Mindful Marketing: Intentional, Inclusive & Integrated Marketing That Benefits All Stakeholders
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Is mindful marketing an oxymoron? Mindfulness is becoming a buzz word. Many companies are making mindfulness available to their employees. The US army and many sports teams are adopting mindfulness training. Yet, we have not harnessed the power of mindfulness to inform marketing. What does it mean to be mindful in marketing? Recent changes in consumers' marketplace attitudes and values accompanied by environmental, technological, and economic shifts have led to a new stream of research, transformative consumer research, which use rigorous methods to study and develop solutions that benefit all consumers around the world. Similarly, some marketers are starting to respond to the rapid changes in consumers' awareness, technology, and the environment. This new movement is called Marketing3.0. This presentation on Mindful Marketing was given to exchange students , professors and business owners from El Salvador at the Institute. The work in mindful marketing is still emerging. I draw from research and practices in transformative consumer research, Marketing 3.0 and mindfulness to offer a framework that marketers can use in making decisions with more clarity, compassion and insight. Mindful marketing can develop marketers ability to move away from habitual ways of thinking and behaving in the marketplace toward more intentional, inclusive, and holistic marketing that is a win win for all stakeholders. WARNING: Mindful Marketing is not for the lazy. It is going to compel you to question your assumptions, sit with your discomfort and not settle for the first solution you get.
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Mindful Marketing: Intentional, Inclusive & Integrated Marketing That Benefits All Stakeholders
- 1. MINDFUL MARKETING Transformative Consumer Research & Marketing SHALINI BAHL, PH.D., THE REMINDING PROJECT
- 2. INTERNAL DATA POINTS ➤ Your Mind (Thoughts) ➤ Your Heart (Emotions) ➤ Your Body (Sensations)
- 3. MARKETING IN EL SALVADOR What do you love about marketing? What do you dislike about marketing?
- 4. Interconnectedness MINDFUL MARKETING ORIGINS MindfulnessMovement Transformative Consumer Research Marketing 3.0 Mindful Marketing ChangingEnvironment Economic Nature Consumers Social Technology Continuous Change Cause & Effect MARKETPLACE REALITIES
- 5. MINDFUL MARKETING: THE CASE OF PATAGONIA
- 6. ROADMAP 1. Changing Environment 2. Mindfulness 3. Transformative consumer research 4. Marketing 3.0 5. Mindful Marketing 1. What 2. The checklist 3. 3 Levels 4. Mindful Marketing Plan
- 8. ENVIRONMENTAL COSTS “Americans use almost six timesthe resources that would be available in a sustainable ecosystem” ~ Worldwatch Institute 2013
- 9. Health care costs Associated with obesity were estimated at $147 BILLION SOCIAL COSTS Centers for Disease Control and Prevention 2015
- 10. Costs of obesity-related absenteeism in business were up to $6.38 BILLION BUSINESS COSTS Centers for Disease Control and Prevention 2015
- 11. SHIFTING TECHNOLOGY “Around 90 percent of consumers surveyed trust recommendations from people they know. Moreover, 70 percent of consumers believe in customer opinions posted online. The research by Trendstream/ Lightspeed Research interestingly shows that consumers trust strangers in their social network more than they trust experts.” ~ Kotler et al 2011
- 15. TRENDS IN CONSUMER BEHAVIOR INDESTRUCTIBLE Optimistic and resilient people are leveraging hardship into opportunity. SpendShiftbyJohnGerzema&MichaelD’Antonio RETOOLING Fiercely self-reliant, we retain our faith in our core traditions and actively seek to better our communities and ourselves. LIQUID LIFE We are adopting a more nimble, adaptable, and thrifty approach to life. COOPERATIVE CONSUMERISM Crisis has prompted people to collaborate to solve problems and create new options. FROM MATERIALISM TO THE MATERIAL Old status symbols no longer appeal as purpose, character, authenticity, and creativity become pathways to the new good life.
- 17. HOW ARE THE ENVIRONMENTAL CHANGES IMPACTING YOUR BUSINESS? NATURE SOCIAL ECONOMIC TECHNOLOGICAL CONSUMER
- 18. Mindful Check-in Mind Body Heart “Between stimulus and response there is a space. In that space is our power to choose our response. In our response lies our growth and our freedom.”~Viktor E. Frankl
- 19. MINDFULNESS Living with awareness and intentionality
- 20. “The faculty of voluntarily bringing back a wandering attention, over and over again, is the very root of judgment, character, and will. No one is compos sui (master of himself) if he have it not. An education which should improve this faculty would be the education par excellence. — William James, the father of modern psychology
- 21. W H AT I S M I N D F U L N E S S Image: Unknown
- 23. MINDFULNESS “Mindfulness is the awareness that arises from paying attention on purpose, in the present moment, non-judgmentally” ~ Dr. jon Kabat-Zinn
- 24. TRIANGLE OF AWARENESS AWA R E N E S S T H O U G H T S B O D Y S E N S AT I O N S E M O T I O N S G entle Curiosity N on-Judgm ent Intentional Attention
- 25. MINDFULNESS Practicing Mindfulness Changes The Brain Structurally & Functionally
- 26. PRACTICE MINDFULNESS: 3 WAYS Integrate Meditation Way of Being
- 27. DESIGNATED PRACTICE Awareness of Breath
- 29. Mindful Break: Sensory Walking (Optional) See Hear Smell Touch
- 30. TRANSFORMATIVE CONSUMER RESEARCH Research that benefits consumer welfare and quality of life for all being
- 31. WHAT IS TRANSFORMATIVE CONSUMER RESEARCH Transformative Consumer Research is a movement that seeks to encourage, support, and publicize research that benefits consumer welfare and quality of life for all beings affected by consumption across the world
- 32. TCR: ESSENTIAL QUALITIES ➤ Focus on developing solutions to consumer problems rather than just seeking methods to influence behavior (Mick 2006) ➤ Has ‘an immediate practical orientation’ (Baker, 2011) ➤ Adopts a transdisciplinary approach ➤ Involves all stakeholders such as consumers, activists, policy makers and businesses
- 33. “A major determinant of consumption- induced problems is mindlessness. -Bahl et al, 2016
- 34. MINDFUL CONSUMPTION “The ongoing practice of paying attention, with acceptance, to internal stimuli (bodily sensations, emotions, and thoughts) and external stimuli and their effects on the consumption process.” ~ Bahl et al 2016
- 35. MINDFUL CONSUMPTION Mindful consumption does not involve guilt, shame or any dogma but encourages consumers to examine their choices and the consequences of their choices.
- 36. Figure 1: Transformative Potential of Mindful Consumption Attention Body Sensations, Thoughts, Feelings, & External Stimuli Acceptance Non-Judgment Compassion Flexibility of Mind }Awareness Inner & Outer Stimuli }Insight Impermanence + Transient Self + Causes of Suffering Weakening Attachments to Habitual Behaviors Transformative Choices & Experiences Domains of Transformation: Consumer (Health & Addiction, Family Matters, Financial Well-Being, Materialism), Society (Multiculturalism, Education, Political Engagement), Environment (Sustainability, Waste) MINDFUL CONSUMPTION ~ Bahl et al 2016
- 37. MARKETING 3.0 Human & Values Centered Marketing
- 38. Marketing 3.0 HUMAN & VALUES-CENTERED EVOLUTION OF MARKETING 3.0 Marketing 2.0 CONSUMER-CENTERED Marketing 1.0 PRODUCT-CENTERED “Any customer can have a car painted any color that he wants so long as it is black.” Ford “Customer is king” “Provide solutions to address problems in the society.” Marketing3.0:FromProductstoCustomerstotheHumanSpiritbyKotleretal2011
- 39. Marketing 3.0 HUMAN & VALUES-CENTERED DEFINING CHARACTERISTICS OF MARKETING 3.0 Marketing 2.0 CONSUMER-CENTERED Marketing 1.0 PRODUCT-CENTERED Objective: Sell products Enabling Forces: Industrial Revolution Value Proposition: Functional Consumer Interaction: One-to-many transactions Objective: Retain consumers Enabling Forces: Information technology Value Proposition: Functional & emotional Consumer Interaction: One-to-one relationships Objective: Make the world a better place Enabling Forces: New wave technology Value Proposition: Functional, emotional & spiritual Consumer Interaction: Many-to-many collaborations Marketing3.0:FromProductstoCustomerstotheHumanSpiritbyKotleretal2011
- 41. MINDFUL MARKETING “Mindful marketing transforms mindful consumption to a business and societal opportunity by generating win-win solutions that consider the triple bottom lines of planet, people, and profit.” ~Sheth et al. , 2011
- 42. MINDFUL MARKETING The ongoing practice of making marketing decisions with awareness that arises from paying attention to internal and external data points, with acceptance (non- judgment, compassion and flexibility of mind).
- 43. MINDFUL MARKETING Mindful Marketing is: 1. Intentional instead of habitual 2. Includes all stakeholders affected and not just shareholders 3. Embraces disagreements & different perspectives 4. Solves cause of problems and not just symptoms 5. Uses individual & collective emotional intelligence & not just rational mind.
- 44. MINDFUL MARKETING CHECKLIST Bringing attention with non- judgment, compassion & flexibility of mind to: Why - Intentions Who - Affected stakeholders What do we know Multiple perspectives Our assumptions Resources How - All Options Internal data points
- 45. MINDFUL MARKETING PLAN ATTENTION WITH ACCEPTANCE 4 P’s Why Intentions Who Stakeholders What Know & Assume How Options Internal data points Mind, heart, body Product Price Promotion Place
- 46. MINDFUL MARKETING LEVELS Level 1 Mindfulness at Individual Employee-Level Level 2 Mindfulness at Marketing Mix-Level Level 3 Mindfulness at Organization-Level
- 47. MINDFUL MARKETING AT EMPLOYEES LEVEL Mindfulness at Employees-Level Level 1
- 48. MINDFUL MARKETING MIX: PRODUCT Level 2 “We live in times of limited resources but unlimited desire to consume them. The answer though is real simple: to consume less as a consumer; to make a better designed product as a manufacturer.” ~ Co-founder David Hieatt of Howie’s Hand-Me-Down Line
- 49. MINDFUL MARKETING MIX: PRODUCT & PRICE Level 2 “Blu's process has been developed to add transparency and to reduce surprises as the project evolves. This is critical, because every site brings its own unique set of challenges that must be considered by professionals. We work hard to identify those challenges and costs as early as possible in the process with Blu's Design Services.”
- 50. MINDFUL MARKETING LEVELS: PRICE Level 2 We have saved students more than $700 Million. BookRenter has never wavered from our mission to make education more affordable for all students. Every day, we focus on delivering students the best prices, the most flexible options, and the best service on earth.
- 51. MINDFUL MARKETING MIX: PROMOTION Level 2 “Join the movement to look up from your phone and live for the moment. Pledge to engage more, connect more, share more, explore more.”
- 52. MINDFUL MARKETING MIX: PROMOTION Level 2 "The world is becoming an increasingly noisy place and sometimes whispering can be more effective than shouting. No one has ever created an ad quite like this and we hope viewers will enjoy this rare moment of calm.” Acton Smith, Founder of Calm
- 53. MINDFUL MARKETING LEVELS: PLACE & PROMOTION Level 2 "Our mission is to promote and perpetuate the street food movement," Resnick
- 54. MINDFUL MARKETING AT ORGANIZATION LEVEL Level 3 “How you climb a mountain is more important than reaching the top.” ~Yvon Chouinard, Founder Patagonia
- 55. MINDFUL MARKETING AT ORGANIZATION LEVEL Level 3 "Basically, our mission is to make the best-quality product with the least amount of harm. It's very hard to produce a high-quality product without high-quality employees." ~ Setnicka, Patagonia Spokesperson
- 56. MINDFUL MARKETING AT ORGANIZATION LEVEL Level 3 "We sort of look at growth in this company the way we look at a life cycle. If any one component grows too much or too fast, it throws the system out of balance," ~ Setnicka, Patagonia Spokesperson
- 57. MINDFUL MARKETING AT ORGANIZATION LEVEL “We want people to look at their own lives, and live in an examined way, and again, question whether you really just want that product, or do you really need it because it’s cold this winter.” ~Sheahan, Former Patagonia CEO Level 3
- 58. MINDFUL MARKETING PLAN ATTENTION WITH ACCEPTANCE 4 P’s Why Intentions Who Stakeholders What Know & Assume How Options Internal data points Mind, heart, body Product Price Promotion Place
- 59. COMPARING TRADITIONAL & MINDFUL MARKETING Traditional Marketing Mindful Marketing Mission, Vision & Values Maximize Sales, Profitability & Shareholders’ Value Make the world a better place for all beings - Triple Bottom Line Customer Segmentation, Targeting, Positioning Customer Empowerment & Collaboration Marketing Mix 1. Product 2. Price 3. Promotion 4. Place - Products designed to maximize profitability & satisfy customer needs - Price doesn't include environment & social costs - Promotion of mindless consumption, excess information - Easier access to mindless consumption - Product designed for well being of all stakeholders - Transparency of price, including hidden costs - Promoting mindful consumption - Easier access to repairs, recycle, reuse, & sharing
- 60. REFERENCES Marketing 3.0: From Products to Customers to the Human SpiritMindfulness Resources by Kotler et al 2011 Spend Shift: How the Post-Crisis Values Revolution Is Changing the Way We Buy, Sell, and Live by John Gerzema & Michael D’Antonio Mindfulness: The Transformative Potential for Consumer, Societal, and Environmental Well-Being by Bahl et al 2016 Mindful consumption: a customer-centric approach to sustainability by Sheth et al 2011 Mind the gap: The mediating role of mindful marketing between market and quality orientations, their interaction, and consequences by Malhotra et al 2012 FUNDES: Becoming a strategically mindful nonprofit by Bucher et al 2016
- 61. CONTACT INFORMATION Email: Shalini@RemindingProject.com Website: RemindingProject.com Mindfulness Community: http://mindfuluniverse.com LinkedIn: http://www.linkedin.com/in/shalinibahl Twitter: https://twitter.com/shalinibahl Facebook: https://www.facebook.com/DowntownMindfulness/ Slide Share: http://www.slideshare.net/ShaliniBahl LOOK CLOSER. SENSE DEEPER. LEAD SMARTER.