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Relevance, Value, Trust, Agile, Mindset
New Era Marketing
of
This presentation was created to help see the required changes to your marketing foundations to be able to break though the infinite noise and create a scalable, sustainable, and valuable marketing program.. Feel free to reach out to me on Twitter @msweezey to continue the conversation. Mathew Sweezey, Principal of Marketing Insights Salesforce This presentation is compliments of.
@msweezey
Marketing has entered Into a new era
Welcome to the infinite!
Media
Environment
Businesses
Consumers
99% of all things to ever exist on earth are now extinct due to changes in their environment. This is our environment-
@msweezey
5 Media Channels
In 1960 there were only 5 marketing channels we must master. They are all analog, and mass. All of our marketing foundations are created during this time. @msweezey
Over 200 Channels now
Increasing the number of channels into infinity because it will be the biggest budget, so it will get the most tools.
@msweezey
Limitless Media
On average there are 1,500 posts waiting for you on Facebook, and on average you check Facebook 17 times per day (Ages 35-49). @msweezey
Limitless Distribution
More people in the world have access to a mobile phone than have access to clean drinking water or electricity.
@msweezey
Limitless Consumption
This is over 12 hours per day, across multiple screens. Tangling up work life, personal life, and everything else together.
@msweezey
By 2020 there will be: 7 times as many connected devices as there are people on the planet.
Each devices must be connected to deliver the experience the
consumers want.
-CNN Report 2014
7 @msweezey
We entered a new era of media in
2007. Consumers over took businesses
as the largest creators of Media..
@msweezey
New Buyer Behaviors
heu· ris· tic: Enabling a person to discover or learn something for
themselves. Digital experiences are heuristic.
A consumer can determine if there is value in a web experience with in 1/20 of a second. If it is not valuable then they leave. On average a person only stays on 1.7 pages of a website Nobody taught consumers how to search, how to use email, or use Facebook. They learned on their own. - Cliff Seal 2015
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Let’s Test You Lets see just how much you have changed based on the
environment around you to make this point even clearer.
“A” or “B” How do you manage your email
in box?
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We Disqualify before we Qualify
The massive amount of data coming to us via email has trained us to first delete what is not relevant so we can have an easier time managing what we really need to be working on. This is a Heuristic behavior, because nobody taught you how to do this. You just learned on your own.
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“A” or “B” How do you download content?
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We batch research
Based on how easy it is to find and consume content we now naturally do it in large batches. Once again this is a learned behavior and something which is a new buyer behavior. If we can understand this we can now start to optimize for greater content conversions when someone is on our site.
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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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Relevance, Value, Trust, Agile, Mindset
New Era Branding
of
Holistic Mindset You must understand how modern buyers build and maintain trust via their infinite channels. With out this understanding you will be forced to use marketing campaigns as band aid's for major underlying issues. Marketing’s role becomes a much larger role and one which reaches across all departments to ensure a cohesive customer experience.
Without Mindset We create amazing commercials, and beautiful brand imaging, however these are only a single touch among an limitless journey. Mindset holistic, branding is departmental.
“SHIP MY PANTS”
Consumer Reviews Upon seeing the “Ship my pants” commercial I did a Google search to find the local store. What I found was an average review of 2.9 out of 5. This created a negative impression directly following the commercial.
Net Positive Experience I then decided to go to the brand website, and it was broken. This created a “NET NEGATIVE” effect and the only way to win me back is to spend more money on another fancy advertising campaign.
-Andrew Davis, Author of Brandscaping
“ “ “It is not the height of your
highs, but the valley of your lows which will shape your brand”
Leaders Vs Laggards Companies who excel at customer experience out preform the S&P index by 30%, and customer experience laggards by 65%. It must be looked at as a product you produce. -Watermark Consulting
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@msweezey
Building Mindset
Building and maintaining mindset must be very easy
to implement and follow. If not it will be to complicated
for people to put into practice, and your results
will vary. Keep it simple by making sure everyone can
answer these three questions:
Can everyone answer these questions the same? 1) What do we value in an employee 2) What do we value in a customer 3) What do we call success
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Relevance, Value, Trust, Agile, Mindset
New Era Technology
of
System of Relevance There are an infinitely growing number of marketing channels and the only way to execute contextual experiences is via a centralized system of relevance. It is the technological foundation of all future marketing efforts.
“ “ -Gartner Research 2014
The CMO will have the largest IT budget in organizations by 2017.
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Journey must be personalized across all channels, and contextual to the moment. This means a minimum of the following connected systems: • CRM (system of record) • Marketing Automation (system of engagement)
• Website (owned engagements) • Product (increased value)
Connected Journeys
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Marketing Sales
Service
Single Customer View allows for contextual experiences to be automated on any connected channel.
Automation Platform (s) CRM
System of relevance
Allows for plug and play integrations with other apps who use data, and add to data.
Website Product API
Supports direct integration into your products and website for dynamic in product experiences, and bi directional data flow. @msweezey
You must have full behavioral data on each interaction across your owned channels. This data will tell you which content to show, and which moment the person is looking for.
Behavioral Data
Psychographic data must be leveraged when placing advertising across any media channel. This is the new way of targeting your advertisements, and it is possible to target in real time.
Psychographic Data
Your internal CRM data will need to be combined with your Behavioral data for content suggestions, and your psychographic data for better segmentation and content targeting.
Internal CRM Data Data must be able to be bi-directional if it is to achieve it’s full value. More is not better, unless you know what to do with it. @msweezey
Systems Architect
Due to the increase in technology marketing will be responsible for connecting the systems to create
seamless experiences. This will create the need for a new in
marketing departments.
Systems architect’s will be familiar with all systems, and know how to connect, and collect data to execute contextual cross channel experiences.
Becomes a marketing role
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Relevance, Value, Trust, Agile, Mindset
New Era Content
of
Founda(on#2SocialLiteracy
Nobody says “I want content”
They decide engage with content to solve goals, they engage with it because it aligns
with their purpose
@msweezey
70% Of the content we create never gets
utilized
-SiriusDecisions Report 2013
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71% Of B2B Buyers Have been disappointed with
content
-Pardot Research Report 2013
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25% Of them will never engage with your
content again
-Pardot Research Report 2013
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The worlds best media brands are failing. BBC laid of 500 reporters last year. Gigaom the $22 million dollar backed media brand, who pioneered blogging closed it’s doors after 8 years in 2015. Mass publishing doesn't’ work anymore ever for publishers.
Being a Mass Media Brand
Doesn’t workNewspapers revenue is ½
of what it was in 2004. Digital revenues are only 15% of total revenue for
the newspaper industry in 2014.
- Pew Research Center @msweezey
Path To Purpose There is no longer a path to purchase, but a Path to Purpose. Buyers paths are constant strings of moments intertwined together equaling an experience, fulfilling a buyers purpose. What are your buyers purpose for engaging with you? - Google Think, Path to Purpose
Human nature is to seek purpose
Purpose is Contextual
&
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PEW research found:
CEO’s pick up their mobile device 51% of the time
because they are BORED
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Escape People wanting to escape will lean on self discover and social channels. They are looking to escape their work, life, job, and take a short break. No barring on sales readiness. However the escape must be an honest, escape. It can not be contrived by a
business, but must be found by the person.
@msweezey
Read this article for more on creating humor in your content: http://www.clickz.com/clickz/column/2389218/create-better-content-via-humor
Kronos Case Study Kronos, a workforce
management software company, uses a weekly
comic to engage with their audience. Their comics are
consistently shared on LinkedIn two to 10x more
than their corporate blog posts.
Discover Discovery is one of the greatest gifts of the internet. We have
both passive and active discovery modes.
Active Discovery: Direct searches on the internet Passive Discovery: When you scroll down in Facebook
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Active Discovery Discovery is extremely powerful
for marketers to understand because it allows us to fulfill a
desired purpose of the consumer. Consider how much we like to discover. The top 7 websites in
the world are all places for consumers to actively discovery
things.
-Alexa research 2015
Top 7 Site are: 1. Google 2. Facebook 3. Youtube 4. Baidu 5. Yahoo 6. Amazon 7. Wikipedia
Discovery I the highest form of value
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Active Discovery
Anytime you do a search you are engaging in “Active Discovery” This is when you are looking, seeking, or wanting to find a specific item. “Amazon.com strives to be the e-commerce destination where consumers can find and discover anything they want to buy online.” – Jeff Bezos
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Passive Discovery Passive discovery is the secondary action of search. It is the reason we “Surf ” in the first place. We are passively seeking an experience, and trust the things we find on our own. Discovering something new is our purpose.
Finding unexpected things
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Passive Discovery
There is value in helping people discover things. Amazon hires 473 “Data Scientists” to study their conversions, and it’s effect on the customer relationship. If they do something look at why.
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Self Discovery = Trust
The modern consumers build trust in a new way. They have found the value of the instant access of the internet and placed a high value on self discovery. They even block your ads! Learn how to help aid in their discovery and you will gain their trust.
We must enable self discovery
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Presence Is the content which consumers create about themselves to
validate the mediated self they are projecting. Simply engaging with this is fulfilling their purpose, and is helpful, and does not
require you to create more content.
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Mediated Persons On average a person has 7.4 social channels, and will be very hard to reach on those channels due to increased competition from their friends, digital ad budgets, and ad blocking software. Mediated relationships require “Frequent and phatic gestures” to build and maintain mediated relationships and so our marketing must evolve as well.
Larry D. Rosen (editor), The Wiley Handbook of Psychology, Technology and Society
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1) Self Validation (posting) 2) Societal Validation (being liked) 3) Belonging (groups) 4) Reciprocity (the golden rule)
Social Capital is the key to understanding the “Micro Action”. With out it you will not be able to fulfill the persons purpose. By understanding these 4 simple rules you will easily understand what someone purpose is, and how to build stronger relationships.
Values of Social Capital
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“When you see 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
“ “
Relevance, Value, Trust, Agile, Mindset
New Era Reporting
of
Weighted pipeline allows you to show a metric which is valued by the business, because it is in dollars expected to come in. It can predict future outcomes, is comparable, and highly accurate. It is a metric which shows objective value!
Models vs Metrics
Weighted Pipeline = Volume x Efficiency x Velocity
@msweezey
Weighted pipeline allows you to show a metric which is valued by the business, because it is in dollars expected to come in. It can predict future outcomes, is comparable, and highly accurate. It is a metric which shows objective value!
Weighted Pipeline
Weighted Pipeline = Volume x Efficiency x Velocity
@msweezey
Velocity allows you to track the speed of a prospect/buyer thought the stages of the buyers journey. This allows for a holistic measure of the impact on a buyer of all marketing activities, and is a metric which is valued by businesses executives because it helps predict the future outcomes of revenue.
Weighted Pipeline
(velocity) @msweezey
Efficiency is the measure of how many prospects/buyers make it from one stage to the next. This allows you to measure and optimize the holistic experience of a buyer in their journey. It is valued by business leads because when combined with velocity it accurately predicts future revenues from marketing activities.
Weighted Pipeline
(efficiency)
@msweezey
Now take your average size deal and do the math:
(lets assume your average deal is 10k)
Stage Volume Velocity Efficiency WeightedValue
1 100 5days 70% (100x.7)x10,000
2 90 9days 77% (90x.77)x10,000
3 80 10days 88% (80x.88)x10,000
Sales 70 Total$2,097,000
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Weighted Pipeline shows:
Predictability: Every 24 Days you produce: 70 leads
Holistic View: All marketing activities even those of Good Will are account for in the measurement. Now if our marketing can increase each stage by 1% we have a 28% lift on the total value of the pipeline.
Objective Value: It puts our marketing in terms of revenue dollars which our business finds on objective value. The increase in any aspect of the pipeline is now translated into revenue.
Business Metrics: These are numbers your board can understand and valuations which help them make better decisions about how to run their business.
@msweezey
Relevance, Value, Trust, Agile, Mindset
New Era Creation
of
Of marketers say it takes 2-5 weeks to create a piece
of content.
42%Of marketers say it takes more than 7 weeks to create a piece of content.
1/3
1hEp://www.techvalidate.com/blog/2013-content-marke(ng-research-(me-spent-crea(ng-content-2892
@msweezey @msweezey
@msweezey
Creativity is no longer a singular genius, but an
iterative process
“ “ - David Weinberger, Author and Fellow at Harvard University
@msweezey
Agile Execution There are an infinitely growing number of marketing channels which require content. This brings about a new level of content we must produce. The only way to create enough content with a high enough success demands a new foundation on how we execute marketing campaigns. We must learn from other business departments who have faced similar issues.
@msweezey
Place your pin on the blue dot. Your goal will be to close your eyes
and then draw a straight line to the red dot. Stop when you get there.
Your line probably looks like this.
Now try again, but feel free to stop when ever you want. Leave
your pen on the paper, and open your eyes. Recalibrate, close your eyes then continue to draw your line. Take as many stops as you
want.
Your second line probably looks like this.
Increased Accuracy
High
N1 N2 N3 N4 N5 N6
Low
Translation: Each agile iteration will have a higher degree of accuracy than the previous iteration, yet you are likely to still have some failure in your next attempt. However the degree of failure will also decrease with each attempt.
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Lower Risk Exposure
High
N1 N2 N3 N4 N5 N6
Low
Translation: Each agile iteration of the content has a dramatically less likeliness for failure. Which means you are less likely to see consumers having bad experiences with your content.
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Capital One Goes Agile The 9th largest bank in the US has shifted their entire marketing department from the
top down into an agile frame work. Why? Because they have seen the power of it in their adoption of technology. They have “Burned the boats. There is no going back”
Agile Theory
Small and frequent iteration is the key to success when you operate in dynamic environments. Our marketing enjoinment is dynamic since our consumer, and channels are constantly changing. Technology also has now caught up to a place where instant iteration is possible.
User Stories
MVP
Review
Execute
@msweezey
User Stories
MVP
Review
Execute
User Stories
What is their role with the customer? What responsibilities do they have? What issues do they face? What do they want to learn?
@msweezey
User Stories
MVP
Review
Execute
M.V.P. Minimum Viable Product: What is smallest way you can provide value to your core consumer. This is your minimum viable product. Create this, then learn how to improve it.
@msweezey
User Stories
MVP
Review
Execute
Review It is good to have comparable metrics, but asking consumers directly is the best feedback you can have on how to improve your experiences. • Was the content you engaged with helpful? • How can it be better? • What was the best thing you’ve found? ASK @msweezey
Agile Math
What the math represents: FV = Future Value. This score you wish your content will reach in the future. On a scale from 1-10 if you want your score to be perfect this number would be 10, assuming 10 is the highest value.
CV = The current score your content is rated. X = Your x factor, or your ability to iterate on your previous version. i = The number of iterations it will take you to reach the goal
(FV-CV) - ((FV-CV)*X) = i
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Iteration Table
I’ve done the math for you!
Your “X” factor
Th
e P
V o
f th
e co
nte
nt
10% 20% 30% 40% 50% 60% 70% 80% 90%
1 8 7 6 5 5 4 3 2 12 7 6 6 5 4 3 2 2 13 6 6 5 4 4 3 2 1 14 5 5 4 4 3 2 2 1 15 5 4 4 3 3 2 2 1 16 4 3 3 2 2 2 1 1 07 3 2 2 2 2 1 1 1 08 2 2 1 1 1 1 1 0 09 1 1 1 1 1 0 0 0 010 0 0 0 0 0 0 0 0 0
@msweezey
John, I noticed an article on Content experience, and thought you might like to give it a look.
John, There is a video in our resource library on Lead nurturing best practices, here’s a link to it. It was recorded with Jay Baer.
John, I’m not sure if you follow this guy on social. But If you’re on Twitter you might want to check out @jaybaer. We’ve just shot a webinar..
Put it all together It doesn’t take 10 minutes to create this nurturing string. Test then make 3 more
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1. What were you looking for? 2. Did you find it? 3. How can we make this better?
What to ask during a review.
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Conclusion (& prediction)
The future of marketing is vastly different because buyers are different, and the ways we reach them are different. We must make strides to create scalable, sustainable, and valuable marketing systems. The future belongs to those who understand what is possible, why, and use modern media to build trusted relationships and valued experiences. Advertising alone will not get us there!
