The consumer decision journey - McKinsey Quarterly - Marketing - Strategy

If marketing has one goal, it’s to reach consumers at the moments that most influence their decisions. That’s why consumer electronics companies make sure not only that customers see their televisions in stores but also that those televisions display vivid high-definition pictures. It’s why Amazon.com, a decade ago, began offering targeted product recommendations to consumers already logged in and ready to buy. And it explains P&G’s decision, long ago, to produce radio and then TV programs to reach the audiences most likely to buy its products—hence, the term “soap opera.” Marketing has always sought those moments, or touch points, when consumers are open to influence. Interactive Exhibit 1 In the traditional funnel metaphor, consumers start with a set of potential brands and methodically reduce that number to make a purchase. Enlarge We developed this approach by examining the purchase decisions of almost 20,000 consumers across five industries and three continents. Exhibit 2 Exhibit 3

Stockholm Waterfront - ert nätverk suger! Nu får det vara nog. Framöver kommer jag att aktivt hänga ut alla konferensanläggningar som inte kan leverera ett fungerande nätverk. Stockholm Waterfront, ni har grymt läckra lokaler och arrangemanget som Internetworld fixat är magiskt. #webbdagarna rockar. Men det är inte ok att nätverket på fina Stockholm Waterfront inte fungerar. Så sluta snacka slogans som ”a venue where everything is possible” och se till att börja leverera istället. Fotnot, Stockholm Waterfront är inte alls ensamma – trasigt wifi är ett återkommande tema. Uppdatering: @Tbjorkegren påminner om att det var kris under S-kongressen också.

Speed Summary | HBR on Social Media & New Rules of Branding This month’s Harvard Business Review has a spotlight on social media and branding, with a stand out article by McKinsey, based on a global study of 20,000 consumers. In a nutshell, the article argues that many brands are spending their marketing budgets in all the wrong places, based on an outmoded “funnel” marketing model – and proposes an evidence-based alternative. The article by David C Edelman – McKinsey Global Digital Marketing Strategy, and entitled “Branding in the Digital Age: You’re Spending Your Money in All the Wrong Places“ can be accessed here (pay-wall), but below you’ll find the speed summary, with implications for social commerce – we think it’s useful. And if you don’t have time for that, here’s the summary of the summary Branding in the Digital Age: You’re Spending Your Money in All the Wrong Places. David C Edelman – McKinsey Global Digital Marketing Strategy From an accompanying McKinsey Quarterly article: The Consumer Decision Journey From this… …To this

Network Effects and Pricing Models in the Social Enterprise - ReadWriteCloud Like any other social network, the value of an enterprise social network is tied to the number of active users. In general, the more users the more value - more knowledge shared, more questions answered and more connections made. In this case, does the per-user pricing model of many enterprise social software tools make sense? Enterprise microblogging provider Socialcast doesn't think so, and today the company announced a new pricing plan to deal with that fact. "Our most successful deployments are those that are enterprise-wide and boasting the largest, most comprehensive internal networks," Socialcast CEO Tim Young writes. Socialcast will now offer an enterprise-wide license that will let organizations pay a single annual fee for the product without worrying about how many users are being added. The company will include its Reach extension, which we covered last year. Will flat pricing encourage companies to roll-out social features to more employees? Socialcast was founded in 2005.

Decoding the Consumer In the 1950’s, on the children’s live-action adventure Captain Midnight, the Secret Squadron was chartered to combat evil. Squadron members used special decoder rings to decipher messages that no one else could understand. The secret decoding power provided a competitive advantage that allowed the Secret Squadron to triumph over their opponents. Wouldn’t it be great if you could slip on a special marketing decoder ring to decipher your prospects? Alignment with the Consumer Buying Process The customer experience is influenced by all touch points people encounter from moments before they are aware of a need until they have fulfilled that need. 1. 2. 3. 4. Decoding the Future … Search – Social - Mobile As consumers attitudes and expectations change towards the companies they do business with, linkage between the customer experience and the consumer buying process becomes more crucial.

Facebook Now Lets You Turn Your Profile Into a Business Page Facebook just introduced a subtle tweak to its user experience: Personal profiles can now be quickly and efficiently converted to business Pages, turning your friends into fans. Facebook is realizing, it seems, that a good way to future profits is to court industry partners. With the launch of a new migration tool, Facebook is letting single users around the world create a more business-centric, limited form of Facebook entry that allows business to have thousands of "fans" rather than acting as an interactive friend resource. There's an extensive help center and FAQ page for people considering the act to download and save data from their existing profile (because once converted, there's no way back...and a Page has a more limited searchability and utility than a Profile). Why would people want to use the tool, though?

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