Insight Presentation: “Reimagining Marketing Innovation”
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1. The document discusses how marketing frameworks have evolved from the traditional 4 P's (product, price, place, promotion) to new models like PEER (personalize, enable, enhance, reward) to account for changes in technology and consumer behavior. 2. New technologies like mobile, social media, location services, and digital signals are transforming the consumer experience by reducing friction. This raises the bar for companies. 3. PEER strategies focus on attracting customers, enabling them to accomplish their goals, and enhancing their experience through personalization, rewards, and other approaches.
Insight Presentation: “Reimagining Marketing Innovation”
- 1. 1 www.immr.org 1 (770) 612-1488 phil.hendrix@immr.org | @phil_hendrix Presented at iMedia Breakthrough Summit – Atlanta, GA Oct. 27, 2014 Dr. Phil Hendrix Director, immr and Analyst, Gigaom Research www.immr.org/reimagining-marketing.pdf Reimagining Marketing – From the 4 P’s to PEER and Beyond
- 2. 2 TOPICS Origins Frameworks Technologies What’s Changed? Takeaways Slides can be downloaded at www.immr.org
- 3. 3 Origins The 4 P’s
- 4. 4 Origins of the Marketing Mix The 4 P’s Still Relevant? Prof. Jerome McCarthy 1960
- 5. 5 Critiques of the 4 P’s What’s Wrong with the 4 P’s? Beyond the 4Ps: A New Marketing Paradigm Emerges Revising the New Definition of Marketing Prof. Jerry Wind, Wharton Prof. Jag Sheth, Emory
- 6. 6 Remixing the 4 P’s Filling Holes and Extensions The 7 P’s (Booms and Bitner) Process People Physical Evidence The 4 C’s (Lauterborn) Customer value Customer cost Convenience Customer Communications The 4 A’s (Sheth) Awareness Acceptability Affordability Access The 4 E’s Experience Everyplace Exchange Evangelism
- 7. 7 Variations Proliferating Progress? or Tower of Babel? Content Marketing Shopper Marketing Search Engine Marketing Growth Hacking Mobile Marketing Agile Marketing
- 9. 9 Consumer Behavior What Consumers Do Find Choose Buy Use What Hasn’t Changed?
- 10. 10 Consumer Experience FRICTIONLESS Experiences …. Achieve Goals Informed Learn Decide Resolve Maximize Minimize Frictions Uncertainty Problems Annoyances Risk Effective Easy Enjoyable Rewarding Costs WHAT CONSUMERS WANT
- 11. 11 Consumers’ Experience What’s Changed? Digital Mobile Social Technology
- 12. 12 How Should Brands Leverage Beacons? CASE STUDY - BEACONS Cooler Entrance Clinic Shelf End cap
- 13. 13 Shopping Transformed CONSUMER BEHAVIORS What’s Changing?
- 14. 14 Digital Shelf – Extends Retailers’/Brands’ Presence THE DIGITAL SHELF Source: Why the Digital Shelf is Vital for Brands and Retailers, Dr. Phil Hendrix, immr
- 15. 15 Mobile Devices – Made for Shopping, Sharing MOBILE DEVICES Source: Democratizing the Shoppable Web, Dr. Phil Hendrix, immr
- 16. 16 Mobile Shopping Apps – Proliferating MOBILE SHOPPING APPS Source: Democratizing the Shoppable Web, Dr. Phil Hendrix, immr Categories of Shopping Apps Retailer Apps Marketplace Apps Search Engines Comparison Shopping Apps Specialty Shopping Apps Local and Location-based Apps Deal and Coupon Apps Loyalty and Reward Apps Shopping Tools
- 17. 17 Order Pay CONSUMER BEHAVIORS Search 50 million products 500,000 stores Share
- 18. 18 Social Amplifies What’s Changing? CONSUMER BEHAVIORS
- 19. 19 Social – Disney Leveraging Communities I'll be going to Disney World Dec 2014. I have two autistic kids and two other kids. I'm worried about the new system for special needs. Neither of my special needs kids can stand in line and one of them can't handle loud noises. What should I expect? Hi Casie! Being the Mom of a son with special needs, I understand your concerns. Disney World is a great place to visit for Guests with special needs including those with Cognitive Disabilities. They have put together A Resource for Guests with... read more Source: http://disneyworldforum.disney.go.com/home.aspx CASE STUDY
- 20. 20 What’s Changing? Gartner Hype Cycle for Marketing Source: Gartner, July 2014
- 21. 21 What Is Changing? Marketing Technology Landscape ChiefMarTec Source: Scott Brinker, Jan. 2014
- 22. 22 Technologies Mobile Social Location Sensors Digital Signals Big Data
- 23. 23 Mobile – The New “Remote” in Consumers’ Lives Then… Now…
- 24. 24 Wrobleski’s Theorem “Everything that can be connected to the Internet, will be” Speech Recognition Image Recognition Source: recognize.im Beacons Sensors Real-time Interactions and Feedback
- 25. 25 Location and Context – From Macro to Micro Macro- Location Micro- Location Source: 8 Layers of Location, Dr. Phil Hendrix, immr 8 LAYERS OF LOCATION
- 26. 26 Strategies x Location Layer Source: 8 Layers of Location, Dr. Phil Hendrix, immr EXAMPLES OF LOCATION-BASED STRATEGIES
- 27. 27 Digital Signals – Growing Exponentially Source: Tuning into Consumers’ Digital Signals, Dr. Phil Hendrix, immr
- 28. 28 Digital Signals – Indispensable Source: Tuning into Consumers’ Digital Signals, Dr. Phil Hendrix, immr
- 29. 29 Cloud – Big Data + Analytics Algorithms/ Analytics Transactions Events History Big Data Context
- 30. 30 Data + Real-time Personalization What I (Don’t) Like Who I am… Where I am What’s Nearby What’s going On What I respond to What I’ve bought Where I’ve been What I need Where I’m going
- 31. 31 Mobile – Localizing Ads with Dynamic Creative EXAMPLE
- 32. 32 Manufacturers’ Sales and Installation Coca-Cola Enterprises Which Cooler is Cooler Source: http://merlinmobility.com/
- 33. 33 Frameworks
- 34. 34 Attract + Enable + Enhance Help customers accomplish their goals Build enduring relationships by enhancing customers’ experience Verb en•gage /enˈgaj/ ENGAGEMENT
- 35. 35 Learn† & Adapt Remove Frictions Surprise/ Delight Reinforce Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr PEER STRATEGIES †Securely, with full transparency
- 36. 36 Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix, immr Personalize Leverage data about consumers and their context to increase the relevance, timeliness and value of communications, offers and customer experiences Enable Help customers complete tasks and accomplish their goals by minimizing the risk, time, and effort as they shop, compare, purchase and use products Enhance Surprise and delight customers by anticipating and helping them fulfill functional requirements, emotional needs and aspirations Reward Using feedback, encouragement, rewards and social influence, reinforce customers as they engage in behaviors that are mutually beneficial PEER STRATEGIES DEFINED
- 37. 37 Metaphors for Marketing 37
- 38. 38 Opportunities for Brands and Retailers Consumer Journey Consumer Needs Find Choose Buy Use Minimize Frictions Enable Shoulds Maximize Wants Roles† †Source: Raising the Bar – How Leading Companies are Boosting Customer Loyalty with Mobile and PEER Strategies, Dr. Phil Hendrix
- 39. 39 12 PEER STRATEGIES
- 40. 40 Digital + Mobile – Answers to “What’s Working?” AND FINALLY, ATTRIBUTION
- 41. 41 Relevance Depends on User’s Context Takeaways
- 42. 42 Summary Technology rapidly advancing - Mobile, Social, Location, Digital Signals, Analytics Transforming customer experience - Removing frictions & enhancing experience Bar is continually being raised Across industries - B2B, B2C and B2E2C Platforms + Cloud reducing cost, complexity Disruptive innovation accelerating Marketing adapting!
- 43. 43 Dr. Phil Hendrix – @phil_hendrix
- 44. 44 Partnering Smarter - How Savvy Retailers and Brands Can Win with Digital Promotions and Point-of-Sale Attribution The 6 Disciplines of Innovation Democratizing the Shoppable Web Why the Digital Shelf is Vital for Brands and Retailers Which Mobile Shopping Apps Do Consumers Value Most? If Shopping is Broken, Can Mobile Fix it? Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers Engaging Connected Consumers – Strategies for Brands, Retailers and Local Businesses Raising the Bar – Mobile and Customer Loyalty Social + Location + Mobile: SoLoMo Analytics and the Transformation of Shopping How Consumers Are Using Local Search Mobilizing the Enterprise with Custom Mobile Solutions: Pt. 1 and 2 The Promise of Hyperlocal: Opportunities for Publishers and Developers Tuning into Consumers’ Digital Signals How SoLoMo is Empowering Consumers, Transforming Shopping, and Disrupting Advertising and Retailing Location – the Epicenter of Mobile Innovation Download reports @ www.immr.org IMMR REPORTS
- 45. 45 www.immr.org 1 (770) 612-1488 phil.hendrix@immr.org | @phil_hendrix Presented at iMedia Breakthrough Summit – Atlanta, GA Oct. 27, 2014 Dr. Phil Hendrix Director, immr and Analyst, Gigaom Research www.immr.org/reimagining-marketing.pdf Reimagining Marketing – From the 4 P’s to PEER and Beyond