5 3.0 Marketing Plan Implications for 2013
It’s coming up to that time of year again and, whether your financial year ends in December or March, there’s a lot to do. As always, you’ll be interested in achieving an even greater impact with your marketing resources and budget in the coming financial year. What changes should you consider making based on the latest information about customer’s purchasing behavior and expectations, and the information sources that inform and influence them?
In June the Maastary B2B Marketing Blog published a post entitled “Optimizing your marketing mix in a 2.0 world - 3 lessons learned” which talked about the implications of operating in a 2.0 World. Now it’s October and, of course, 2.0 is already looking dated! If we want to be where the puck is going, one recommendation is to adopt Marketing 3.0 practices!
According to Phillip Kotler, author of Marketing 3.0: From Products to Customers to the Human Spirit1 there are three stages of marketing:
- Marketing 1.0 is product-centric marketing targeted more at the rational mind of the buyer
- Marketing 2.0 is customer-centric marketing that appeals both to the buyer’s rational mind and to his or her heart.
- Marketing 3.0 takes this a step further. Products and solutions, often developed collaboratively (or at least in close contact) with customers, that appeal not only to the rational mind and the heart but also to the very spirit of the buyers. With Marketing 3.0 the messaging often includes the impact that product use will have beyond the buying organization e.g. after use the product is recyclable or its use will make the world a better place.
Marketing 3.0 is the reaction to key buyer behavior trends that have been developing for quite some time. For example:
Influenced by advertising and social media, buyers are looking beyond the purely product benefits when considering innovative solutions. Apple is the classic example of a company whose products appeal to buyers' spirits but there are an increasing number of others including Starbucks and Richard Branson's Virgin brand, to name but two.
Customer advocacy and peer referrals through social media are of growing importance. Consequently social media is becoming a bigger factor in brand awareness and corporate reputation and social factors matter more.
Buyers view technology as a commodity and distinguish between vendors more on the basis of who listens and responds best to their needs and broader aspirations.
Mobile platform sales are outstripping desktop and laptop sales. Email opens on mobile devices are expected to exceed 50% during 2013. One social consequence of note: emails will increasingly be read in bed after the mobile-based alarm wakes the user!
How should you factor these trends into your marketing plans and budgets for 2013? What changes should you make? Here are 5 recommendations:
Devote resources to improving your customers' experience. How can you deliver a better customer experience across the entire lifecycle of your relationship with them? They want much more than a product or solution now, they want a pleasant and even uplifting experience, starting with the purchase process itself. How easy/enjoyable is it for them?
Budget for target segment research. The increasing volume of valuable content available via the Internet makes understanding your target customers of paramount importance. Only by really understanding their challenges and pain points will you be able to develop remarkable content that will help them to achieve their goals and improve the likelihood of attracting their business. Both prospect research and social media monitoring are key investments.
Make marketing responsible for contributing to your pipeline but give them responsibility for the online customer relationship. Customers are seeking online engagement with the brands they favor but do not want to deal with sales until they are ready. One-to-one, (as close as possible to an) individualized response is the gauge that customers use to measure the quality of their interactions. What marketing tools and processes will you need to put in place to make this happen?
Increase funding for marketing technology. For example, if you aren't using a marketing automation platform, chances are you're missing online opportunities and not learning what works and what doesn't in this new 3.0 digital world. The ability to segment you marketing database is also vital so that you can send more "personalized" messages to you customers and prospects. Expect a better ROI from your marketing investments once these systems are live and in frequent use.
Increase funding for content creation and review your online advertizing spending. Consumers report that they prefer TV and print advertizing vs. online ads2, and yet, B2B buyers want more thought leadership. Content is king but relevancy and timliness are becoming more vital. Its important to have access to resources to create relevant and timely content that aligns with your keyword and SEO strategies.
What implications of Marketing 3.0 do you find important to address in your marketing plans going forward?By Ray Wright
References:1Marketing 3.0: From Products to Customers to the Human Spirit
by Phillip Kotler , Hermawan Kartajaya and Iwan Setiawan2 U.S. Study Reveals Online Marketing is Failing with Consumers
, Adobe Press Release
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