non traditional marketing - prof iñigo gallo
TRANSCRIPT
Non Traditional MarketingIñigo Gallo
Assistant Professor – IESE Business School
“It’s hard to say exactly what has driven the shift -perhaps it is our connected lives, or our abundance of choice, or the ability to get what we want when
we want it. But anyway you explore the trend, a new consumer is emerging: the Empowered Consumer”
Steven Rosenbaum
new consumer?
NEW CMO?doing orga-
nizingplanning
doing orga-nizingplanning
challenges we face
doing orga-nizingplanning
challenges we face
CHALLENGE #1: understand new journey
% of decisions?
90% of budgets
CHALLENGE #1: understand new tool kit
CHALLENGE #1: understand new tool kit
CHALLENGE #2: audiences vs. consumers
be part of the
conversa-tion*
generatethe
conversa-tion
*25% of content that appears in web searches for specific brand names is generated by consumers
CHALLENGE #2: audiences vs. consumers
be part of the
conversa-tion
generatethe
conversa-tion
0
5
10
15
20
Daily Once aweek
Once amonth
Once ayear
Neverdone this
MBA interactions w/ brands on social media
average views x video – top 100 global brands
how to overcome thelack of engagement?
22
What consumers care about What I
know about
the art of storytelling
CHALLENGE #3: experiences vs. products
experiences around your
product
Enjoy it out of home (with someone else)
PRODUCTyogurt
Enjoy it out of home (with someone else)
PRODUCTCloser to cafeteria
style & participate in the elaboration process
coffee
Enjoy it out of home (with someone else)
PRODUCT
Participate in the elaboration process
Learn: analyze, track, compare, …
tennis gear
how do you communicate an
experience?
communication of experiences is PERSUASIVE as long as it helps consumers TRANSPORT
into the experience
doing orga-nizingplanning
#1 new journey#2 audiences
#3 experiences
doing orga-nizingplanning
CHALLENGE #1: complex media plans
CHALLENGE #2: understanding new metrics
Source: Hoffman and Fodor, Can You Measure the ROI of Social Media Marketing?, MIT Sloan Management Review, 2010
Don’t give me information…
Give me INSIGHT
CHALLENGE #3: understanding attribution
1 Prepare your data
store it so that comparison is easy
detect patterns and apply simple rules
CHALLENGE #3: understanding attribution
1 Prepare your data
2 Experiment
TV spendingorganic search
display advertising
culture ofexperimentation
1 Prepare your data
2 Experiment
3 Apply statistical models
math increasingly important
doing orga-nizingplanning
#1 media plans#2 metrics
#3 attribution
doing orga-nizingplanning
CHALLENGE #1: break the silos
develop / find the talent!
digital marketing
doesn’t matter
marketing in adigital world
does
transactionalcustomers
consultativecustomers
Know what they want
You: commodity
Don’t want to meet
Cost focus
Criteria: price & convenience
Have a problem
Value your time
Want meetings
Advice focus
Criteria: expertise& trust
type of products / clients / salespeople
$Source: Neil Rackham, To increase sales change the way you sell, IESE Insight 2014
CHALLENGE #2: more agencies, less work
CHALLENGE #2: more agencies, less work
jury notout yet
coordi-nation
costs up
respon-sibility
stillyours
CHALLENGE #3: total transparency, a must
challenges we face
doing orga-nizingplanning
Non Traditional Marketing
Iñigo Gallo