Connected marketing that uses digital channels to engage with customers is more effective and cheaper than what came before, as Stan Rapp explains in this TV show. Connected Marketing is a fundamental change Technology has changed marketing, fundamentally. It is changed it in the best possible way. It has lowered the cost, and increased your opportunity [...]
Connected marketing that uses digital channels to engage with customers is more effective and cheaper than what came before, as Stan Rapp explains in this TV show. Connected Marketing is a fundamental change Technology has changed marketing, fundamentally. It is changed it in the best possible way. It has lowered the cost, and increased your opportunity [...]
Digital engagement gives businesses a fantastic way to connect with customers and build their business, as Don Peppers explains in this TV show.
Digital engagement: Who do consumers trust?
If a business wants a home in the future, they have to have their own collection of friends who wish them well, of customers who want them to succeed, of customers who want the best for the brand because it's also the best for them. I think a lot of businesses think of engagement as sort of the marketing buzz word du jour. But it's not a buzz word. it encapsulates a very, very important real thing, that businesses today have more capability to actually participate in interactions and conversations and relationships with individual customers, one customer at a time, then they've ever had before.
Keep an eye on Connected Economy TV if you are interested in digital engagement. There will be more expert discussion and industry success stories.
Businesses now use more connected marketing. In this TV show Louis Gray explains how to drive you social marketing strategy with a great blog.
Connected Marketing and social strategy
If you're going to look at a blog, and you have to make frequent updates, you want to have to really know your product, and know your market and know your industry and care about it. If something looks forced, it is forced. And people aren't going to want to engange with something that looks like you did it just because you were told to. In order to have a successful blog that gets engagement from readers and potential customers, you need to really know your industry and study it. And have an energy to engage. And to have unique articles that can come out with the level of frequency that people will be return visitors, and find out that you're participating.
There are a number of companies who have embraced blogging. Two of them, and specific example, include Sun Microsystems and Cisco. Both of those companies have managed to take what's typically a very large enterprise, and turn that into a social experience for you have communities. Each one of those companies encourages its employees to participate, and speak on behalf of the company, with limits. You don't want to disparage the company. You want to speak about its products and its customers in a good light. And not to violate any kind of confidentiality and secrets you may have with partners or the company itself. It's been fantastic to see these companies that are traditionally closed, open up and really start to engage the rest of the blogosphere.
Companies that operate blogs, typically you want to see an update no less than once a week. The truth is, if you don't have enough content of unique nature to publish more than once a week, maybe you shouldn't be blogging. There's some people who also publish much more frequently than that. Upwards of multiple times a day. That depends on the topic, the subject matter, and what the individual knows about that space, where they can deliver unique content with value frequently.
Connected Economy TV will continue to follow ideas around connected marketing. Look out for more shows from Louis Gray.
Social media means that business are going online and achieving more connected marketing. In this video Don Peppers explains why today’s market demands are different marketing.
Connected marketing conversations
Don Peppers: Every business out there is focused on generating sales and generating profit, but you can't do that simply by taking advantage of customers. You've got to do it by working with customers and participating in the conversation now. You're not going to be able to continue doing business the old-fashioned way. You have to participate in these new social media.
Micheal Fisher: I do not know in our history a period of time where a channel and a group of technologies could be more disruptive to a brand, than where we sit right now.
Connected Economy TV will continue to follow ideas around connected marketing.
digital engagement analytics measure the ROI of social media
Digital engagement analytics have been of growing interest to businesses as they want to know exactly what impact their social media marketing campaigns are having.
Digital engagement analytics in marketing
Over the last ten years, people have really taken a lot of looking at analytics for their website. People want to know how many page view you're getting, how many unique visitors, how many click-throughs did you get, what was the percentage click-through on a banner ad. Some of those elements we're finding are less useful than the end result about ROI. You know, what was the revenue that you generated from your website? What was that brand perception that was improved by seeing your content on another site through public relations or partners and customers talking about you?
The new elements in social media people are still coming to grasp in terms of what's a successful campaign. What is the good result? How many followers do I need to consider this a success? How many click-throughs do I need to have success? Those same analytics that you've been running on your website can be run on social media. I can know how many clicks every single Tweet received. I can know how many followers I received over a given time period. I can know how many re-Tweets or how many forwards that I received from a specific campaign. I can know how many new people commented and interacted with me on my Facebook fan page. So each of these elements are converging, so you can find out just how many people you directly influenced through a campaign, how much reach that received, and whether that was a good use of your money and your time.
In any corporation, a marketing team needs to prove that it has value. Every single campaign needs to show that it had success, or every single message needs to be continually tweaked to make sure it's hitting the right people at the right time and saying the right things. If you are measuring your success in social media, you can help validate the activity that you're doing. You can help show direct results in terms of engagement with people, in terms of creating new customers, and in terms of helping your brand, both in popularity and in relevance.
Connected Economy TV will continue to follow ideas around digital engagement and analytics.
Marketing communication strategy will be made stronger with the use of video. In this TV show Nigel Huddleston discusses using video in the hospitality industry.
Communication strategy: Conveying business propositions through video
Video is really important for travel because it can convey the emotional experience of travel and it gets that excitement going.
So what we’re seeing is a real change in the mind set. And actually what’s on there in terms of content from the likes of hoteliers and holidays.
And it’s not just still photos and bits of empty rooms or ghost ships that are empty now.
You’re getting these really emotional experiences that are being conveyed on video, you know, fantastic holiday scenes, great experience around the pool of the hotel, great lively restaurants, nightclubs and bars.
And that can only really come across in video content. So we’re seeing hoteliers and travel companies really experiment with much more creative content than we’ve seen in the past.
Connected Economy TV will continue to follow ideas around communication strategy. Visit ybc.ybcnetwork.wpengine.com to hear more about the power of video.
Digital engagement creates information at the edge
Increased digital engagement is creating more data, which can be very useful for marketing as David Moschella discusses in this TV show.
Digital engagement is more powerful that marketing messages
Well increasingly the information at the edge, in our view the information created by customers prospects, the community at large, is the single most influential part of the buying process in a lot of firms.
And many of us won’t buy anything or stay in a hotel until we know what trip advisor or Amazon and others are saying. And that content comes from customers and their rating system.
So community content and that information that comes from the marketplace is far more powerful than say the marketing messages that your own firm can put out there in most business we work with.
If you are interested in issues around digital engagement bookmark Connected Economy TV video and keep an eye out for more videos.
Marketing communications strategy in the digital economy
Marketing communications strategy has changed a lot over the past 40 years, as Ed Fuller of Marriott Lodging International discusses in this TV show.
Marketing communications strategy - The biggest change in 40 year career
In 40 years the industry has changed, the business model has changed, but the marketing certainly has dramatically changed.
In the early days in the 70s and 80s, business was done primarily through direct sales, magazine marketing and the like.
I won't take you through the 40 years but if you go to today the internet is a key player and Marriott happens to be number 7 in the world not of hotels but number 7 in its marketing through the internet based on global sales.
And as a result we compete with the Amazons and the others in that category.
That means that we anticipated that particular change and took advantage of it.
We are working right now trying to understand the next technology and obviously we are in the middle of social media, trying to understand how we can influence by utilising social media.
We will continue to see changes in that channel, yet technology has given us the ability to have over 34 million Marriott rewards players, has given us the chance to continue to dominate the market as far as selling to travel agents through the global distribution system.
Technology has been an enabler for the marketing side of our world, yet we still have to do business one to one in direct selling. Specifically in groups and area such as those.
We will continue to do that, I think into the foreseeable future. But media today is not on the traditional routes in most of the world. There are still some parts of the world where the newspaper and the magazine are extremely popular. In the Middle East. And we have adjusted regionally to those transitioning areas.
Access to data through a practice management system can help CEOs stay connected with the needs of the business and its clients. Sir Nigel Knowles gives his opinion in this TV show.
Access to data: Maintaining the flow of information
A flow of information, to me is very important, but fortunately we have a practice management system that allows me to access that information at any time, wherever I am.
So in terms of the basic financials of the firm, how many recorded hours we achieved yesterday, what our billings look like for the month/year to date.
What percentage is recovery against charging rates we've got, that's always immediately available from the point of view of marketing and business development and new work coming in or tenders and pitches that we are preparing for.
I am familiar with those and in many cases get involved in them. Because if you are doing my job I think its crucially important to remain connected with clients, you can't build and run a law firm without knowing what the client dimension is.
I think the more time I can spend with clients the better I am able to develop and push the practice.
Without clients we have nothing. Clients are everything to our firm.
Connected Economy TV will continue to follow ideas about data, access to data and connecting with customers.
Social media policy should extend outside the marketing department, as Bob Barker explains in this TV show.
Social media policy - Companies need to leverage their employees.
So companies are just waking up to the fact that they need to leverage their employees.
There’s a terminology that says marketing is far too important to be left to the marketing department, and that is the terminology that’s becoming true now with social media.
So if you just do push only marketing you’re not you know, you’re back to your 2% response or less, or if you’ve just got that mind-set that is, it works but it’s not terribly efficient and people don’t trust that marketing anymore.
So what companies are beginning to realise is that the that sales people and individuals in the company represent a really good way of getting their content out there, the important content that people need to engage with, particularly in the business to business area.
And so people are beginning to realise that if their sales people and their key executives aren’t good online they need to do something about that because if they haven’t got. For example, if they’ve got ten people on LinkedIn and they’ve got no picture of them.
They may be brilliant, but anyone of a younger generation is gonna look them up and think well, I don’t want anything to do with them. They obviously don’t understand this new world.
So there’s the companies beginning to realise that. LinkedIn has gained huge momentum the last few years as a defacto platform for people connecting in business.
So companies are beginning to realise the power of LinkedIn, companies are beginning to realise the power of content and getting people to share that content through social channels.
And it’s very important that individuals are used to share that content. It’s much more easy these days.
You’ve got these share buttons on the bottom of all the content. But even people knowing that they can just click on that content and it will share it, people generally don’t know that.
So there is a big opportunity to educate people who haven’t had that education because nobody told you how to use a PC, nobody told you how to use social media to get that education and help the firm do its marketing.
Connected marketing relies on well developed personal brands to share company content. Our latest video from Bob Barker explores the issue:
Connected marketing comes from individuals
A lot of companies out there have been using traditional marketing mechanisms.
They’ve been using digital marketing, and what we see is that more and more marketing has got to rely on the individuals in the company to help get the messages out because it’s those individuals that are often the sales people and it’s the individuals who themselves have got networks.
So what we do a lot of is helping people to understand what their personal brand is all about and to make sure, for example, on LinkedIn that they’ve got a decent profile because Google’s going to find you on LinkedIn if somebody’s looking for you quicker than any other platform, so you need to look the part.
You need to be dressed well, and so on and so forth. And then there’s the whole thing about network maintenance, or understanding and managing your network.
So we’ve all built up contacts on our Outlook or whatever it is, and we’re beginning to build up more and more contact on LinkedIn as it becomes more the de facto business platform for business people connecting.
So we have to put time in and understand how we build and nurture our networks using something like that.
And then the other thing is that now we’ve got a brand and we understand our network, we’ve then got all this content that the company’s produced that might be relevant to what we’re talking about but nobody’s sharing it.
So a lot of companies are building all this content and people aren’t sharing it, like these videos.
We see in large companies, when you look at the shares, nothing’s going on, and so we help companies to understand.
We help the individuals in those companies to understand it’s their responsibility to help get this content out there because on the internet when people are researching companies and they’re looking for what people, you know, what companies are all about, they’re doing a lot of their research without the company knowing.
So unless that company’s got content out there and people are interfacing and being out there, and having their brand out there, they’re not going to be visible when companies are looking for who they want to do business with and who they might trust.
Marketing communications strategy has a pattern. In this TV show Ibrahim Ibrahim looks at consumerism and status symbols within emerging economies.
Marketing communications strategy in developing economies
The developing economies are going through the cycle of consumerism that we went through two decades ago.
I think this idea of buying stuff and buying logos and just accumulating status symbols is prevalent.
But I think, like in the developing economies, there’s a shift from status symbols to status skills, no longer.
At the heart of consumerism is status, but no longer is the status, you know, in owning this bottle of whiskey, it may have cost me 80 quid but, you know, two decades ago the status was in owning it.
Now the status is in knowing whether it’s east coast, west coast, is it peat, is it honey, where is it from, is it made on the Isle of Skye, is it by the sea, because it’s got beautiful flavours of peat or you know, it’s the stories.
So if we’re talking and go full circle back to the notion of the store, stores are no longer about shops, they’re about stories.
And I think that is really important, the idea of shifting shopping from stores to stories is really key.
So how do you equip customers with those stories, and that are engaging and relevant, that they can then gain status, because that’s ultimately what we all want.
It’s the dematerialising of shopping.
Look out for more discussion about marketing communications strategy from experts like Ibrahim Ibrahim on Connected Economy TV.
The technology revolution is changing the way people learn about products. They are more likely to follow the advice of an internet forum than an official review. Andrew McAfee discusses:
Embracing the technology revolution is vital to survival
Well if you’re ignoring the technology revolution among your consumers you’re clearly just missing the boat, in a very broad and deep way.
It’s clear that we’re plugged in too much at the time, we’re staring at screens, that we’re getting a lot of our signals from our peers, from strangers over the net via review sites and judgement sites and relying less on the old guard for helping us figure out what our next purchases should be and how we should be shaping our behaviour.
Any company that’s not part of that by now is already losing ground very quickly and that’s only going to accelerate.
It’s striking to me how the old world of relying for example on restaurant critics and how many stars the hotel has, as given by the hoteliers body, that’s in the rear view mirror now, we just go to Yelp and Trip Advisor and look around.
I can’t remember I looked at the official rating for a hotel that I was going to stay at, I find these things meaningless now.
Look out for more videos about the technology revolution on Connected Economy TV.
Nigel Palmer: "There’s a huge amount of data available. And we heard today about how we can know how many people come in and out of a 200 meter square, where they’d been two hours ago etc. And that’s really good data. And consumers at a personal level, if you can be intimate with them and give them the information about that them and the product that they want, you can attract them back into there because they know. It’s like going back to your friendly restaurant, like me going back to my bike shop, they say, “Hi Nigel, we know exactly what you want, we know exactly what we’ve got to do to sort of service it.” And I think more time should be spent on that personalisation, that service as well and time and effort put into that. I think when, for example, shopping centres like Bluewater opened a while back we saw some innovation on that. And we saw beautiful shopping centres open up in, you know, with Westfield. But I’m not quite sure how much more they’ve moved on, maybe it’s been more about the design and the physicality of the building as opposed to the services and the encouragement of how you bring the customer journey, not the online, not the store journey, together."
Nigel Palmer: "The pop-up story, we’ve heard of pop-ups being around for a while. But I recently have been working for an online watch store who very cleverly opened a pop-up shop in Covent Garden, very successful indeed, for the peak trading time. There may be a lot of retailers who just want a shop for the peak retailing time. And they took some money. But the really good thing for them was that their sales online went up 50% as a result of having the pop-up shop because it’s a great marketing exercise and it’s made them think about the role of the store moving forward. And in their ideal world, what would they want, probably a dozen pop-up shops, you know, at Christmas, maybe 25 pop-up shops. Is that interesting to a property developer? And I think some of these things are not embraced, they’re not encouraged and there’s an opportunity to hold those things there. Recently in Clerkenwell, in the back of a void sort of area, they invited people in with products, with services and they had a design week where there were some fantastic products, showcasing that product. And all credit to those people, why isn’t that happening in our high streets? Why isn’t it happening in our shopping centres? Where’s the creativity? And it’s probably easier for me to make these observations because I don’t have any corporate ties, I’m looking at these people who are thinking, getting ideas, making them work now, without all the infrastructure, without all the layers to make sort of decisions on. And you know they’re making it happen. Maybe, some of the bigger organisations need to look towards that, because time’s ticking on, customers are changing and you have to embrace that."
Karolin Forsling: "The first thing I think is what we do wrong in the property sector when we are developing retail is that we do what everyone else does, we don’t focus and understand the place that we’re actually going to be and develop. That’s the first thing, because in Stockholm for example, 300 metres away it can be a totally different target group. And you have to understand that it’s all about the block away and it’s totally different. And what I think is important is the food, the restaurants, the eating, the meeting. Now, we started with that when we developed Mood, to take the restaurant there and not only a restaurant, the best restaurant, who create different kind of atmosphere in different kind of zones. And there we completed with shops around the restaurant and that makes us more interesting place to be, because it lives from the morning to the night."
Ibrahim Ibrahim: "I think what’s driving the change is expectations from different types of - let’s call them tenants, different types of “retailers”. And there will be fundamentally two new types of tenant, there will be the pure players, online brands that will see retail, retail shopping centres, retail parks, high streets as an important channel to come into and to create engagement – physical engagement with their customer tribes, let’s call them because that’s what they will be. But their demands will not be 10 year leases in concrete boxes in shopping centres, their demands will be spaces that are programmable, that are changeable, that are there for a day, a month, six months. The second is FMCG brands, Procter & Gamble, Unilever, all the guys who have got consumer brands will be coming more and more prevalent in shopping centres and in developments. And again their demands will be different. So for shopping centre owners, for asset owners, their culture will change, will have to change, particularly their leasing culture and their leasing model."
Ibrahim Ibrahim: "So imagine, well illy are doing a lot of this. Now, illy used to be a coffee brand, it’s no longer a coffee brand, it’s no longer about silver tins of coffee. illy is about a brand which absolutely engages customers with, yes, the cultural coffee, yes, coffee’s placed in society, yes, art and crockery and books on art, so illy has become a culture brand, yeah, culture of coffee, but culture in the big scheme of things. And it has connected with a whole group of customers that are part of that brand, are part of their social network and it gives those customers, through constant connectedness, through digital, lots and lots of value about art, about coffee, yes, they can go and buy coffee as well, but it’s part of a bigger, bigger picture. And when you get to an illy shop, it’s not a coffee shop, it’s where this art and culture and sociability and debate and the whole idea of the old coffeehouses comes to life. But that won’t be a coffee shop and it isn’t, you know, at the moment it’s a container that opens up, arrives and closes down. And more and more brands will do this, Marmite are doing it, Heinz are doing it."
Multi-channel retail measurement difficult to achieve
Robin Bevan: "Organisationally within retail, there is still a huge amount of change to come. And a couple of examples of that, one is the way in which retailers need to understand their business models. So traditionally it’s been, up to now, many retailers still tend to think in a slightly siloed way about the sales that e-commerce generates and sales that stores generate. And clearly, given the fact that consumers are dipping in and out in between channels as part of the same purchase, that’s a slightly way of understanding what’s really driving value for you as a business. So understanding that consumers are shopping in that way, retail businesses need to start picking apart their value chain a little bit in order to guide them as to where is the most appropriate place to invest their funds and what sort of return on investment to achieve. So all of these things and there’s lots of others as well, have big, big implications on retailers in terms of the changes they need to make to their business model, to their organisation and to the way that they communicate with their customers."
John Halpin: "In terms of, myself at the bank, we’ve got a lot of products and we launch products, products what people know, like mortgages for example, and we’re going to be launching that. And we’ve got general insurance products and savings products and credit cards. People know about that. But in terms of maybe the next product or enhancement of the product, it’s quite interesting. You can use some of the data in terms of, what do people think? So that moves what I do into more of a research, so with the colleagues that I deal with in terms of, well let’s speak to these people. Let’s create a piece of research based on their cross product holding or what they have now. If someone’s recently bought travel insurance, for example, from the organisation and I might want to tweak that product. I might want to offer it slightly different. I will speak to the person, find out what was his customer journey like, what would he think if he bought that again, maybe at a higher price but different features? So you can use this kind of information that’s held within a marketing database to drive that. And that will help in sort of the product insight. So it’s linking some of that with some of the other research that you can get widely available from the research agencies in the UK. But talking to your customers and again, back to channels and the power of what we do
I mean traditionally you could commission a piece of research. You can go outside into a shopping centre and ask people. You can phone people up. But nowadays email, internet, social media again, these channels can potentially be used. And that helps back more to another point you recently made about how quick you can do that. So if you know someone bought a product as of yesterday, how impressive would it be if that company got back to you and actually said to you, “Well how was your customer journey? How do you think? You bought this product. They actually tell you what product that they bought. And then do that within a week back to your buyer, that’s quite impressive. You know, and it sounds relatively straightforward, and companies should be doing that. But again, because of technology and systems and integration and that kind of thing, not a lot of companies can do that."
John Halpin: "Not great, I would say, in the life of the UK economy, certain areas and certain industries may be a bit better, but not that great. A lot of businesses will talk about being customer centric, you hear a lot of them talk about this. And you’re not empowering the customer, putting the customer at the heart of the business. But the technology behind that statement and the interaction of how to do it is very difficult. And if you’re a big organisation, if you’re a big bank, if you’re a big retailer, you know, if you’re a big pharmaceutical, doing all that is going to cost a lot of money. So we’re not that great, there’s lots of data being captured. I just read a snap this morning, 90% of all data captured on systems has been captured in the last two years. So 90% in the last two years, so my career being 20 years, it’s only basically been 10%. And 90% has been captured in the last two years. How you unlock that and how you use that is very difficult. And a lot of organisations, again, where I see and I’ve done this before as a consultancy, you go in, and you say, “The reason why Tesco has been very successful with Clubcard, because they know who the customers are and they know what their shopping behaviour is.” That kind of thing is the same with Sainsbury’s on Nectar card. They know who their customers are. So using that information, that’s what you need really to drive profit and drive trade and drive insight, get to know your customers, find out who they are. And that’s what we have to capture this, rather than, to me, rather than capturing transactional information, understanding the metrics. If you don’t know who the person is behind it, you’re going to struggle."
Nick Cole: “Shopper marketing is really about how you influence customers' behaviour, consumers' behaviour, turning browsers into buyers. So it's about the type of messages that you use, not actually how they look. So, for example, if you're selling something like chocolate it's not just about telling someone it's great chocolate. You might say it's 400 calories. You've earned your reward by saving 10% on your shopping. So it's understanding why people buy chocolate. It might be reward. It might be something for the kids. There might be a piece historically that's been in the newspaper that says it's actually good for you now. It's having a campaign that's related not just to the product. It's actually what is in the psyche of the shopper.
I think the reality of shopper marketing is about understanding a) the product you're trying to sell and b) the consumers, and all consumers aren't the same, so, without being too much of a marketing geek, segmentation targeting and positioning is very much about finding your product, finding out who you're trying to sell it to and having personalised messages to the right segment that you're trying to actually offer that product to, then understanding their buying signals and their buying influences, and creating a marketing message that actually plays on those."
Nick Cole: “By and large, people have got less money to spend, so the reality is there is less, less people shopping regularly and they've got less money to spend, so the decisions that they have to make in store are harder for the consumer to make.
They need to have, for them, the right products in store and the right offering, but really when working with us it's being able to influence that consumer behaviour. One of the phrases we use at SP is 'being able to help our customers and our clients turn browsers into buyers.'
The reality is obviously the product and the offer needs to be right, but the way in which it's communicated needs to be very, very clear and concise. I think it needs to represent, particularly in retail and particularly in the large grocers, real value to the end user, so they need to be able to visualise the value to them, be it in it's either the cheapest or it's a better brand at an appropriate price."
Nick Cole: “For us it's very much about personalisation and more targeted POS, so, for example, we're working with one of our large customers at the moment on geographical POS, so there'd be different dynamics in different parts of the country and there'll be different POS for different parts of the country that we targeted at the consumers that live and work in those parts of the country. So the reality is we're using data, we're using more considered thinking, we're printing in a much more personalised and bespoke manner, but still managing the campaign as a whole."
Nick Cole: “Consumer attitudes have changed but the reality is actually they're all different, so in different segments of the market the attitudes are actually changing – some more positively, some more negatively. Everybody's a little bit more choosy. Everyone makes more considered decisions than they did in the past, so therefore the marketing messages they see in store and out of store need to be targeted more personally at them. People have become much more considered to bland marketing messages that don't mean anything specifically to them."
Nick Cole: “Some of the research that we've seen, actually online and above the line advertising, is actually quite disconnected with some of the things that we see in store, so what we do is work with some of our customers to try and encourage them to a) connect that together but I think a lot of the consumers nowadays it's about price point and what value they are seeing from the offer or the brand that they're looking at. So although they are influenced by a lot above the line, there is an enormous amount of influence on in store purchasing and those decisions are still made a lot in store."
John Halpin: “The big thing we’ve done is what I call building a marketing database. It sounds relatively straightforward, it’s my remit and the job’s what I’ve been tasked to do. You’d be, not surprised, but people would be surprised, a lot of organisations can’t actually do that and they fail. They might spend millions of pounds failing to do it. It’s the key achievements, it’s very different from operational databases and operational data stores. It’s linking all this data, it’s joining a customer, turning it into people, turning the data into a person. And ask that person, what products they have, how they interact, what loyalty factor they are. You can even start to segment the database into high, medium and low value, these kind of things, you can model that database, building that database is one step which is a big achievement and then maintaining that database. You know, as an organisation, you know, that’s constantly launching new products, each new product to me it’s got to go into the marketing database. So you never really stop building this thing, it’s constantly getting built, as we interact and talk to customers. We might need to store a contact history of that record, we’ll have to put that into the database. We might then have to link that into potentially social media interactions, link it into call centres. So can get bigger and bigger and bigger, but you’ve got to start off with the marketing database initially."
John Halpin: “It’s a problem but it’s an opportunity as well. It’s always there. It’s been in every organisation I’ve worked in, not just in financial services, but in retail services and other industries besides FS. But in terms of siloed data, a senior manager in database marketing, you’ve got to understand. You have to start somewhere. I can’t grab everything and build it all in one and say, “You know, I’m the master of my own domain, I’ve got all the information.” There’s always going to be a need for siloed data, in terms of an operational system a call centre. A call centre and what they store, how a dialler system works and how they interact and talk to customers is very different from a marketing database. An online social media data store and how that’s used and how people interact in social media is very different than a marketing database. Where I come from, in that is not so much joining those systems, it’s joining that data. So bringing that data in to maybe help me understand a mine of customers and look for any trends and behaviours. But there’s always going to be a need for different data sources within an organisation. The marketing database is separate and has separate keys for example. But you do have to understand that. This is what I say quite a lot to senior colleagues, marketing database, think of the words, marketing database. So it’s about marketing and helping the customer, my remit’s not really to make sure that the dialler system works or the online booking system works for example. It’s about the marketing side of the data."
Social tools are behaviours, not marketing channels
GRAEME CODRINGTON: "facebook is not even a channel, it’s actually a behaviour. And companies don’t understand this. Companies are trying to treat facebook like a channel, they’re trying to work out how do you do marketing? How do you do recruitment through this social media space? I mean I say facebook, Twitter, LinkedIn, and all the others are going to be in the same category. They are behaviours that have simply found technologies to make them happen. And that means that companies really need to adjust their attitudes. This is what we call beyond the hype. We need to go beyond the hype of the 13 million so-called social media experts listed on Google, who will come in and tell you how you can increase sales and how you can increase staff retention. Maybe you can do those things. But on a long-term basis something else is going on in social media. It’s about building communities. It’s about engaging, interacting, involving people in conversations. It’s about connection. And these are not things that you then use in your marketing team or your HR strategy. These are ways of living, ways of engaging, and that’s the mind set shift, that needs to take place. These are not technologies, these are behaviours and we need to adjust our behaviour and attitude to match the technologies that are available."
AMANDA LING: "The services that we offer at Response One are fully integrated, so our data intelligence and insight service is integrated into our media planning approach and also into our data processing and print, and production. So that joined up process enables us to really help clients. The process is much faster, so the client will get their campaign out to market much more quickly, and the communication throughout that whole process is much, much better."
AMANDA LING: "Once we've recruited the right customer it's critical that we keep those customers. The costs of acquiring a new customer are much higher than those of marketing to an existing customer. So we help our clients to implement retention strategies that analyse customer behaviour and implement campaigns that send relevant and timely communications to keep that customer engaged.
We help our clients to grow their customers, so we will analyse the customer engagement data and help them to identify the best products to sell to those consumers at the right time or the right product or sequence of products. Customers have an expectation when they share their data with brands that they trust that those brands will use that data to market to them appropriately, so with the right products, things they're interested about and at the right time. And we help our clients to do that and to optimise the customer engagement process."
AMANDA LING: "When we help our clients to find new customers, we always begin with analysing existing customer data. That helps us to understand what the customer looks like and we can apply the insight to our prospecting strategy, and that will then help us to identify prospects that are most likely to convert, most likely to be high value, long term, and profitable customers. Once we identified the right prospects to target, we then help our customers to convert those prospects. So we will implement conversion strategies to help minimise the sales lead time and maximise the conversion."