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Traditional marketing

Industry Spotlight – Digital vs Traditional: What works best for you?

Print circulation numbers are down. On-demand and streaming services – sans un-skippable ads – are on the up. So what’s a marketer to do? Ditch the dinosaur channels and throw the entire budget at Larry, Sergey, Zuck and their contemporaries? Targeting, re-targeting and the ‘viral’ promise are all reasons to believe digital and social now reign supreme for the modern marketer, but in this we neglect to acknowledge the in real life (IRL) experiences and halting moments that also drive word of mouth and brand consideration – online or otherwise. So before you do throw everything at the digital plan, please ponder the following…

Magic in the mundane

If you haven’t heard the term ‘mindfulness’ this year then you’ve probably been living underneath the proverbial rock (and who would blame you in these turbulent times). It’s a reaction to our age of hedonism and the breakneck speed at which we’ve been living our lives, and like most trends, this desire to slow down and simplify is being reflected in publishing and advertising. In April this year, Ronseal decided to take a risk with a live TV spot which offered Channel 4’s Gogglebox audience three minutes of the unthinkable – watching actual fence paint dry. It was an inspired and effective product demonstration that earned them a trending spot on social media.

Stop the press

The digital evolution of the print industry is representative of the consumer’s move to more accessible, tailored and instant news without the barrage of irrelevant print ads. Despite the declining print figures, some brands still have the foresight to take advantage of reactive placements in bulk circulations, which often hit a captive, educated audience of commuters who will be reading cover to cover. Norwegian struck an extremely timely note in September this year following the news of Brad and Angelina’s break up, with a stark but cuttingly comic ad promoting their LA price promotion. The result: a viral campaign that puts it firmly in the hall of fame with Oreo’s ‘dunk in the dark’.

The great outdoors

Out-of-home and experiential marketing are truly challenging media. Bus wraps are hardly remarkable and being chased by a sampler at Waterloo while you try to catch your train isn’t entirely conducive to positive brand perception. The Economist challenges that notion. The publisher is infamous for its minimalist and innovative OOH creative, but it turned its hand to an unsettling on-the-ground activation in 2015 which was rebooted in the US this year. ‘High-protein’ is the new “on trend” claim for the food industry, and The Economists’ ice cream samplers achieved theirs by adding insects, the new proposed solution for the global food crisis which it covered in a ‘future of food’ feature. The campaign generated significant online press coverage and was branded ‘eye-catching genius’ by Business Insider.

The learning? Search for new value in formats that have become hackneyed and contrived. Opportunities to reach a cynical populace using these traditional methods still remain and can be extremely successful for the creative and confident marketer. Whether you’re aiming for ‘disrupt’ ‘be bold’ or ‘surprise and delight’ don’t miss the simple proposition with cut-through messaging that’s right in front of you.

Words by Nicholas Gill, founder and strategy partner at Team Eleven

Guest Blog, Nick Henderson: Traditional demographic data will always have its place…

Traditional marketing can refer to the channel that is taken, or it can refer to the technique that is used to determine what to market and to who. While the channel of marketing has been an obvious transition from postal to online, what hasn’t been so obvious is the rise of utilising digital, rather than traditional demographic, data to make marketing decisions. More than a third of marketers are looking to shift spend from traditional mass advertising to more tailored advertising on digital channels (Salesforce, 2015).

Firstly, it is important to stress that traditional demographic data will always be necessary. Certain services and products have a target audience limited by age, gender or location, for example over-50s insurance, gender-specific products, or location-dependent offers such as a restaurant chain with multiple locations.

With marketers reporting that customer satisfaction and customer retention rates are both key digital marketing metrics for success (Salesforce, 2015), it is even more important to keep up with the ever-growing demand for a personalised user experience. 70 per cent of consumers want a more personalised shopping experience, and 60 per cent of consumers are comfortable with their digital data, such as their interests, being used by retailers so that they can receive more relevant offers throughout the year.

While traditional data has its place in a modern marketing world, this alone is not sufficient to provide true personalisation to your consumer base, and it often fails, resulting in drop-offs during the buying process, and a reduced sense of brand loyalty stemming from feeling unvalued as an individual. Assuming that an entire demographic group all hold the same interests is a huge mistake that can cost you thousands of customers. Not every millennial likes coffee cups with their name on; not every female loves pink; and not everyone living in London wants to see a West End musical. Offers based on demographic data like age, location or gender can result in communications being impersonal and consumers feeling frustrated. Research has found that targeting more specific emails to smaller groups of consumers results in higher open and click rates.

A way that businesses can get around these restrictions is by utilising big data analytics. Big data is a term which refers to a large set of unstructured data that requires advanced analytic techniques to derive meaning. One way to put it would be considering big data as a goldmine – there is a lot of value there but it is useless without the correct tools to extract it. Big data analytics is the process of getting gold bullion from this gold mine – where the gold bullion is the meaningful and actionable insight.  Big data is by no means a new term utilised by businesses, and it has been discussed, and even invested in for a long time. What businesses seem to be missing, however, is the right tools to extract meaning from it.

As mentioned earlier, consumers are increasingly becoming comfortable with having their online data utilised in return for a more personalised user experience. When comparing the depth of consumer insight that can be derived from a consumer digital footprint to the amount that is utilised in traditional marketing techniques (which is usually limited to sociodemographic data), there is no question that it would enable more effective personalisation. With the right analysis, businesses can gain real-time insight into consumer personality, their hobbies and interests, their life events, and more, all on top of the traditional sociodemographic data, and this is what is required to make the consumer experience truly personalised.

It is unlikely to be the case that traditional data in marketing will become obsolete to businesses, and this data can be used in conjunction with more advanced data mining techniques to enable more personalised targeted marketing based on deeper consumer insights.

On top of personalised marketing, this insight can be used to pre-fill application forms, detect and reduce fraudulent transactions, asses credit risk and boost financial inclusion, and personalise products based on customer interests, saving time for customers and increasing the chances of them completing an application or buying an item.

It’s important to remember that the acquisition process and using targeted marketing is only the start. Following through the consumer journey can go a long way to building customer loyalty. Understanding consumer behaviour based on personality, interests, and life events provides key indicators of what products and services they might be interested in. For example, if a TV and internet provider has real-time insight into its customers’ life events, it could identify which customers are going to university and market their services as a student bundle, ideal for multiple users streaming at once. Likewise, a coffee shop could identify which of its customers have upcoming exams and offer them a revision such as ‘skip the library: get your second coffee free for a stress-free revision session.’ This is just one of an endless list of examples of how businesses can leverage big data insights to create a personalised user experience.

By harnessing the power of big data businesses can personalise the user journey from sign-up, throughout the entire relationship and adapt alongside their consumers’ ever-changing needs. Real and effective personalisation isn’t just offering a football fan football tickets, it’s about offering a football fan tickets to their favourite team on their birthday.

 

Nick Henderson

Nick.henderson@hellosoda.com

0161 694 9747

www.hellosoda.com

 

Nick has over 13 years’ experience in sales and business development in credit risk, fraud and ID. Nick joined Hello Soda in July 2016 during an exciting time of growth for the business, and focuses on one of our core big data analytics products, PROFILE Personalisation, enabling businesses to empower consumers by providing an individualised user experience based on unique real-time insights.