CMOs: 3 Things to Know About Collecting Consumer Data in a Disruptive Marketplace

As a CMO, you are increasingly involved with matters of data security and privacy, with a growing number of consumers questioning how companies are using their personal information. As a graduate student of Integrated Marketing Communications at Northwestern University’s Medill School who is interested in the role data plays in identifying and meeting customer needs, I have found two articles that address the subject of what you should know when it comes to collecting customers’ data in today's disruptive marketplace.

Avoiding the Pitfalls of Personalized Marketing and Sales, is written by Bain & Company consultants Melanie Bockemuehl, Genia Kudryasheva and Huy Nguyen-Tuong. It shares examples of how companies in many industries are tapping on customer data and technology to improve both the end-user experience as well as the company’s bottom line. Touching on common blunders made in personalized marketing, the article elaborates on the steps marketers can take for effective “segment-of-one marketing”, to identify elements of your products or services valued most by customers and successfully create a sustainable competitive advantage.

Photographer: Jack Moreh. Taken from Freerange Stock Photos

Does Your Social Media App Know Too Much About You?, is written by Forbes contributor Jayson DeMers. Examining the value of personal data for marketers, particularly for those turning to social media sites to gather customer data, it identifies some key trends in user data collection over the years. It makes the case for why user privacy concerns matter and provides suggestions on what marketers can do to alleviate these concerns in a way that benefits both parties. 

 

Based on my analysis of these two articles as well as my observations as a marketing student, I have developed three action items you should consider implementing – there is no better time than right now! These are:

• Transparency Establishes Trust. Be transparent and explain what data you’re collecting and why, to build relationships with your customers that are based on trust.

• Personalization Creates Value. Get to know your customers on a deeper level to capture the bigger picture of what matters to them – their needs, frustrations, points of enchantment – so you can interact with them in a personalized manner instead of bombarding them with what they perceive as intrusive spam.

• Reliability Drives Reciprocity. Finally, focus on building your brand reputation in a way that convinces consumers that your solution best meets their needs, so they voluntarily come to you and share their data instead of the other way around.

So, the next time you encounter a surplus of customer data and need to decide what to do with it, recall these three action items – they can make a world of difference.

Aneesha Subramaniam

I am currently pursuing a master’s degree in Integrated Marketing Communications at Medill School, Northwestern University (graduating in December 2017). I have three years of work experience in public relations and am keen to build expertise in marketing analytics and brand strategy. Connect with me on LinkedIn and Twitter.

CMOs: 3 Keys to Successful Digital Marketing in China

China is a big market and everyone wants to get a piece of this large cake; However, the dynamics and rules to succeed and survive are quite different from what make things happen over here in the western media world. As a graduate student in Northwestern Medill IMC program with an interest in digital marketing, I have found two articles you might be interested in.

“How Western Companies Use Weibo to Seize Market Opportunities in China” from MavSocial, it introduces one of the main social medias in China, Sina Weibo and why it is important to use. It has about 160 million monthly active users so businesses across the Asia-Pacific region have been tailoring their social media marketing campaigns to reach and engage with this vast audience. The article then talks about why some multinational companies like Durex, Unilever, Lancôme can do online marketing successful in China. For example, by providing useful information to users, such as beauty tips or health related information, followers are more likely to interact with the brand.  

Image Source: http://mavsocial.com/how-western-companies-use-weibo-to-seize-market-opportunities-in-china/

“WeChat testing ads in its News Feed” written by Rocky Fu on China Internet Watch, mainly talks about how WeChat is finding new ways for advertising on its platform. WeChat has become one of the largest fast growing social media apps that Chinese use in the past 4 years. It has more than 468 million monthly active users as of the Q3 2014. Despite using the social communications function of WeChat, each user on average reads 5.86 articles per day with 80% on WeChat Moments, a place where each user can personalize and share articles, music or post photos that your friends can see.  And now, besides being able to have ads in WeChat official accounts, WeChat is now testing ads in its Moments starting in January 2015. But for the first phase, only Fortune 500 brands will be accepted for the first phase Moments ad testing in WeChat.

After reviewing these two great articles, here are three key parts that I recommend you keep in mind when doing digital marketing in China:

• Develop Deep Consumer Insights - Knowing what users like & their preferences helps determine messaging and communication channel preferences

• Generate High Quality Content - Generating localized content with graphics or videos that is interesting or has deep thought in it is more likely to be shared among users

• Keep Consumers Engaged - Developing a social media strategy that interacts with users on a daily basis can increase traffic and visibility

Today, being customer-centric is the key to growing market share and profits. In planning your marketing programs, develop the insights which allow you to create content and use channels that will best connect with your high value markets. You will definitely grab a decent share in the dynamic and complex Chinese market.

Phebe Shi studies Integrated Marketing Communications at Medill in Northwestern University. She has done internship in Ogilvy & Mather for almost a year. Phebe is particularly interested in digital marketing, branding and content strategy. She is expected to graduate in December 2015. Phebe also holds a B.A. in Advertising from Peking University. You can connect with her on LinkedIn.

CMO - Examine Eco-Brands and Grow

As a CMO, you know it’s important to understand your customer; as their preferences change, you must evolve your understanding of their needs in order to tie your product into their lifestyle. As a graduate student in Medill’s Integrated Marketing Communications program and an avid supporter of social causes, I have been researching the effect of cause marketing on businesses and how it relates to company growth.

“Inside the Buy-One Give-One Model” by Christopher Marquis and Andrew Park argues that the One-For-One Model, founded by Blake MyCoskie at TOMS, not only creates commercial and social impact, but also is leading the way for entrepreneurship. Marquis and Park argue that One-For-One is an important model to emulate because of its clear messaging. They identify many one-for-one organizations and examine the success they have met merging marketing strategy, social impact, and consumer desires into one package. As the millennial generation garners more discretionary income, causes have become increasingly important for consumers as they make purchase decisions.

Brian Solis 

While the one-for-one model has paved the way for cause-friendly brands, their easy-to-understand marketing message isn’t the only takeaway. “Environmentally conscious companies don’t just sell products, they promote a mission and sustain a lifestyle that benefits their customers and simultaneously makes the world a better place,” says Kate Harrison in “How Four Eco Brands Are UsingSocial Media Effectively”. In this article, Harrison highlights four eco-friendly brands and their standout social media performance. These eco-brands have a triple bottom line that guides their business principals and a mission driven statement that recognizes the interests of their consumers.  Across all four social campaigns, the brands clearly stand for something, allowing them to promote their brand with an authentic voice, cultivate company culture, and enable a strong consumer following.

After reading these two articles, I believe CMO’s must focus on three strategies that will help them keep pace with changing consumer preferences and perhaps enable them to create social impact along the way.

1
      Clarify Your Mission – Both for your consumers and employees, a clear company mantra keeps your brand top-of-mind and has the opportunity to directly meet your consumers’ needs. Do you know what you stand for? What does your company believe in?

2    Leverage Social Media – Your consumer’s needs are front and center on social media. You have the opportunity to have a 1-1 relationship. Embrace this and be authentic.

3
      Sell Experiences – Whether you are a cereal company or a technology start-up, your story has the opportunity to empower consumers. Understand your customer’s lifestyle and become a part of it.

If you haven’t taken the time to understand the intricacies of successful mission driven organizations yet, you should. Consumer preferences are changing, and extensive research suggests that those preferences are trending towards companies that the consumer can feel good about.

Mari Alta Bakken is interested in helping organizations achieve profit maximization through mission driven marketing strategies that motivate employees to thrive and encourage consumers to buy. She currently works part-time in Integrated Marketing at LYFE Kitchen and will be working as a Relationship Marketing Planning Intern at General Mills in Summer 2014. Bakken is studying for her Masters in Integrated Marketing Communications at Medill, Northwestern University and completed her Bachelors of Arts in Radio/TV/Film and Political Science at Northwestern University.