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Sanjay Mehta
Digital Marketing Webinar
Changing Role Of Marketing: New
Challenges & Opportunities
Aug 8, 2014 | Sanjay Mehta (Jt. CEO, Social Wavelength)
www.digitalvidya.com
Sanjay Mehta
Three key thoughts for Marketing
1. CHALLENGES OF TRADITIONAL MARKETING
2. NEW WAY: MARKETERS NEED TO LISTEN UP
3. THE NEW MARKETING MODEL, AND THE
CHANGING ROLE OF THE MARKETER
Sanjay Mehta
• You have a product or service to sell – you need to market – you
need to reach your prospect with your communication
• Traditional ways have been advertising, direct marketing, PR, etc.
• More specifically, print advertising, TV ads ($$), hoardings
• PR largely meant, building relationships with journalists
• Direct Marketing: Emails (spams?!), telemarketing (how we hate
those?!) and mailers (junk?)
• Would need budgets and yet, not very effective in changing times
• Even so, many companies use these and are dependent on these
Sanjay Mehta
First the e s usi ess, the the usi
business, then advertising. Is there any
i dustry that I get i ol ed i that does ’t
get destroyed y digital te h ology?
- Andy Nibley, who has led Reuters,
Universal Music and ad agency, Marsteller
Sanjay Mehta
• Digital Te h allo s lie t s ulti ate fa tasy, usto ize spe ifi
essage to the spe ifi o su er, at the spe ifi o e t
• It s also a arketer s ight are
• The iro y is that hile there e er ha e ee ore ays to rea h
o su ers, it s e er ee harder to o e t ith o su ers!
• Death of mass marketing is death of lazy marketing
• 200 Old Spice videos made in 48 hours; more work for less money
• Controlled, one-way message is now a dialogue with millions
• The power of the advertiser is rivaled now, by user influence
Sanjay Mehta
• Brands choosing to work with specialist digital, PR, social media
age ies, rather tha ge eralists: looki g for the right skills
• Tech challenges to what was once considered an expensive art
form, e.g. creating a video (< $2K) or media planning (web ads?!)
• Creativity is not that exclusive – how about crowdsourcing ideas?!
• Kraft orked ith Ge ius‘o ket for o e of it s ra ds:
– Against millions to agencies for one spot, got 7 spots for $40,000
– Also syndicated to web platforms for tracking, testing, sentiment analysis
– For agency to be cutting edge, high overheads; GeniusRocket is a lean team
Sanjay Mehta
Why are so a y arketi g a paig s ra d-destroyers and
money-losers? Why is ra di g e o i g a de alued asset, hose
retur s are d i dli g it ess Google uildi g the orld s ightiest
brand with barely a penny of orthodox marketing expenditure)? Why
do people and communities exact steeper and steeper discounts,
price-cuts, and margin-crushing concessions from the beleaguered,
besieged companies once known as the masters of the universe?
The half-life of companies is shrinking and the weary practice known
as arketi g, addi g little to o real alue, see s po erless to
help.
A strong condemnation of marketing as it stands today, by UmairHaque (HBR)
Sanjay Mehta
• A out pushi g produ ts do
• Already o erstuffed gullets of o su ers
• By targeti g essages pa ked ith i agi ary e efits
• I gra d a paig s that ake o er lo pro ises
• “ee this eer? It s goi g to la d you a girl of your drea s!
• Curre t arketi g is a out talki g dow to your usto er
Sanjay Mehta
What Listening Up is NOT:
• Stalking your customers to find their moments of weakness
• Focus groups and differentiation
• Data mining and then some more!
• The UP is important: having dialogues about what really betters
lives of people, their standards of living, and then finding real
ways to make it happen for them
Sanjay Mehta
• Genuine talk with customers – not just about their wants and
needs, but also about their hopes, fears, opportunities, threats,
achievements, regrets; find ways to give long term fulfillment
• Empowering more people in organization to talk to customers, not
just the powerless cashier or customer service rep; org change!
• Letting your critics rip at you – and listening to them; empowering
people to be heard, instead of shouting them out
• Investing not just in market research, but in people
• Asking questions that matter – and being tough to face the music
Sanjay Mehta
New Model, New Role
Sanjay Mehta
Sanjay Mehta
CONSIDER
EVALUATE
BUY
ENJOY
ADVOCATE
BOND
THE LOYALTY LOOP
Sanjay Mehta
CONSIDER
EVALUATE
BUY
BOND
Allocations not just about media (TV/Print/Radio etc) but about consumer touch points!
Pro ide for o - ork udgets like reati g, o itori g o ed a d ear ed edia spa es!
Sanjay Mehta
Marketer as the Orchestrator: in charge of all Owned Media – in addition to
traditional and digital marketing, also manage customer service, product
literature design, product registration, warranty programs, etc.
Marketer as publisher, content supply chain manager: Tons of content being
produced by brands and for brands – owned and earned media; marketing to
take charge
Marketplace Intelligence Leader: From Google Analytics to Social Media
Mo itori g data, the i sights ust reside ith arketi g hat the
usto er says / does, et .
Sanjay Mehta
THANK YOU
Sanjay Mehta
Joint CEO, Social Wavelength
smehta@socialwavelength.com +91-98200-40918 @sm63
Acknowledgements:
The Future of Advertising – Danielle Sachs
Marketing Can Do Better – Umair Haque
Branding in the Digital Age – David Edelman (HBR)
Sanjay Mehtawww.digitalvidya.com
Found It Useful?
Join upcoming Digital Marketing Webinar live!
http://www.digitalvidya.com/webinars/

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Changing Role Of Marketing: New Challenges & Opportunities

  • 1. Sanjay Mehta Digital Marketing Webinar Changing Role Of Marketing: New Challenges & Opportunities Aug 8, 2014 | Sanjay Mehta (Jt. CEO, Social Wavelength) www.digitalvidya.com
  • 2. Sanjay Mehta Three key thoughts for Marketing 1. CHALLENGES OF TRADITIONAL MARKETING 2. NEW WAY: MARKETERS NEED TO LISTEN UP 3. THE NEW MARKETING MODEL, AND THE CHANGING ROLE OF THE MARKETER
  • 3. Sanjay Mehta • You have a product or service to sell – you need to market – you need to reach your prospect with your communication • Traditional ways have been advertising, direct marketing, PR, etc. • More specifically, print advertising, TV ads ($$), hoardings • PR largely meant, building relationships with journalists • Direct Marketing: Emails (spams?!), telemarketing (how we hate those?!) and mailers (junk?) • Would need budgets and yet, not very effective in changing times • Even so, many companies use these and are dependent on these
  • 4. Sanjay Mehta First the e s usi ess, the the usi business, then advertising. Is there any i dustry that I get i ol ed i that does ’t get destroyed y digital te h ology? - Andy Nibley, who has led Reuters, Universal Music and ad agency, Marsteller
  • 5. Sanjay Mehta • Digital Te h allo s lie t s ulti ate fa tasy, usto ize spe ifi essage to the spe ifi o su er, at the spe ifi o e t • It s also a arketer s ight are • The iro y is that hile there e er ha e ee ore ays to rea h o su ers, it s e er ee harder to o e t ith o su ers! • Death of mass marketing is death of lazy marketing • 200 Old Spice videos made in 48 hours; more work for less money • Controlled, one-way message is now a dialogue with millions • The power of the advertiser is rivaled now, by user influence
  • 6. Sanjay Mehta • Brands choosing to work with specialist digital, PR, social media age ies, rather tha ge eralists: looki g for the right skills • Tech challenges to what was once considered an expensive art form, e.g. creating a video (< $2K) or media planning (web ads?!) • Creativity is not that exclusive – how about crowdsourcing ideas?! • Kraft orked ith Ge ius‘o ket for o e of it s ra ds: – Against millions to agencies for one spot, got 7 spots for $40,000 – Also syndicated to web platforms for tracking, testing, sentiment analysis – For agency to be cutting edge, high overheads; GeniusRocket is a lean team
  • 7. Sanjay Mehta Why are so a y arketi g a paig s ra d-destroyers and money-losers? Why is ra di g e o i g a de alued asset, hose retur s are d i dli g it ess Google uildi g the orld s ightiest brand with barely a penny of orthodox marketing expenditure)? Why do people and communities exact steeper and steeper discounts, price-cuts, and margin-crushing concessions from the beleaguered, besieged companies once known as the masters of the universe? The half-life of companies is shrinking and the weary practice known as arketi g, addi g little to o real alue, see s po erless to help. A strong condemnation of marketing as it stands today, by UmairHaque (HBR)
  • 8. Sanjay Mehta • A out pushi g produ ts do • Already o erstuffed gullets of o su ers • By targeti g essages pa ked ith i agi ary e efits • I gra d a paig s that ake o er lo pro ises • “ee this eer? It s goi g to la d you a girl of your drea s! • Curre t arketi g is a out talki g dow to your usto er
  • 9. Sanjay Mehta What Listening Up is NOT: • Stalking your customers to find their moments of weakness • Focus groups and differentiation • Data mining and then some more! • The UP is important: having dialogues about what really betters lives of people, their standards of living, and then finding real ways to make it happen for them
  • 10. Sanjay Mehta • Genuine talk with customers – not just about their wants and needs, but also about their hopes, fears, opportunities, threats, achievements, regrets; find ways to give long term fulfillment • Empowering more people in organization to talk to customers, not just the powerless cashier or customer service rep; org change! • Letting your critics rip at you – and listening to them; empowering people to be heard, instead of shouting them out • Investing not just in market research, but in people • Asking questions that matter – and being tough to face the music
  • 14. Sanjay Mehta CONSIDER EVALUATE BUY BOND Allocations not just about media (TV/Print/Radio etc) but about consumer touch points! Pro ide for o - ork udgets like reati g, o itori g o ed a d ear ed edia spa es!
  • 15. Sanjay Mehta Marketer as the Orchestrator: in charge of all Owned Media – in addition to traditional and digital marketing, also manage customer service, product literature design, product registration, warranty programs, etc. Marketer as publisher, content supply chain manager: Tons of content being produced by brands and for brands – owned and earned media; marketing to take charge Marketplace Intelligence Leader: From Google Analytics to Social Media Mo itori g data, the i sights ust reside ith arketi g hat the usto er says / does, et .
  • 16. Sanjay Mehta THANK YOU Sanjay Mehta Joint CEO, Social Wavelength smehta@socialwavelength.com +91-98200-40918 @sm63 Acknowledgements: The Future of Advertising – Danielle Sachs Marketing Can Do Better – Umair Haque Branding in the Digital Age – David Edelman (HBR)
  • 17. Sanjay Mehtawww.digitalvidya.com Found It Useful? Join upcoming Digital Marketing Webinar live! http://www.digitalvidya.com/webinars/