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The power of communities Roderick E Wilkes – Chief Executive DipM, Hon FCIM, FIOD, FCMI, FRSA, FCAM, Chartered Marketer The Chartered Institute of Marketing - A not-for-profit organisation incorporated by Royal Charter established in 1911. - We are the leading international professional marketing body, with members worldwide - We exist to develop the marketing profession, maintain professional standards and improve the skills of marketing practitioners - We do this via Membership, Professional Qualifications and providing Training, and a comprehensive CPD programme - Only professional marketing body in the world that can grant individual Chartered Status to practitioners - Associate member of the Association of Business Schools - Member of the European Marketing Confederation - Our qualifications are accredited by Ofqual (previously QCA) and the Open University Credit Rating Service. The Chartered Institute of Marketing - World’s leading professional body for marketers Approx 50,000 members in 138 countries 4,500 Chartered Marketers Offices in UK, Sri Lanka, Hong Kong, Singapore, Malaysia, Kenya, Ghana and a strategic alliance in Cyprus 52 branches, regions and interest groups across the world Internationally recognised qualifications in both marketing and sales 300+ study centres around the world Leader in the development of the National Occupational Standards 135+ sales and marketing training courses Comprehensive conference facilities Our evolution 1911 Sales Manager’s Association Marketing Code of Practice Incorporated Sales Manager’s Association 1st Certificate Examinations Correspondence courses - Sales Management 1928 1939-1945 1921 First Industry The Institute of Interest Group: Construction Industry Marketing Diploma introduced 1968 1971 1961 HRH The Prince Philip, Duke of Edinburgh Becomes Patron 1952 The Institute of Marketing and Sales Management 1960 1975 Royal College of Arms 1975 Authorises ‘The World Is Our Market’ Her Majesty the Queen Awards the Royal Charter CPD programme launched 1989 1993 International Operations begin 1994 First graduation ceremony 1996 Business Superbrand 1998 First Chartered Marketers 2005 Founder member of the now 1955 European Marketing Confederation Our purpose The Institute aims to be the Heart of Marketing. Our mandate is to give the marketing profession a place to: LEARN DEVELOP BELONG Learn To be the first point of call for formal marketing learning. The Institute has two channels of formal learning delivery: Specialist qualifications Formal tailored training Marketing qualifications Marketing & Sales quals CIM Delivered HEART OF Third Party MARKETING Channel LEARNING Delivery CAM Formal open training Accreditation/ Dual awards 1. We deliver the highest quality practice-based awards through our UK and International study centre network 2. We are a centre of excellence for training and awards in marketing and sales delivered directly by The Institute World class qualifications Range of marketing qualifications and training - Our core qualification portfolio - Digital marketing and sales qualifications - Vast range of training courses Various delivery methods - Virtual classrooms through CIM Academy - Extensive centre network Develop To be the first point of call for marketing information, knowledge and insight -To develop practitioners -To develop the profession - Promoting the benefits and importance of Continuing Professional Development as an essential personal and professional responsibility KNOWLEDGE VOICE RESEARCH HEART OF - Engaging with Government and other key groups to ensure the promotion of marketing as an essential business discipline MARKETING - Delivering a wealth of marketing best practice content to the marketing community and business DEVELOPMENT VOICE INFORMATION STANDARDS STANDARDS - Delivering information and insight regarding key issues and future considerations to the profession Continuing Professional Development To date: - Programme has registered 14,954 individuals - Includes 5,062 Chartered Marketers - 34% of members involved in CPD The CPD portal allows members to manage and record their CPD via the CIM website which has 48% take up rate Thought leadership In search of a strategic role for marketing - A benchmarking study in partnership with Accenture. - Return on Ideas research partnership with CIMA and DMA Shape The Agenda papers - Marketing and the Olympic Games - Social Marketing White papers - The Future of Marketing -Metrics and Marketers in the NHS - Marketing in a Recession Belong To be become the home of marketing communities Studying Member Community Opinion Formers Learners (HEI) Communities Chartered Marketer Community Our Communities HEART OF Linked MARKETING Communities COMMUNITIES Members (practitioner) Community Corporate Community Other Professional CAM Communities Wider Accreditation/ Business Dual awards Communities - We will facilitate the largest community of marketing professionals in the world - The Institute will evolve to develop a range of communities that allow us to engage with the marketing profession on a number of levels. - Professional Membership is still core to our business, but there are many other opportunities to develop additional communities to widen our reach. Communities In the last year.... – Professional membership growth currently 1% – Strong growth in professional membership overseas (7% growth) – Kenya 23% growth – Sri Lanka 16% growth – Ghana 13% growth – 18,000 student members – Through our contact centre we engage with over 110,000 individuals – Information Services team recorded 284,000 information downloads last year – In 2008/09 the website received 1.3m hits (715k unique) – 1,664 positive mentions in the media (EAV £2m) – 80,000+ online readers of the marketer – Attendance at Regional and Branch events rose from 10,000 to 12,000 The future of marketing... Key questions for the profession: – With the increasing availability of information, how do marketers ensure that they are using the right information to gain the right results? – With the increasing subtleties involved with the practice of marketing, do marketers increasingly become stakeholder managers? – How does the advancement of technology change a marketers role? Is it simply ‘old rules, new tools’? The future of marketing... Key questions for the profession: –Does technology enhance good marketing or simply hide the defects of bad marketing? –Why is marketing still not taken seriously as a boardroom discipline? –Why are there so many books about marketing and so few about selling? –Is the future of marketing one where we focus on behavioural change instead of encouraging consumption? The future of The Institute... Key questions for us: – What does a 21st century Institute look like? – How do we continue to represent/support both the profession and our members? – How does the advent of social media change the approach that Professional Bodies take? Marketing in a recession Frame of reference - marketing? • Right offer Marketing • Right customer • Right message • Right channel Marketing communications • Right time • Measured Good business practice! Audience participation! Are you... 1 Optimistic about new opportunities for growth, innovation and customer acquisition for 20010-11 2 Pessimistic and worried about what 2010/11 holds and how long this will last 3 On the fence - going to wait and see how the next six months pan out Turbulent times Key principles to help marketers and their organisations Applicable to public and private sector, across industry verticals and firm size A lasting legacy 1. A lasting legacy Challenges • ‘Back to normal’ just won’t be back • Key hallmark of this recession Responses • Embrace re-using rather than consuming • • Capital/credit less available • • • Individuals and businesses Customers now refocusing on a new definition of what constitutes ‘value’ Customers still spending, but... • Now in need of more compelling, persuasive reasons to do so • Added benefit of a more responsible, sustainable approach Don’t wait for ‘normal’ to return • • • Use short term tactics to inform your future Seek out opportunities to align with a redefinition of value Redefine the core of your offering Visibility 2. Visibility Challenges • Reducing spend risks invisibility • • • • Short term silence/reduced activity can have a long term impact A silent brand risks further malaise by word of mouth • Responses • Revisit and prioritise core objectives [Unfounded?] perceptions of failure • Are your marketing plans aligned? • Are other media options available? Cutting marketing investment today • can provide competitive vulnerability • If your activity reduces, competitors’ will increase in relative terms, even if they don’t increase spend Retention? Awareness? Market share growth? Can you renegotiate rates with marketing services suppliers? 2. Visibility Example - airline industry • 9/11 attacks brought many airlines marketing spend to an abrupt halt • • Assumption that customers would dramatically reduce flight purchases Ryanair embarked on aggressive (and sustained) marketing campaign • • Revenues increased >20% pa since +457% (2001-08) Pax no’s increased >19% pa since +528% (2001-08) Source: Airline Business Survey on 2009 marketing budgets Lessons from the past Lessons from the past McKinsey study - 1990/91 recession • The companies who increased their spend in a recession were the only ones whose profits rose substantially when the economy recovered – Top quartile of companies overspent peers by 9.2% We’re on your side 3. “We’re on your side” Challenges Responses • Customer centricity/affinity never • Speak to key customers more important • What are they going through? • ‘Doom and gloom’ • Confidence is low • Trust is under question • Empathy doesn’t have to mean discounts • Explore how you can show sensitivity to build loyalty • Promotions on price/volume • Restructured product/service offers • Retention offers to retain dialogue at lower spend levels Differentiate 4. Differentiate Challenges • Differentiation always been key in commoditised markets - now even more so Responses • Macro issues shaping markets are long term trends, not fads • • Differentiators require thought from the customers’ point of view • • The current market dynamics can be used as an opportunity to establish a stronger position Also keep track of competitors and their strategies • Avoid the temptation to copy them Revisit what constitutes ‘value’ • • Rethink your offer/proposition Explore solutions across the value chain Adapt 5. Adapt Challenges • ‘Normal’ won’t be familiar when we emerge from this period Responses • Avoid ‘marketing myopia’ • • Customers’ are still spending, just in different ways • EG: automotive spare parts retailer • • Retention of second hand cars could create new segment EG: computer hardware supplier • ‘Downsizing’ and office moves create potential new service offering Be clear on your competencies • • Revisit your definitions of ‘market’ and ‘opportunity’ Don’t write off defecting or value negative customers/segments • • Assuming core needs still exist, what are they trading down or defecting to? Do your competencies align with these new alternatives? Don’t count on discounting 6. Don’t count on discounting Challenges • Cutting prices an obvious response • • A price reduction today compromises price sensitivity tomorrow Responses • Don’t take your eye off competitor responses to the economy • Cost cutting cheaper than investing in marketing? • • • • Short term profit defence only • Past campaign impact undone Maintaining SOV improves longterm profitability Maintaining SOV repositions against competitors not doing so Seek out low cost/high value augmentation to product/service offerings Are customers looking to reduce spend, or reduce risk? • • How would you approach this? Talk internally to sales, service, distribution, finance to explore cross-business solutions Technology 7. Technology Challenges • Technology has transformed marketing over the last decade • Technology a low cost way of communicating in a downturn • Online response more effective • • • 20% more conducive than average Telephone response 16% less likely Personalisation makes response 14% more likely Source: CDMS Examples • Toolkit Websites • • • E-Marketing SME Introduced e-newsletters to maintain dialogue in current climate Drives greater enquiries 7. Technology Responses • Technology a great opportunity • • • Reduces Direct Marketing costs Supports a sustainable philosophy Positions businesses as innovators/ contemporary Responses • Measurement is critical • • Be wary of effectiveness • • Find out what online media your segments are exposed to • • Facebook, LinkedIn, Twitter etc Explore how to leverage and measure! • Make sure you know what works first! Avoid wholesale changes to media channels without testing Don’t be cavalier • • • Be sensitive to ‘bombarding’ Be clear on objectives Maintain an ethical approach respect data protection and privacy legislation In conclusion Final thoughts Provided marketers can demonstrate how marketing fits in with the broader strategic aims of the organisation, they will have a strong case against panic cuts and for investing in the very people who can prevent the gap between you and your competitors increasing. Final thoughts The most important thing marketers can do during a recession is ensure that every bit of budget is spent wisely. This is true in expansionary times, but becomes critical in slowdowns. By all means, allocate marketing spend differently, but don’t slash it.