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Kurt Holstein is one of the most experienced and thoughtful digital marketing executives. He is painting a vivid picture at the INTEAD Global Marketing Workshop in New York of what effective personalized digital marketing looks like and shows great examples. He also gives a glimpse of the future capabilities and delivery channels of digital marketing.
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The Digital & Social Marke2ng Environment or
How we lost the funnel!
June 20, 2014
Global Marketing Workshop for Academic Leaders
June 18–20, 2014 • SUNY Global Center • New York City
Introduc)on
• Kurt Holstein President Azoic Ventures – Cornell ’82 Opera2ons Research & Industrial Engineering – Spent 16 years at P&G in Brand Management before leaving to start RoseOa in 1998 – Grew RoseOa from two employees to one of the top 5 digital agencies in the US with
1,200+ Employees – Sold RoseOa to Publicis in July 2011 for $575mm – Re2red for 3 months…was bored out of my mind – Started Azoic Ventures in Nov 2011 as an early stage venture fund. 11 investments to
date – Also the Marke2ng Services Advisor to AEA Investors, one of the oldest PE firms in NYC
with $7.2B under management
What We’ll Cover Today
1) Discuss how digital ini2ally changed marke2ng
2) Consumer expecta2ons in a digital and social marke2ng environment
3) How mobile and tablet devices are changing the user experience
4) Where we are headed next
UNDERSTAND HOW DIGITAL HAS CHANGED MARKETING & ADVERTISING
Wow..That’s Really Old
1979 -‐ Apple II Introduced by Steve Job’s & Wosniack 1981 -‐ IBM introduces it’s first PC 1983 -‐ First Compaq “PORTABLE”
1982 Kurt Starts as an Assistant Brand manager at P&G
Marke)ng 33.3%
GP 33.3%
COGS 33.3%
% of Net Income
Tradi)onal CPG Brand Economics
0%
20%
40%
60%
80%
100%
50%
10%
40% Promo2on
Print/Radio
TV
Marke2ng investments and programs were simple and narrowly defined
% of Marke2ng Spend
• Search (SEO/SEM) • Banner Ads • Email lists
• e-‐Commerce Sites • Microsites • Blogs • IM Bots
• Personalized DM • Desktop Widgets • Toolbars • Template-‐driven emails • Online Points Prgms
Web 1.0 Advances in digital technology changed the way people interact with and experience a brand (late 1990’s – early 2000’s)
Awareness & Acquisi)on
Engagement & Conversion
Consumer Rela)onship & Loyalty Marke)ng
Digitally Enabled
“Top Down” Approach
Tradi2onal Print, TV, PR and Radio Ads
FSCIs, Circulars, POS, Catalogs and Call Centers
Direct Mail, email, Frequent Shopper Cards
Digital Marke)ng Tac)cs Evolved Quickly through 2010 Very rapid evolution from static “One Size Fits All” to dynamic digital marketing tool
Search • SEM keywords • Keyword Op2miza2on • AOribu2on Models • Image search • Video in search
Web sites • Sta2c web pages • Forums • News groups • html
• Dynamic Web pages • Web services • Rich Internet Applica2ons • Apps/Online Tools
Email • Image-‐based sta2c emails
• Template, decision rule driven dynamic emails
• Image rich/video embedded
Ad Banners • Flat sta2c banner ads • Rich media ads • Real Time Bidding
Web 1.0 Web 2.0 Tactics:
Community
Web 3.0: Web 3.0
Social Communi2es are the New Major Marke2ng Channel
(percentages may not total 100% because of rounding)
Decrease Increase Stay the same Social media
Mobile
Online video Game marke2ng
Email Sta2c display ads
Direct mail
Radio Outdoor
Magazines Telemarke2ng Yellow pages Newspapers
86% 11% 4%
84% 13% 3%
83% 15% 2%
83% 13% 4%
78% 19% 3%
73% 17% 11%
62% 23% 15%
21% 37% 42%
18% 41% 41%
16% 49% 35%
15% 59% 26%
11% 49% 40%
11% 37% 53%
8% 29% 64%
6% 33% 61%
Search engine marke2ng
Interac2ve display ads
Increasing effec2veness
Declining effec2veness
Trad
i)on
al
Interac)ve
Source: Forrester Research US Interac2ve Marketer Online Survey n=235 Marketers
Social Media and other interactive marketing channels are expected to show the greatest increase in marketing effectiveness over the next 3 years.
Market Dynamic
CONSUMERS EXPECTATIONS in a DIGITAL & SOCIAL ENVIRONMENT
• Is your program personalized for your audience based on their preferences?
Personalized
• Does your program engage and add value to your audience?
Engaging
• Are you leveraging digital technologies for real-‐2me communica2ons and connec2ons with your brand?
Real Time
• Do you allow your audience to par2cipate in and contribute to marke2ng ac2vi2es?
Par2cipatory
• Are you providing value and u2lity to your audience beyond your product aOributes?
Useful
5 Ways To Be Compe22ve within Digital Marke2ng
PERSONALIZED, REAL TIME, TECHNOLOGY ENABLED, HELPFUL
Domino’s shows you the real-‐2me status of your custom built pizza, from order to delivery
PERSONALIZED, REAL TIME, TECHNOLOGY ENABLED, HELPFUL
Domino’s shows you the real-‐2me status of your custom built pizza, from order to delivery
PARTICIPATORY
PARTICIPATORY
REAL TIME, ENGAGING
REAL TIME, ENGAGING
Personalized
Engaging
Real Time
Par)cipatory
Useful
ü
ü
ü
?
ü
REAL TIME, PRODUCT PERSONALIZATION TOOL www.mykleenextissue.com
www.shaveeverywhere.com became the #1 seller in Personal Grooming category on Amazon.com for the first two months aver campaign launch.
ENTERTAINING?
• Does your program align itself with a philanthropic purpose and invite your audience to give back to a larger cause?
Socially Conscious
• How are you using digital technologies to help service your audience needs?
Helpful
• Does your program allow for interac2ons between your audience and their community?
Social Interac2ons
• How does your marke2ng program influence the product development process?
Product Development
• Your audience will pay for good content, are you providing it to them? Content
5 Ways To Be Compe22ve in Social Marke2ng
Within 48 hours of the Haiti earthquake the app was built and available
REAL TIME
The Obama campaign in 2008 generated a massive stream of mo2va2ng, engaging content that they successfully distributed across email and social media plaxorms; YouTube, TwiOer and Facebook and their own websites
SOCIAL – CONTENT is KEY!
By the 2012 campaign in 2012 Obama used Facebook as it’s primary plaxorm to engage volunteers
SOCIAL – CONTENT is KEY!
The engagement results were DRAMATICALLY different!
SOCIAL – CONTENT is KEY!
Obama averaged almost 20mm YouTube views over 4 weeks leading up to the elec2on and WON with only 61mm total votes
SOCIAL – CONTENT is KEY!
Goal: Help BOTH the Consumer (save money) and the Brand (make money)
PERSONALIZED, HELPFUL AND PROFITABLE!
Engaging
Real Time
Par)cipatory
Useful
ü
ü
ü
ü
Personalized
ü
PERSONALIZED, REAL TIME, HELPFUL
HOW MOBILE & TABLETS DEVICES ARE CHANGING THE USER EXPERIENCE
The Mobile Explosion
Consumer mobile device penetration increased 10x in the last two years
-- Manhattan Research
2013
The year when the number of Mobile internet users SURPASSED the number of Desktop internet users.
--"Internet Trends," Morgan Stanley.
US Smartphone Adop2on is Entering the Late Majority Phase
source: Horace Dediu. Asymco
Size Really Does MaXer!
Where are we Headed? Wearable technology that extend the reach of brand marke2ng and interac2ons to your body
Flexible Displays
Wearable Technology
PERSONALIZED, HELPFUL
PERSONALIZED, HELPFUL
Final Thoughts
CONFIDENTIAL
© 2007 Rosetta 42
DILBERT BY SCOTT ADAMS
Final Thoughts?
Technology will con2nue to change our lives
The Future will be very cool!