What Really is Customer Experience?

Finally started my own podcast after contemplating it for a long time. I hope to add value to everyone that listens to it. My fist conversation is with Jake Sorofman, VP of Research at Gartner. Hope you enjoy it! This is my first one so it can only get better from here.

We talk about Customer Experience and Why You Should Care!

Marketing Leaders Podcast (2)

 

 

Loving Marketing Podcasts

I commute to work everyday which takes me a total of 2 hours (1 hr each way) on the road a day. What to do with the time? I used to listen to music and talk radio until I realized I have to start doing something productive with this time. The podcast resurgence started happening about the same time (3-4 years ago) which was perfect. I discovered so many marketing podcasts at that time which was AWESOME.

I made sure I listen to them religiously everyday I was in my car. Here is a quick snapshot from my phone of just of some of them:

IMG_1968.PNG

What has this helped me do?

  • Stay on top of the current marketing trends

  • Think outside the box

  • Find influencers in the marketing world

  • Polish my digital marketing skills

  • Make me wiser

I am even thinking of starting my own soon since I work at one of the most prestigious analyst firms in the world and can talk to some great marketing analysts. Might be time for me to start adding value to this craft as well.

So what are your favorites?

Manpreet Jassal

@mjassal

(Thank you Seth Godin!)

 

 

 

 

 

 

The 4 A’s, C’s, E’s and P’s of #DigitalMarketing

Anyone that first formally started learning about marketing is familiar with the 4 P’s. Edmund Jerome McCarthy introduced the Marketing Mix which we now know as the 4 P’s. Professor Philip Kotler (who I love) popularized the 4 P’s even more in his 1967 book called The Principles of Marketing, which is now in its 16th edition. Here are the the famous 4 P’s:

Productitem that satisfies what a consumer demands

Price amount a customer pays for the product

Placedistribution of the product

Promotionmethods of communication that a marketer may use to provide information to different parties about the product

But now marketing is going through a paradigm shift and some are calling for these to be reinvented and change part of the mainstream thought process mix. Jagdish Sheth, Professor of Marketing in the Goizueta Business School at Emory University, wrote in 2011 a book titled “The 4 A’s of Marketing: Creating Value for Customer, Company and Society.” Robert F. Lauterborn, Professor of Advertising in the School of Journalism and Mass Communication at University of North Carolina wrote in 1990 about the 4 C’s of Marketing. Brian Fetherstonhaugh, Chairman and CEO, OgilvyOne Worldwide wrote in 2009 about the 4 E’s of Marketing.

Here is my breakdown of the A’s, C’s, E’s and P’s:

Acceptability—>Consumer—>Experience—>Product

Affordability—>Costs—>Everyplace—>Place

Accessibility—>Convenience—>Exchange—>Price

Awareness—>Communication—>Evangelism—>Promotion

The 4 A’s: Acceptability, Affordability, Accessibility and Awareness. According to Professor Sheth, “the 4A framework derives from a customer-value perspective based on the four distinct roles that customers play in the market: seekers, selectors, payers and users.”

The 4 C’s: Consumer, Costs, Convenience, and Communication. According to Professor Lauterborn, you have to start studying Consumer wants and needs, understanding their Cost to satisfy that want or need, thinking about Convenience to buy and communication that creates a dialogue.

The 4 E’s: Experience, Everyplace, Exchange, and Evangelism. According to Fetherstonhaugh, you have to stop thinking just about your product and start thinking about the full Experience, intercept consumers on their turf and on their terms, and that could be anyplace or Everyplace, offer your consumers something valuable in Exchange for their attention, their engagement and their permission, all to inspire your customers in becoming Evangelists for your brand.

All of these mixes have one thing in common: Creating “Value” by looking at marketing through the lens of the Customer.

I am sure there are more 4 letter marketing mixes out there but I really liked these because they are customer-centric. The 4 P’s for me stand as the foundation of any effective marketing campaign. Realizing we do have to speak the in the language of the customer I think the 4 A’s C’s and E’s are a great way for the modern marketer to get started in a world where demand for inbound/content marketing is increasing to provide a valuable customer experience.

Originally posted on LinkedIn on March 16, 2015.  

Manpreet Jassal

@mjassal

The Best Marketing Advice I’ve Ever Heard

I am a huge fan of the Content Marketing Institute (CMI) and I believe that Joe Pulizzi and Robert Rose have been doing a phenomenal job of bringing insightful thought leadership around content marketing to marketers around the world.

I was reading a blog post on their site last week and they were interviewing Robert Rose and it gave me one of the wisest, most sound marketing advice I have ever heard. Just to let you know Robert Rose is the Chief Strategy Officer at CMI and he was talking about his new book coming out called Experiences: The 7th Era of Marketing.

They asked him what was the most valuable advice you have given personally or professionally? He told them that his grandfather was a wealth of information and advice and years ago he shared this wisdom with him:

What experience have you created for somebody lately?

After I read that I thought to myself wow I can’t believe how amazing this is! I paused and thought about it for a minute. You can use this advice for so many areas in your life not just marketing. But since I had my marketing hat on (or turban) this is probably the best marketing advice I have ever heard.

Every day that goes by marketing now is becoming more of a customer approach, experience and service than just advertising. The way people want to be approached, engaged, acquired, and retained all relates to the experience your brand provides for them. Take any brand in the world, when customers think about them they relive the experience in the mind. Our job is to create the best possible experience we can through all the channels available to us in this digital business era. Going through that experience you learn a lot about yourself and your business.

My Instant Change: The steps I now take in formulating my marketing strategies should have a great and meaningful answer to the question “What experience have you created for somebody lately?”

Thank you Robert Rose’s grandfather!

Manpreet Jassal

@mjassal

Why every #DigitalMarketer needs to be on #Twitter

“Advertising people who ignore research are as dangerous as generals who ignore decodes of enemy signals” – David Ogilvy

Now, I know what you’re thinking “Hey, I’m a great marketer because I increased sales last quarter and my engagement was up. Why do I need to care about Twitter?”

I get it and I totally understand where that question is coming from but that is not the reason you need to be on twitter. Most marketers who are on it just use it to push and distribute content. How many are engaging? Networking? And most importantly listening? This is basically a new way to do market research.

Twitter has become a distribution platform more than an engagement platform. Marketers need to start using it more to help build a relationship with their clients and prospects. Listen to any social media expert out there and they will tell you the same thing.

But let’s go back to that original person’s point saying “hey, I’m a marketer and I’m doing really well and I’m not even on Twitter.” My question to you would be then how are you listening to your clients or prospects? Researching on twitter is a great way to get real time information on your market. Now I am not saying start tweeting, retweeting and talking to every single person. I am asking you to start listening to the people that could be your clients and prospects and to see what they’re talking about and start engaging with them. If you are making 5x year over year in revenue right now, wouldn’t 7x be better? I think Twitter can help.

Did you know if you own a local coffee house or craft beer house you can actually see if people are talking about any of them in a 5 mile radius of your business? Using different hashtags you can listen to conversations about #Coffee or #CraftBeer in your local area. Maybe jump in the conversation just to help them or agree with that they are saying. Don’t sell your product right away, just talk to them to build a connection. Overall goal is to build a relationship with your community.

I use Twitter to listen to people all the time, engage with marketers to see what they’re thinking and learn from them. So the next time I push out content I can relate to the community even more. Twitter is just going to get bigger and bigger and especially with the new video platform that came out which is going to take eyeballs away from YouTube.

If you don’t have a Twitter account or if you do have one but are not active I encourage you to get active on it. Just start listening to your audience and see what they’re talking about it hopefully you can help build a connection and a relationship with them that overall would benefit you and even more benefit them. 

Manpreet Jassal

@mjassal

1 Law and 2 Quotes I think about Every Single Day

I feel like I have been a marketer my whole life. Everything I do today doesn’t even feel like a job anymore because its part of who I am. That being said, there is 1 marketing law and 2 quotes that I think about every single day. I don’t try to think about them at all but they have become part of my DNA.

So Al Ries and Jack Trout wrote a book called “The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk!” The law that hit me hard right away was:

The Law of PerceptionMarketing is not a battle of products, it’s a battle of perception.

The basic concept being all that exists in the world of marketing are perceptions in the minds of the customer or prospect. The perception is the reality. Everything else is an illusion. It doesn’t matter if product A is better than product B, if consumers think product B is better, facts don’t matter. This is why Apple has taken over in phone sales this year even though Andriod had more features and benefits years ago. Its very hard to change perceptions.

The 1st is from David Ogilvy who I (and most people) think is the Father of Marketing. He has written many books which are still a part of many marketers top ten lists. Ogilvy has so many quote attributed to him but my favorite is:

If it isn’t creative, it doesn’t sell.

Every time I look at a creative the first thing I think about is, “will this help me sell more of X, Y, Z?” Yes, the creative needs to look amazing but if it doesn’t get the message by engaging you in a further conversation, then it really doesn’t matter.

The 2nd quote is from Peter Drucker. What can I say about him, he is known as the “Founder of Modern Management.” When I first heard this in a keynote by Jack Trout several years ago, I went and read about Drucker. I love the way he said this, not even one word is out of place here:

“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

Trying to be unbiased here as a marketer but Drucker got it right. If you think about the biggest companies in the world right now they are doing these two things: Innovating and Marketing (i.e. Google, Amazon, Apple, etc) Even Professor Philip Kotler said that the basic function of marketing is to “create jobs.” I encourage you to read all of the books by these great men and hopefully it will shape your marketing DNA as well.

My conviction is that companies that really follow these things consistently year over year will have a bright future ahead of them.

Manpreet Jassal

@mjassal

How Vanguard does “social media” better than most companies @Vanguard_Group

I started investing last year after doing many months of research on where I should put my money. I ended up going with Vanguard and could not be happier. I am a big fan of indexing and fortunate enough to have Vanguard index funds in my 401k at work. (BTW, I recommended that everyone have index funds in their 401k – you can thank me after 25 yrs)

Being a marketer, I definitely follow Vanguard on Twitter and Facebook to see how a financial powerhouse like them use social media.  To my surprise, they are awesome. Social media is all about customer engagement but most companies use it as just another distribution channel. Social is all about engaging with your user base.  Getting feedback, answering questions and thanking your users from time to time is what its all about! Of course you want to push your content through social channels but it should only be about 20% of what you should do.  Vanguard has it all right.  I have asked questions through twitter, commented on Facebook, asked for some SWAG through these channels and received a response within 24 hours (and also my swag within a week). They always end the conversation with saying thank you to me for engaging with them.  They do A LOT more but I would encourage you to engage with them to find out for yourself.

The best surprise so far:  I received a thank you card from them for engaging on Facebook. Which is a great idea and was shocked to see it in the mail.  Even more shocking they gave me an extra blank thank you card with a note saying:

“Pay it forward! Use this extra note to thank someone who has inspired you to be a better investor!”

Image

How cool is that?  I would of never expected to get anything from them but it was cool to get a handwritten note mentioning my Facebook interaction signed by the person who I was connecting with at Vanguard. 

Vanguard my hat goes off to you for making me a better marketer. Keep on doing your thing.. I will always be a customer and a fan.

Thank you for doing social right! #Vanguarding

@MJASSAL

The Future of Marketing is bright! (and some factoids)

The future of marketing is bright, very bright!

I am fortunate enough to work for the largest technology research company in the world: Gartner

The biggest Symposium in the company’s history happened last week and I got to be a part of it. Met the worlds most insightful and sought after analysts. Attended some amazing sessions on future tech/marketing progress. Very cool week.

Marketing is going to be ruling technology. Its fascinating. Marketing is leading the way and technology has not other choice but to follow and keep up.

New emerging role: Chief Marketing Technologist 

Some of my favorite factoids of the week from the Symposium: 

  • Google’s ad revenue surpasses the entire U.S. print industry
  • Amazon’s warehouse space would fill over 700 Madison Square Gardens
  • 55% of consumers share their purchases on a social site
  • Truth in advertising: only 14% trust advertising
  • Google pockets half of all mobile ad spending
  • Greatest obstacle to digital transformation: lack of vision to define corporate strategy

@MJASSAL