Marketing 3.0

Out with the old
In with the new

Early marketing was easy


But consumers became smarter  and distrustful of marketing


As a result marketing has had to evolve


0   .But some marketers are  stuck in the past MARKETING  3.

0   .They’re still using old metrics with new media •  •  •  •  •  •  Impressions Reach Frequency Ad recall CPM Mass market segmentation MARKETING  3.

it’s earned by what you do and how you respond to your customers needs and feedback.Hint: Impressions are meaningless •  It’s engagement you should be measuring because engagement is not given. •  Is your marketing the kind of marketing that people want to interact with ? •  Is your marketing the type of marketing that people want to share with others ? MARKETING  3.0   .

And consumers are laughing at them MARKETING  3.0   .

0 Product-centric Marketing 2.0 Consumer-centric Satisfy customers & brand loyalty Information technology Smarter consumers & mass market Differentiation Functional & emotional Micro segmentation Marketers/consumers Marketing 3.0 Value-centric Meet emotional and rational needs of consumers Connectedness of consumers People instead of segments Value of product to consumers emotions Functional. emotional & rational Consumers collaborate with each other Consumers MARKETING  3.But in order to stay relevant marketing is changing again Marketing 1.0   Objective Sell products to the masses Industrial Revolution Mass market Product driven market Functional Mass communication Marketers/companies Enabling Forces How marketers see the market Key Marketing Concept Value Propositions Interaction with consumers Power of branding .

0   Mission   (Why)   Deliver Satisfaction Realize Aspiration Compassion Vision   (What)   Profit Ability Return Ability Sustain Ability Values   (How)   Be Better Difference Make a Difference .0 In a nutshell Mind   INDIVIDUAL   COMPANY   Heart   Spirit   MARKETING  3.Marketing 3.

0   . MARKETING  3. –  People create new ideas and talk to each other via social media. –  People trust each more than marketers.What led to marketing 3.0 ? •  The age of participation and collaborative marketing via the Internet. –  Recession has shaken the core values of most consumers (shift from wants>needs).

More collaboration tools means more trust between consumers MARKETING  3.0   .

At a time when customers are  demanding more  MARKETING  3.0   .

0   Six  drivers  of  brand  credibility     .Therefore organizations need more brand credibility Trust Authenticity As promised Real & Sincere Real People Informal Listening Empathy “Welcome” Humility Feedback Transparency No Secrets Easy to find Easy to understand No Hiding Responsiveness Follow-up Making changes Acknowledgement Thank you Confidence Consistency Integrity Authority Affirmation Playback Reinforcement Search Placement Community MARKETING  3.

0   .Because company outputs don’t  always match customer expectations MARKETING  3.

Marketers need to understand that  social communities have cycles MARKETING  3.0   .

Everyone can be an influencer MARKETING  3.0   .

0   But  don’t  ignore  the  power  of  one  to  influence  others   .Mass Connectors & Mavens rule Can you really ignore them ? MARKETING  3.

0   .Demographics of mass influencers MARKETING  3.

You only have one chance to make a first impression.0   . make it count MARKETING  3.

" MARKETING  3.And with all this going on  collaborative media is evolving "The web is at a really important turning point right now” "We're building toward a web where the default is social.0   Mark Zuckerberg CEO Facebook .

 MARKETING  3.0   .The percentage of weekly social media users is at 73% of the online population.

0  or  perish       .So….0   Adapt  to  MarkeMng  3. MARKETING  3.

0 .MARKETING  3.0   Kotler’s Ten Credo’s of Marketing 3.

MARKETING  3.1: Love your customers. respect  your competitors •  Win their loyalty by giving them great value and connecting with them emotionally.0   Example: •  Cambell’s Soup changed the color of its packaging during Breast Cancer Awareness Month and improved demand significantly .

Example: •  Wal-Mart’s transformation from lowlow prices to green giant.2: Be sensitive to change and be ready to transform •  Business landscape is changing and competitors are getting smarter along with your customers.0   . MARKETING  3.

0   . Example •  Body Shop practice of community trade and purchasing natural ingredients from local and poor communities around the world.3: Guard your name Be clear about who you are •  Brand reputation is everything thus ensure that you communicate your positioning and differentiation to your target market. MARKETING  3.

They focus on a unique segment of early adapters and technology lovers which leads to higher margins per unit sale.4: Customers are diverse Go first to those who can benefit from you •  Simple principle of segmentation but you can’t and should not try and be all things to everyone.0   . Example: •  Apple iPad is not a mass market product and Apple has never strived to be a mass market product. MARKETING  3.

0   Example: •  Target has positioned itself as the retailer that offers great products at a fair prices and by doing so is attracting more of a upper middle class audience who is willing to spend more money. MARKETING  3. .5: Always offer a good package at a fair price •  Price and product must match customers expectations not yours.

•  Whole foods has a store locator on their home page. .6: Always make yourself available Spread the good news •  Don’t make it hard for customers to find you.0   Example: •  Amazon. MARKETING uses search to direct consumer directly to product pages when they search for specific products.

0   Example: •  Amazon.7: Get customers. MARKETING  3. . keep them grow them •  Get to know your customers one on one so you have a complete picture of their builds recommendations based on past customer purchases and delivers personal recommendations via customized home page and email. preferences and behavior.

It tries to transform the lifestyle of customers into healthy ones. It’s a service business now •  You must have the spirit of wanting to serve your customers. MARKETING  3.8: Whatever your business.0   Example •  Whole Foods sees its business as a service to customers and society. .

It works with local farmers to improve productivity and delivery.9: Always refine your  business processes •  It’s a never ending process. Johnson is well-known for doing business with local suppliers.C. . exceed your promises to customers & suppliers. MARKETING  3.0   Example •  S.

a pharma company is allocating more money to R&D to develop new drugs even though it has resulted in a lower ROI for Wall Street and investors.10: Gather relevant information. but use wisdom in making decisions •  Keep learning and use your accumulated knowledge & experience to make decisions. Example: •  Eli Lilly.0   . MARKETING  3. •  Consider more than the financial impact of a decision.

Also don’t forget Rich’s  additions to these Credos MARKETING  3.0   .

MARKETING  3. . They will even pay people $2000 to quit because people that are more interested in money that job satisfaction are not employees they value.11: You’re only as good as  your employees •  The best branding and marketing in the world cannot make up for an employee who doesn’t care about your customers.0   Example: •  Zappos goes out of their way to train and retain talented people.

0   .12: You can’t rely on outdate  marketing in an era of new media •  Impressions. and mass marketing. ad recall mean little today. MARKETING  3. ARP. reach. Start thinking like a consumer. •  Stop trying to quantify everything with a spreadsheet analysis because your competitors are doing the same thing. •  Stop thinking CPM. frequency.

13: Don’t cut costs when it comes to customer service •  “If my call is so important to you then why am I on hold with a recorded voice telling me “my call is important to you”.0   . MARKETING  3.

14: Learn to listen before  joining the conversation •  Would you walk up to two people at a party and start talking without finding out what they are talking about ? MARKETING  3.0   .

not as a marketer.In summary… •  The recession has changed consumer behavior forever..0   . •  Consumers have more power than via the evolution of collaborative tools on the Internet. •  Reward employees who deliver a great customer experience. •  Stop using outdated marketing and realign processes around your customers not your company. •  Think as a consumer. MARKETING  3.

twi/er.worldofdtcmarketing.About me Richard Meyer •  My resume   MARKETING h/p:// •  My marketing BLOG •  MY DTC BLOG   h/p://   .linkedin.0   h/p://www.

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