Video killed the radio star, marketing in the infinite environment
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Transcript of Video killed the radio star, marketing in the infinite environment
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Video killed the radio star
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1. Historical foundations fail in the in!nite environment 2. New tenets arise in the world of in!nite 3. Case Studies to learn from
CONTENTS
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Raphus cucullatus
Extinction: More than 99 percent of all species, amounting to over !ve billion species, that ever lived on Earth are estimated to be extinct due to environmental factors.
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Environmental change
Status quo no longer exists. We must look at how things have
changed to move forward.
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The Environment
Business: Use media to consume information and to publish information. ey are reactionary to the consumer.
Media: Is the medium for communication between all parties in the environment.
Consumers: Are the ones who obtain information from media to ful!ll their needs.
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Media has changed infinitely
Media has changed the environment we live in causing
major changes to our species
@msweezey!1960 2014
5
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DIGITAL DISCOVERY A person uses more computing power to do a search on Google, than all of NASA had in 1969, when they landed a man on the moon.
@msweezey!1960 2014
200 5
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“ Media UBIQUITY
Anyone in the world can create, distribute, and consume content. ere are more people in the
world with a cell phone, than there are those with clean drinking water, or electricity.
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Estimated Ad impression Per day
5000
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12 hours per day e time a person spends in front
of a screen.
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“ “ “ CMO will have the largest IT budget by
2017 -Gartner
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1k+ 200
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New Media affects actions
Media has changed the way people relate to each other, act,
and obtain information.
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“ Media Changes
cultures e written word destroyed the oral society, and brought with language, math, and documented
history. Gutenberg democratized writing, and the internet combined with mobility has changed us
once again.
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Oral Society Transformed By Gutenberg Press. Creates a world of literacy.
Radio brings news to the world. Allows for news to spread faster, and changes the face of warfare.
Television creates a visual society. Changes politics, culture, and the basis of how we perceive each other.
Internet connects the world in real time. Creates a global society which breaks down the visual barriers and creates a new economy.
Social media and increased connectivity creates an instant always on society which changes our communication once again.
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Socially Literate: Understanding modern media changes how we want to engage with media, and what we want out of our relationships with mobile media.
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“A” or “b” How do you download data?
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“We batch research”
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Daily content consumption. Usually is Learn, and Escape. Happens across all media channels. How we engage with Research content.
Batch Research Defined
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We bypass bullshit Nobody wants to talk to sales.
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Of the buying cycle by 2020 will happen before we talk
to sales.
80%
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Always on creates Multitasking which has eroded
our memory, and the way we process things mentally.
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e average person used to have seven queues they stored memory
too.
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Now they have three. ey are relying on their mobile phone to
do the rest.
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8 Seconds e average adult attention span
in 2013
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9 Seconds
Gold!sh have an attention span of
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66% Of all emails are opened on a smart phone.
-Moveabletype
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“A” or “b” How do you manage your email
in box?
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“We now disqualify before we qualify”
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Buying behaviors change
Instant access, and always on have change our decision
making process.
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of B2B buyers said they waited longer to initiate contact with B2B vendors –
DemandGen Report 2014
40%
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of B2B buying decisions Involve mobile media
91%
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of B2B buying decisions Involve watching videos.
48% involve 30+ minutes of video.
60%
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Business goals change
Media has changed the environment we live in causing major changes to our business
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Build > Market > Sell
Industrial Revolution taught us….
90% of efforts 10% of efforts
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Production
3-D printing has democratized production. Now anyone, anywhere, at anytime can print them selves products.
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Technology
SaaS technology democratized business operations. Now any business can have the best tool set to run their business, and build their product, with almost zero overhead.
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Distribution
Distribution and selling of goods has been democratized by online marketplaces. It is easier than ever to sell something at scale.
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Content Seth Godin writes “Permission Based Marketing” in 1999. Becomes a National Best Seller, creating the idea of content marketing.
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But do you really?
“I get all that”
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of Fortune 500 companies are removed from the list in Last
decade (2004-2015)
1/3
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“media Companies”
Should we all be?
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Influence Amount of consumption does not equal in#uence from content marketing.
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71% of B2B buyers have been disappointed by content
-Pardot research 2013
71% Of B2B Buyers Have been disappointed with
content -Pardot Research Report 2013
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71% of B2B buyers have been disappointed by content
-Pardot research 2013
25% Of them will never engage with your
content again -Pardot Research Report 2013
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Media Made money Because they owned the relationship. Not because they mass published media.
We should learn…..
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Relationship > CONTENT
We should learn…..
Campaign CONVERSIONS
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Relationships:
Are built over a long time. ey require a net positive interaction to sustain and grow. ey require relevant communication at all times. If not the relationship is damaged.
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Marketing ≥ Build > Sell
In"nite environment demands…
20% of efforts 80% of efforts are now Relationship building.
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Tenants of the 80/20 business
Most of the mobile media about our business isn’t
created by us.
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In!nite mobile media means a strategy must begin with a
holistic mindset
Relationships are more than Just what you say
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Mindset Everyone in the organization understands everything they do will end up online. Services will receive tweets, product will receive reviews, and sales will be talked
about. Everyone must understand the net positive effects of their actions.
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Mindset is an organizational discipline, branding is a departmental execution.
Mindset > Branding
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“SHIP MY PANTS”
@msweezey!“SHIP MY PANTS” �
@msweezey!“SHIP MY PANTS” �
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Volatility is the result of both negative and positive experiences. After a negative experience the only way to drive positive experience is to spend more money because the trust
has eroded.
Volatility
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1000’s of marketing channels, 24/7 with
out you being involved e question is how do you make sure content related to your brand is maintaining the best
possible experience?
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Traditional branding is ineffective because it is unsustainable to think a single department can manage your
brand in the in!nite media environment.
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Creating Mindset
- What do we value in an employee - What do we value in a customer - What do we call success
Everyone in the company should be able to answer these three questions
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An Infinite type of content
Content is engrained much deeper in our beings than we
may imagine.
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Nobody says “I want content”
ey decide engage with content to solve goals, they engage with it because it aligns
with their purpose
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-Jay Baer, Author of Youtility, “ “ Historically, we created
relationships and loyalty with people, but now we're creating relationships and loyalty with information.
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“Consumers want honest and authentic
experiences”
-Joseph Pine II Author of the Experience Economy, Authenticity, & In"nite Possibilities
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Think Small
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More content is produced in 2 years than existed
before in history IBM research study 2013
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Purpose #likeagirl campaign is watched by over 57 million fans
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more often than they do those that simply urge them
to buy the product being advertised. As a result, their path to purchase is actually
their path to purpose.
Consumers choose the brands that engage them
on their passions and interests
42% Pa
th to
Pur
pose
-Google THINK
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Escape People wanting to escape will lean on self
discover and social channels. ey are looking to escape their work, life, job, and
take a short break. No barring on sales readiness.
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Learn People wanting to learn are
looking on ways to be better at what they care about. is can also take place during an escape. May
be an early sign of sales readiness if they move to research.
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WARNING: You engaging with this presentation is you “Learning”.
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Seek People wanting to seek will
dedicate time to search, learn, and solve. ey are looking for content
to help them ful!ll purpose, or solve a problem.
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1.4 Trillion hours/day are spent online every day in the United States
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Presence People want to be present in all scenarios possible. is means being active, as
well as passive in the situations they choose.
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28% of all online usage Social networks account for
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AGE: 24-54 check Facebook 17 times per day
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Relevance at scale
Mobile marketing is about thinking differently, and marketing in a new way.
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“Our end goal is to present the customer with content that is relevant, not invasive”
-Kimberly Ruthenbeck, Director of Web Customer Experience for Room & Board
“ “
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Marketing now knows every interaction they company has had with the person
across external sources. Other data sources can be added into know what
is relevant to a person based on their digital fingerprints.
Every channel has the ability to read and write to this record so in the future every conversation in enabled to be relevance. These conversations are also used to trigger automated content based on rule sets set up by the business.
External View Internal View
Must have this first!
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Marketing Sales
Service
Single Customer View
Automation Platform (s) CRM
System of relevance
Allows for plug and play integrations with other apps who use data, and add to data.
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Automations Scale relevance
Automations allow for owned media properties to be “Zero Click”. Making them
in!nitely relevant.
Automations allow for distributed
media to be dynamically shown
to the correct people, at the correct time.
Automations allow for hot leads to be
identi!ed and passed to sales
instantly.
Automations allow for leads to be
nurtured over full lifecycle.
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Achieved a 30% reduction in sales cycle length in their industrial storage business within one year, and another 25% reduction in two years with
the use lifecycle marketing and relevant automations.
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The power of Infinite Creativity
Creativity moves past colors, into the sub conscious, and
data science.
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Creativity Left Brain
Bernay’s created the idea of Public Relations after learning from his uncle Sigmon Freud the power of the unconscious mind. He create a new form of strategic marketing which still exists to this day. is is our guide.
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Shared Value + Shared Action = Shared Pro!t
Action Branding Formula
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Shared Value + Shared Action = Shared Profit
People want to rebuild Braddock PA. Levi wants to
have people associate their clothes with
work again.
Levi puts money, and hires a company to
coordinate community events to
rebuild Braddock. People pitch in, and suggest projects, and
execute them.
ey both pro!t from a better
community, which got back to working
again.
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Right Brain Creativity
e traditional creative brain thinks in colors, shapes, and visual appeal. We must remove our selves from thinking this is the only thing which matters.
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Micro Actions ink of them as digital hugs from your peers
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“When you se people voting up your answer or adding their own replies in real time it makes you realize there’s a good group of people reading your stuff. I don’t get that immediate rush on my blog”
-Robert Scoble, Futurist and Social Media icon
“ “
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Retweeting, Favoriting, At Mentioning….
Commenting on a blog posts. Sharing a blog post….
Commenting on a group, Inmail, creating new content….
Liking a post, commenting on a post, commenting in a group….
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Notifications e !nal frontier for marketers on mobile.
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A new breed of sales
Marketing are not the only people who have to
change
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We will lose 1 million b2b sales jobs by 2020
is is predicted by Forrest in 2015.
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1 million people get new roles. They don’t get unemployed.
Let’s clarify:
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e new sales model:
Marketing Functions
Digital Rapport building, lead generation Customer acquisition
80% 20%
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the new middle e majority of the modern revenue engine is
effectively !nding, and building relationships. People can use new tools to do this in a hyper targeted 1-1
way, which can be aided by and accelerate by marketing efforts.
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Marin Software has seen a 646% increase in the number of quali!ed contacts, by focusing on digital rapport building, and by effectively using the “System of Relevance” model.
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Supporting roles It will depend on the company as to is the middle
supporting marketing, or is marketing supporting the middle. Either way a new compensation has to happen. Sales can no longer receive 100% of the commissions
for only doing 20% of the work.
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Provides bonuses to the middle team on hitting pipeline contribution goals (about 80% of bonus) and MRR (about 20%)
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Bill (CMO) said their goals is, will someone recommend Slack? “And that’s a much higher bar.” is is why they use Net Promoter Score in their sales compensation metrics, not just closed/won.
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Raphus cucullatus
Don’t be a Dodo….. Realize the environment we operate in requires large shifts in our business strategy. We have not seen a change like this in over 100 years in our departments so this won’t be easy, but there is only one alternative.
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