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An Experience Worth Raving About

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1) The document discusses how marketing is transitioning from a support function to a strategic asset by focusing on customer experience and experiential marketing. 2) Experiential marketing involves businesses doing things that are worth talking about rather than just producing content. This could include activities for customers to engage with. 3) As customer experience becomes more important, marketing has an opportunity to lead by managing the customer journey and gathering customer insights to improve the experience at all stages.

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AN EXPERIENCE WORTH RAVING ABOUT PAUL EVERETT, DIRECTOR, THE MARKETING PRACTICE @TMPEverett
(ABOUT ME) Working for… ...selling to INTRODUCTION
A TRACK RECORD OF PREDICTIONS INTRODUCTION
DECISION TIME FOR B2B BUSINESSES INTRODUCTION Marketing as a support resource for the business Marketing as a strategic asset for the business OR Marketing objectives Time horizon Typical skill sets Relationship with sales Efficient delivery against campaign targets Campaign to campaign / quarterly outlook Marketing communication and project management Responsive / supportive (Joint) ownership of commercial targets and overall ROMI Shaping the market for the future & evolving programmes over time Blend of strategic and operational not limited to pure marketing skills Peer to peer
We need to break out from the marketing silo and do things that have an impact on the business and our customers INTRODUCTION BECOMING A STRATEGIC ASSET
TWO KINDS OF EXPERIENCE INTRODUCTION Customer experience (Do you know what it’s like to be a customer of your business?) Experiential marketing (Doing things as a business that are worth talking about)
EXPERIENCE: THE NEW BATTLEGROUND FOR COMPETITIVE DIFFERENTIATION Participants in activities such as tourism, extreme sports and recreational drug-use also tend to stress the importance of experience. INTRODUCTION
EXPERIENTIAL MARKETING
“The internet is broken.” The Guardian, 15 August 2014 EXPERIENTIAL “Is the internet full?” The Telegraph, 13 August 2014
WE HAVE FILLED THE INTERNET WITH INFOGRAPHICS “Can we fit one more in?...” INTRODUCTION EXPERIENTIAL
WHERE DID IT ALL GO SO HORRIBLY WRONG? EXPERIENTIAL
EXPERIENTIAL
EXPERIENTIAL
WHAT ARE THESE EXPERIENCES? Something your business does that the audience can engage with Rather than standalone content, which is just something that marketing creates Do something that’s worth marketing, rather than creating ‘empty’ marketing EXPERIENTIAL
STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL
STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL
STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL “It’s rather refreshing to see a big tech company actually do this kind of thing rather than just talk about it.”
STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL
FINDING YOUR IDEA Don’t get too caught up on joining the ‘outside-in’ bandwagon. What are you great at that customers love? Sense check: The best ideas will need to involve people outside Marketing! EXPERIENTIAL
FINDING YOUR IDEA Before: Show, don’t tell “Tell me and I forget. Teach me and I remember. Involve me and I learn.” Now: Share, don’t show EXPERIENTIAL
CUSTOMER EXPERIENCE IN B2B
WHY WILL CX BE THE NEXT BIG THING IN B2B? Will our existing customers buy more from us and re-sign the contract? Are we serving customers in the most efficient way possible? Are we creating raving fans as our best proof points and advocates? CUSTOMER EXPERIENCE Does the experience of being our customer match up with our positioning and the story we’re telling in the market?
AN OPPORTUNITY FOR MARKETING TO LEAD CUSTOMER EXPERIENCE 3a – False partnership •Marketing has minor role in lead generation strategy •May have revenue responsibility, usually shared with sales. •Limited or no control over customer experience, product development. 3b – True partnership •Marketing has a significant role in lead generation strategy •Has revenue responsibility that is usually shared with sales, but may also be a standalone target •Significant or leadership role in managing customer experience, product development 1– Sales led •Marketing supports sales with brand and lead gen activities •Rarely has revenue responsibility, and that is usually shared with sales, not a standalone target •Small role in growth strategy, product direction, etc. 2– Marketing led •Marketing drives much or all of revenue •Leads growth and lead generation strategies Source: Econsultancy, The Reinvention of B2B Marketing, 2014
AN OPPORTUNITY FOR MARKETING TO LEAD CUSTOMER EXPERIENCE Sales - led False partnership True partnership Marketing - led Brand strategy & comms Brand strategy & comms New product innovation Brand strategy & comms Sales support Sales support Brand strategy & comms New product innovation Promotions Promotions Sales Support CX & lifecycle management Customer research Customer research CX & lifecycle management Customer research Digital innovation New product innovation Customer research Promotions New product innovation CX & lifecycle management Promotions Channel Management CX & lifecycle management Channel management Channel management Digital innovation Channel management Digital innovation Digital innovation Sales support Marketers Rank Their Greatest Impact on Growth 1 2 3 4 5 6 7 8 Source: Econsultancy, The Reinvention of B2B Marketing, 2014
IT IS ALREADY HAPPENING Led by organisations with a B2C heritage Reflected in the rise of Account Based Marketing Seeing it in new job roles and responsibilities More programmes focused on customer lifecycle (and data quality!) CUSTOMER EXPERIENCE
FUNDAMENTAL BUILDING BLOCKS CUSTOMER EXPERIENCE Desired position Customer experience Sell Welcome Optimise Upsell Renew Personal motivations Status Career Fun Security
FUNDAMENTAL BUILDING BLOCKS CUSTOMER EXPERIENCE Desired position Customer experience Sell Welcome Optimise Upsell Renew Personal motivations Status Career Fun Security A methodology and responsibility for gathering and acting on customer experience insight
EXAMPLE IN PRACTICE Positioning hypothesis: ‘making Finance easy’ is a potential position in the market Customer research: it is an important factor, and ‘fun’ is a related attribute Existing customer experience positives: concrete areas where we are already different Existing customer experience negatives: where experience is a long way from positioning Customer journey mapping: identify pain points & moments of truth with prioritised actions Business actions: Internal change programme and employee engagement Marketing actions: •Messaging development for new positioning •Customer lifecycle communications (moments of truth) •Customer advocacy refresh •Prospect and customer segmentation CUSTOMER EXPERIENCE
EXAMPLE IN PRACTICE Benefits: •Stand-out position attracts new business •Customer retention and increased share of wallet •Advocacy-powered customer growth •Cost savings from process simplification •Pride in customer satisfaction Marketing as a strategic asset to the business! CUSTOMER EXPERIENCE
THE KEY CULTURAL TREND OF THE 21ST CENTURY?
STUFFOCATION - JAMES WALLMAN “Instead of stuff, focus your energy, money and time on experiences.” “Switch from the materialist mindset — so last century — and get on board with the key cultural trend of the 21st century: experientialism.” “Instead of looking for status, happiness and meaning in material things, start getting them from experiences.” CONCLUSIONS
CONCLUSIONS
A FINAL QUESTION… So what are you doing to help your customers find status, happiness and meaning? If you can do that, they’ll stay with you for life. CONCLUSIONS
@TMPEverett THANK YOU

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An Experience Worth Raving About

  • 1. AN EXPERIENCE WORTH RAVING ABOUT PAUL EVERETT, DIRECTOR, THE MARKETING PRACTICE @TMPEverett
  • 2. (ABOUT ME) Working for… ...selling to INTRODUCTION
  • 3. A TRACK RECORD OF PREDICTIONS INTRODUCTION
  • 4. DECISION TIME FOR B2B BUSINESSES INTRODUCTION Marketing as a support resource for the business Marketing as a strategic asset for the business OR Marketing objectives Time horizon Typical skill sets Relationship with sales Efficient delivery against campaign targets Campaign to campaign / quarterly outlook Marketing communication and project management Responsive / supportive (Joint) ownership of commercial targets and overall ROMI Shaping the market for the future & evolving programmes over time Blend of strategic and operational not limited to pure marketing skills Peer to peer
  • 5. We need to break out from the marketing silo and do things that have an impact on the business and our customers INTRODUCTION BECOMING A STRATEGIC ASSET
  • 6. TWO KINDS OF EXPERIENCE INTRODUCTION Customer experience (Do you know what it’s like to be a customer of your business?) Experiential marketing (Doing things as a business that are worth talking about)
  • 7. EXPERIENCE: THE NEW BATTLEGROUND FOR COMPETITIVE DIFFERENTIATION Participants in activities such as tourism, extreme sports and recreational drug-use also tend to stress the importance of experience. INTRODUCTION
  • 9. “The internet is broken.” The Guardian, 15 August 2014 EXPERIENTIAL “Is the internet full?” The Telegraph, 13 August 2014
  • 10. WE HAVE FILLED THE INTERNET WITH INFOGRAPHICS “Can we fit one more in?...” INTRODUCTION EXPERIENTIAL
  • 11. WHERE DID IT ALL GO SO HORRIBLY WRONG? EXPERIENTIAL
  • 14. WHAT ARE THESE EXPERIENCES? Something your business does that the audience can engage with Rather than standalone content, which is just something that marketing creates Do something that’s worth marketing, rather than creating ‘empty’ marketing EXPERIENTIAL
  • 15. STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL
  • 16. STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL
  • 17. STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL “It’s rather refreshing to see a big tech company actually do this kind of thing rather than just talk about it.”
  • 18. STOP PRODUCING STUFF. START DOING THINGS AS A BUSINESS THAT ARE WORTH TALKING ABOUT. EXPERIENTIAL
  • 19. FINDING YOUR IDEA Don’t get too caught up on joining the ‘outside-in’ bandwagon. What are you great at that customers love? Sense check: The best ideas will need to involve people outside Marketing! EXPERIENTIAL
  • 20. FINDING YOUR IDEA Before: Show, don’t tell “Tell me and I forget. Teach me and I remember. Involve me and I learn.” Now: Share, don’t show EXPERIENTIAL
  • 22. WHY WILL CX BE THE NEXT BIG THING IN B2B? Will our existing customers buy more from us and re-sign the contract? Are we serving customers in the most efficient way possible? Are we creating raving fans as our best proof points and advocates? CUSTOMER EXPERIENCE Does the experience of being our customer match up with our positioning and the story we’re telling in the market?
  • 23. AN OPPORTUNITY FOR MARKETING TO LEAD CUSTOMER EXPERIENCE 3a – False partnership •Marketing has minor role in lead generation strategy •May have revenue responsibility, usually shared with sales. •Limited or no control over customer experience, product development. 3b – True partnership •Marketing has a significant role in lead generation strategy •Has revenue responsibility that is usually shared with sales, but may also be a standalone target •Significant or leadership role in managing customer experience, product development 1– Sales led •Marketing supports sales with brand and lead gen activities •Rarely has revenue responsibility, and that is usually shared with sales, not a standalone target •Small role in growth strategy, product direction, etc. 2– Marketing led •Marketing drives much or all of revenue •Leads growth and lead generation strategies Source: Econsultancy, The Reinvention of B2B Marketing, 2014
  • 24. AN OPPORTUNITY FOR MARKETING TO LEAD CUSTOMER EXPERIENCE Sales - led False partnership True partnership Marketing - led Brand strategy & comms Brand strategy & comms New product innovation Brand strategy & comms Sales support Sales support Brand strategy & comms New product innovation Promotions Promotions Sales Support CX & lifecycle management Customer research Customer research CX & lifecycle management Customer research Digital innovation New product innovation Customer research Promotions New product innovation CX & lifecycle management Promotions Channel Management CX & lifecycle management Channel management Channel management Digital innovation Channel management Digital innovation Digital innovation Sales support Marketers Rank Their Greatest Impact on Growth 1 2 3 4 5 6 7 8 Source: Econsultancy, The Reinvention of B2B Marketing, 2014
  • 25. IT IS ALREADY HAPPENING Led by organisations with a B2C heritage Reflected in the rise of Account Based Marketing Seeing it in new job roles and responsibilities More programmes focused on customer lifecycle (and data quality!) CUSTOMER EXPERIENCE
  • 26. FUNDAMENTAL BUILDING BLOCKS CUSTOMER EXPERIENCE Desired position Customer experience Sell Welcome Optimise Upsell Renew Personal motivations Status Career Fun Security
  • 27. FUNDAMENTAL BUILDING BLOCKS CUSTOMER EXPERIENCE Desired position Customer experience Sell Welcome Optimise Upsell Renew Personal motivations Status Career Fun Security A methodology and responsibility for gathering and acting on customer experience insight
  • 28. EXAMPLE IN PRACTICE Positioning hypothesis: ‘making Finance easy’ is a potential position in the market Customer research: it is an important factor, and ‘fun’ is a related attribute Existing customer experience positives: concrete areas where we are already different Existing customer experience negatives: where experience is a long way from positioning Customer journey mapping: identify pain points & moments of truth with prioritised actions Business actions: Internal change programme and employee engagement Marketing actions: •Messaging development for new positioning •Customer lifecycle communications (moments of truth) •Customer advocacy refresh •Prospect and customer segmentation CUSTOMER EXPERIENCE
  • 29. EXAMPLE IN PRACTICE Benefits: •Stand-out position attracts new business •Customer retention and increased share of wallet •Advocacy-powered customer growth •Cost savings from process simplification •Pride in customer satisfaction Marketing as a strategic asset to the business! CUSTOMER EXPERIENCE
  • 30. THE KEY CULTURAL TREND OF THE 21ST CENTURY?
  • 31. STUFFOCATION - JAMES WALLMAN “Instead of stuff, focus your energy, money and time on experiences.” “Switch from the materialist mindset — so last century — and get on board with the key cultural trend of the 21st century: experientialism.” “Instead of looking for status, happiness and meaning in material things, start getting them from experiences.” CONCLUSIONS
  • 33. A FINAL QUESTION… So what are you doing to help your customers find status, happiness and meaning? If you can do that, they’ll stay with you for life. CONCLUSIONS