ROUNDTABLE 2015: Iain Lovatt

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  • The single customer view and its

    relevance in the news media

    market.

  • The single customer view and its relevance in the news media market.

    Marketing and your customers

    News Media and Relevance

    Who am I?

    What will you get out of this presentation?

    Marketing and Relevance?

  • Who am I?

  • What will you get out of this

    presentation?

  • Marketing and Relevance?

  • Marketing and your custom

    ers

  • News Media and Relevance

  • Who am I?

  • Chairman of Blue G

    roup Inc

    Exists to enable clients to create perfectly targeted marketing with

    relevance

    30 years in customer insight, data and m

    arketing, em

    ploying over 100 people in data and technology to deliver services to clients.

  • Married for 30 years with four children, 2 boys and 2 girls

  • Love golf, skiing, rugby, wine and food, physical exercise and of course shoes

    Turnberry 2015

  • I have paid subscriptions to The Times, Economist, Harvard Business Review and the NYT. I buy books online and love reading about business and personal development.

  • What will you get out of this

    presentation?

  • What you will get out of today is an understanding that

    everything Is personal. There is no such thing as just business

    That specifically includes the relationships your custom

    ers have with you and not the relationship you have with your custom

    ers.

  • Marketing and Relevance?

  • What do people say?

    What do people say

    about you. It stands for the

    same things I do

    Being associated with it makes m

    e feel better about m

    yself.I want people to know that I am

    associated with it.It helps m

    e meet m

    y needs.It inspires m

    e.

  • Marketing and your custom

    ers

  • More m

    essages than ever. 5,000 com

    mercial m

    essages every day. That tally doesnt include m

    ailregular or e-m

    ailphone calls, m

    emos, white

    papers, texts, IMs

    etc

  • More people vying for their

    business. More and m

    ore companies are battling

    for the attention of the same potential custom

    ers you are.

  • On tighter budgets. People are sim

    ply not going to waste tim

    e on messages for things they either

    cant afford or that have no meaning in their lives.

  • Facing lots of competition for their

    time. Between twenty-four-hour news cycles, DVR, live

    television shows, and the fact that you can check your e-m

    ail on your smartphone every fifteen seconds if you want,

    we are never off.

  • Not uniform in their m

    akeup. One size

    definitely does not fit all. You need to develop a marketing

    approach to reach them as individuals.

  • The net result? They are becoming m

    ore dem

    anding.

  • News Media and Relevance

  • News Media

  • Back in the day, people used to read their morning

    newspaper to keep up with current events. Nowadays, in the age of Twitter, sm

    artphones and real-tim

    e information, once you pick up a newspaper,

    the events reported in it are hardly considered current anym

    ore. The way people consume news has shifted

    radically over the past two decades and newspapers are the m

    ain victims of that tectonic shift.

    On average U.S. consum

    er spent 31.4 minutes daily reading

    newspapers in 2008. This will fall to just 16 minutes in 2018. Source

    INMA 2015

  • Newspapers are still considered to be the most credible and comprehensive source of news and information for many people, but they must be relevant to resonate emotionally with readers. INMA October 2014

  • Newspapers are still considered to be the m

    ost credible and com

    prehensive source of news and inform

    ation for m

    any people, but they must

    be relevant to resonate em

    otionally with readers. INM

    A October 2014

    What is relevance and why does it m

    atter?

    So are you relevant?

    The Three Dimensions of Relevance

    The Relevancy Challenge

  • What is relevance and why does it m

    atter?To know the relevance of som

    ething is to know why it m

    atters or how it is important. I don't

    understand the relevance of this discussion: it doesn't seem

    important to m

    e.If you don't understand the relevance of the word "relevant" to the discussion of the m

    eaning of the word relevance, we're gonna have some trouble. W

    hen som

    ething is "relevant," it matters. Its relevance is clear. Relevance is sim

    ply the noun form

    of the adjective "relevant," which means "im

    portant to the matter at

    hand." Artists and politicians are always worried about their relevance. If they are no longer relevant, they m

    ay not keep their job. Someone without relevance

    might be called "irrelevant." I would prefer washed up, a has been, deadwood

  • So are you relevant?

  • You send millions of $s trying to get people to buy your products or

    embrace your brand and of course your clients spend billions of $ through

    you to do the same thing but..

    Customers are becom

    ing progressively fickle. They are now tim

    e poor and cash rich and choice is all around them

    .

    They expect superior execution on your part. They expect you to act in their best interests at all tim

    es.

    A slip on your part or if the customers

    encounter a competitor that does what you do

    slightly better or at a lower price point and bam

    they abandon you. They have become m

    ore transactional and transient for all products except those they hold dear to them

    .

  • If your product/service/idea resonates with a customer, if it

    means som

    ething to them in addition to being utilitarian,

    then the relationship will be deeper, longer lasting, and more

    profitable. For example, value and dependability are the

    bedrocks of the ideal customer experience. So providing

    those two things are absolutely necessary, but they give you no com

    petitive advantage, because the other companies

    battling with you to gain market share are providing them

    as well.

    But, generation Y shoppers, according to research, are m

    uch more likely

    twice as likely as boomers, in fact

    to say their favorite retailer delivers an experience that theyd like to share. The shareability com

    ponent underscores the new social experience this cohort is looking for both offline and online. Its what is required to be relevant to them

    . Can they share your stuff with their friends and work colleagues? Are you shareable?

    Unlike other objectives marketers have aspired

    toengagem

    ent, eyeballs, alignment,

    buzzes, clicks, and stickiness, for example

    relevance has the power to change both minds

    and behavior. Those gen Y shoppers, for exam

    ple, are going to search out retailers that provide experiences they want to share, leaving behind the ones that dont.

    Heres another reason why relevance is so important. You

    cant get people to do things if they dont hear you. Sure, you can keep raising the volum

    e on what you have to say to the point where people know you are trying to com

    municate with

    them. But the only way they are going to pay attention is if you

    can create an emotional connection. W

    hat you have to say needs to resonate. Your m

    essage must be personal if you

    want your audience to consider seriously what you have to say.The connection also explains why custom

    ers will stay with you. It is easy for them

    to switch to another brand, and your custom

    ers will unless they feel some sort of personal

    connection to your offering

  • Its about meaning.

    In simple term

    s, relevance is that which provides meaning in our lives. Relevance is the full experience of a

    product, brand, candidate, or cause that we can relate to; its an experience that, as we have seen, not only changes m

    inds but, importantly, changes behaviour

    and sustains that change.

    The key to understanding relevance is knowing that its spawned by many factors beyond

    logic. For example, everyone knows on an intellectual level that sm

    oking is harmful, but

    that information is irrelevant

    or at least not relevant enoughto a person who relishes

    nicotines calming effect, or whose friends and fam

    ily smoke and who savours the earthy

    aroma of fresh tobacco, or who has long associated that first cup of coffee in the m

    orning with a cigarette.Because this point is so im

    portant, lets stay on it for one more m

    inute.Are you concentrating on the wrong things?

  • The Three Dimensions of Relevance

  • Segment: You cannot be all things to all people. But you can be relevant to all people based on som

    e aspect of your offering. You can find out which one will resonate by dividing your m

    arketing by very specific categories: What they read and what the dont read. Sports Team

    supported etc as well as age, income,

    gender, education, geography, life experience, interests, politics, whatever, and determine how you can m

    ake what you have relevant to people in each of those categories. You cannot be relevant at an aggregate level. Relevance can only be had on a 1-2-1 levelW

    e are at a point where a simple purchase has m

    ore facets of meaning, and therefore, facets of potential relevance. Just look at the level of choice that exists

    around coffee..

  • Intangibles: There are four components when it com

    es to building relevance. These four things, combined, affect consum

    ers responses to your offering, though often on a level they cant articulate.Thinking. Clearly, cognition on the part of your audience m

    ay be necessary to create the change behaviour you seek. You want them to logically consider the value of

    your offering.Sensory appeal. How does the object you are selling look, feel, taste, sm

    ell, sound? This dimension can be overlooked, and it shouldnt be. G

    iven two devices that perform

    equally well, surgeons will always pick the one that feels better in their hands. And, of course, users of Apple products rave about their appearance as well as their perform

    ance.C

    omm

    unity. The opinions of friends and respected advisers have always been important to consum

    ers, and the Internet has made finding out what they think far

    easier than ever before.Values. W

    hat is important to the person you are trying to reach?

    Heres how these four components work in practice: im

    agine its raining and you have no umbrella.

    Thinking tells you that you need to buy one.How does each um

    brella feel in your hand? Thats a sensory consideration every bit as important as the thinking. If the um

    brella is awkward to use, you are going to end up getting wet.Now, if everyone in your profession carries a black um

    brella, you might not find relevance in a pink one with a unicorn on it. Thats a com

    munity consideration.

    So you want a black one, but which one? It may be im

    portant to you that the umbrella was designed with sustainability in m

    ind, that it comes from

    a local retailer, or is the sam

    e brand your father and grandfather carried. These emotional elem

    ents reflect ones values.

  • Circumstances: Here we are talking about the relevance that occurs through content, context, and contact.

    Content of a com

    munication

    say, words and pictures on a web pageis the prim

    ary vehicle for delivering relevance to an audience.C

    ontext, by which we mean tim

    e and space, is another factor. What is relevant in the m

    orninga double espresso, for exam

    plem

    ay not be relevant in the evening?C

    ontact is a third factor: relevance depends on the comm

    unications source, be it a child, a doctor, a business (through a comm

    ercial message), or a

    political party, and it also depends on the medium

    itself. For example, com

    munications experts are refining ways to spark online conversations and

    seed comm

    unities to trigger behaviour. What was once an art is fast becom

    ing a science?

  • The Relevancy Challenge

  • More Valueable

    Relevance is more valuable today than it was yesterday. Heres why: choice has disrupted the conventional merchantcustomer relationship. The consumer, rather than the retailer, is now in charge, since consumers have so many more options when it comes to where and what they buy. On top of that, organizations no longer know where their next competitor is coming from; it could come from down the block, or halfway around the world. As a result, there is both a greater need and a greater opportunity to be more relevant.

  • More Com

    plex

    Relevance is more com

    plex today than it was yesterday. Because people have m

    ore choices of products, services, and ideas

    and more

    access to information about them

    what is, and

    can be, more relevant increases. This is the

    crux of the relevance challenge. Fortunately, the technologies that have com

    plicated relevance can also help us identify, draw out, and engage the people we are trying to reach.

  • Technology

    Relevance is more difficult to establish today than it was yesterday. Thanks to technology,

    individuals now have an astonishing array of options in the marketplace as well as tools for

    evaluating them. And people have a greater ability to act on those choices. All they need to

    do is click on what they want, regardless of where it resides on the planet.

  • Keeping

    Relevance is more difficult to hold onto

    because of the first three reasons.

  • Single Customer View

  • What is it?

  • What data sources do we have for our readers

    and what do we need for the future?

  • What data sources do we have for our readers

    and what do we need for the future?

    Hard Data

    Soft Data

    Relevant and Actionable Data

  • Hard Data

  • Soft Data

  • Relevant and Actionable Data

  • So are you relevant to your customers?

  • /The single customer view and i.../News Media and Relevance/Newspapers are still consider...

    http://www.inma.org/blogs/value-content/

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