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MARKETING	
  3.0	
  




                       Marketing 3.0	

                          Out with the old	

                          In with the new
Early marketing was easy	

MARKETING	
  3.0	
  
But consumers became smarter 
                        and distrustful of marketing	

MARKETING	
  3.0	
  
As a result marketing
                        has had to evolve	

MARKETING	
  3.0	
  
But some marketers are 
                          stuck in the past	

MARKETING	
  3.0	
  
They’re still using old metrics
                                       with new media	


                       •    Impressions	

                       •    Reach	

MARKETING	
  3.0	
  




                       •    Frequency	

                       •    Ad recall	

                       •    CPM	

                       •    Mass market segmentation
Hint: Impressions are meaningless	


                       •  It’s engagement you should be measuring
                          because engagement is not given, it’s earned by
                          what you do and how you respond to your
MARKETING	
  3.0	
  




                          customers needs and feedback.	


                       •  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 ?
And consumers are
                        laughing at them	

MARKETING	
  3.0	
  
But in order to stay relevant
                                     marketing is changing again

                                                      Marketing 1.0	

           Marketing 2.0	

             Marketing 3.0	

                                                     Product-centric	

         Consumer-centric	

           Value-centric	

MARKETING	
  3.0	
  




                                    Objective	

    Sell products to the       Satisfy customers           Meet emotional and
                                                          masses	

               brand loyalty	

           rational needs of
                                                                                                                 consumers	

                             Enabling Forces	

    Industrial Revolution	

   Information technology	

      Connectedness of
                                                                                                               consumers	

                       How marketers see the           Mass market	

          Smarter consumers            People instead of
                                    market	

                                     mass market	

                segments	

                              Key Marketing        Product driven market	

       Differentiation 	

       Value of product to
                                   Concept	

                                                              consumers emotions	

                          Value Propositions	

          Functional	

        Functional  emotional	

   Functional, emotional 
                                                                                                                  rational	

                             Interaction with      Mass communication	

       Micro segmentation	

      Consumers collaborate
                                  consumers	

                                                               with each other	

                          Power of branding	

     Marketers/companies	

      Marketers/consumers	

           Consumers
Marketing 3.0
                                                                           In a nutshell	

                                                                Mind	
            Heart	
          Spirit	
  

                                     INDIVIDUAL	
  
                       COMPANY	
  
MARKETING	
  3.0	
  




                                               Mission	
  
                                               (Why)	
          Deliver	

       Realize	

     Compassion	

                                                              Satisfaction	

   Aspiration	



                                                 Vision	
  
                                                (What)	
        Profit	

          Return	

       Sustain	

                                                                Ability	

        Ability	

      Ability	



                                                Values	
  
                                                (How)	
           Be	

         Difference	

    Make a	

                                                                 Better	

                      Difference
What led to marketing 3.0 ?	



                       •  The age of participation and
                          collaborative marketing via the
MARKETING	
  3.0	
  




                          Internet.	

                          –  People create new ideas and talk to
                             each other via social media.	

                          –  People trust each more than
                             marketers.	

                          –  Recession has shaken the core values
                             of most consumers (shift from
                             wantsneeds).
More collaboration tools means
                       more trust between consumers	

MARKETING	
  3.0	
  
At a time when customers are 
                              demanding more 
MARKETING	
  3.0	
  
Therefore organizations need
                           more brand credibility	


                             Trust	

                Authenticity	

              Transparency	


                         Confidence	

                As promised	

               No Secrets	

MARKETING	
  3.0	
  




                         Consistency	

             Real  Sincere	

             Easy to find	

                          Integrity	

               Real People	

            Easy to understand	

                          Authority	

                Informal	

                 No Hiding	

                         Affirmation	

                 Listening	

              Responsiveness	


                           Playback	

                 Empathy	

                 Follow-up	

                        Reinforcement	

              “Welcome”	

              Making changes	

                       Search Placement	

             Humility	

             Acknowledgement	

                         Community	

                  Feedback	

                Thank you	



                                    Six	
  drivers	
  of	
  brand	
  credibility	
  	
  
Because company outputs don’t 
                       always match customer expectations	

MARKETING	
  3.0	
  
Marketers need to understand that 
                        social communities have cycles	

MARKETING	
  3.0	
  
Everyone can be
                        an influencer 	

MARKETING	
  3.0	
  
Mass Connectors  Mavens rule
                                  Can you really ignore them ?	

MARKETING	
  3.0	
  




                            But	
  don’t	
  ignore	
  the	
  power	
  of	
  one	
  to	
  influence	
  others	
  
Demographics of mass influencers	

MARKETING	
  3.0	
  
You only have one chance to make a
                          first impression, make it count	

MARKETING	
  3.0	
  
And with all this going on 
                          collaborative media is evolving	


                       The web is at a really important turning point right now” 	

MARKETING	
  3.0	
  




                        We're building toward a web where the default is social.	





                                               Mark Zuckerberg	

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

MARKETING	
  3.0	
  




                       Adapt	
  to	
  MarkeMng	
  3.0	
  or	
  perish	
  	
  	
  
Kotler’s Ten Credo’s
                        of Marketing 3.0	

MARKETING	
  3.0	
  
1: Love your customers, respect 
                                    your competitors	

                       •  Win their loyalty by giving them great value
                          and connecting with them emotionally.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Cambell’s Soup changed the color of its
                          packaging during Breast Cancer Awareness
                          Month and improved demand significantly
2: Be sensitive to change and be
                                   ready to transform	

                       •  Business landscape is changing and
                          competitors are getting smarter along
                          with your customers.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Wal-Mart’s transformation from low-
                          low prices to green giant.
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	
  3.0	
  




                       Example	

                       •  Body Shop practice of community trade and purchasing natural
                          ingredients from local and poor communities around the world.
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.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Apple iPad is not a mass market product
                          and Apple has never strived to be a mass
                          market product. They focus on a unique
                          segment of early adapters and
                          technology lovers which leads to higher
                          margins per unit sale.
5: Always offer a good package
                                      at a fair price	

                       •  Price and product must match customers
                          expectations not yours.	

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.
6: Always make yourself available
                                Spread the good news	

                       •  Don’t make it hard for customers to find you.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Amazon.com uses search to direct consumer directly to
                          product pages when they search for specific products. 	

                       •  Whole foods has a store locator on their home page.
7: Get customers, keep them
                                            grow them	

                       •  Get to know your customers one on one so you have a
                          complete picture of their needs, preferences and behavior.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Amazon.com builds recommendations based on past customer
                          purchases and delivers personal recommendations via
                          customized home page and email.
8: Whatever your business,
                                    It’s a service business now	

                       •  You must have the spirit of wanting to serve your customers.	

MARKETING	
  3.0	
  




                       Example	

                       •  Whole Foods sees its business as a service to customers and
                          society. It tries to transform the lifestyle of customers into
                          healthy ones.
9: Always refine your 
                                        business processes	

                       •  It’s a never ending process, exceed your promises to customers
                           suppliers.	

MARKETING	
  3.0	
  




                       Example	

                       •  S.C. Johnson is well-known for doing business with local
                          suppliers. It works with local farmers to improve productivity
                          and delivery.
10: Gather relevant information,
                        but use wisdom in making decisions	

                       •  Keep learning and use your accumulated knowledge 
                          experience to make decisions.	

                       •  Consider more than the financial impact of a decision.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Eli Lilly, a pharma company is allocating more money to RD
                          to develop new drugs even though it has resulted in a lower
                          ROI for Wall Street and investors.
Also don’t forget Rich’s 
                       additions to these Credos	

MARKETING	
  3.0	
  
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.	

MARKETING	
  3.0	
  




                       Example:	

                       •  Zappos goes out of their way to train and retain talented
                          people. They will even pay people $2000 to quit because
                          people that are more interested in money that job satisfaction
                          are not employees they value.
12: You can’t rely on outdate 
                           marketing in an era of new media	

                       •  Impressions, reach, frequency, ad recall mean little today.	

                       •  Stop trying to quantify everything with a spreadsheet analysis
                          because your competitors are doing the same thing.	

MARKETING	
  3.0	
  




                       •  Stop thinking CPM, ARP, and mass marketing. Start thinking
                          like a consumer.
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”.	

MARKETING	
  3.0	
  
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	
  
In summary…	


                       •  The recession has changed consumer behavior forever.	

                       •  Consumers have more power than via the evolution of
                          collaborative tools on the Internet.	

MARKETING	
  3.0	
  




                       •  Stop using outdated marketing and realign processes around
                          your customers not your company.	

                       •  Reward employees who deliver a great customer experience.	

                       •  Think as a consumer..not as a marketer.
About me	

                       Richard Meyer	

                       •  My resume http://www.richardameyer.com	

                       •  My marketing BLOG http://www.richsblog.com	

MARKETING	
  3.0	
  




                       •  MY DTC BLOG http://www.worldofdtcmarketing.com	



                                    h/p://www.twi/er.com/richmeyer	
  



                                    h/p://www.facebook.com/richardameyer	
  




                                    h/p://www.linkedin.com/in/richardameyer	
  

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Marketing 3.0

  • 1. MARKETING  3.0   Marketing 3.0 Out with the old In with the new
  • 2. Early marketing was easy MARKETING  3.0  
  • 3. But consumers became smarter and distrustful of marketing MARKETING  3.0  
  • 4. As a result marketing has had to evolve MARKETING  3.0  
  • 5. But some marketers are stuck in the past MARKETING  3.0  
  • 6. They’re still using old metrics with new media •  Impressions •  Reach MARKETING  3.0   •  Frequency •  Ad recall •  CPM •  Mass market segmentation
  • 7. Hint: Impressions are meaningless •  It’s engagement you should be measuring because engagement is not given, it’s earned by what you do and how you respond to your MARKETING  3.0   customers needs and feedback. •  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 ?
  • 8. And consumers are laughing at them MARKETING  3.0  
  • 9. But in order to stay relevant marketing is changing again Marketing 1.0 Marketing 2.0 Marketing 3.0 Product-centric Consumer-centric Value-centric MARKETING  3.0   Objective Sell products to the Satisfy customers Meet emotional and masses brand loyalty rational needs of consumers Enabling Forces Industrial Revolution Information technology Connectedness of consumers How marketers see the Mass market Smarter consumers People instead of market mass market segments Key Marketing Product driven market Differentiation Value of product to Concept consumers emotions Value Propositions Functional Functional emotional Functional, emotional rational Interaction with Mass communication Micro segmentation Consumers collaborate consumers with each other Power of branding Marketers/companies Marketers/consumers Consumers
  • 10. Marketing 3.0 In a nutshell Mind   Heart   Spirit   INDIVIDUAL   COMPANY   MARKETING  3.0   Mission   (Why)   Deliver Realize Compassion Satisfaction Aspiration Vision   (What)   Profit Return Sustain Ability Ability Ability Values   (How)   Be Difference Make a Better Difference
  • 11. What led to marketing 3.0 ? •  The age of participation and collaborative marketing via the MARKETING  3.0   Internet. –  People create new ideas and talk to each other via social media. –  People trust each more than marketers. –  Recession has shaken the core values of most consumers (shift from wantsneeds).
  • 12. More collaboration tools means more trust between consumers MARKETING  3.0  
  • 13. At a time when customers are demanding more MARKETING  3.0  
  • 14. Therefore organizations need more brand credibility Trust Authenticity Transparency Confidence As promised No Secrets MARKETING  3.0   Consistency Real Sincere Easy to find Integrity Real People Easy to understand Authority Informal No Hiding Affirmation Listening Responsiveness Playback Empathy Follow-up Reinforcement “Welcome” Making changes Search Placement Humility Acknowledgement Community Feedback Thank you Six  drivers  of  brand  credibility    
  • 15. Because company outputs don’t always match customer expectations MARKETING  3.0  
  • 16. Marketers need to understand that social communities have cycles MARKETING  3.0  
  • 17. Everyone can be an influencer MARKETING  3.0  
  • 18. Mass Connectors Mavens rule Can you really ignore them ? MARKETING  3.0   But  don’t  ignore  the  power  of  one  to  influence  others  
  • 19. Demographics of mass influencers MARKETING  3.0  
  • 20. You only have one chance to make a first impression, make it count MARKETING  3.0  
  • 21. And with all this going on collaborative media is evolving The web is at a really important turning point right now” MARKETING  3.0   We're building toward a web where the default is social. Mark Zuckerberg CEO Facebook
  • 22. The percentage of weekly social media users is at 73% of the online population. MARKETING  3.0  
  • 23. So…. MARKETING  3.0   Adapt  to  MarkeMng  3.0  or  perish      
  • 24. Kotler’s Ten Credo’s of Marketing 3.0 MARKETING  3.0  
  • 25. 1: Love your customers, respect your competitors •  Win their loyalty by giving them great value and connecting with them emotionally. MARKETING  3.0   Example: •  Cambell’s Soup changed the color of its packaging during Breast Cancer Awareness Month and improved demand significantly
  • 26. 2: Be sensitive to change and be ready to transform •  Business landscape is changing and competitors are getting smarter along with your customers. MARKETING  3.0   Example: •  Wal-Mart’s transformation from low- low prices to green giant.
  • 27. 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  3.0   Example •  Body Shop practice of community trade and purchasing natural ingredients from local and poor communities around the world.
  • 28. 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. MARKETING  3.0   Example: •  Apple iPad is not a mass market product and Apple has never strived to be a mass market product. They focus on a unique segment of early adapters and technology lovers which leads to higher margins per unit sale.
  • 29. 5: Always offer a good package at a fair price •  Price and product must match customers expectations not yours. 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.
  • 30. 6: Always make yourself available Spread the good news •  Don’t make it hard for customers to find you. MARKETING  3.0   Example: •  Amazon.com uses search to direct consumer directly to product pages when they search for specific products. •  Whole foods has a store locator on their home page.
  • 31. 7: Get customers, keep them grow them •  Get to know your customers one on one so you have a complete picture of their needs, preferences and behavior. MARKETING  3.0   Example: •  Amazon.com builds recommendations based on past customer purchases and delivers personal recommendations via customized home page and email.
  • 32. 8: Whatever your business, It’s a service business now •  You must have the spirit of wanting to serve your customers. MARKETING  3.0   Example •  Whole Foods sees its business as a service to customers and society. It tries to transform the lifestyle of customers into healthy ones.
  • 33. 9: Always refine your business processes •  It’s a never ending process, exceed your promises to customers suppliers. MARKETING  3.0   Example •  S.C. Johnson is well-known for doing business with local suppliers. It works with local farmers to improve productivity and delivery.
  • 34. 10: Gather relevant information, but use wisdom in making decisions •  Keep learning and use your accumulated knowledge experience to make decisions. •  Consider more than the financial impact of a decision. MARKETING  3.0   Example: •  Eli Lilly, a pharma company is allocating more money to RD to develop new drugs even though it has resulted in a lower ROI for Wall Street and investors.
  • 35. Also don’t forget Rich’s additions to these Credos MARKETING  3.0  
  • 36. 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. MARKETING  3.0   Example: •  Zappos goes out of their way to train and retain talented people. They will even pay people $2000 to quit because people that are more interested in money that job satisfaction are not employees they value.
  • 37. 12: You can’t rely on outdate marketing in an era of new media •  Impressions, reach, frequency, ad recall mean little today. •  Stop trying to quantify everything with a spreadsheet analysis because your competitors are doing the same thing. MARKETING  3.0   •  Stop thinking CPM, ARP, and mass marketing. Start thinking like a consumer.
  • 38. 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”. MARKETING  3.0  
  • 39. 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  
  • 40. In summary… •  The recession has changed consumer behavior forever. •  Consumers have more power than via the evolution of collaborative tools on the Internet. MARKETING  3.0   •  Stop using outdated marketing and realign processes around your customers not your company. •  Reward employees who deliver a great customer experience. •  Think as a consumer..not as a marketer.
  • 41. About me Richard Meyer •  My resume http://www.richardameyer.com •  My marketing BLOG http://www.richsblog.com MARKETING  3.0   •  MY DTC BLOG http://www.worldofdtcmarketing.com h/p://www.twi/er.com/richmeyer   h/p://www.facebook.com/richardameyer   h/p://www.linkedin.com/in/richardameyer