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Product Development and Marketing Association Ptesentation Research as Marketing: How to Engage Prospects, Launch Products and Fuel Sales
- 1. Research as Marketing: How to Engage Customers, Launch Products and Fuel Sales Presented by Doug Tangwall Product Development and Management Association Research Innovations and Strategy Session Madison, Wisconsin July 22, 2010
- 2. Why do we conduct research? #1: To gain insight Research enables us to understand
- 3. Why do we conduct research? #2: To measure and improve Research keeps on course Photo credit: ©2009 Dave Edwards, used with permission
- 4. Why do we conduct research? #3: To develop new products Research allows us to innovate Photo credit: ©2009 James Marvin Phelps, used with permission
- 7. Is what’s taught in marketing school wrong? Maslow’s Hierarchy of Needs Source: ©2009 Wikipedia Commons, used with permission, adapted from Personality and Motivation
- 8. SCARF model of motivation Our brains crave: S tatus…to feel important C ertainty…to forecast what’s coming next A utonomy...to have choices and a say in things R elatedness…to feel part of a group F airness…to be treated with evenhandedness Source: David Rock’s Your Brain at Work
- 9. New perspective: Research as marketing “ Spend quality time with consumers, not just asking how they use your products, but how they live their lives.” - Jim Stengel, global marketing officer, Procter & Gamble
- 10. What is nurture marketing? Nurture marketing : educational promotion designed to improve customer outcomes and cultivate affinity for a business Make marketing meaningful
- 11. The impact of nurture marketing Note: Not controlled experiments. Based on actual customer-initiated contacts. Generate more qualified sales leads 14-17 times more
- 22. New reasons to conduct research #4: To connect with customers Research lets us engage prospects
- 23. New reasons to conduct research #5: To not just develop—but launch — new products Research brings home product benefits
- 24. New reasons to conduct research #6: To fuel sales Research adds value to marketing
- 25. Questions?
- 27. Additional resources 10-Part Blog Series on New Brain Research and the Implications for Marketers , Doug Tangwall, www.endresultmarketing.com The 10 Golden Rules of Marketing White Papers , Doug Tangwall, www.endresultmarketing.com How to Make Interactive Marketing Take Off: a 7-point Checklist , Doug Tangwall, www.endresultmarketing.com The Innovator’s Dilemma and The Innovator’s Solution , Clayton M. Christensen Is Nurture Marketing Right for Your Business?: 11 Questions , Doug Tangwall, www.endresultmarketing.com
- 28. Additional resources The Next Evolution of Marketing: Connect with Your Customers by Marketing with Meaning , Bob Gilbreath Nurture Marketing: a Strategically Superior Approach to Drip Marketing , Doug Tangwall, www.endresultmarketing.com Nurturing Customer Relationships , Jim Cecil Social Media: Pitfalls, Profit and Potential , Wendy Soucie, www.endresultmarketing.com Truth, Lies and Advertising: The Art of Account Planning , Jon Steel Your Brain at Work , David Rock
Hinweis der Redaktion
- A Forrester Research study found consumers spent 32% of their media time on the Internet—at home and at work—up from 28% two years earlier Reuters finds consumers spend anywhere a few hours tens of hours researching major purchases Health issues is another area with substantial self-research Consumers are avoiding mainstream media and interruption marketing. Clearly, a new approach to marketing is critical for business—ones where prospects voluntarily engage with it because it adds value to their lives And I think a new view of research also fits the times. We live in an era where opportunities abound to conduct low-cost research that feeds high-impact marketing
- While Maslow’s theories actually proposed 8 levels, I won’t get into that. I have a 10-part blog series on new brain research for any of you who want to delve deeper into the subject. The point is: it has been 40 years since Maslow’s last writing—and while his model has certainlt stood the test of time and offers a valuable guide to understanding the success of traditional marketing. The idea of levels has not been borne out by more recent studies and recent neuroscience studies have identified some social elements that are extremely important to our brains.
- 5 areas of social domain that our brains treat as primary rewards and threats—similar to physiological needs I want you to think of the SCARF model as I present specific research and marketing approaches for you to consider
- Jim Cecil, the father of nurture marketing coined the term in the early 1990s. You may hear it called content marketing or article marketing. Permission marketing is also closely related tactic to successful nurture marketing. Whatever you want to call it. I have had great success with it works well in the current marketing and research environment. I think of it as “doing a 180” on traditional marketing. Instead of buy my stuff; it’s how can I help you to succeed—and research is a primary driver of good educational content.
- Technology company hosted networking calls between 8 customer execs across country who don’t directly compete Facilitated discussion, gleaned valuable info Perceived as innovative thought leader Stand apart from competition Think of SCARF model throughout these examples: status, relatedness, fairness How many of you have a few customers who account for a large percentage of your business? Do they think you care about their business? How much money do you spend marketing to them vs. new prospects? Are other companies showing them more attention? I think every company should have some form of a customer feedback council.
- Financial services firm/testing new concept Pilot participant’s statistics and quotes became major selling point More often interviews are taking place in the home or where the product is used Became evangelist who spoke to peers on behalf of company
- Matched data sets to identify top customers in terms of competitiveness and profits Featured interactive Web paper 23% of target audience voluntarily signed up to gain access/fueled sales channels Help customers succeed to build loyalty
- Using third-party research to compare performance of state Combining with best-practice legislation from other states, local case studies and recommendations Targeting passage of new state law Research-driven marketing persuades/showcases expertise/analyze regulatory changes: Canon
- Traditional research identified prospects not using service because they did it themselves “IQ” quiz collected and shared scores and customized recommendations Provided material for ongoing PR campaign 48% average annual increase in customers over 5 years Scoring and feedback entice prospects
- Abbott Nutrition’s Glucerna brand Maybe not a fair example for this presentation since a large budget was spent on traditional research But I like the way this program evolved from casual conversation to meaningful marketing to a hosted community The key is a willingness to participate in research to make the marketing more engaging
- Online communities can be closed or open, company- or customer-led Think beyond the product to your higher purpose in order to succeed My business colleague Wendy Soucie can help you with strategy, training and coaching trust agents who can represent and connect with prospects Week before spring break surveyed top DVDs watched by kids when traveling—useful to community With proper execution gets the company a little PR in a nontraditional way
- It’s also OK to have a little fun
- It’s also OK to have a little fun
- Dozens of educational format exist: use your imagination Here are just a few In addition to traditional tactics, think about online and social media applications The venues offer opportunities for prospects to interact and to measure the impact on the bottom line
- It’s also OK to have a little fun