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AMERICAN-GERMAN BUSINESS CLUB MUNICH CHAPTER MARCH 30, 2011 HAL STINCHFIELD PROMOTIONAL MARKETING INSIGHTS Strategic Marketing Challenges & Opportunities.

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Presentation on theme: "AMERICAN-GERMAN BUSINESS CLUB MUNICH CHAPTER MARCH 30, 2011 HAL STINCHFIELD PROMOTIONAL MARKETING INSIGHTS Strategic Marketing Challenges & Opportunities."— Presentation transcript:

1 AMERICAN-GERMAN BUSINESS CLUB MUNICH CHAPTER MARCH 30, 2011 HAL STINCHFIELD PROMOTIONAL MARKETING INSIGHTS Strategic Marketing Challenges & Opportunities in the Digital Age

2 Agenda Traditional U. S. Marketing Initiatives Most Common Marketing Challenges  Agencies  Website Development  Campaign Deployment Most Prevalent Marketing Trends Fastest Growing Digital Marketing Tactics Defining Digital Marketing Objectives Turning Challenges into Opportunities Conclusion Q & A

3 Traditional Marketing Initiatives Coupons – 333 billion distributed in 2010 – 3.3 billion coupons redeemed with a face value of 3.7 Billion dollars Rebates- 350 million redeemed in 2010 Prepaid Gift Cards as Rebate Vehicles – growing considerably faster than rebate checks Premiums Sweepstakes Offline Continuity, Loyalty, and Frequency Programs

4 Traditional Marketing Initiatives Coupons – 350 billion distributed in 2009 – face value of 3.5 Billion dollars Rebates- 350 million redeemed in 2010 Gift Cards as Rebate Vehicles Premiums Sweepstakes Offline Continuity, Loyalty, and Frequency Programs

5 Traditional Marketing Initiatives

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8 Marketing Challenges - Agencies Client assumes agency understands client’s business because they have experience in the category Even if an agency knows the category – it doesn’t mean they know your business They can be functionally competent but not have client chemistry In the U. S. many advertising agencies charge their clients for media placement and billable hours Example : agency may get well compensated for placing an advertisement in 52 million Sunday Newspapers

9 Marketing Challenges - Agencies What’s often overlooked is that they may be reaching the wrong 52 million people but they still get paid! Billable hours- if an agency gets a project that takes 50 hours to complete- we often see that there’s often no disincentive to stretch it to 100 hours- after all - it’s your money! This has often been viewed as a conflict of interest Some agencies are selected because of their “marquis” clients- what you may not know is how are they doing for them Research to determine how much they know specifically about your consumers, your competitors’ consumers, and how they intend to influence their behavior

10 Marketing Challenges – Website Development A multi-billion dollar firm launched a website – with messaging to no fewer than five different groups: Consumers Weight loss clinics Dieticians General practitioners Surgeons Site is: OptifastOptifast The online marketing community would call this – Frankenstein! The bottom line is: your online presence simply can’t be “all things to all people”

11 Marketing Challenges – Website Development The next case is a site for a U. S. Guitar Company; http://www.mcphersonguitars.com http://www.mcphersonguitars.com When asked about client objectives – answer: no objectives specified When asked what direction the agency received: client wanted “the most beautiful site in the world” Agency may have accomplished that - but without an objective – the site won’t do anything- except exist So- determine what your site is supposed to do- before you create it or refresh it

12 Marketing Challenges – Campaign Deployment Most problematic issues identified in campaign deployment are generally program-specific rather than tactic-specific Most problems and complaints emanate from:  Offer Structure  Offer Communication  Offer Execution U. S. legislators often believe that marketers intentionally develop offers that are difficult to comply with Not true – most are issues inadvertent but still attract unwanted regulatory attention

13 From To Paper Intrusive marketing Marketer’s need for awareness Marketer control Desktop computer Digital Permission-based marketing Marketer’s requirement for action Consumer control Mobile device Most Prevalent Marketing Trends

14 Fastest Growing Digital Marketing Tactics Social Media –  Facebook  YouTube  Twitter Search Engine Optimization Deal-of-the-Day websites – like Groupon Quick Response or QR Codes I-Phone and other Smart Phone Applications Broadcast Texting Online Loyalty Programs

15 Fastest Growing Digital Marketing Tactics OVER 500 MILLION USERS

16 Fastest Growing Digital Marketing Tactics TWO BILLION VIEWERS PER DAY

17 Fastest Growing Digital Marketing Tactics 10 BILLONTH TWEET occurred March of 2010

18 Fastest Growing Digital Marketing Tactics 30 MILLION Global subscribers

19 Fastest Growing Digital Marketing Tactics 88 BILLION SEARCHES per month

20 Fastest Growing Digital Marketing Tactics

21 QR Codes started by Denso Wave in Japan in 1994 Minimum 52% of population have seen the codes 28% have used OS Scans  Apple 68%  Smart phones 26%  Blackberry 4% 1200% increase in scanning July 2010 – December 2010 57% of Facebook & Twitter users have scanned in past year

22 Fastest Growing Digital Marketing Tactics “We have to be on Facebook” “We’re missing a huge opportunity” “Let’s do something with Twitter” “What about YouTube” “Who knows about Search” “Can we do Groupon” “What about QR Codes”

23 Defining Digital Marketing Objectives Define your objectives – what is it that you want to accomplish Develop a strategy for getting that done- remember every good strategy is an integrated strategy Deploy tactics consistent with the strategy that will accomplish the brand’s objectives

24 Defining Digital Marketing Objectives Listen to what your consumers are saying about your brand Create a venue for consumers to “follow” you, your progress, and your new product introductions Increase “traffic” to your website Observe that traffic (Google Analytics) and understand what you must do to convert that traffic into “action”- such as a purchase Engage in dialog with your consumers Validate all inbound communication

25 Defining Digital Marketing Objectives Crisis management:  Fix the problem  Correct the perception Ask consumers to “share their story” Product sampling Trial Awareness – to consumers who don’t know about you Penetration – more product to same customers Customer acquisition – new sales to new customers Profitability (via shopper insights) – sales of most profitable product to existing and new customers

26 Turning Challenges into Opportunities Agency Selection  Don’t assume an agency knows your business  Identify not only what they do but how they propose to do it  Consider changing the compensation model – pay for results, not media placement and billable hours  If a proposal contains tactics you are not familiar with – perform necessary due diligence Website  Determine what results your online presence needs to produce  Learn how is it supposed to do that  To whom is it meant to appeal  What will drive that appeal

27 Turning Challenges into Opportunities Search engine optimization  When prospective customers are doing research, what terms are they using to find you  Are all of those terms in your website  Is your site easy to navigate  Is your audience finding the most compelling content “above the fold” Social Media  Is your target audience talking about you or your product  What are they saying  Do you have the resources to participate in that dialog

28 Turning Challenges into Opportunities Shopper Insights  Have you profiled your light, medium and heavy purchase consumers  Which are most profitable to you  Are they “brand” loyal  Are they price sensitive  What characteristics do they have in common

29 Turning Challenges into Opportunities Shopper Insights  How do you need to speak to them to get their attention- and subsequent “share of wallet”  Where do they buy  Why do they buy from that venue  Does that influence their propensity to buy your product  How can you influence each and every buying opportunity:  in store  in media  online

30 Conclusion Research, research, research Know your customers Understand who buys from you and why Learn who buys from your competitors and why Figure out who they are, how to find them, where to find them- and how to convert them Finally  You can’t manage what you can’t measure so  Measure EVERYTHING!

31 Questions & Answers Thank You! Hal Stinchfield Promotional Marketing Insights hal@promotioninsights.com 612-867-9760


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