Relationship marketing session 5 vodcast part 1

Category: Education

Presentation Description

Part 1 of a 2 part session on Relationship marketing


Presentation Transcript

Slide 1:

PART 1 relationship marketing – the theory

Slide 2:

Marketing 3.0 Relationship Marketing

Slide 3:

Where’s the relationship ?

Slide 4:

Spend, spend, spend: where the money goes Shopping = 37 % of all money spent in England. US 70% GDP –consumer expense 5 million mobile phones thrown away each year in UK. The cost of an average handbag is £76, Average 30 yr old in UK owns 21 A new one added every 3 months. £9,000 on handbags over a lifetime. 50,000 Nintendo Wii consoles sold in the first 12 hours of release in UK Avg lifespan of an mp3 player is less than three years. Life cycle of mobile phone – 18-25yr olds =9months. UK box-office returns for Harry Potter 7 part II in first weekend = £22,992,045. Hyper consumerism - Think you love shopping? It's the marketing scam of the century

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Slide 6:

Innovative ways to purchase on impulse, drive the impulse to buy New customer profile – the KIDULT Infantile impulse Not sustainable Getting adults to behave like children The Peter Pan theory

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B2B2C ≠ 1-2-1 B2B2C = Directing your message to address clusters of consumers Building the relationships

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Disconnect between theory and practice 88% 7% 5%

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Current marketing activity – The marketing paradox

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Reputation risk Financial risk Loss of trust Comunication break down Social media virus effect Brand value sapped ROI harder to measure Risks to customer /supplier relationship

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When a customer’s voice is louder than yours …. Diminishing Control

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Customised email Personalised direct mail Social media initiaives Voice of the customer surveys Brand communities Public online communities Loyalty programs Affinity programs Special recognition prograls Knowledge building programs CRM – an essential below the line tool in Relationship marketing

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How trust has changed the rules

Slide 14:

Forrester Company research report 10 business trends Low trust economy The notion of trust

Slide 15:

Relationship marketing fundamentals

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But make sure that the campaigns are really talking with the customer and not AT him !

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New media voice has control over your image Diffusion of brand control outside company Domino pizza scandal Employees taking advantage of diffusion of data Customer impact HUGE Company reputation enormous Trust and sincerity required Diminishing control

Slide 18:

Before viewing prank video After viewing prank video After viewing apology video Go to Domino’s 29% 10% 20% Order Domino’s for delivery 46% 15% 24% Visit Domino’s website 25% 14% 24% Domino pizza prank

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Kitkat – production from palm oil products = deforestation Green peace advertising campaign Facebook community anger Nestlé deleting comments and agressive reaction to members Reputation loss Sales reduced over n+1 Nestlé scandal

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Slide 21:

Customers can see through messages Spray communication has little effect Company culture and behaviour identified Chat rools , online forums, instant access to financial reports More info means deeper research Companies must be coherent with vision and mission Era of hyper- transparency

Slide 22:

End of part 1 New terminology Attrition – loss of customer fidelity as they move to the competition A company’s bottom line – The line in a financial statement that shows net income or loss A vanilla brand – a brand that suits everyone – ie Coca Cola or Kellogs The mousetrap fallacy – being too focused on technology and not customer needs The Diderot effect – marketers strive to achieve this – buying products which customers love then become frustrated as they need to buy other products to match the original one ex: you buy a new pair of shoes, then your bag looks out of date, you buy a new bag then you need a new coat

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