Compete, Inc. Reports Conclusions From Marketing Thought Leaders; World Class Brands Explore How to Market to the New Digital Consumer.
"The Internet has unleashed a new digital consumer who is market savvy, self informed and armed with personalization tools such as blogs, TiVo and satellite radio," said Don McLagan, CEO of Compete. "Difficult to target with a single message or medium, this catalytic consumer is changing marketing. However, by treating this new consumer as an equal, leading marketers are engaging in a personal and relevant dialogue that builds both customer trust and brand loyalty."
Conclusions from the day:
--Consumers are in control: The morning's keynote speaker, author and W2 Group Chairman and CEO, Larry Weber, described a new marketing category, "Consumer-to-business (C2B) marketing happens when consumers control the way marketers talk to them. In this new landscape, traditional means of marketing will move to the peripheral area of communicating with customers, and marketers will turn to the digital environment to foster dialogue."
--Marketing is being disrupted: Because marketing is changing, Bonita Coleman Stewart, Director of Interactive Communications at DaimlerChrysler, believes it is time to add another "P" to the traditional marketing mix of product, price, promotion and place. "The marketing functions are still organized in separate silos, inhibiting marketing technologies from working for us. The opportunity for marketers today, is the whole notion of Process. We need to become skilled at the process of integrating our marketing messages. The Internet is the integrator of this Process and the foundation of this 'Fifth P.'"
--New marketing solutions are required: Vice President of Upromise, David Coppins, has made some changes, "Our marketing needed to change so we started developing predictive models, which have provided us great opportunities in personalization. Now, we are working with Compete to develop a real-time, interactive tool that works to get the right offer to the right person at the right time."
--It's time to redefine the customer relationship: Wenda Harris Millard, Chief Sales Officer of Yahoo!, delivered the afternoon keynote, "The marketers' great challenge today is not about reaching people, but about connecting with them. We need to think about consumer behavior in an always-on world where sound bites are no longer enough. Now we need the whole story to develop these connections."
A summary observation by Larry Weber:
"Today's consumers are in more control than ever, as they move from medium to medium, determining how, when and where brands communicate with them," observed Larry Weber. "The best companies are practicing constituency management deep within digital channels such as micro sites, blogs and social networks. For companies that understand how to foster stronger dialogue in these channels, at the micro segmented level, the outcome is a stronger brand and more loyal customers."
To request a CD with audio recordings and presentations from the event, contact Donna Murno at email@example.com.
About Compete, Inc.
Compete provides the earliest indication of actual consumer behavior available, which gives clients the information needed to improve the effectiveness of customer acquisition, servicing, cross-sell and retention. Compete has proven that online data on consumer behavior is a predictive indicator of total demand and purchase intent - both offline and online. Compete leverages its database of the daily behavior of more than 10 million online consumers to offer predictive analytics, which Compete's industry experts interpret to provide clear recommendations for action. Since launching its services Compete has provided major auto manufacturers, financial services companies and wireless carriers with a unique vantage point on their customers and competitors not previously available. For more information visit http://www.compete.com.