Marketing Transformation – Impact of Technology

Marketing transformation is the process of adapting and evolving a company’s marketing strategy to meet the changing needs of consumers and the market. This may include incorporating new technologies, shifting focus to customer experience, and re-evaluating the effectiveness of current marketing tactics.

As the business environment continues to change at a rapid pace, companies must stay agile and adapt their marketing strategies to stay competitive. In this article, we will explore the key elements of a successful marketing transformation, including identifying areas for improvement, developing a plan for change, and measuring progress.

We will also look at examples of companies that have undergone marketing transformation and the impact it had on their business.

Within every sector marketing transformation is taking place as a result of technology.

Examples of companies that have undergone marketing transformation in recent years:

1. Coca-Cola: In the early 2000s, Coca-Cola recognized that consumers were shifting away from sugary drinks and towards healthier options. In response, the company transformed its marketing strategy to focus more on promoting its healthier beverage options and reducing the amount of sugar in its drinks.
2. Procter & Gamble: In the 2010s, Procter & Gamble transformed its marketing strategy by placing a greater emphasis on digital marketing and social media. The company also shifted its focus towards more personalized, targeted marketing campaigns.
3. Domino’s Pizza: In the 2010s, Domino’s Pizza transformed its marketing strategy by focusing on digital and mobile ordering, and by highlighting the quality of its ingredients in its advertising. This led to a significant increase in online and mobile sales.
4. Old Spice: Old Spice transformed its marketing strategy in the 2010s by embracing humor and creating viral-worthy content. This led to a significant increase in brand awareness and sales.
5. Starbucks: In 2020, Starbucks transformed its marketing strategy by focusing on sustainability and social responsibility. The company also shifted its focus towards digital channels and e-commerce to reach customers during the pandemic.

These are just a few examples of companies that have undergone marketing transformation in recent years, and there are many others. The key is to be flexible, responsive to market changes, and to be open to trying new things.

From cloud computing with smart phones which puts super computers in the pocket of a massive quantity of users ( or the ability to watch daft videos on TikTok).

This now provides the opportunity to reach anybody at any time (through a wide variety of communication media – telephone, e mail or any of the appropriate social methods).

This can be seen as beneficial as research indicates that 6 to 8 touch points are still required to educate and inform the customer as they move through the buying process.

Marketing Transformation – Today’s Customers Are Immune

• There is so much noise and miss information today’s buyers require more conviction
• Over 70% of buyers start the buying process with a generic search on a search engine (Google being the search engine of choice for over 90%)
• So B2B buyers are doing their primary research and investigations and doing it for themselves. So its absolutely vital to make sure that the self search information is valid and clearly differentiates you

Content Marketing

It has been recognised for some time that quality content marketing is a required marketing activity, following this rationale

• The company creates high quality content
  • Potential buyers find this content and digest
    • Ideally they then go on to make a purchase

A vendors website is the most important source of information when researching and evaluating technologies and processes

B2B Conference May 2021

Listen First For Great Marketing

In B2B good marketing should be a conversation between the buyer and the selling. In order to optimise this process the art of listening needs to be gained prior to the discussing and selling that will need to take place. Unfortunately all to often talking occurs too quickly and often at the wrong time.

Lets look at the 3 stages

• Listening
• Discussion
• Selling

1: Listening

The reason and importance of quality listening cannot be understated. You are listening to gather information. If you are looking to develop a relationship and make a sale unless you know what the “pain and issues of importance” to the customer, how will you be able to offer any suggestions

• When listening the most important element is to shut up and actively listen. You have two ears and one mouth they should be used in that ratio.
• Absorb the information, take it in and store it. Respond with the information in a way that makes them feel as if you have understood (this will then make them feel special and valued)
• Connect on a human level without business in mind – ultimately many products or services are very similar so its often about people and relationships
• When listening look for problems to solve

2: Discuss

This is the part of the process where you need to convey your understanding of all that listening. Reflecting back to the customer “this is what I think you were”. This is a critical stage as you need to make sure that you have understood correctly

• Note : If the customer interrupts then you need to revert back to listening mode
• Importantly you need to be preparing for “sales” mode

3: Sales

So now might be the opportunity for sales mode alternatively now could be the time to plan the next stage of listening and discussion.

If sales mode is appropriate then be sure to have a value proposition available that meets your understanding of the customers needs

Listen First For Great Marketing – Two Tips

1: To connect at a human level sometimes a prop can help. Perhaps you wear a club tie, or have a badge that reflects your hobby or passion. This prop may help encourage a human level intervention before you start listening business
2. The following four letter acronym might help “WAIT” -.

Always be considering – “Why Am I talking”

The benefits of marketing transformation

There are several benefits of marketing transformation for companies, including:

1. Increased competitiveness: By adapting to changing consumer preferences and market trends, companies can stay ahead of their competitors and maintain a competitive edge.
2. Improved customer engagement: By focusing on customer experience and personalization, companies can improve the way they engage with customers and build stronger relationships.
3. Increased efficiency: By streamlining processes and incorporating new technologies, companies can improve the efficiency of their marketing efforts, resulting in cost savings and increased ROI.
4. Greater flexibility: A transformed marketing strategy allows companies to be more agile and respond quickly to changes in the market.
5. Better measurement and analytics: By focusing on data-driven marketing, companies can improve the way they measure and analyze the effectiveness of their marketing efforts.
6. Brand awareness and perception: By focusing on brand awareness and perception, companies can improve the way customers perceive the brand and increase the chances of brand loyalty.
7. Increased revenue and profits: By improving the effectiveness of their marketing efforts and reaching new customers, companies can see an increase in revenue and profits.

Overall, marketing transformation allows companies to stay relevant, responsive and efficient in their marketing approach, and it can lead to significant improvements in the company’s overall performance.