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Changing Role Of Marketing: New Challenges & Opportunities
1. Sanjay Mehta
Digital Marketing Webinar
Changing Role Of Marketing: New
Challenges & Opportunities
Aug 8, 2014 | Sanjay Mehta (Jt. CEO, Social Wavelength)
www.digitalvidya.com
2. Sanjay Mehta
Three key thoughts for Marketing
1. CHALLENGES OF TRADITIONAL MARKETING
2. NEW WAY: MARKETERS NEED TO LISTEN UP
3. THE NEW MARKETING MODEL, AND THE
CHANGING ROLE OF THE MARKETER
3. Sanjay Mehta
• You have a product or service to sell – you need to market – you
need to reach your prospect with your communication
• Traditional ways have been advertising, direct marketing, PR, etc.
• More specifically, print advertising, TV ads ($$), hoardings
• PR largely meant, building relationships with journalists
• Direct Marketing: Emails (spams?!), telemarketing (how we hate
those?!) and mailers (junk?)
• Would need budgets and yet, not very effective in changing times
• Even so, many companies use these and are dependent on these
4. Sanjay Mehta
First the e s usi ess, the the usi
business, then advertising. Is there any
i dustry that I get i ol ed i that does ’t
get destroyed y digital te h ology?
- Andy Nibley, who has led Reuters,
Universal Music and ad agency, Marsteller
5. Sanjay Mehta
• Digital Te h allo s lie t s ulti ate fa tasy, usto ize spe ifi
essage to the spe ifi o su er, at the spe ifi o e t
• It s also a arketer s ight are
• The iro y is that hile there e er ha e ee ore ays to rea h
o su ers, it s e er ee harder to o e t ith o su ers!
• Death of mass marketing is death of lazy marketing
• 200 Old Spice videos made in 48 hours; more work for less money
• Controlled, one-way message is now a dialogue with millions
• The power of the advertiser is rivaled now, by user influence
6. Sanjay Mehta
• Brands choosing to work with specialist digital, PR, social media
age ies, rather tha ge eralists: looki g for the right skills
• Tech challenges to what was once considered an expensive art
form, e.g. creating a video (< $2K) or media planning (web ads?!)
• Creativity is not that exclusive – how about crowdsourcing ideas?!
• Kraft orked ith Ge ius‘o ket for o e of it s ra ds:
– Against millions to agencies for one spot, got 7 spots for $40,000
– Also syndicated to web platforms for tracking, testing, sentiment analysis
– For agency to be cutting edge, high overheads; GeniusRocket is a lean team
7. Sanjay Mehta
Why are so a y arketi g a paig s ra d-destroyers and
money-losers? Why is ra di g e o i g a de alued asset, hose
retur s are d i dli g it ess Google uildi g the orld s ightiest
brand with barely a penny of orthodox marketing expenditure)? Why
do people and communities exact steeper and steeper discounts,
price-cuts, and margin-crushing concessions from the beleaguered,
besieged companies once known as the masters of the universe?
The half-life of companies is shrinking and the weary practice known
as arketi g, addi g little to o real alue, see s po erless to
help.
A strong condemnation of marketing as it stands today, by UmairHaque (HBR)
8. Sanjay Mehta
• A out pushi g produ ts do
• Already o erstuffed gullets of o su ers
• By targeti g essages pa ked ith i agi ary e efits
• I gra d a paig s that ake o er lo pro ises
• “ee this eer? It s goi g to la d you a girl of your drea s!
• Curre t arketi g is a out talki g dow to your usto er
9. Sanjay Mehta
What Listening Up is NOT:
• Stalking your customers to find their moments of weakness
• Focus groups and differentiation
• Data mining and then some more!
• The UP is important: having dialogues about what really betters
lives of people, their standards of living, and then finding real
ways to make it happen for them
10. Sanjay Mehta
• Genuine talk with customers – not just about their wants and
needs, but also about their hopes, fears, opportunities, threats,
achievements, regrets; find ways to give long term fulfillment
• Empowering more people in organization to talk to customers, not
just the powerless cashier or customer service rep; org change!
• Letting your critics rip at you – and listening to them; empowering
people to be heard, instead of shouting them out
• Investing not just in market research, but in people
• Asking questions that matter – and being tough to face the music
15. Sanjay Mehta
Marketer as the Orchestrator: in charge of all Owned Media – in addition to
traditional and digital marketing, also manage customer service, product
literature design, product registration, warranty programs, etc.
Marketer as publisher, content supply chain manager: Tons of content being
produced by brands and for brands – owned and earned media; marketing to
take charge
Marketplace Intelligence Leader: From Google Analytics to Social Media
Mo itori g data, the i sights ust reside ith arketi g hat the
usto er says / does, et .
16. Sanjay Mehta
THANK YOU
Sanjay Mehta
Joint CEO, Social Wavelength
smehta@socialwavelength.com +91-98200-40918 @sm63
Acknowledgements:
The Future of Advertising – Danielle Sachs
Marketing Can Do Better – Umair Haque
Branding in the Digital Age – David Edelman (HBR)