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Marketing in the Digital Age - INSEEC Lecture by Chris Bland - March 2016

I was invited to deliver this lecture based on my career in marketing to the final year of INSEEC MBA class in March 2016.

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Marketing in the Digital Age - INSEEC Lecture by Chris Bland - March 2016

  2. 2. Agenda • The state of media • The state of brand marketing • The state of agencies • The waves of change • My career in marketing • How you should get started
  4. 4. The Rise Of Programmatic Media • Programmatic buying is the automation of media trading between media owners & brands • In the US, programmatic ad spend will reach $20.41Bn by 2016 , 63% of digital display spend, eMarketer • UK programmatic spend in 2016 will be £2Bn with Euro spend growing 25% in 2016, eMarketer • Global will increase to 50% by 2019, Magna Global • First display, then search, soon OOH, Radio and finally TV • So what? – Changes the rules of the game from buying content that people consume to buying people consuming content – Media owners are commoditised as data describing people is all powerful – Enables true 1:1 marketing undermining the traditional broadcast paradigm
  5. 5. The Single Customer View • A unique record holding demographic, behavioural, transactional and commercial information about a single customer • Enables understanding of full lifetime value rather than channel focussed session value • Requires a consistent and personal customer experience throughout the funnel • Blurs the distinction between channels & platforms • So what? – This is a beguilingly simple concept but incredibly hard to service in a siloed world – Requires technical and data mastery, customer empathy and predetermined or predictive responses
  6. 6. The Google/Facebook Duopoly • By 2017 Facebook and Google will control 65% to 70% of digital media spend in the US - $160 billion worldwide by 2017 • “The best and most effective media ever is Google search. The second best right now is Facebook. Effectively, they’re must-buys.” • So what? – It means every other digital media owner is now chasing a slice of the rest – with non-digital in their sights – Both systems are data “walled gardens” meaning that they do not allow full user data out which makes consistent user experiences difficult – Encourages users to choose one to manage all their personal data creating a data food chain with just two apex predators!
  7. 7. Adblocking • IAB UK’s Ad Blocking Report reveals that 22% of British adults online are currently using ad blocking software – a rise from 18% in October 2015 • The phenomenon grew 41% globally in the last 12 months • Stifling an estimated $22bn globally in lost advertising revenue in 2015 • So what? – People are confirming what we suspected all along: people hate advertising – Mass media, broadcast brand communication will be screened out and perpetrators reviled – 1:1 communication must take precedence and be generated by or earned by products that surprise and delight – Public brand comms must be approached with caution, skill and sincerity
  8. 8. Content & Native advertising • People have much more control over their media consumption • So brands (agencies) are trying to use content to woo consumer attention (inbound, social, events) • So what? – Mass adoption of content marketing has minimised its effectiveness – Native advertising (and now programmatic native) is the great new hope – Wait till the adblockers catch up
  10. 10. Advertising vs Marketing • At its best, advertising can – Enable content to be produced & consumed for free – Make valuable contributions to culture and society – Be a hugely enjoyable public spectacle • But, as digital media goes mobile it has become much more intimate, personal and productive • So what? – There is increasingly a tension between these two styles of communication – Digital is more about the product than advertising
  11. 11. Customer experience vs product promotion • The SCV, media personalisation and programmatic everything puts the customer in the centre of everything • The product will communicate less through advertising and more through product marketing • So what? – Brands should prompt conversation with themselves and between users/consumers – Brand partnerships that deliver enhanced combined functionality will speak volumes – Brand advertising will become the preserve of mass market products that cannot be personal eg FMCG when it will still offer questionable value for money
  12. 12. Full-funnel marketing • We have a SCV, unified content management and personalised media targeting capabilities • So, as marketers, we should be delivering an end-to-end, personalised experience to people • So what? – Marketing campaigns should target objectives related to specific areas of the funnel: Awareness, Engagement, Conversion and Retention – Campaigns effectiveness should be measured against KPIs that represent these objectives only – Campaigns should consider tactics from all channels to meet objectives
  13. 13. Measurement & data 1st • Successful campaigns become always on tactics • So campaigns are refined through data-lead optimisation not rebriefed • So what? – Briefing should only be used when there is no existing data available – The gut feel response should never again be the first resort – Measurement strategy is the strategy – Funnel-based measurement framework • Avinash Kaushik: See, Think, Do
  14. 14. Changes in the marketing department • Lack of digital resource (particularly at the senior levels) is a problem • But the blurring of data and objectives across channel, platforms and devices is stretching even the digital specialists • So what? – Digital and offline departments cause more harm than good – Structuring by funnel objective is better than by channel or platform – All channels platforms have something to contribute when ‘hacking’ a marketing challenge
  16. 16. Media vs Creative • Divided by the MadMen in the 1960s • Now being restitched together to meet the integration demands of digital • So what? – Clients have to brief media and creative separately with one side often taking precedence – Predictably, each side responds according to their perspective • Creative agencies prescribe more elaborate creative • Media agencies prescribe more (elaborate) media – Media owners are taking work from both sides
  17. 17. The role of the big idea in an era of scalable little ideas • It used to be that the big idea won the day • Post-mass media marketing big ideas are struggling with media fragmentation • So what? – Small improvements to effectiveness and efficiency can make big differences – Big ideas can come from product development, tech, business development etc not just marketing – Digital creative is increasingly being handled media owners familiar with their custom formats – Dynamic Creative Optimisation offer automated creative iterations using client data feeds, user behaviour feedback and even automated video product placement
  18. 18. Agencies vs In-house vs Consultancy • What’s the difference? • Ubiquitous programmatic is creating multi-channel campaign platforms • Automation & self-serve leads to disintermediation • So what? – Clients have more choice between long-term out-sourcing to agencies or in- housing versus short-term use of specialist consulting skills – Agencies are preparing to deploy under a variety of remuneration models – Where possible, performance-based remuneration is becoming increasingly common
  20. 20. The Role Of Data & Automation • Data has always contributed insight but now it is starting to drive the campaign in flight • Media planning now includes not just the strategy and the campaign forecast but also the tagging, the collection and the routing of data • The managing, optimisation and reporting of digital campaigns will increasingly be automated • Adobe, Google and others are all looking to provide multi-channel marketing platforms
  21. 21. Personal Data Brokers • People will look for solutions to combat the abuse of personal data and manage communication from brands • Major digital service providers will offer this service – Facebook, Apple, Amazon and Google – “Siren Servers” from Who Owns The Future? By Jaron Lanier • Adblocking services will also play a role here if they can build out their proposition, possibly in league with mobile network providers
  22. 22. Decentralisation through P2P • P2P (Peer to Peer) is network technology that is robust, trustless, decentralised, virtually free and extremely disrupting • The internet is the purest form of P2P tech liberating personal communications with web doing the same for public information • Cryptography and compression technology disrupted the media publishing industries • The blockchain took things one step further by enabling the decentralisation of money through Bitcoin • The next wave will be the deployment of decentralised law through smart contracts and DAOs
  23. 23. The Democratisation Of Work • Decentralised technologies are now starting to have a radical effect on work • High quality freelance skills are available globally 24/7 (Upwork) • Work hubs and Nomad working is creating cultures of migrant and remote but highly-skilled and highly-paid workers • Automated corporate services such as payroll, expenses, contracts, escrow and payment will fuel an increasingly fluid economy • Networking and collaboration tools are making remote teams function as smoothly as office-bound teams
  25. 25. Getting Started • Hang out with people cleverer than yourself • Sell yourself (but not too low) • Come across as both hard-working and fun • Say yes to everything • Read everything • Ride the waves of change
  26. 26. My career waves • Wave 1 - Digital & the DotCom bubble • Wave 2 - Following a passion for travel • Wave 3 - Search and digital performance • Wave 4 - Integrated, full-marketing marketing • Wave 5 - Looking beyond media
  28. 28. Don't look for a job, look for a meaningful challenge • A job won't be relevant for long – 50% of the most sought after job titles now didn’t exist 10 years ago • Solving a meaningful challenge has longevity • What are the meaningful challenges and who is tackling them? – Prepare a business for the next waves → every client – Marketing automation → Adobe, Oracle, IBM – Data brokers → Google / Facebook and Adblockers – Decentralisation → Fintech and LegalTech – Work democratisation → Create your own agency on UpWork
  29. 29. How to keep going? • Keep reading everything • Go to MeetUp groups on topics you are interested in • Sketch a five year plan • All realistic goals are achievable within five years • Unrealistic goals take five to ten years • Things change beyond prediction within five years • Be prepared to pivot!
  30. 30. Q&A
  31. 31. Thank You