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Until recently, the development of marketing technologies has occurred at a high enough pace to preclude a new definition of marketing.
But now, we feel the new discipline can be defined in broad terms, with digital pervading pretty much everything you do as marketers.
Next week the Festival of Marketing debuts in the city of London, with conferences, events and parties all hung off the core tenets of Econsultancy’s Modern Marketing Manifesto. At the festival we'll add the detail to the manifesto. Which brands are doing precisely what? And is it working? How have benchmarks moved?
If you haven’t seen the festival line-up, check out the website, and if you haven’t read our manifesto, check that out, too. We’ve had great feedback on our new definition of marketing, with many of you ‘signing’ in agreement by commenting on this post.
As part of this search for feedback, we recently surveyed around 700 Econsultancy users and assayed what level of agreement they show with the ‘pillars’ of the manifesto.
Although we had already incorporated your opinions into our draft, we wanted to find out how precisely the final treatise hits the nail on the head, or if indeed we’ve missed the nail and struck a thumb.
Gone are the days of waiting in a queue in a branch or on the phone to talk to your bank.
Today, customers are able to quickly raise their issues through social media, and it has become an important method for banks to build relationships with their customers and to reach a younger audience.
As is true for success in any business, it is important to be where your customers are, and future banking customers are online.
So how are the UK’s biggest banks using social media?
Marketing automation solutions alone cannot get you the marketing performance transformation you’re hoping for - you need to get the company culture and skills aligned with it for true success.
To find out how you can do that, read the next in this this two-part blog post series.
In part one, I looked at the skills required to implement marketing automation software and why a transformation on a cultural level needs to occur before any system can be successfully implemented. Here i explain the next steps in that process.
You probably practice a lot of different types of marketing (or you would like to). But what if it didn't matter? What if, deep down, all marketing was really the same, driving towards a singular objective: establishing relationships.
The problem is, in our ever-shifting digital world, people have different relationship needs. Some want information, others want engagement. And when you deliver the right content to the right person based on their relationship needs, you create a positive experience with your brand.
Yeah, every marketer wants that. But how do you do it?
You get away from running static, campaign-based marketing to being liquid. When your marketing efforts are truly liquid you'll be able to create dynamic campaigns that shift and change to meet different relationship needs in real-time.
Ask the question your competitors aren’t: 'what would my customer expect?'
Today’s consumer is fickle and expects the world. Now. Whether looking to purchase a safe new car, a coat for the winter or plane tickets for a weekend getaway, each individual or business customer has a unique process to identify the right product and a long list of demands the delivering brand needs to meet to make the sale.
These include offer value, trust, best price, easy purchasing experience, customer service, and engagement with relevance. And the list could go on.
For a company to be on the top of the consumer’s purchasing list, or at least in the short list of contenders, it needs to understand every aspect of the consumer and establish a comprehensive commerce strategy that will give the consumer not only what they want but what they expect. Now.
Everyone thinks content marketing is the only way to win a market.
Here's a little story that might disprove that.
I hate naming names, but there’s a company out there which just doesn’t get content marketing.
It’s a big tech company with excellent products. But it hasn’t yet figured out that people really don’t care about products.
Mobile marketing involves much more than big budgets and a mobile-optimised website.
In particular, as social and location intelligence technologies mature, integrating marketing data from these sources in to the mobile marketing mix becomes incredibly important.
As brands build the sophistication of their mobile marketing efforts, there are three things brands should focus on getting right.
The more digital we become (define and measure that how you will), the more advantage we can gain from being ‘human’ in our communications and sales approach.
As community and privacy is eroded, social skills and the ability to network become high-value attributes, where once they may have been called soft skills.
Fans of feel-good 90s movies will recall Meg Ryan’s valiant but doomed struggle to save her corner bookstore from Tom Hanks’s big box rival.
Ecommerce niche sites have found themselves in a similar drama, battling to hold their place in the market and the SERPs against mammoth retailers like Amazon, Staples, and Walmart.
While these larger sites certainly have both marketing and SEO advantages: fast delivery, aggressive pricing, enormous SEO budgets, big brand preference from Google, an easier time adding or removing links, it’s important for niche site marketers to recognize that, in certain aspects, they can have an edge.
I recently read a great article by Ashley Friedlein, ‘Why a Chief Digital Officer is a bad idea’. While I completely respect his opinion, I do disagree.
Ashley Friedlein is the CEO and Co-founder of Econsultancy. He is a great author, highly successful entrepreneur and digital catalyst.
I have enjoyed much of his ideas, knowledge and rhetoric. I was prompted to be a signatory on his ‘Modern Marketing Manifesto’, and I encourage all digital enthusiasts to do the same.
A rebranding exercise is an exciting project for any company. But it will present challenges too, not least because the process, from concept to roll-out, can take months if not years to implement.
The value that your brand represents to your overall company value can be as much as 15%, and in the case of a business like Coca-Cola, that figure is 50%. Getting a rebrand implemented smoothly and accurately, therefore, can have a massive impact on your business.
In my experience, success is most accurately measured by the implementation phase of a rebrand. In my early career at various branding agencies, I frequently saw branding projects lose momentum, strength and vitality in the implementation stage – because the process was, to put it bluntly, chaotic.
Implementation can cost as much as 20 times the price of brand design. If you pay £100,000 for the design phase, you’ll pay £2m for the roll-out. And, if you don’t get it right, you are going to see a disappointing return on investment.
So I offer the following as the five strategic actions that, in my view, come together in assuring a successful rebrand.