would have the largest IT budget in the company, taking it away from the CIO.

@msweezey

New Media affects Humans

Media has changed the way people relate to each other, act,

and obtain information.

@msweezey

Attention Spans The average human based on a Microsoft study in

2013 has an average attention span of 8 seconds.

NINE SECONDS

Goldfish have an attention span of

@msweezey

Time Spent Online The average person in the united states spends 12.28

hours in front of a screen every day. The average person in the UK spends 12 hours per day. (NIH)

@msweezey

Buyers harness more power when they do a single Google search than all of NASA had in 1969 to land a man on the moon. Anything can be found in an instant, and if it’s not they they leave.

INSTANT RESULTS

80% Bounce Rate

On visits from Adwords

71% Have been Disappointed by content

25% Will never re-engage If disappointed once

1.70 Page views

Per visit to your site

@msweezey

The new buyer is not like the old one. They are mobile, cross channel, and highly informed. On average they consume 3-7 pieces of content before they talk to sales. The average person between 35-49 checks Facebook 17 times per day.

BUYERSCHANGE

GRANDPARENTS Are the fasting growing demographic on

Facebook.

@msweezey

Customer Mandate

36%

*Transforming Customer Experience: From Moments to Journeys, 2013

Understand the customer’s needs and interests and use this insight to continuously deliver personalized content that aids the customer’s purchase decision, provides timely service and results in a great customer experience.

Customer satisfaction scores for business increases by thirty six percent when we focus on the full customer experience.

15% Increase in revenue for those companies who can transform their idea of individual moments into a full customer journey.

28% Customers are twenty eight percent more likely to recommend products from companies who provide a personalized journey.

33% And are thirty three percent less likely to churn than customers who do not receive a fully personalized experience.

@msweezey

Questions Lets see just how much you have changed based on

the environment around you to make this point even clearer.

@msweezey

“A” or “b” How do you manage your

email in box?

@msweezey

“We now disqualify before

we qualify”

@msweezey

“A” or “b” How do you download data?

@msweezey

“We batch research”

@msweezey

Daily content consumption. Usually is Learn, and Escape. Happens across all media channels. How we engage with Research content.

Batch Research Defined

@msweezey

of B2B buyers said they waited longer to initiate contact with B2B vendors –

DemandGen Report 2014

40%

@msweezey

80% Gartner predicts the buying cycle will be primarily in the hands of marketing, as they expect a B2B buyer do have accomplished 80% of their buyers journey before they ever speak to sales.

MARKETING CONTROLS THE BUYING CYCLE

@msweezey

Business goals change

Media has changed the environment we live in causing

major changes to our business

@msweezey

Production

3-D printing has democratized production. Now anyone, anywhere, at anytime can print them selves products.

@msweezey

Technology

SaaS technology democratized business operations. Now any business can have the best tool set to run their business, and build their product, with almost zero overhead.

@msweezey

Distribution

Distribution and selling of goods has been democratized by online marketplaces. It is easier than ever to sell something at scale.

@msweezey

Production, Technology, Distribution, and Reach are all democratized making the relationship you have with your consumer the only sustainable competitive advantage.

Infinite Competition

of Fortune 500 companies are removed from the list in Last decade (2004-2015) 1/3

@msweezey

You no longer compete with those in your own industry, but rather the best of those fields. Consumer are now comparing all experiences against each other rather than against their vertical.

Infinite Competition

Buyers harness more power

when they do a single

Google search

Ease of Use Buyers harness more power


Google search

Personality Buyers harness more power


Google search

Service Buyers harness more power


Google search

Relationship

@msweezey

ENVIROMENTCHANGED

BUYERSCHANGE

= Radical Changes Must Occur

Buyers harness more power when they do a single Google search

Limitless Channels


Always on


Infinite Media


Instant Expectations

Optimizing for small gains will leave you way behind in the infinitely changing world.

+

+

@msweezey

The relationship is primary focus of the future, and they

can not be built by campaigns alone

BIG IDEA #1

@msweezey

Remember “New Coke” the only reason Coke-a-Cola didn’t lose the cola market was because of their relationships which they build during WWII. Where they made sure every GI got a Coke for five cents, where ever they were in the world.

Campaigns Can fail

@msweezey

Kimpton Hotels is using “Journey Builder” to build long lasting relationships with customers even outside of their travel schedule. Technology allows this to happen, far surpassing Dunbars wildest dreams.

Now they

Can Scale

@msweezey

Building relationships with consumers inner desires is what we should be focused on. It is what our society is based off of, and the best way to drive people to action.

Edward Bernay’s created Public Relations after learning from his

uncle Sigmund Freud the power of the unconscious mind. He create a

new form of strategic marketing which built relationships between

products and consumers inner desires.

Bernays Is Right

@msweezey

Content is what consumers desire, but not just any

content will do.

BIG IDEA #2

@msweezey

CONTENT

Research from the Content Marketing Institute shows best in class companies spend 39% of their

total marketing budget on creating content. Yet research also shows 70% of all content created

never gets utilized.

@msweezey

Mass Media Fails

The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. We need to be relationship brands.

@msweezey

More is not Influential

There is no correlation between publishing more often and influence the content has with in a persons life, or with the relationship you have with the consumer.

@msweezey

71% of B2B buyers have been disappointed by content

-Pardot research 2013

71% Of B2B Buyers Have been disappointed with

content -Pardot Research Report 2013

@msweezey

71% of B2B buyers have been disappointed by content

-Pardot research 2013

25% Of them will never engage with your

content again -Pardot Research Report 2013

@msweezey

Media Made money Because they owned the relationship. Not because they mass published media.

We should learn…..

@msweezey

Mindset is the only way to manage your brand across infinite number of media

channels in the future.

BIG IDEA #3

@msweezey

Mindset Everyone in the organization understands everything they do will end

up online. Services will receive tweets, product will receive reviews, and sales will be talked about. Everyone must understand the net

positive effects of their actions.

@msweezey

Leading outdoor brand, headed by a climber. Not a business leader. First company to provide on site child care. Famous for their “When surf is good, go surf” mentality. Pardot competed in the

highly competitive marketing automation space. Zero funding, and very few dollars spent on marketing they succeeded in a market where their competitors had over ½ billion dollars.

Zappos , has become a monolith due to their customer service, and culture. This was spear headed by their CEO who’s philosophy of people first proved to be correct.

Companies Who win

All three of these companies have a culture which breeds a consistent net positive mindset. It comes form the top, and is passed down. It must sit at the top.

@msweezey

Ship My Pants

National retailer spends over $10 million on a campaign to get people to shop in their stores. The campaign was based off of an award winning tag line “Ship My Pants”

@msweezey

Infinite Media Hurts

Upon a Google search to find the local store the average review is 2.9 out of 5. Creating a bad impression directly following the positive impression of the “Ship My Pants” campaign.

@msweezey

Net Positive Experience

Upon going to the website to then purchase the website was broken. This now has created a “NET NEGATIVE” effect and the only way to win this consumer back is to spend more money. This is not sustainable.

@msweezey

Customer Executive

Having everyone in your with the same mindset is the only sustainable way for you to proactively protect your brand from the infinite amount of content which will be published about you in the future. This is why companies like AT&T give CX a seat at the Executive Table.

@msweezey

Creating Mindset

Everyone in the company must be able to answer three basic questions. If they can you will proactively mitigate bad experiences and ensure a “Net Positive” experience in the future.

-  What do we value in an employee -  What do we value in a customer -  What do we call success

Simplicity Wins in Mindset

@msweezey

“It is not the height of your highs, but the valley of your lows which will shape your brand”

-Andrew Davis, Author of Brandscaping

“ “

@msweezey

Infinite content is required to market in the future so

what type of content do we need to create?

BIG IDEA #4

@msweezey

Homework Watch This

Joe Pine II explains consumers want, “Honest and Authentic” experiences. He also writes about this concept in three books, Authenticity, The Experience Economy, and Mass Customization.

@msweezey

Nobody Ever Said “I want content”

They decide engage with content to solve goals, they engage with it because

it aligns with their purpose

The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. We need to be relationship brands.

Media

Brands?

@msweezey

Path to Purpose

Google research done in 2013 proves it is no longer a linear journey to purchase, but rather helping consumers meet their purpose. When you do you increase purchases by 42%.

@msweezey

Escape !People wanting to escape will lean on self discover and

social channels. They are looking to escape their work, life, job, and take a short break. No barring on sales readiness.

@msweezey

Discover!Discovery is one of the greatest gifts of the internet. We

have both passive and active discovery modes.

Active Discovery: Direct searches on the internet Passive Discovery: When you scroll down in Facebook

@msweezey

Presence!Is the content which consumers create about themselves to

validate the mediated self they are projecting. Simply engaging with this is fulfilling their purpose, and is

helpful, and does not require you to create more content.

@msweezey

Relevance at scale. How do you scale a small team up to

manage infinite relationships in the future?

BIG IDEA #5

@msweezey

Data Collection

Buyers become highly fragmented beings across multiple channels. They are always connected, and always on. The only way to reach them is to know more about them, and understand what it takes to really be relevant to the modern buyer.


Behavioral Data


Psychographic Data

Also combine with all other internal data.

CRM Data

@msweezey

“Our end goal is to present the customer with content that is relevant, not invasive”

-Kimberly Ruthenbeck, Director of Web Customer Experience for Room & Board

“ “

@msweezey

Marketing Sales

Service

Single Customer View

Automation Platform (s) CRM

System of relevance

Allows for plug and play integrations with other apps who use data, and add to data.

@msweezey

Personalized Experience

Requires you to know each and every person, and demands a system of relevance which touches all aspects of your business. This puts the customer success platform at the heart of your marketing efforts. Then allows for scaling across all channels, with dynamic and predictive personalization.

Email

@msweezey

Automations Scale

Automations allow for businesses to use data and instant actions to scale relationships across all channels. With out automations you can not scale one to one relationships.

Email

@msweezey

Companies using predicative content on average are seeing an increase in revenue by 15%.

Predictive Content Dynamic content suggests

the best next piece of content given set algorithms

of most likely engagement.

Owned Experiences Creating customized

experiences also needs to happen both on your

website and via the email content.

+15% Revenue

@msweezey

Lead Nurturing Wins Using the 3-2-1 technique of lead nurturing eCornell has been able

to see amazing results. Converting 50% of all sales

qualified leads who are nurtured into new customers.

eCornell Lead Program Is the online branch of the Ivy

League Cornell University. They are responsible for driving all

traffic and produce 5,000 leads per month.

16X Higher conversion rate on leads that have been nurtured vs those that have not. Produced the single biggest increase in leads from any other method.

@msweezey

Lead Routing Then identify the hottest leads in real time and pass them to the sales team asap.

Lead Scoring From each engagement we can now track the buyer’s interest and score him based on behavioral metrics.

Companies who automate lead management see a 10% increase in revenue in 6 months. (Gartner Research)

+10% Revenue

Of marketing leads never convert into sales. (Gleanster) 79%

@msweezey

Sales Automation

Real time notifications Sales then gets instant

notifications of any lead they are working with and their

engagement with marketing.

Sales Nurturing Programs

The biggest benefit to the sales and marketing program are sales automations from Pardot. Giving businesses the ability to generate leads, identify them, and close them faster.

Real time lead routing Identify the hottest leads based

on instant behavior and then send them to sales instantly.

One click nurturing allows sales to then nurture those leads who

are not ready buy.

@msweezey

@msweezey

Extinction Is Real More than 99 percent of all species, amounting to

over five billion species, that ever lived on Earth are estimated to be extinct due to environmental factors. Don’t be a DoDo……

Raphus cucullatus “DoDo Bird”

@msweezey

Thank you Please share if you enjoyed this

smash keynote: the infinite future

Retail