Hanze Marketing Management Lecture 5 - PDF

Marketing Management School of Business Marketing and Finance MARCOM Block 2 | Week 2.5 Lecture 5  PLANNING Practice in class (...

Marketing Management School of Business Marketing and Finance MARCOM Block 2 | Week 2.5 Lecture 5  PLANNING Practice in class (in groups): Period Lecture THE HANZE CASE STUDY Identify the IMC tools used at Hanze and discuss their 2.1 Integrated Marcom Strategies effectiveness The buyer persona 2.2 Customer journey Develop a buyer persona for a new student Touch points Visual identity: Designing touchpoints Identify all the Hanze touchpoints and explain how 2.3 with the brand in mind effective they are for the persona The Customer Journey: The Hanze Student Customer Journey: create 2.4 Awareness awareness and consideration strategies Consideration The Customer Journey: Purchase The Hanze Student Customer Journey: purchase, 2.5 Retention retention & advocacy strategies Advocacy HALF-TERM BREAK - NO CLASSES HALF-TERM BREAK - NO CLASSES 2.6 Multichannel vs Omnichannel Marketing How to make Hanze a seamless experience 2.7 Recap + Mock Exam 2.8 EXAM WEEK 2.9 ROUND-OFF WEEK 2.10 RESIT PERIOD 1 2 RECAP 3  5 STAGES OF AWARENESS UNAWARE PROBLEM SOLUTION PRODUCT MOST AWARE AWARE AWARE AWARE Clients don’t They know They know They’re aware They’re ready even realize something’s products /services of your product and to move they have a wrong but exist but haven’t likely comparing forward to the don’t yet encountered it with alternatives. next phases problem know what the brand or don’t They need of the CJ solutions exist know why it’s reassurance that better the company’s solution is the best The importance of 5 Signs your mattress How a good mattress 5 Green flags of a What to look for when sleep for productivity is wrecking your sleep can help you to sleep good mattress thinking of changing might help someone better your mattress realize their sleep is subpar 4 Good to know To an extent, the ‘scope’ of the awareness phase depends on the companies context and is what you make of it. Think about the differences between: 1. Creating awareness for a societal problem. 2. Creating awareness for a (groundbreaking) innovation. 3. Creating awareness for a new brand in an existing market. 4. Creating awareness for a new product (line) for an existing brand 5. Making sure your share of voice remains steady 6. And much more.. (rebranding, new proposition, seasonal deals, opening new stores etc.) 19-12-2024 Titel van de presentatie 5  THE MIDLANDS OF THE CONSIDERATION JOURNEY: CONSIDERATION The need or problem has been clearly defined. Customer extends their research to different angles and approaches to solve the problem or fulfil the need. During this stage customers are receptive to information that can help them make the best decision. They are focused on understanding the benefits of each option and the impact it will have. Customers shift from simply understanding what their issue is (the awareness stage) to exploring the different ways to resolve it and reach the purchase stage. 6 THE CUSTOMER JOURNEY: PURCHASE, RETENTION & ADVOCAY TODAY Q: WHAT ARE SYNONYMS FOR THE PURCHASE PHASE (HOW ELSE IS IT CALLED) 9 A: DO ACTION DECISION CONVERSION ACQUISITION 10  PURCHASE LETS ASSUME That you are working for BMW Netherlands. What would you consider a purchase? 11  THE PURCHASE PHASE PROBLEM SOLVING The prospect has chosen a strategy — an approach or a solution — to solve the problem. Now he or she will most likely make a list of providers/suppliers. After comparing the different options, the prospect will make a final purchasing decision. By this point, to provide the best service, you should have stepped into your customer’s shoes, understanding the source of the problem or pain point, and thinking about how your product or service will solve the problem or improve it. If your customer succeeds, you will. 12 Q: WHAT ARE PAIN POINTS KRUIDVAT SHOULD FIX IN ORDER TO DO EVEN BETTER IN THE PURCHASE PHASE? 13  PURCHASE PHASE TACTICS I When people might need you, be there. Aligns very well with place from the marketing mix. Sounds simple but comes with a lot of challenges. 1) If people want to buy their shoes online, but you don’t have a webshop you are already losing an opportunity to generate a sale. 2) People looking for a lunch, but you are not available in Google Maps and/or Tripadvisor. 3) I want to go to the gym on Sunday, but my current gym is closed on Sundays. 14 WHY GENIOUS? 19-12-2024 Titel van de presentatie 15  PURCHASE PHASE TACTICS II Special offers to make sure people buy at your place instead of competitors. 1. Targeted offers and discounts 2. Subscription benefits 3. Providing extra service 4. Free extra’s (premiums) 5. Free trials 6. ? 16  PURCHASE PHASE TACTICS III Make sure that there is as little friction as possible whilst doing business with your company. 1. Offer the demanded payment methods 2. Repeat buying 3. Website functionality 4. Instore experience (shortcuts at IKEA) 5. Parking options 6. ? 17  PURHCASE PHASE TYPE OF CONTENT Price driven Call to action driven Create a sense of urgency 18 GOALS /KPI’S PURHCASE PHASE Sales Leads Downloads Bookings Scheduled meeting Request demo/trial Store visit Specific action taken (fill in your taxes) 19 Q: WHAT IS THE DIFFERENCE BETWEEN RETENTION AND ADVOCAY? 21  AFTER THE PURCHASE: RETENTION RETENTION Once a customer has made a purchase, your focus should shift to building a long-term relationship. This can be achieved by providing excellent customer service, sending personalized follow-up emails, and offering loyalty programs. Recently, customers expect a tailored experience. Use the data you collect to personalize interactions, product recommendations, and marketing messages. 22  AFTER THE PURCHASE: RETENTION RETENTION Mind you though: there are a lot of companies out there with whom you do business with on a regular basis, but there is hardly any interaction with you and the company after the sale. In the end → creating value = happy customers = people coming back. 23  AFTER THE PURCHASE: EXAMPLES OF RETENTION RETENTION DONE WELL? Excellent loyalty Offer unique services Excellent after sales 24 programs communication  AFTER THE PURCHASE: AND MUCH MORE RETENTION Provide personalized customer experiences Build trust with your customers Implement a customer feedback loop Maintain a customer communication calender Send a company newsletter Community building Gamification Etc. 25  AFTER THE PURCHASE: IMPORTANT ASPECT OF RETENTION RETENTION PHASE: CRM 26  AFTER THE PURCHASE: DIRECT MARKETING RETENTION Direct marketing consists of any marketing that relies on direct communication or distribution to individual consumers rather than through a third party such as mass media. It is called direct marketing because it generally eliminates the middleman, such as advertising media. 27 Q: WHAT OPTIONS DOES KRUIDVAT HAVE TO DO DIRECT MARKETING? 28 DIRECT MARKETING OPTIONS AFTER THE PURCHASE: RETENTION Mail Email Phone calls Social media Face to face communication (instore) Text messages Leaflets/catalogues Note: it is considered direct marketing if you have data/information (first party data) which you use to get in touch with the customer. 29  AFTER THE PURCHASE: DIRECT MARKETING RETENTION 30  AFTER THE PURCHASE: ADVOCACY ADVOCACY This is the last stage of the customer journey and the hardest one to achieve: to turn your customer into an active advocate for your brand. They give you great reviews, refer their friends and family, and generate the most powerful kind of marketing there is: word-of- mouth. This is the most challenging stage, but also the most rewarding. To turn customers into advocates, you need to provide exceptional products and service, and make it easy for them to recommend your brand to others. 32 Q: BRANDS WITH A LOT OF ‘ADVOCATES’? 33  AFTER THE PURCHASE: TACTICS ADVOCACY 1. Referral and reward programs 2. Reviews/testimonials/user generated content 3. Content sharing (social media) 4. Community building 34 1. REFERRAL AND REWARD AFTER THE PURCHASE: ADVOCACY PROGRAMS Classic example 35 4. COMMUNITY BUILDING AFTER THE PURCHASE: ADVOCACY 36  WORD OF MOUTH GOAT OF MARKETING 37