4 E’s are the new 4 P’s

We have grown up with the Four Ps of Marketing: Product, Place, Price and Promotion. Do you know when the Four Ps of Marketing were invented? In 1960, by Jerome McCarthy. They were made leading-edge by Philip Kotler in his book Principles of Marketing in 1967.

The Four Ps thrived in a different world. It was a wonderful fantasy world. Marketers were king. Product differences lasted. Big, obedient audiences could be reached with big, efficient media.

What is the world of marketing today? The consumer has seized control. Audiences have shattered into fragments and slices. Product differences can last minutes, not years. The new ecosystem is millions and billions of unstructured one-to-one and peer-to-peer conversations.

Marketing is in the hot seat. So many of the tools and assumptions we grew up with are no longer valid. Many marketing leaders around the world got promoted into their jobs because they did two great product launches and three great TV campaigns, and figured out how to work with a few major retailers.

According to a recent study by Spencer Stuart, the average tenure of a CMO is less than 24 months. And only 14 percent of CMOs have been in their positions with the same company for more than three years. A CMO Council 2007 report concludes that only one-third of board members are satisfied that their marketing leaders can explain the ROI of marketing.

We need a new framework. And a new tool kit. For starters, we need to throw away the Four Ps and embrace the Four Es:

(Website) Experience Over Product

Consumers today are more focused on the experience they have with a business rather than the product features. The amount of data available to you today makes it easier to see what buyers want. By harnessing your website’s analytics, you get a better understanding of your customer’s journey.

When looking at your analytics, start by considering how people view your business on different devices. For example, do your customers have a good experience on their mobile devices?

The goal is to give a consistent and enjoyable experience across all platforms from mobile and social to your website. The experience they have with your brand should be the same no matter where they find you.

Everyplace (Online) Over Place

People spend a long time researching products online before they buy. Positioning your business in everyplace keeps you front of mind.

Consumers’ needs change depending on when they find you online, and how they access you. Google makes it so that every page on your website is accessed just like your homepage. When your customers can find you everyplace they look, you get more conversions because it is easy for people to find you.

Exchange Over Price

What your website offers is not always something tangible. Sometimes, you ask for your website visitor to engage with you on a different level than making a purchase. Perhaps your goal is for them to download a whitepaper or report. Perhaps you want them to sign up for your newsletter. No matter what you’re trying to get them to do, you need to earn their trust. This way, they’ll feel comfortable exchanging their coveted information, such as their credit card number or email address.

Evangelism Over Promotion

With social media, you have the opportunity to turn your customers into evangelists. To do this, you need to give them a reason to share what you offer. This means you have to promote evangelism over your products.

Start a conversation with your followers and fans and give them a reason to talk about you. The more reasons they have to spread the word about your business, the more evangelists you’ll have on your side.

Many businesses have had tremendous success just by making these changes. Have you put any of these 4 Es into practice in your marketing?

Hope this gives you all some new perspective about marketing your products and inspires you to think out of the box, just the way the article inspired me.

Sources:

‘The days of the 4 Ps are over’, head of Universal Music Group tells marketers

Shifting from the 4Ps to the 4Es of Product Marketing

Bye-bye 4Ps, Hello 4Es: Four ways in which marketing has changed in this century

The 4Ps Are Out, the 4Es Are In

 

 

 

 

 

 

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Coca Cola Liquid Linked Campaign for Olympics 2016

Coca-Cola’s campaign for this year’s Olympics has both these qualities, hitting on emotional, inspirational, and aspirational sweet spots for consumers. The campaign uses footage of more than 70 athletes from all over the world, across a wide variety of sports. Short snippets of the ad are being used for the brand’s digital media platforms.

1.pngOn Twitter alone (@CocaCola), in the first week since the Games began, the brand has reached over 31 million consumers, with over 105 million potential impressions. Here is how Coca-Cola is deploying its liquid, linked campaign on Facebook, Twitter, and Instagram.

1. Being Human and NOT Selling the Drink – Both pieces of creative from screen-shot-2016-11-10-at-1-55-08-pmCoca-Cola for this year’s Olympics–the hashtag #thatsgold and the ad tagline “Together is Beautiful”–promote optimism and inclusion. These values are core to Coca-Cola. They do not ask consumers to buy a drink at any point, but instead put celebration, achievement, and togetherness on display, irrespective of religion and race.

This resonates with consumers, as well. The #thatsgold hashtag garnered close to 4,000 mentions on Twitter alone in the first week of the Games, with many consumers tagging important moments of their lives with #thatsgold.

2. Creating Timely Content to Capture Euphoria– Coca-Cola has a strong understanding of its consumers. They know that people don’t just want to be spectators; people want to be able to engage. That’s why Coca-Cola has been publishing content in almost real time to commemorate what is happening at the Games. This facilitates a connection between the brand and its consumers in the very moment of excitement and happiness. Coca-Cola’s posts do not just congratulate athletes and teams–they create content that drives engagement around the event, as well.3.png

3. Consistent Messaging– Coca-Cola did not just come up with the hashtag #thatsgold–they backed it up with a visually stunning physical activation, which includes Coca-Cola in commemorative gold aluminum bottles (sold in limited edition) and the golden logo with the Olympics rings across their social media channels to tie the message together.

screen-shot-2016-11-10-at-1-55-58-pm4. Creating Diverse Collateral for a Wider Audience– Coca-Cola has been creating various content–GIFs, videos, surveys, photos, and creative illustrations–in order to make sure their messaging is relevant and tailored to the audience they are targeting. Videos from the brand have generated the most engagement of any content type, driving over 58% of engagement across all channels.

screen-shot-2016-11-10-at-1-56-29-pm

How This Strategy Is Working for Coca-Cola on Social Networks?

While the brand has been posting most on Twitter and has consistently been able to engage with its audience, Instagram is the platform where Coca-Cola’s audience has been engaging most per post, followed by Facebook*.

What Type of Content is Working?

4.pngAs mentioned above, Instagram is the most engaging platform for Coca-Cola. The brand’s consumers engage most with posts that include photos and videos. A majority of Coca-Cola’s content on Twitter has been plain Tweets, but few Tweets that the brand released with photos generated much engagement. On Facebook and Instagram, video content was most engaging.

And the Audience?

Coca-Cola activated #thatsgold in July and re-aired the ad “Together Is Beautiful” during NBC’s televised coverage of the Opening Ceremonies of the Rio Olympics. In the week before the Olympics, Coca-Cola’s messaging was already resonating with consumers online, driving high engagement on social media (daily engagement was up 37.6% in the week before the Games). In the first week after the Games began, Coca-Cola has seen an uptick in audience engagement per post across Facebook, Instagram, and Twitter.

5.pngCoca-Cola is doing a great job connecting with and growing its audience on social media. In our earlier post about Coca-Cola’s social media strategy, we learned the primary tactics that the brand uses to connect with its audience.

Coca-Cola’s Olympics campaign applies most of those tactics and has gotten even more creative to remain relevant to its current audience of over 17.3 million on Facebook (US), Twitter, and Instagram, making it one of the most valuable brands in the world.

Original Source

Content Marketing Framework For An Effective ROI

There is a plethora of information available online on how content marketing can be strategized and implemented. Based on my research and experience of working with some of the top brands globally, this is my proposed framework to align the content marketing strategy with specific and tangible business objectives to derive an effective ROI.

For each of these commandments, I have showcased the best examples, that will give an idea on what kind of content and the required tonality and treatment can be created.

Commandments of Content Marketing1. BRAND BUILDING: Create engaging and aspirational content

2. PROMOTING PRODUCTS: Creating interesting brand stories, leading to demand while building co-relation with one’s personality.

3. CREATING INTERESTING STORIES: People remember stories more than brands, the main reason why brands are becoming content publishers and storytellers.

4. CREATE UNIQUE SHOPPING EXPERIENCES: To make the shopping experience a memorable and interesting experience.

5. EXPERIENCE ECONOMY (PHYGITAL): Creating the digital content from the physical/real world.

6. CO-CREATE CONTENT: Engage with audience and influencers to co-create content

7. EXCLUSIVELY EXCLUSIVE: Somethings’ aren’t bought, they are earned.

8. OMNICHANNEL CONTENT: Content for the audience in this digitally enabled ecosystem giving them a compelling reason to visit the stores.

Look forward to your thoughts.

Watch this space for the next on “Calculating the ROI of Content Marketing”

How Customer Retention is Eclipsing Acquisition in the World of Mobile Marketing

How Customer Retention is Eclipsing Acquisition in the World of Mobile MarketingSome people approach marketing like a popularity contest: the more people who subscribe to your company’s SMS coupon list or like your Facebook page the better. The problem with that is a simple one concerning quality over quantity. What good is it having 1000 “friends” when none of them have any interest in what you have to say?

Cultivating a small circle of close friends can often be more fulfilling than hundreds of mere acquaintances, and it’s the same with potential and existing customers. In the world of mobile marketing there’s a constant battle between acquisition and retention, and there are 5 very important reasons why retention is winning.

The Monetary Cost of Acquisition

calculate-cost-of-customer-acquisitionYou might be bootstrapping your business and in need of some low-budget marketing strategies or perhaps you’re flush with cash but hoping to stay that way by not blowing dough on unnecessary marketing ploys. Either way, you’ll want to read this: depending on the source, it costs somewhere between 4 and 10 times as much money to acquire a brand new customer than to retain a customer you already have, and some experts insist that estimate is a very conservative one.

The Time Factor

digital-media-strategyIn the past few years the process of planning out a digital media strategy has completely changed.

Think about what you have to do to attract and convert a new customer:

  1. Find them out there in the mobile/online ether
  2. Fight through the digital dissonance to be heard above your competitors
  3. Introduce them to your brand
  4. Convince them your business is of value
  5. Sell them on your product or service
  6. Help them complete the purchasing cycle (is your m-commerce channel intuitive and streamlined?)
  7. Use content marketing and various forms of mobile engagement to keep them coming back for more

It’s a complicated process, but it’s 100 percent worth it if it puts money in your pocket and the cost-profit ratio is reasonable. But consider this: when you’re selling something new to an existing customer, you’re basically skipping to the fifth step, and the whole convincing part is typically a lot easier because you’ve already built up buyer confidence and perhaps even a sense of loyalty.

Putting it into Practice

Putting it into PracticeThe things that affect the efficacy of the individual components of mobile marketing also typically affect the whole.

A recent piece about the 5 important things that can impede email delivery (not in the technical sense but rather in regards to open rates and actually reaching and converting consumers) outlines it all beautifully:

  • Be consistent in your message, how you post on social media, and how you treat your customers
  • Embrace quality over quantity (there are those words again!) and maintain the high standard you set for yourself
  • Remember the importance of proper formatting, including ditching memory-killing graphics and videos and incorporating responsive design
  • Build a reputation and make it mean something. Your brand is not just a logo and color scheme, it’s how you’re perceived and what everything about your business stands for from your blog to your products to your charitable endeavors
  • Pay attention to absolutely everything, including what your customers are saying about your product or service – and remember that complaints can be even more valuable than compliments

Eighty-nine percent of companies surveyed said they believe customer experience is a key factor in increasing customer loyalty and retention. It really is about the whole package; you can offer discounts and implement flashy websites and give out free content every Friday, but if it doesn’t all come together in a customer-friendly way none of it really matters.

Experts estimate that mobile advertising will account for a whopping 72 percent of digital ad spend in the United States by 2019.

How you spend your portion of that money is up to you, but the smart bet is – and will likely always be – on customer retention.

What’s Next?

What do you think of what I’ve covered so far? Will you adopt mobile as your tool for marketing? I would love to read your comments below.

Contributing Author: Sophorn Chhay

Sophorn is the marketing guy at Trumpia, the most complete SMS software with mass text messaging, smart targeting and automation. Follow Sophorn on Twitter(@Trumpia), LinkedIn, Facebook and Google+

E-Commerce: Relevant content connects Purpose to Purchase

AAEAAQAAAAAAAAOvAAAAJDcxN2EyYTMxLThjNjEtNDNiZS04OGZjLWNlZjFkNTEwZDkzZgWhether consumers shop online or offline – or both – is totally at their discretion. They could either be “webrooming” (researching products online before making an offline purchase) or “showrooming” (viewing products in a store, but purchasing online after research). Integration of digital devices and offline retail is happening right from product awareness, research, discussion to product consideration and even advocacy. And with social platforms poised to become the next e-shops, the path to purchase is going to become more complex and intense.

In this crowded competitive landscape, e-commerce brands are aggressively using all possible media touch points to be in front of and engage with their target consumers on a 24/7 basis. The usual focus in this interaction is the product. But the context has to be larger than just the product to connect the target audience with the brand. A meaningful and purposeful connection between brand and consumer depends on relevant content.

Consumers engage only with content that is personally relevant to them, their purpose and their passions. E-commerce players like Myntra, Jabong, and American Swan, for example, are already engaging with their consumers about fashion by creating look-books, blogger events, fashion shows and celebrity associations. This new consumer desire for relevant content has implications on their purchasing behaviour. In this era of Omnichannel retailing and more evolved consumers, the path to purpose — the connection the consumer makes with a brand and its personality as a result of an effective content marketing approach — is being seen as the next step of the traditional path to purchase.

(Originally published in Brandz Top 50, Most Valuable Indian Brands 2015 by Millward Brown and WPP)

Tata crowd-sources Tweets to create #SafariTrails video and song

Tata crowd-sources Tweets to create #SafariTrails video and song Tata Motors has launched a video campaign that has been completely crowd-sourced by compiling videos, tweets and pictures received via Twitter from off-road adventure lovers and Safari aficionados across the country.

Called the Tata #SafariTrails My Day My Way song, the music for the video has been made by Culture Machine along with artistes like Vasudha Sharma, Gaurav Dagaonkar and Sidd Coutto.

Calling it a campaign ‘by the people, of the people and for the people’, Culture Machine experimented with different avenues of storytelling for #SafariTrails by combining the videos and pictures sourced from consumers via Twitter with lyrical couplets. Digitas LBI, the digital agency for Tata Motors, had also collaborated with Culture Machine.

Twitter was the chosen platform for crowd-sourcing, while the Tata Safari Facebook page also shared about the crowd-sourcing activity with its 1.3 million fans. Towards the end of last month, Tata Safari asked its followers on Twitter to share their desired lyrics with images or videos of memorable Safari adventures they’ve been on. These tweets needed to be accompanied with the hashtag #SafariTrails and also had to be the most re-tweeted.

Check the Tata #SafariTrails My Day My Way song here

Read the complete story here: http://goo.gl/UuSoZQ

#Cannes2014 Winners from APAC

From Asia Pacific, where over 60 pieces of work had made it to the shortlist, 19 walk away with a Lion. There are three Gold Media Lions – two of which are taken by PHD India’s work ‘Kan Khajura Tesan’, done for Hindustan Unilever.

PHD India’s Kankhajura Campaign for Hindustan Unilever (HUL)

List of winners from APAC

Title Advertiser Entrant / Agency Prize 
Happy Id The Coca-Cola Company McCann Lima Grand Prix
Kan Khajura Tesan Hindustan Unilever PHD India / Lowe Lintas Gold Lion
Bank Job Brothers In Arms FCB New Zealand Gold Lion
Kan Khajura Tesan Hindustan Unilever PHD India / Lowe Lintas Gold Lion
The Smart Phone Line Samsung New Zealand Colenso BBDO Auckland Silver  Lion
Pocari Music Player Otsuka Pharmaceutical Dentsu Tokyo Bronze Lion
Rice-Code Inakadate Village Hakuhodo Tokyo Bronze Lion
Aussie Builders Mars Australia Clemenger BBDO Melbourne Bronze Lion
Dupe Yarra Valley Water Ogilvy Melbourne Bronze Lion
Banana Republic Banana Republic Iris Worldwide Indonesia Bronze Lion
Animal Strike Paw Justice DDB Group New Zealand Bronze Lion
Message Barter The Akanksha Foundation Ogilvy & Mather India Bronze Lion
Safe Driving Program Samsung Leo Burnett Sydney Bronze Lion
The Bottled Walkman Sony New Zealand FCB New Zealand Bronze Lion
Anz Gaytms Anz Whybin\Tbwa Group Melbourne Bronze Lion
Movie Emoji Singtel Ogilvy & Mather Singapore Bronze Lion
I See Fries Mcdonalds DDB Sydney Bronze Lion
Banana Republic Banana Republic Iris Worldwide Indonesia Bronze Lion
Dupe Yarra Valley Water Ogilvy Melbourne Bronze Lion
The Smart Phone Line Samsung New Zealand Colenso BBDO Auckland Bronze Lion