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Five Pillars of the InfniteTrust, Agile, Creativity Marketer Relevance, Value,
Q In 2015 Salesforce asked 5000 B2B and B2C marketers a big question: “What is the biggest problem marketers face?”
A Their number one response was: “How to drive more higher quality leads.”
This presentation was created to help see the required changes to your marketing foundations to be able to break though the infinite noise and create a scalable, sustainable, and valuable marketing program.. Feel free to reach out to me on Twitter @msweezey to continue the conversation. Mathew Sweezey, Principal of Marketing Insights Salesforce This presentation is compliments of.
Why Do we need New work just fine! Pillars? Mine
Buyers have Tons more control There is more computing power used to do a single Google search than all existing NASA computers combined in 1969. Which they used to land a man on the moon. -‐Michio Kaku’s: Physics of the Future Our foundations were created at a time when businesses had control.
New Buyer Behaviors heu· ris· tic: Enabling a person to discover or learn something for themselves. Digital experiences are heuristic. A consumer can determine if there is value in a web experience with in 1/20 of a second. If it is not valuable then they leave. On average a person only stays on 1.7 pages of a website Nobody taught consumers how to search, how to use email, or use Facebook. They learned on their own. - Cliff Seal 2015
Infinite Noise Yankelovich, a market research firm, estimated a consumer sees 2000-5000 ads per day. This number doesn’t even count social media content. By 2020 there will be 7 connected devices for every person on earth. Each device can create, and filter the noise. We can not reach consumers with mass media if it is filtered by algorithms on devices. - Gartner Research 2015
Ad Blocking a sign not a technology 18% of US consumers use ad blocking software. It is also estimated this number will double in 2016. There are 185 million global users of ad blocking technology. - Pagefair and Adobe, 2015
Path To Purpose to seek purpose Human nature is There is no longer a path to purchase, but a Path to Purpose. Buyers paths are constant strings of moments intertwined together equaling an experience, fulfilling a buyers purpose. What are your buyers purpose for engaging with you? - Google Think, Path to Purpose
Activehighest form of value Discovery Discovery I the Discovery is extremely powerful for marketers to understand because it allows us to fulfill a desired purpose of the consumer. Consider how much we like to discover. The top 7 websites in the world are all places for consumers to actively discovery things. Top 7 Site are: 1. Google 2. Facebook 3. Youtube 4. Baidu 5. Yahoo 6. Amazon 7. Wikipedia -Alexa research 2015
Passive Discovery Finding unexpected things Passive discovery is the secondary action of search. It is the reason we “Surf ” in the first place. We are passively seeking an experience, and trust the things we find on our own. Discovering something new is our purpose.
Self enable self discovery = Trust Discovery We must The modern consumers build trust in a new way. They have found the value of the instant access of the internet and placed a high value on self discovery. They even block your ads! Learn how to help aid in their discovery and you will gain their trust.
So you are a modern marketer? How’s that working out?
70% Of the content we create never gets utilized -SiriusDecisions Report 2013
“ “ "This hurts more than I can say: I was just told Gigaom is shutting down -- it has run out of money. We tried our best, but it wasn't enough," - Mathew Ingram, a senior writer at Gigaom 2015
Being a Mass Media Brand Doesn’t work Newspapers revenue is ½ of what it was in 2004. Digital revenues are only 15% of total revenue for the newspaper industry in 2014. - Pew Research Center The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. Mass publishing doesn't’ work anymore ever for publishers.
71% Of B2B Buyers Have been disappointed with content -Pardot Research Report 2013
25% Of them will never engage with your content again -Pardot Research Report 2013
Forrester Research estimates for every 100 leads a B2B company generates, best in class only convert 1.5 into revenue. Average companies only convert .7 of the leads they generate into revenue.
Pillar ONe of the Infnite Marketer
System of Relevance There are an infinitely growing number of marketing channels and the only way to execute contextual experiences is via a centralized system of relevance. It is the technological foundation of all future marketing efforts.
“ “ The CMO will have the largest IT budget in organizations by 2017. -Gartner Research 2014
Connected Journeys Journey must be personalized across all channels, and contextual to the moment. This means a minimum of the following connected systems: • • • • CRM (system of record) Marketing Automation (system of engagement) Website (owned engagements) Product (increased value)
System of relevance Automation Platform (s) CRM Single Customer View allows for contextual experiences to be automated on any connected channel. Websi te Produ ct API Supports direct integration into your products and website for dynamic in product experiences, and bi directional data flow. Marketing Sales Service Allows for plug and play integrations with other apps who use data, and add to data.
Behavioral Data You must have full behavioral data on each interaction across your owned channels. This data will tell you which content to show, and which moment the person is looking for. Psychographic Data Psychographic data must be leveraged when placing advertising across any media channel. This is the new way of targeting your advertisements, and it is possible to target in real time. Internal CRM Data Your internal CRM data will need to be combined with your Behavioral data for content suggestions, and your psychographic data for better segmentation and content targeting. Data must be able to be bi-directional if it is to achieve it’s full value. More is not better, unless you know what to do with it.
Systems Architect Becomes a marketing role Due to the increase in technology marketing will be responsible for connecting the systems to create seamless experiences. This will create the need for a new in marketing departments. Systems architect’s will be familiar with all systems, and know how to connect, and collect data to execute contextual cross channel experiences.
Fifteen & Thirty Six 15% increase in revenue for those companies who can transform their idea of individual moments into a full customer journey. 36% increase in Customer satisfaction scores for business increases by thirty six percent when we focus on the full costumer experience. *Transforming Customer Experience: From Moments to Journeys, 2013
Pillar TWO of the Infnite Marketer
Holistic Mindset You must understand how modern buyers build and maintain trust via their infinite channels. With out this understanding you will be forced to use marketing campaigns as band aid's for major underlying issues. Marketing’s role becomes a much larger role and one which reaches across all departments to ensure a cohesive customer experience.
Privacy matters The Economist (Intelligence Unit) found 1/3 of current customers stop doing business with a company after a data breech. Retargeting ads shown after the product has been purchased are 4x more likely to discourage further purchase. Privacy is a marketing issue, and we must be aware it affects our brand, and the relationship with consumers. - INSKIN MEDIA, 2014
Trust = Product x Value x Privacy - John Salloum, Data Marketing 2015 Summit A consumer will only interact with a brand they trust. We must understand trust is now built in new ways. Every ad we serve is a exercise in trust, because it relies on privacy, and must provide value. If we forget this we stand to lose the consumers trust, and business. If we abuse customer privacy we lose their trust.
The cost of lost Trust The cost of negative experiences is high! It takes 12 positive experiences to make up for one unresolved negative experience. - “Understanding Customers” by Ruby Newell-Legner
Corporate Mindset We must be able to build bridges between all departments to ensure a holist corporate mindset. A mindset exists when every person is aligned for the same goal. Give the limitless experiences consumers will experience with our brand mindset is the only proactive way to protect your brand, and provide customers with the best experience. In companies like AT&T this role also is being given a new name: Customer Experience Executive.
Without Mindset We create amazing commercials, and beautiful brand imaging, however these are only a single touch among an limitless journey. Mindset holistic, branding is departmental.
Consumer Reviews Upon seeing the “Ship my pants” commercial I did a Google search to find the local store. What I found was an average review of 2.9 out of 5. This created a negative impression directly following the commercial. “SHIP MY PANTS”
Net Positive Experience I then decided to go to the brand website, and it was broken. This created a “NET NEGATIVE” effect and the only way to win me back is to spend more money on another fancy advertising campaign.
“ “ “It is not the height of your highs, but the valley of your lows which will shape your brand” -Andrew Davis, Author of Brandscaping
Leaders Vs Laggards Companies who excel at customer experience out preform the S&P index by 30%, and customer experience laggards by 65%. It must be looked at as a product you produce. -Watermark Consulting
Building and maintaining mindset must be very easy to implement and follow. If not it will be to complicated for people to put into practice, and your results will vary. Keep it simple by making sure everyone can answer these three questions: Building Mindset Can everyone answer these questions the same? 1) What do we value in an employee 2) What do we value in a customer 3) What do we call success
Pillar THREE of the Infnite Marketer
Agile Execution There are an infinitely growing number of marketing channels which require content. This brings about a new level of content we must produce. The only way to create enough content with a high enough success demands a new foundation on how we execute marketing campaigns. We must learn from other business departments who have faced similar issues.
Place your pin on the blue dot. Your goal will be to close your eyes and then draw a straight line to the red dot. Stop when you get there.
Your line probably looks like this.
Now try again, but feel free to stop when ever you want. Leave your pen on the paper, and open your eyes. Recalibrate, close your eyes then continue to draw your line. Take as many stops as you want.
Your second line probably looks like this.
Review User Stories Agile Theory MVP Execute Small and frequent iteration is the key to success when you operate in dynamic environments. Our marketing enjoinment is dynamic since our consumer, and channels are constantly changing. Technology also has now caught up to a place where instant iteration is possible.
Review User Stories User Stories What is their role with the customer? What responsibilities do they have? What issues do they face? What do they want to learn? MVP Execute
Review User Stories M.V.P. MVP Execute Minimum Viable Product: What is smallest way you can provide value to your core consumer. This is your minimum viable product. Create this, then learn how to improve it.
Review User Stories Review ASK MVP Execute It is good to have comparable metrics, but asking consumers directly is the best feedback you can have on how to improve your experiences. • Was the content you engaged with helpful? • How can it be better? • What was the best thing you’ve found?
Pillar Four of the Infnite Marketer
Objective Valuable Marketing has been looked at as a subjective art for many years, and for many years this was correct. Most of marketers work was subjective and intangible. However, this has changed and our work is now one of the most important products our business creates and needs a new system of values to prove it.
Customer Advocacy The switching economy is estimated at $1.7 Trillion dollars. Making it the 10th largest economy in the world, and making churn a major issue we must face. Marketers need to show objective value on holistic marketing efforts and their impact to the happiness of the consumer. This is not best represented by “Share of Wallet” because this puts the impatience on increasing customer spend. CSTAT scores rather place the focus on customer happiness. • B2C: CSAT score • B2B: NPS metric
Weighted Pipeline Weighted Pipeline = Volume x Efficiency x Velocity Weighted pipeline allows you to show a metric which is valued by the business, because it is in dollars expected to come in. It can predict future outcomes, is comparable, and highly accurate. It is a metric which shows objective value!
Weighted Pipeline (velocity) Velocity allows you to track the speed of a prospect/buyer thought the stages of the buyers journey. This allows for a holistic measure of the impact on a buyer of all marketing activities, and is a metric which is valued by businesses executives because it helps predict the future outcomes of revenue.
Weighted Pipeline (efficiency) Efficiency is the measure of how many prospects/ buyers make it from one stage to the next. This allows you to measure and optimize the holistic experience of a buyer in their journey. It is valued by business leads because when combined with velocity it accurately predicts future revenues from marketing activities.
Pillar FIVE of the Infnite Marketer
Purposeful Action Noise takes on a new level and we must realize it takes constant engagement to break though. The engagement also has to take on a new form because mass publishing does not fulfill the purpose of the modern buyer.
“ “ We need to step back to our roots and become digital anthropologist, and digital psychologist. -Matt Lawson, Director of Performance Marketing Google
Action Branding First proposed by Cindy Gallop and put into action by Levi, Action Branding proposes a new idea of how brands build connections with consumers. Shared Action + Shared Values = Shared Profit -Cindy Gallop in her NYC apartment
Shared Value Get back to work. Both Levi and Braddock had the same goal. + Shared Action = Levi hired the towns people to be in their ads, and gave $1 million to rebuild the city, and created an ad campaign for the city. Shared Profit They both shared in the profit. Braddock got back to work, and Levi showed their honest brand.
Mediated Persons Have new rules On average a person has 7.4 social channels, and will be very hard to reach on those channels due to increased competition from their friends, digital ad budgets, and ad blocking software. Larry D. Rosen (editor), The Wiley Handbook of Psychology, Technology and Society Mediated relationships require “Frequent and phatic gestures” to build and maintain mediated relationships and so our marketing must evolve as well.
The New Middle a new marketing role Creating, building, and managing relationships across social media will require frequent small and phatic gestures. These actions can not be created by advertisements, or automations. They must be managed and executed by humans creating a new role for marketers, “The New Middle”. Traditional Marketing Digital Rapport building, lead generation 20% 60% Sales Acquisition 20%
Micro use to “Like” Actions Provide a Small phatic gestures called “Micro Actions” will be used by the new middle. These are likes, comments, shares, re-shares, etc. They also have the ability to create instant notifications on mobile devices by passing news feeds altogether. They are able to reliably break through the infinite noise because they are warranted, wanted, and valued by consumers and can not be blocked by ad-blockers. They also fulfill consumers purpose for being social in the first place.
Conclusion (& prediction) The future of marketing is vastly different because buyers are different, and the ways we reach them are different. We must make strides to create scalable, sustainable, and valuable marketing systems. The future belongs to those who understand what is possible, why, and use modern media to build trusted relationships and valued experiences. Advertising alone will not get us there!
Thank You Mathew Sweezey Principal of MarkeFng Insights, Salesforce firstname.lastname@example.org @msweezey