![]() ![]() Experiential marketing, which applies experimental thinking to marketing, like Red Bull.ģ. ![]() Experiences in name only, where the word “experience” is tacked on to existing marketing.Ģ. He sees 5 key marketing trends unfolding in the experience economy:ġ. “Advertising is the tax you pay for being unremarkable.” Aha! Gilmore, principal of Strategic Horizons LLP, and author of The Experience Economy: Updated Edition. “The purpose of experiences is to make marketing superfluous,” says James H. So: How can marketers make clients look good? How can marketers build clients’ social currency? How can marketers make them feel smart, special, and in the know? Marketers send signals about buyers’ identity. What’s surprising, novel, interesting? Aha! Find your kernel, the story you want people to share. Good stories are Trojan Horses that carry a kernel of the brand or a key attribute.For example, when you want customers to think of “jelly”, say “peanut butter and …” Find triggers for word of mouth to put into your customers’ environment.6 factors drive sharing by word of mouth: Social currency, Triggered, Emotion, Public, Practical value, Stories – STEPP.Word of mouth works because it comes from a trusted source and it’s targeted.Only 7% of word of mouth happens online.Word of mouth goes twice as far as traditional advertising.More tidbits from Berger on word of mouth marketing: How can you embed the kernel of your brand into a story customers will tell? Referred customers also have a 20% greater lifetime value. Most new business results from existing customers’ word of mouth, says Berger. ![]() “No one tells bedtime facts, they tell bedtime stories,” notes Jonah Berger, a Wharton School marketing professor and author of Contagious: Why Things Catch On.Ĭustomers are greatly influenced by word of mouth. So dial up your soul, celebrate your culture and humanize the data. Decisions take more than cold hard facts.ī2B marketing happens human to human. Few business decisions are based solely on hard facts and cold logic, notes Patrick O’Hara of gyro. Aha! Business to business is first and foremost human to human. ![]() Already, 42% of B2B buyers’ Google searches are mobile.Īt LinkedIn, 50% of unique visiting members are on a mobile device. Time with online media now exceeds time spent with all other media combined, Lecinski notes. To take advantage, B2B marketers need to think like entertainment executives: creating marketing to build suspense, foster aspiration and harness emotion. Focus on creating moments of inspiration.Ī buyer’s journey is triggered by moments of inspiration (MOI) – which marketers can create to achieve return on investment (ROI), Davis notes. Aha! Here’s a model of the buyer’s journey, as mapped by Andrew Davis. The buyers’ journey does not look like a funnel instead it looks like the Client Journey model pictured here. Aha!ĭuring searches, customers take completely random walks, says Russell Glass, Bizo founder and LinkedIn executive.īransdscaping author Andrew Davis showed just how random a buyer’s walk could be – with his example about searching for meatloaf recipes, meatloaf at restaurants, and the musician Meat Loaf. Smart companies like GE are now organizing their value propositions by buyer persona.“Smarter customers are solving problems earlier in the buying journey,” says John Bell, VP, enterprise digital marketing, Travelers.Marketers need to “use today’s language, even if it’s uncomfortable,” says Christine Rohan of GE Transport.74% of buyers say buying online is more convenient, notes Laura Ramos of Forrester Research.Marketers need to adapt as B2B buyers change: The millenials have clearly arrived: almost half of B2B buyers are now under age 35. In fact, 60% of buyers are looking at only 2 brands. The typical B2B purchase now involves 12 searches, says Jim Lecinski of Google. What’s changing with B2B buyers? Buyers are doing more searches than before. Ready for 3 days of learning from the Business Marketing Association 2015 #BMA15 conference, packed into 15 aha! moments? Here goes. ![]()
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