playing the relationship game in today’s connected world

Presented by

Playing The Relationship Game in Today’s Connected World

John SimpsonCEO – One North Interactive

Kalev PeeknaManaging Director, Strategy – One North Interactive

What do these brands have in common?

The Relationship Era

“The shift to a Relationship Era approach suggests a decreasing reliance on the traditional use of mass media to influence and persuade a passive audience to buy more of whatever the marketer is trying to sell.

Relationship Era marketers embrace approaches that build stronger relationships between their brands and people.”

www.relationshipera.com

Some of the biggest, most savvy marketers are purposefully ‘toning down’ their advertising.

http://digiday.com/brands/pgs‐new‐approach‐to‐digital

1:1 Relationships now the focus of B2C“The best form of marketing is the kind that does not feel like marketing.”

http://digiday.com/brands/pgs‐new‐approach‐to‐digital

A Quick Quiz – True/False?

• Revenue generation is not transactional• The buying decision is a long process • Your value to clients isn’t easily or quickly replaced• Client relationships are complex, involving multiple touch points between several individuals

• Current clients are an important source of new revenue• What your clients feel about (and say about) your business strongly impacts the decisions of other clients

The Relationship Cycle

One North’s Adaptation of the McKinsey Consumer Decision Journey.

Q1Q1Generating Awareness

What percentage of B2B organizations engage in cold calling?

30%30%Generating Awareness

What percentage of B2B organizations engage in cold calling?

According to Sales Pipeline New B2B Buying Process Internet Marketing by John Cullen, stats show that only 30% of B2B organizations still cold call.

Organic discovery“Relationships between people and brands have moved

beyond a structured research process to organic discovery.”

http://www.forbes.com/sites/gyro/2012/05/30/four‐ways‐brands‐can‐build‐better‐relationships

Organic is more authenticTaco Bell creates a brand impression from an organic

opportunity.

Sharing: Will It Affect Brand Experiences?What impact does sharing have on your brand when US and UK sharing patterns start to resemble those of China or India?

http://www.slideshare.net/kleinerperkins/kpcb‐internet‐trends‐2013

Forrester: The Age of the Customer

Age of Manufacturing

Age of Manufacturing

• Ford• GE• RCA• Boeing

Age of Distribution

Age of Distribution

• Walmart• Toyota• UPS

Age of Information

Age of Information

• Amazon• Google• Intuit

Age of CustomerAge of

Customer

• Amazon• Southwest• UCAA

1900‐1960 1960‐1990 1990‐2010 2010 +

With online reviews, social media, and mobile access, it’s easy for your customers to know more about your products, services, competitors, and pricing than you do. As strategy guru Michael E. Porter said: “Where the buyer has full information about demand, actual market prices, and even supplier costs, this usually yields the buyer greater bargaining leverage.”

—Forrester, The Business Impact of Customer Experience, 2014

Q2Q2Driving Consideration

What percentage of purchase decisions are completed BEFORE the supplier is contacted?

57%57%Driving Consideration

What percentage of purchase decisions are completed BEFORE the supplier is contacted?

According to a McKinsey study, 57% of purchase decisions are completed before a supplier is contacted.

Context Drives Consideration and Loyalty

Driving Consideration Across Channels

Q3Q3Loyalty

How many B2B Marketers have programs dedicated to client retention?

55%55%Loyalty

How many B2B Marketers have programs dedicated to client retention?

According to a survey by Loyalty 360 and SAS, only 55.4% of B2B marketers address client retention as a dedicated program or activity.

“Loyalty counts more and costs less than awareness”Harvard Business Review

• Lets you add up to four family members in the same household to your account

• One in 3 households will have access to Amazon Prime in 3 years

• "Amazon Student" $39 version of Prime for folks with a valid .edu email address

http://blog.launch.co/blog/the‐cult‐of‐amazon‐prime.html

McKinsey B2B Brand Awareness Survey

McKinsey’s research revealed that most B2B brands are completely “talking past” the drivers of loyalty.

“Our research suggests a potential stumbling block, though: a marked apparent divergence between the core messages companies communicate about their brands and the characteristics their customers value most.”

Are You Avoiding Loyalty?

According to the General Counsel Excellence Report:• Only 1 in 8 (12%) of firms always meet up with their clients to see how satisfied the legal department was with their work

• 18% never meet with clients to discuss satisfaction

Source: General Counsel Excellence Report 2013http://www.globallegalpost.com/publications/732553b59c50ba66c5f233141ee9226f

Q4Q4Influence

How many General Counsel cite referrals as the most trusted source when researching a law firm?

86%86%Influence

How many General Counsel cite referrals as the most trusted source when researching a law firm?

According to the General Counsel Excellence Report, 86% of general counsel cite referrals as the most trusted research source.

(65% use law firm websites, 57% use information directly from the firm)

Your Clients Actively Refer

88% of B2B professional service buyers are likely or very likely to recommend providers to friends or colleagues.

Source: Hinge Marketing, How Buyers Buy Professional Services

So What Does the Relationship Game Mean for Me?

Big data will inform your approach to developing relationships

Big Data – It’s Everywhere

“The findings offer an early glimpse of a new, personalized Internet where sites have the ability to adjust many things—look, content, prices—based on the kind of person they think you are.“ ‐WSJ

“Nearly 60% of chief marketers in this year's poll admitted that they've fallen short in their usage of advanced analytics to capture customer insight across all touch points, and more than half said they're failing to take advantage of social networks to curry customer collaboration.”

Big Data and B2B

Big Data in B2B Marketing isn’t about tracking individuals; it’s about tracking relationships. Big Data offers the promise of linking discrete marketing activities into a comprehensive picture of business development success.

34% of B2B marketers “sometimes” attribute leads to more than one activity.

26% of B2B marketers attribute leads to one or no marketing programs.

EventsEvents

EmailEmail

SocialSocial

WebsiteWebsite

PitchesPitches

MediaMedia

Source: Crains BtoB Magazine, http://prn.to/1dejRpf



Cross‐channel content marketing becomes the essential skill set of the legal marketer

The Rise of Content Marketing“Content marketing is any marketing format that involves the creation and sharing of media and publishing content in order to acquire customers. This information can be presented in a variety of formats, including news, video, white papers, e‐books, infographics, case studies, how‐to guides, question and answer articles, photos, etc.Content marketing is focused not on selling, but on communicating with customers and prospects.”

• 93% of B2B marketers use content marketingContent Marketing Institute, 2014

“Like it or not, you are a publisher” – Brain Traffic

Profile of Best‐in‐class B2B Content Marketer

Most Effective Least Effective

Has a documented content strategy 66% 11%Has someone who oversees content marketing strategy

86% 46%

Average number of tactics used 15 10Average number of social media platforms used

7 4

Percent of marketing budget spent on content marketing

39% 16%

Challenged with producing effective content

35% 61%

Source: 2014 B2B Content Marketing Trends, CMI

Multichannel Management is a sign of maturity & effectiveness

Source: Digital Evolution in B2B Marketing,Marketing Leadership Council & Google.



Cross‐channel content marketing becomes the essential skill set of the legal marketer

Stories, not taglines, will represent our brand

From Ernst & Young to EY

Authentic Innovation