What To Give the Consumer Who Wants Everything

transcript

What to Give the Consumer Who Wants Everything

Nick Worth | CMO | @nsworth

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YET CEREAL SALES ARE DECLINING

WHILE FOOD BAR SALES SOAR

THE ENTITLED CONSUMER

en·ti·tledinˈtīdld, enˈtīdld/adjectivebelieving oneself to be inherently deserving of privileges or special treatment

CONVENIENCE EXPECTATIONS

• 90% EXPECT REAL-TIME CUSTOMER SERVICE

• 89% EXPECT TO SCHEDULE A SERVICE WHENEVER THEY NEED IT

• 78% EXPECT AUTOMATIC PAYMENTS AND CHECKOUTS

• 79% EXPECT SAME-DAY DELIVERY WITHIN 5 YEARS

Harris Poll, 2000 US Adults, 2014

PERSONALIZATION EXPECTATIONS

• 53% EXPECT SERVICE PROVIDERS TO LEARN THEIR TASTES AND MAKE SUGGESTIONS

• 48% EXPECT THAT THERE WILL BE A SERVICE THAT SHIPS PRODUCTS BEFORE THEY ORDER THEM

Harris Poll, 2000 US Adults, 2014

PERSONALIZED EXPERIENCES WIN

Millennials and Gen Z are hard coded to demand more

• Expect brands to know them not as a segment but as an specific individuals

• Less concerned about privacy

• Want brands to provide an individualized experience

AGE OF EXPECTATION

ENTITLED CONSUMER HARD TRUTHS

Convenience

Value Relevance

ENTITLEMENT IS NOT THE ONLY PROBLEM

Hyper-connectivity andLow cost digital communications

Are making consumers harder to engage than ever before

2015:5000

1970:500

AVERAGE NUMBER OF DAILY MARKETING MESSAGES PER CONSUMER

CURRENT AVERAGE HUMAN ATTENTION SPAN

LESS THAN GOLDFISH

ENTER:Continuous Partial Attention (CPA)

OVER-EMPHASIZE MASS COMMUNICATION

ACT AS THOUGH EVERYONE FOLLOWS THE SAME PATH TO PURCHASE

TREAT EVERYONE THE SAME

FAIL TO BE IN THE MOMENT

WE LIVE IN MOMENTS

I-WANT-TO

MOMENTS

INTENT

CONTEXT IMMEDIACY

LOYALTYTO

FORGOT GIFT FOR SON

YOU NEEDA PLAN B

BRANDLOYALTY

DECLINES

Loyalty to

NEEDS.

THERE NEEDS TO BE A MINDSET SHIFT

Message

Product

Channel

MARKETER FIRST

Integrity

Empathy

Relevance

Consumer

CONSUMER-FIRST

Respects Consumer Preference

• Respects the consumer's stated and inferred communication and content preferences

CONSUMER-FIRST MARKETING

Consumer-First Marketing helps brands build relationships on consumers’ terms It is marketing with integrity and empathy toward the consumer

Relatable

• Communication speaks to and sounds like the consumer

Relatable

Adds Value

• Communication explicitly focused on providing value. (i.e., inspire, convince, educate, entertain)

Relatable

Adds Value

• Communication explicitly focused on providing value. (i.e., inspire, convince, educate, entertain)

Contextually Relevant

• Communication that recognizes and responds based on the consumer's current state (mental and physical).

GETTING CONTEXTUAL WITH WEATHER

CONSUMER-FIRST PRINCIPLESSHOULD GUIDE DECISIONS

Identify & Recognize – in real-time & across channels

Insight-Driven – predictive & contextual

Relevant – to the individual & in the moment

Appreciated – respectful & valued

• Natively designed: Cohesive solution designed for data-driven engagement

• Unified data model: 360-degree consumer profile

• Efficient automation: Dynamic messaging based on current consumer data and context

• Consolidated reporting: Real-time metrics and insights

• Highest industry uptime: 99.99% track record for last 6 years

• Marketer-enabled execution: limited dependency on IT

THE VOYAGE TO CONSUMER-FIRST

• Rethink how you identify and recognize consumers

• Leverage predictive and contextual capabilities

• Build permission and earn your consumers’ attention

• Seek to become appreciated and valued by consumers

• Start small and build

“Integrated” Marketing Cloud

Unified Omnichannel Platform

Social