Presented at the Convergence 2014 event.
“The art of the possible and the science of the probable around dynamic customer relationships.”
3 Key Things to take from this presentation:
Age of the customer – so what?
Evolving to the next generation digital marketing
Monetizing the customer relationship
As a point of interest, Microsoft Evolution is a publication addressing much of the content of this presentation, highly recommended read for marketers and IT professionals involved in that area.
Age of the customer
Possibly not traditional marketing, but early wall paintings were a statement about you and what you could do, the paper press and mass media took marketing to a whole new level reaching many more people than was ever previously possible. Moving through the years, Radio and the power of the voice became the new form of speaking directly to customers and this was obviously brought further to life with television advertising.
It’s only really with the advent of the personal computer, that interactivity with customers became a realisation; marketing has almost gone full circle and we are back to writing on walls again (albeit the digital ‘walls’ of Facebook and Twitter etc.)!!
Social and new technologies change our behaviour, simple examples of this include navigation no longer being just used in the car, navigation on foot by your smartphone is becoming more common place – people want technology and content to integrate into their lifestyles, this truly is the age of the customer.
Organisations need to be where the customers are. Customer experience is critical in this age!
The bottom line is that you need your customers more than they need you because competition exists in everything you do.
Social is a buzzword, as is mobile. The key point is, for the social customer and according to certain statistics, 44% of customers complain via social media (20% expect a response within an hour. From the same survey, it was suggested buyers are 57% (for B-to-B, it is as high as 67%) through the buying cycle before they contact you. This essentially means that these are deep prospects and you are not aware of them!
How do you become aware of them earlier in the buying cycle? Content marketing plays a role in this, if the customer is doing research into a product, they should be reading your whitepaper on the subject!
Customers today are smarter, they are better connected; the next generation of digital marketing could be argued as to not be digital at all but integrated. Integration across digital and traditional channels providing consistency of brand.
Everyone is on the social and digital bandwagon, but not many do it well! A strategy is critical to the success of an integrated journey.
The 55 -65 age bracket is the fastest growing demographic on twitter! Does that surprise you?
YouTube reach more of the 18-34 age bracket than cable channels (US), a video strategy would potentially be better value than traditional TV advertising for this demographic.
You need to evaluate the channels available and how they can fit into your marketing strategy.
What is the most active ‘action’ on the web today? A few things spring to mind, but it’s actually Social Media, this shows what an important channel this is, if used correctly.
“Hey Kids, your parents are on Facebook, is that where you really want to be?” is an interesting sound-byte from the presentation, the demographic of Facebook is changing with more and more teenagers and young adults migrating to Snapchat (and then to other social channels); from a social marketing point of view you need to be where your customers are.
How do you get above the noise?
Know where your audience is. You don’t need to be in every digital channel.
Not every digital channel is right for your business.
You need a strategy!
The ‘New’ Digital is Opportunistic and Integrated into your strategy. It must be flexible in order to react to immediate opportunities.
By 2017, according to Gartner, the Chief Marketing Office will spend more on IT than the Chief Information Office!
Finally, food for thought:
Customer Experience matters.
Evolve to ‘new’ digital marketing and create a process to stay current.