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I will
discuss the digital revolution in marketing.
The first part of my presentation is on marketing and sales, where
the future is very different from the past.
Marketing
has become very complex: marketing people now have to create good
products; build strong brands – brand image is growing in importance;
find new customers; up‑sell and cross‑sell their customers;
and create customer loyalty. This
all has to be done cost-effectively. Marketeers tend to be efficient people, but in measuring
customer contact we now want to know the cost of each customer acquired.
Boards want more control: they want to know what percentage of
their advertising budget was wasted.
The result is neurotic marketeers.
This
is Wall Street’s mission statement: we want more of everything, and to
do everything better. There is no mass marketing any longer: we have to market one
customer at a time, and do it in real time – very interactively.
That all makes marketeers’ lives hard, so change is happening.
Change is very difficult. Marketeers
must have excitement, adventure, something new, untried, and different.
Our challenge is to change our industry and company’s marketing
habits.
That
means shifting from customer-product management to a... The
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