marketing 2020: from social media to what? - mai.uom.grmai.uom.gr/files4users/files/events/various...

80
E. Constantinides © 1 3/19/2014 Marketing 2020: From Social Media to What? University of Macedonia March 2014 Dr. Efthymios Constantinides Assistant Professor Marketing / E-Media University of Twente Faculty of Management and Governance / NIKOS Institute [email protected]

Upload: others

Post on 04-Sep-2019

2 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

E Constantinides copy 1 3192014

Marketing 2020

From Social Media

to What

University of Macedonia March 2014

Dr Efthymios Constantinides

Assistant Professor Marketing E-Media

University of Twente

Faculty of Management and Governance NIKOS Institute

econstantinidesutwentenl

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future of Marketing

E Constantinides copy 2 3192014

3192014 E Constantinides

E Constantinides 3192014 4

UT

BampS Park

3192014 E Constantinides 5

3192014 E Constantinides copy 6

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 2: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future of Marketing

E Constantinides copy 2 3192014

3192014 E Constantinides

E Constantinides 3192014 4

UT

BampS Park

3192014 E Constantinides 5

3192014 E Constantinides copy 6

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 3: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides

E Constantinides 3192014 4

UT

BampS Park

3192014 E Constantinides 5

3192014 E Constantinides copy 6

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 4: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

E Constantinides 3192014 4

UT

BampS Park

3192014 E Constantinides 5

3192014 E Constantinides copy 6

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 5: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

UT

BampS Park

3192014 E Constantinides 5

3192014 E Constantinides copy 6

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 6: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 6

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 7: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

NIKOS

bull Founded in 1961 as the youngest of 3 Dutch Technical Universities

bull 6 Faculties - Both technical and social sciences

bull Students 9000 PhDrsquos 730 Staff 2500

bull Compensation for loss of textile

industry in the region

bull Entrepreneurial university

ndash 800+ spin-off companies

ndash gt8000 jobs created

University of Twente

7 E Constantinides 3192014

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 8: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

VentureLab initiative and objectives

Companies fail to grow and to create economic value

Twente University gt 800 start-ups in 25 yrs

hellip but they remain small (lt 10 fte)

VentureLab Program designed to support growth

VentureLab Twente (2009-2012)

hellip 235 participants - excellent results

VentureLab International (2012+)

Ambition Worldwide recognized business support program for growth companies

VLI Concept

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 9: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 10

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 10: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Entrepreneur and

Enterprise

Entrepreneurial and market orientation

Scope from idea to

Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

COO CTO Balanced teams operations organized Q-systems in place amp product offering

CEO Clear Growth ambition Strategic focus bull developed T-M-O bull strategic processnetwork bull path of value creationexit

CFO Managing cash flow rounds of investment FFF Venture capital (Formal-informal investors)

CMO Strong connections with market (suppliers-clients) Managing strong amp weak ties (in business amp academic world)

Nikos model the foundation of VentureLab

VLI Concept

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 11: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

VentureLab instruments for success

Entrepreneur team and Enterprise

Pers coaching amp training

Team building Business

development

Scope from idea

to Strategy

Social Network- Contacts

Skills Patterns of

Organisation

Scale Economy Financial

means

bull Culture values norms bull Facilities bull Personelarrangements

amp Systems bull Knowledge

bull Ideas bull Assessing the opportunity bull Strategic processes bull Business plan

Contacts with bull Clients bull Suppliers bull Experts bull Colleagues bull Support agents

bull Own capital bull Bridging development

period bull Financing investments

- Venture Capital - Loans

Knowledge Office space Organisational support

Strategic coaching Business model Value proposition

Investor readiness Access to Soft loans Participation Venture capital

Introductions amp Brokerage Launching custom Entrepreneurial community

VLI Concept

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 12: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

In 35 years from 2009 to 2013

235

participants

7000 jobs = 30 fte per company

Expectations 2020

VentureLab results

VLI Results

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 13: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

235 participants

Solmates a young research driven company develops a patent based production machine on piezo technology providing chips a very thin and movable layer which adds new functionalities Some people speak about ldquoa new ASMLrdquo

Isolation company innovates NASA Aerogel

with RampD support of UTwente nano-instituut

Mesa+

GENALICE specialized in innovative software solutions for DNA analysis Winner national ICT Award 2012 5 July 2012

Axiom IC a high qualitative semiconductor company was bought by US company Teledyne DALSA in May 8th 2013

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 14: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

bull Participants profile at intake

bull Weekly diary (5 minutes) ndash Including weekly coach monitors

bull 4-Monthly monitor

bull 4-Monthly Business panel presentation

bull Exit interview

bull Annual monitor afterwards

Participants contribution to research

VLI Research

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 15: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

NIKOS research in VentureLab is unique

On academic congresses in Europa Australia Asia and the USAhellip

VLI Research

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 16: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda

bull Part 1 UT and Venture Lab International

bull Part 2 Social Media Marketing and the future

E Constantinides copy 17 3192014

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 17: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

E Constantinides copy 18 3192014

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 18: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Questions keeping Marketers busy bull How can I survive grow in a fast evolving global

marketplace bull What is the meaning and value of the New Media

Social Media and new technologies for me bull What is the impact of the New Media on the Old

Media on Customers and Marketing bull How to deal with the Empowered Customer bull Is my brand still my property bull Is the Market and the Marketing Paradigm changing bull What next

20 E Constantinides copy 3192014

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 19: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Digitalization and new ICTs Dramatic shift in marketing practice

bull Internet e-commerce threat for many traditional branches

bull Mobile Internet and Smatrtphone apps disrupt industries

bull ldquoWearablerdquo Technologies

bull Gamification NIKE Accenture

bull Datafication

bull New Sensor and Logistics Technologies (ex RFID)

bull New Marketing models in retail Tesco

E Constantinides copy 24 3192014

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 20: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda Part 2

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 25 3192014

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 21: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

What is Social Media

bull Everyone knows Facebook Twitter LinkedIn Hyves and maybe Google+ MySpace

But Social Media is more

E Constantinides copy 26 3192014

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 22: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Citizen Journalism Theuniversityblog Paperli

3192014 E Constantinides copy 27

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 23: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Knowledge sharing Wikipedia Quora EDX Slideshare

3192014 E Constantinides copy 28

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 24: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Video and photo sharing Vimeo Youtube Flickr Instagram

3192014 E Constantinides copy 29

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 25: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Product Review sites Epinions YouTube Tripadvisor Typophile

3192014 E Constantinides copy 30

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 26: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Academic Social Networks Academia Research Gate

3192014 E Constantinides copy 31

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 27: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Social Bookmarking Pinterest Delicious Digg StumbleUpon AddThis

3192014 E Constantinides copy 32

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 28: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Common aspects of Social Media

bull Domain Interactive Internet Web 20

bull Special characteristics Open access interactive content customer generated

bull One-to-one one-to-many many-to-many

3192014 E Constantinides copy 33

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 29: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Weblogs

SNS

Online communities

Forums

Content aggregators copy E Constantinides

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 30: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 36 3192014

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 31: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

March 2013 3192014 E Constantinides copy 37

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 32: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 38

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 33: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 39

SourceNewcom

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 34: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 40

SourceNewcom

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 35: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Social Media 92 of Top-100 businesses and millions of consumers involved

2012 2008 2009 2010 2011

3192014 E Constantinides copy 41

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 36: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 42

70 of the top 100 brands has a Social Media Manager in 2012

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 37: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Behavior

bull Social Media Marketing Strategies

E Constantinides copy 43 3192014

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 38: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Power to the people Social media activism

E Constantinides copy 44 3192014

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 39: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

2 No More Secrets

E Constantinides copy 45 3192014

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 40: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3 Unhappy customers can cause substatial damage

E Constantinides copy 46 3192014

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 41: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

But my customer is happy (donrsquot be so sure)

bull Example 1 Kryptonite

bull Example 2 AOL

bull Example 3 UA

bull Example 4 FedEx

E Constantinides copy 47 3192014

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 42: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

E Constantinides copy 48 3192014

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 43: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of social Media on Customer Buying Behavior

bull Social Media Marketing Strategies

E Constantinides copy 49 3192014

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 44: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Traditional Marketing

Marketing in Web 10 environment The ldquoBroadcastingrdquo Web Marketing in Web 20 environment The ldquoInteractiverdquo Web

The way customers make decisions is changing Model of Customer Behavior ( Kotler et al Marketing Management 2009)

copy E Constantinides 3192014

50

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 45: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Customer Empowerment

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 46: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Customers become Brand Ambassadors

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 47: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

hellipbut also Brand Detractors

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 48: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides 55

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 49: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides 56

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 50: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides 57

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 51: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Agenda

bull What is Social Media

bull How Important is Social Media for Marketing

bull Effects of Social Media on Marketing

bull Effects of Social Media on Customer Buying Behavior

bull Social Media Marketing Strategies (and the future)

E Constantinides copy 59 3192014

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 52: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

60 3192014

Level 5

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 53: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Web 10 Marketing Process The ldquobroadcastingrdquo web

not the 4P Marketing Mix buthellip

The 4S Web - Marketing Mix

Scope Site Synergy System

Source E Constantinides 2002

Strategic Issues

Operational Issues

Organizational Issues

Technological Issues

E Constantinides 61

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 54: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

SOCIAL MEDIA MARKETING

3192014 E Constantinides copy 62

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 55: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Social Media Applications

Blogs Online

Communities Social

Networks

Forums Bulletin Boards

Content Aggregators

3192014 E Constantinides copy 63

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 56: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Social Media as Marketing Tools

Passive Listen the customerrsquos voice Active Engage the customer

3192014 E Constantinides copy 64

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 57: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Active Social Media Strategies

PR Direct Marketing Customer Service

Reach the Influencers

Customize your offer

Engage the customer in Innovation

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 58: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Marketing

Objectives

COOSTO PR Direct Marketing

CRM

Reach the Influencers

Personalize Experience

Tapping Creativity (Co-Innovation)

Social Media Applications

HOW SOCIAL

IS YOUR

BRAND

TwitterReach

Social Media

Marketing

examples

Configurator

Database

Web logs MobileCrunch Direct2Dell

Clorox

DISTIMO

SOOCIAL

Online Communities

Tipp-Ex Technotati

Twittorati

NIKE

Social Networks

Starbucks

AppleAppStore

BestBuy

1-800flowers

McDonalds

Starbucks

FACEBOOK

Forums

B Boards

Epinions

Reviewcenter

AmericanExp

AA

Content Aggregators

BizReport

BuzzCupture

DELL RSS

Grolsch

MyMuesli

Design your

Heineken

PASSIVE ACTIVE

66 E Constantinides copy 3192014

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 59: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Co-Innovation Examples

3192014 72 E Constantinides copy

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 60: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 73

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 61: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Co-Innovation Examples bull Starbucks Build Your Drink My Starbucks Idea

bull Dell Computers Idea Storm

bull LEGO CUUSOO

bull NOKIA Developer

bull OSRAM Emotionalize your Light

bull PampG Swiffer BOEING newairplanecom

bull KLM SuperFly Fly 2Miami

bull HEINZ Commercial

bull Innocentive Challenges

bull Quirky A new co-creation model

3192014 74 E Constantinides copy

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 62: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

The Marketing Process Today

Product service

Marketing E-Marketing Organization

Web 10 Web site

Web 20 Social Media

Level 1

Level 3

Level 2

Level 4

bullTraditional Marketing

Theory Orchestrating

The 4Ps

bullCustomer Behavior bull4S Web Marketing-

Mix Framework bullStrategy

bullOnline Experience also mobile

bullCustomer Behavior bullSocial Media as Marketing

Tools

E

Con

stant

inide

s

77 3192014

Level 5

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 63: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

What is the crucial factor for the future of Marketing

3192014 E Constantinides copy 78

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 64: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

From the dawn of civilization until

2003 humankind generated five

exabytes of data Now we produce

five exabytes every two dayshellipand

the pace is accelerating

Eric Schmidt Executive Chairman Google

copy 2014 Advanced Performance Institute BWMC Ltd All rights reserved

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 65: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Source SOGETI Grating Clarity with Big Data

Big Data= Transactions + Interactions + observations

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 66: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Future The Big Data Challenge Main sources

bull Active Sources Data From Customer Engagement

bull Passive sources Online Talk Customer Voice

bull Internet of Things (NEW)

bull Neuromarketing (NEW) 3192014

E Constantinides copy 81

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 67: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 82

BIG DATA ldquoDataficationrdquo = generation of new data at staggering rates bull Activity Data bull Conversation Data bull Photo and Video Image

Data bull Sensor Data Internet of

Things

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 68: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

INTERNET OF THINGS

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 69: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 85

INTERNET OF THINGS

Source

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 70: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Neuromarketing bull Neuromarketing a collective term describing a

combination of technologies and techniques meant to unravel the customer decision ldquoBlack Boxrdquo

bull Unravelling the impact of emotions in product preference and making purchasing decisions The approach is based on the application of different techniques that allow customersrsquo behavioral predictions (Postma 2013)

3192014 E Constantinides copy 86

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 71: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 87

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 72: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Neuromarketing Techniques

bull External Reflexes Identification of customer reaction patterns on marketing stimuli by studying the customerrsquos Body Language Empathic Design Facial Coding and Eye Tracking

bull Input-output Models the application of such models allows the measuring of effects of various stimuli on peoplesrsquo behavior This approach is possible to be applied today due to the enormous volume of information people publish and distribute on the online public domain about their behavior

bull Internal Reflexes Identification of customer reaction patterns on marketing stimuli by using advanced technologies like Electroencephalography (EEG) and fMagnetic Resonance Imaging (fMRI) Magnetoencephalography (MEG) and Transactional Magnetic Simulation (TMS)

3192014 E Constantinides copy 88

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 73: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Co-Creation Inputs Sources

Active Customer Engagement

Passive Customer Voice

Internet of Things

(Online) Neuromarketing

Innovation NPD Processes

Idea Generation and Concept Development

Design and Engineering

Test and Launch

Analytics

copy UNIVERSITEIT TWENTE

BIG Data

Crowd-Based Innovation

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 74: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Co-Creation as Innovation model

bull Better predictions of market needs -gt Higher NP success rate

bull Higher Customer Satisfaction Loyalty NPS

bull Lower lead times

bull Lower Innovation cost

Crowd intelligence

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 75: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

Main Challenges for the 2014 Marketer

bull Manage the Total Customer Experience Web Social Media and traditional media cross-medial strategies

bull Renewed emphasis on the Customer Understand the New Customer

ndash Win Customer Trust and Create Customer Advocates (but also become Advocate of your Customers)

ndash Harness the Crowd Wisdom The customer as Co-Innovator

ndash From Consumer (segments) to Consumer Networks

bull Reputation Management Crucial

bull Keep up with technology developments mobile wearable technologies RFID Cloud Semantic Web Internet of Things Big Data and Neuromarketing

bull Collaborative Marketing ndash Collaborative Innovation Co-creation

96

3192014

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 76: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

THANK YOU

E Constantinides copy 97 3192014

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 77: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 98

3192014 E Constantinides copy 99

Page 78: Marketing 2020: From Social Media to What? - mai.uom.grmai.uom.gr/files4users/files/Events/various other/UoM Presentation E. Constantinides...NIKOS • Founded in 1961 as the youngest

3192014 E Constantinides copy 99