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Technology has changed, but the consumer is still king

Technology has changed, but the consumer is still king. Annabel Venner Global Brand Director, Hiscox. Twenty years of marketing experience. The key difference: more ways to reach consumers. 2015 316 channels Facebook, Twitter, Instagram , Pinterest , iPads , Google

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Technology has changed, but the consumer is still king

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  1. Technology has changed, but the consumer is still king Annabel Venner Global Brand Director, Hiscox

  2. Twenty years of marketing experience

  3. The key difference: more ways to reach consumers 2015 • 316 channels • Facebook, Twitter, Instagram, Pinterest, iPads, Google • 15 m watched Bake Off Final • Ad spend £18bn, £5bn on TV, £8bn digital and £1m mobile 1994 24 channels Cable reached 1m subscribers 24m watched Torvill & Dean dance at the Winter Olympics

  4. The fundamentals of marketing haven’t changed To drive profitable growth by creating sustainable consumer and company value At the heart of marketing disciplines is consumer understanding Effective marketing is not something that the Marketing function can deliver alone – it is the remit of the entire organisation

  5. The need to be honest How a company behaves internally and how it acts towards its customers must confirm, rather than contrast with, the image it portrays of itself in the media. A company’s marketing department can’t work in isolation – it needs to make sure that colleagues at the coalface can deliver the promises made in the firm’s ads. Unless you can live up to the promises made in your ads, we may further undermine the industry’s tarnished reputation. View from the Top: Post magazine 2012

  6. Reflect and amplify the core values of the business

  7. Set yourselves apart from the competition

  8. Do it in an engaging and compelling way

  9. Don’t get distracted by the latest technology or buzzwords We know, in the UK, £18.3 billion a year is spent on all forms of advertising and marketing. We know 4 per cent is remembered positively, 7 per cent is remembered negatively, 89 per cent isn’t noticed or remembered. That’s £17 billion wasted because no-one runs a checklist on the basics. "Impact – check. Communication – check. Persuasion – check." So 89 per cent of advertising dies right there. Dave Trott

  10. Financial Services marketing: The challenges and rewards • Low interest category • Tarnished by history • Intangible product • Highly regulated • Necessary evil • Effort required is high • More rounded marketer • Breadth of digital • Own the customer relationship & journey • Access to and ownership of business and customer data • More challenging

  11. Digital marketing • You will be judged vs. other Ecommerce businesses • Art is still important • Need to be always on • Pace of change with legacy system • Customer journey understanding • Two way conversation • More open to disruption • Need for transparency • Protect customers data • It should be part of everyone’s job • Measureable – ROI • More data – but you have to be smart“Not everything that can be counted counts, and not everything that counts can be counted” – Albert Einstein • Test & Learn / Fail fast • 10% of budget for new • Optimisation • Personalisation

  12. Opportunity to be brave and test new things

  13. Growing need for storytellingThe formula for great content

  14. Still a challenge to join the dots

  15. Digital marketing, one size does not fit all

  16. Internal training programmes to develop marketing skill sets and share best practice

  17. Simple formula for success Maximises long term value Brand building Acquisition marketing Marketing is at its core a science and an art supported by marketing disciplines

  18. Looking forward to the future Engagement – when the customer is in touch with you Have impact across the whole business Be agile Test & learn – creativity + analytics Transparency & trust Its not just about digital Make customer engagement/centricity part of the culture Build trust

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