Decoding Modern Marketing: Marketing Midsize Brands In The Digital Age

DECODING MODERN MARKETING An executive guide to marketing midsize brands in the digital age.

January 2016

BRANDS ARE NOT IN CHARGEConsumers are the boss, so the only way to win is to superserve them.

Decoding Modern Marketing is a 10 part series, designed for midsize companies, which succinctly explains how to build and operate a modern marketing system. The series will outline what companies need to master in order to superserve the all powerful modern consumer.

AN INTRODUCTION

DECODING MODERN MARKETING

1. FEBRUARY Develop the Plan 2. MARCH Create the Brand 3. APRIL Connect with consumers 4. MAY Cultivate consumers 5. JUNE Convert Consumers

THE SERIES

6. JULY Maximize Lifetime Value 7. AUGUST Build the System 8. SEPTEMBER Operate the System 9. OCTOBER Make a Marketing Culture 10. NOVEMBER Marketing Tech

Piece by piece the internet has changed everything about buying and selling.

TIME TO CHANGE

With the power having shifted to digitally savvy consumers, now everything a company does with consumers fundamentally affects its performance and value. That’s why companies need a methodical, evidence-based approach to strategic marketing planning, which guides customer experience (CX) and tactical execution throughout the consumer journey.

CHAPTER 1. DEVELOP THE PLAN

Forget the funnel. The consumer journey is very different now.

THE JOURNEY

GET A ROADMAP• Data delivers insights that guide a

consumer-centric planning process

• Strategic research tells you who to target, when and where to interact, what to say and how to say it

• With strategy and vetted tactics in hand you can plan a roadmap to accomplish business goals over time

* McKinsey & Co

IN THIS CHAPTER Knowledge gathering & gap analysis Segmentation & personas Consumer Journey mapping Channel strategy Content strategy Messaging framework Business goal definition Tactic prioritization & resource requirements Playbook roadmap & ROI projections

A brand is more than a product name. It’s the sum of all the impressions a consumer has, built on the foundation of a clear idea of what a company stands for. These attributes defend against commoditization and create valuable brand preference. That’s why before going to market a brand must ensure it will resonate with the consumer and align with company values.

CHAPTER 2.

CREATE THE BRAND

Consumers need to know not only what a brand does, but also why.

WHAT DO YOU STAND FOR?

BRAND STRATEGY• Ensure a brand is healthy before marketing

it to consumers

• Brand strategy defines brand character and attributes that become the basis for building the intangible value of the brand

• Brand strategy output enables a brand to be consistent and meaningful across all consumer experience touch-points

IN THIS CHAPTER Brand values Brand promise Positioning statement Brand personality Messaging strategy Visual brand Voice & tone

Getting noticed has always been the job of advertising, but today it also includes social media, content, search and more. Paid media stills drives awareness and acquisition for many brands, but the good news is it doesn’t have to. The technology enabled consumer has created a new formula for customer acquisition.

CHAPTER 3. CONNECT WITH CONSUMERS

Consumers are more demanding and ads alone are not enough anymore.

GET ATTENTION

• Advertising used to do everything; get awareness, make the pitch and deliver the buyers

• Now you can do a lot of it more cost effectively in digital channels

• Advertising is still important

• But its big job now is to drive people to digital

DRIVE TO DIGITAL

IN THIS CHAPTER Advertising & paid media channels Millennials & psychgraphics Media planning & buying, programatic Search SEO Geo-targeting, contextual, behavioral Content marketing, Social media Multivariate testing Advocates/loyalty Landing pages, personalization

Most people are not ready to buy, they need to be cultivated; to understand your value proposition and why your brand is better than the competition. If a brand waits until the buyer is ready to buy, it’s often too late. If preference is created first, conversion is much easier when the time comes.

CHAPTER 4. CULTIVATE CONSUMERS

Content earns trust and understanding. It’s the currency of modern marketing.

TURN AWARENESS INTO BRAND PREFERENCE

EXCHANGE VALUE• Exchange content for data & attention

• Use that data to make your brand even more personally relevant and valuable

• Content marketing only works if it’s valuable to the consumer

IN THIS CHAPTER Social cultivation Ratings and reviews Content marketing & SEO Content creation User generated content, Email & drip marketing CRM & marketing automation User experience (UX) PR, Events, Charitable marketing

Identify where prospects are in the buying process and know when and how to accelerate them to conversion. Create brand experiences in every channel that make it easy to do business with you.

CHAPTER 5. CONVERT CONSUMERS

The next best thing to a great salesperson is a persuasive digital experience.

BUILD A SALES MACHINE

FOCUS YOUR WEBSITE ON CONVERSION

• You have the most control of your pitch on your brand website and your social sites

• Technology lets you adapt your pitch in real time, just like a good sales person

• Let digital do the work of a sales team

IN THIS CHAPTER CRM & Marketing automation eCommerce & Direct response Drive to sales & showrooming Multivariate testing B2B vs B2C Upsell/crosssell, promotions Personalization & landing pages

Get your customers on your side. Understand how to maximize their lifetime value and activate them on your behalf in social media. They will bring you more business and more prospects.

CHAPTER 6. MAXIMIZE LIFETIME VALUE

Your customers are your best sales people. Earn and enable their loyalty and advocacy.

EMPOWER BELIEVERS

SUPERSERVE CUSTOMERS• Use data insights to understand

the customer lifecycle

• Convert customers into social media advocates

• Reward loyalists

IN THIS CHAPTER Enable advocacy, Ratings & reviews Lifecycle planning Social content Loyalty programs & retention Consumer generated content Building a community, Customer experience (CX) CRM

Digital technology has created direct channels between companies and consumers. So brands don’t always have to pay a 3rd party to deliver their messages. Today it’s possible to build, and own, a self-sustaining brand marketing system.

CHAPTER 7. BUILD THE SYSTEM

Invest in repeatable marketing infrastructure vs. one time paid media.

THE GIFT THAT GOES ON GIVING

BUILD IT AND THEY WILL COME • The right system enables you to

attract, convert and retain consumers

• All the pieces should be designed to work together

• Like building a town, you need a plan, so you can build it over time

IN THIS CHAPTER Brand site, Social sites Mobile, Blogs Customer service Analytics, Email, Kiosks / retail / digital display Employee marketing enablement CRM / Marketing automation / CMS Social media management tools

A marketing system is like a car; it needs navigation, fuel, maintenance, and a good driver. Once companies have the pieces of their brand marketing system in place, the challenge is to maximize its potential and run it cost efficiently.

CHAPTER 8. OPERATE THE SYSTEM

Focus your team on consumer engagement and let technology handle the mechanics.

DO MORE WITH LESS

FUEL THE SYSTEM • Content is the fuel, data analytics are

the navigation

• Staff correctly. Outsource infrequently required specialties

• Top flight content creation is the biggest challenge

IN THIS CHAPTER Staffing Budgeting Data analytics Attribution, ROI Content creation Technology maintenance Roles of agencies, selection

Succeeding with the modern consumer requires that companies make the shift from a product-centric culture to consumer-centric culture, if they haven’t already. This means a real change to your culture that puts the consumer at the center of everything.

CHAPTER 9. MAKE A MARKETING CULTURE

The only way to win is to super serve the consumer.

IT’S ALL ABOUT THE PEOPLE

CREATE A CONSUMER CULTURE • Advocate for the consumer

• Measure consumer behavior, adapt and innovate

• Align consumer commitment and corporate purpose

IN THIS CHAPTER Human Centered Design Voice of the Consumer role Insights driven innovation Internal communication plan Personas Social enablement Integrated consumer analytics

Technology has enabled today’s empowered consumer and provides the building blocks for modern marketing. But companies need to make sure they have all the basic, essential technologies in place and working well before they focus on the latest fads and innovations.

CHAPTER 10. MARKETING TECH

Forget the flavor of the month. Make sure all the basics are in place first.

DO YOU REALLY NEED IT?

• Technology powers and leverages everything you do

• Most marketing technology has become affordable and “rentable”

• Understand what tech you need and what you don’t

IN THIS CHAPTER CRM, CMS Marketing automation Analytics, dashboards Rating & reviews Email platforms Sales software Customer service Research options Media buying platforms

DECIPHER THE MECHANICS

For more information call 678-449-2010

email scott.solter@iqagency.com www.iqagency.com

Decoding Modern Marketing: Marketing Midsize Brands In The Digital Age

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