Marketing in the Engagement Economy
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Transcript of Marketing in the Engagement Economy
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Marketing in the Engagement Economy
Shar VanBoskirkVP and Principal AnalystForrester Research, Inc.
Matt ZilliVP, Product & Segment MarketingMarketo
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BuildBrand
GrowRevenue
ProveImpact
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Growing Customer Expectations
only consider brands that show they understand and
care about ‘me.’
(Wunderman)
79%
say the best brands exceed expectations across the
entire customer journey.
(Wunderman)
64% 70%
of buying experiences are based on how customers feel they're
being understood.
(McKinsey)
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Email Web Mobile Social Ads
Expanding Customer Touch Points
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More Informed Buyers
of buyers conduct research online during
the buying process. (Accenture)
94%
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7© 2016 Forrester Research, Inc. Reproduction Prohibited
How has technology changed you?
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8© 2016 Forrester Research, Inc. Reproduction Prohibited
Technology has: Created entitlement. Added stress. Adjusted our values.
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9© 2016 Forrester Research, Inc. Reproduction Prohibited
Source: Forrester’s North American Technographics® Online Benchmark Survey, Q3 2011, Base: 57,751 US online adults 18+Source: Forrester’s North American Consumer Technographics® Online Benchmark Survey (Part 1), 2015; Base: 61,222 US online adults 18+
We are always addressable
51%2011
62%2015
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The expectation that I can get what I want
in my immediate context and moments of need.
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Decisions create stress
“I was slightly stressed out about what to make for
dinner this week.”
“I feel very stressed, rushed and under
pressure at all times to make the best decisions.”
“If there had been a resource that could have helped us, it would have relieved some worry.”
“I wish I didn't feel so bad about my
decision.”
“In the past I have rushed choices and then regretted them afterwards, usually
after doubting myself at the time.”
“I felt tired, dizzy and fed
up about having to decide.”
“I felt hurried and I wasn't happy that I had
quite a few choices.”
“I was slightly stressed out about what to make for
dinner this week.”
“I feel very stressed, rushed and under
pressure at all times to make the best decisions.”
“If there had been a resource that could have helped us, it would have relieved some worry.”
“I wish I didn't feel so bad about my
decision.”
“In the past I have rushed choices and then regretted them afterwards, usually
after doubting myself at the time.”
“I felt tired, dizzy and fed
up about having to decide.”
“I felt hurried and I wasn't happy that I had
quite a few choices.”
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“When trying to concentrate on a task, an unread email in your inbox can reduce your effective IQ by 10 points.”
-Dr. Daniel Levitin
Digital makes it worse
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23%
15%
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For businesses this means:
A need for immediacy. Brand democratization. Data proliferation.
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Technology is smart and cheap
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We have entered a different era for business
InstitutionsCustomers
Information
Price LocationTechnology
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Most businesses aren’t ready
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ENGAGEMENT ECONOMY
This new world is the
And it’s here today
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ENGAGEeach personintelligently
LEARNfrom behaviors
+ adapt
LISTENacross channels+ touchpoints
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Digital Transformation
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Make your customer the center of your total operating model.
Forrester calls this:Customer Obsession.
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Customer obsessed businesses shift:
Customer led
Insights driven
Fast
Connected
FROM
Customer aware
Data rich
Perfect
Siloed
TO
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Customer led
Insights driven
Fast
Connected
Structure
Culture
Talent
MetricsProcesses
Technology
Apply these four operating principles across six levers
Structure
Culture
Talent
MetricsProcesses
Technology
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31 mentions of the “customer” in letter to shareholders
2 of 5 strategic priorities are customer-focused
Training makes customers the center of every role
Bank of Montreal puts the customer at the center of its business
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Image
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Marketers: catalyze a post-digital mindset.
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∞ 1 :
Pre-digital
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1 : 1
Digital
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1 : Moment
Post-digitalCompare
car models
Find dealersnear me
Take atest drive
Sign the contract
Plan my first road trip
Order parts
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Human Helpful Handy
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Employees become brand ambassadors
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To summarize:
Technology has changed customer behaviors and values.
This redefines business requirements and competitive strategy.
Work to become customer obsessed
Marketing can help with new rules for your brand: Be human, helpful, handy.
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4. Lead the change.
2. Manufacture customer moments.
1. Adopt a post-digital mindset.
3. Engage with context.
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What will you start, stop, and continue doing now?
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MARKETO ENGAGEMENT PLATFORM
MARKETO APPS PARTNER APPS
AUTOMATION ANALYTICS ADAPTIVE
CUSTOMER DATA & IDENTITIES
ENGAGEMENT APPS
ENGAGEMENT HUB
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Thank you!
Shar VanBoskirkVP and Principal AnalystForrester Research, Inc.
Matt ZilliVP, Product & Segment MarketingMarketo