Transcript Slide 1
Together, We Can Direct Marketing in the Publishing Business Goethe Insitut Cairo 14th to 15th of June Michael Freter Together, We Can A personal introduction Master of economic geography Corporate culture vs. corporate identity vs. corporate image WEKA International Data Group Verlag Neue Wirtschafts_Briefe LexisNexis Germany (Reed Elsevier) Reed Exhibition (Reed Elsevier) = Me Together, We Can Who are you? Name Company Function and role Your questions = YOU ? Together, We Can Objectives • Discuss with you the different Media Types • Discuss with you how to develop new products with the market • Discuss with you all the different direct marketing channels – Pros and Cons – Future • Discuss how to test effectively • How to use different DM channels together • How does Direct Marketing work from a customer point of view? Together, We Can Media Types I need your help! Which Media Types do you use? Together, We Can LexisNexis Online • 34 years online experience • 99,996% available • >2 Mio. searches per day • 55 Mio. new documents per month 1973 2007 Together, We Can LexisNexis Wirtschaft Täglich aktuelle und hochwertige Informationen für zuverlässige BusinessEntscheidungen. In über 32.000 Quellen und rund 5 Milliarden VolltextDokumenten: - Informationen zu über 13 Mio. Unternehmen aller Branchen weltweit - Zugriff auf mehr als 150 deutsche Presseerzeugnisse sowie die wichtigsten internationalen Medien - Medienbeobachtung: Wir beobachten täglich bis zu 30.000 Presseartikel und liefern alle Ergebnisse zu individuellen Suchbegriffen Together, We Can Growing competition! Risk Management News & Business Free Websites Together, We Can Content National Own Content Contentpartner • • • • Codes & Cases LexisNexis-commentary RechtsNews CD-Products International Together, We Can LexisNexis Germany Legal Market Health Market Target Group: Lawyers, tax advisers, corporate councils Target Group: Health insurances Corporate Public Sector Target Group: communities, ministry, justice, associations, universities Target Group: Insurance companies, companies Together, We Can Growing Specialisation • Smaller Target Groups force more individualisation (Mediatypes) Together, We Can Change in the market of special interest Quelle: Diebold Together, We Can Value Chain Together, We Can Digital Media-Management Schaffung, Redaktion und Digitalisierung von Inhalten privater Lagerung von Inhalten Distribution von Inhalten Darstellung von Inhalten Vermarktung von Inhalten Rezipient business Media House Rezipient Media neutral production Content Usage everywere at any time on each client Text & Pict PC Distribution Video/Film Handy Usage Network Publishing: Audio PDA Web Web-Tablet Together, We Can Times are Changing Together, We Can Today… • Cost pressure in Sales and Marketing • Decreasing response rates in Direct Mail • Decreasing response rates and increasing legal issues in Telesales • Reacting booksellers (not pro active) • Increasing consulting needs on client side • Pricing issues on clients side • Saturated markets Märkten smaller target groups smaller circulations or subscriber base • Growing dominance of internet as a sales channel • Changing behaviour of target groups Together, We Can Conclusion It is compelling for product development… … market knowledge … in depth knowledge of target group … knowledge about media types and there pros & cons … internal knowlwdge … having a methodology for product development Together, We Can Media Types I need your help! How do you develop products? Together, We Can The Process in Steps 1. 2. 3. 4. 5. Idea Prioritze Concept Decision Production/ Marketing / Sales / Distribution Together, We Can 1. Finding of Ideas • Methodology: • Responsibility: • Instruments: Market Research, Medienanalyse (ZS,), Expert Interviews, Authors, Competition, Industry-Analysis… Editor in Chief Project-Team, List of ideas, Product development plan Together, We Can Product Development • • • • • • • • • What is your Target Group? How is your target group working? What is the need of your target group? What is the content? How is the content presented? Which media type? Which sales arguments? The USP? The price and offer? Together, We Can Product Development Content of Concept: 1. Target Group (Customer First) 2. Behaviour of Target Group 3. Interest (Needs of the Customer) 4. Content (Topics) 5. Form (Layout, Type) 6. Media (Technical Platform) 7. Sales Channels 8. USP 9. Order (Price) SALES MARKETING TEAMBuilding MARKET MANAGER Together, We Can Target Group „Lawyers“ Large Lawfirms (30 +) No. Of firms Midsize Lawfirms (5 - 29) Small Lawfirms (1 - 4) Corp. Councels Public Institutions Notaries Tax Advisers Universities 70 2,200 56,700 n/a n/a n/a 40,000 n/a No. Lawyers/ Potential Users 6,700 16,300 78,000 43,000 57,000 10,000 70,000 n/a Market Penetration paid services Online-db 80% 25% 5% 30% 30% n/a n/a n/a Information Budget p.a. €15m €33m €143m €85m €61m €15m €30m €13m Invest per lawyer p.a. €2,200 €2,000 €1,800 €2,000 €1,100 €1,500 €400 n/a 4% 8% 36% 22% 15% 4% 8% 3% Share Together, We Can Top Kanzleien in Deutschland Kanzlei Anzahl Anwälte Kanzlei Anzahl Anwälte Top Law Firms in Germany Freshfields Bruckhaus Deringer Clifford Chance Pünder Linklaters Oppenhoff & Rädler Luther Menold CMS Hasche Sigle Eschenlohr Peltzer Schäfer Lovells Boesebeck Droste Haarmann Hemmelrath Rödl & Partner Beiten Burkhardt Goerdeler Taylor Wessing Gleiss Lutz Hengeler Mueller White & Case, Feddersen Nörr Stiefenhofer Lutz Baker & McKenzie PricewaterhouseCoopers Veltins (Heussen) Graf von Westphalen Heuking Kühn Lüer Wojtek Allen & Overy Shearman & Sterling Buse Heberer Fromm Graf von Westphalen Bappert & Modest Heuking Kühn Lüer Wojtek Shearman & Sterling Allan & Overy 519 425 354 340 308 281 244 216 210 206 201 192 180 173 168 157 135 131 131 126 121 113 106 101 96 Norton Rose Vieregge Arcon Göhmann Wrede Haas Kappus & Hartmann Görg Gassner Stockmann & Kollegen Redeker Sellner Dahs & Widmaier Mayer Brwon Rowe & Maw Gaedertz Raupach & Wollert-Elmendorff Latham & Watkins Schön Nolte Ashurst Morris Crisp Kappelmann und Partner Cornelius Bartenbach Haesemann & Partner Flick Gocke Schaumburg Fritze Paul Schmitt Bardehle Pagenberg Dost Altenburg Geissler Isenbruck Dr. Eick & Partner Schwarz Kurtze Schniewind Kelwing Wicke Becker Büttner Held Heiermann Franke Knipp Janoes day Reavis & Pogue Coudert Schürmann Hölters & Elsing Wilmer, Cutler & Pickering P + P Pöllath + Partner 90 81 67 66 65 61 60 59 57 56 56 54 54 50 50 49 49 48 48 48 46 46 44 42 Together, We Can Product Development • • • • • • • • • What is your Target Group? How is your target group working? What is the need of your target group? What is the content? How is the content presented? Which media type? Which sales arguments? The USP? The price and offer? Together, We Can How to sell publishing products with Direct Marketing Together, We Can Objectives • Discuss with you all the different direct marketing channels – Pros and Cons – Future • Discuss how to test effectively • How to use different DM channels together • How does Direct Marketing work from a customer point of view? • Conclusion I need your help! Together, We Can LexisNexis communication to the market via… • Direktmarketing – Use of „classic marketing tools“ with response-elements • Field Sales Force – Team segmentation by market • Trade – Book sellers • PR Together, We Can Quick Direct Marketing Media Discussion B2C B2B Future? Direct Mail Dying a death as a targeted medium – increasingly used as mass-market medium Still highly relevant in combination with tele-marketing/sales support If in B2C the price to target niches does not come down: no change and further use as mass-market medium Telemarketing TPS has made effective use impossible Highly relevant and useful Smart linkage with Direct Mail and building integrated campaigns Door drops If DMA does not come up with a practice – councils will Not relevant Opt-in medium via mailbox sticker? Press inserts Still affordable for predominantly financial services companies Not relevant The environment? Press Effectiveness highly variable Trade press still very powerful Integrated campaigns? TV Only effective for charities and companies who cannot identify their customers easily (and make disproportionate profits on 1 customer) TV environment in Europe not suited yet for this More American environment? Field Marketing Effectives from sales perspective, not from usage perspective Trade-shows/presentation important sales toolkit – although effectiveness not always measures Developing markets? E-mail marketing Difficult to scale up… Can be very effective with use of other campaigns ? Banner advertising Behavioural targeting To be developed…. More usage by B2B? Search engine marketing Role of integrators? Untapped market for paid for search? ? …………. Together, We Can How to test effectively? • Work-out your required samples sizes and model response before testing – If you get < 2000 responses, difficult to start drawing conclusions – Implication that B2B testing can be quite a challenge • Set up the right system/processes to track response – This is where most testing campaigns fall down • Do not switch off common sense/business intuition – Purity of testing very attractive/academically satisfying for highly analytical work environments • Some media not suited for testing on a single publication/mail-shot – Variability of press inserts and press is very high – Implication is to test longitudinally • Data over longer periods of time probably more insightful – Implication for search engine marketing? • ……………………. Together, We Can Multichannel-Marketing • More new channels in the last years (i.e. Second Life) • Identify channels that are used by the client • High correlation between main channels (ecc-Study 2006) Integrated communication, the combination of Offline and Online communication leads to market share No customer is using just one channel! (i.e. multi step concept LexisNexis) Together, We Can LexisNexis Kommunikationskanäle • • • • • • • • Direct Mail Telesales Buchhandel Anzeigen Internet Coop Events Direct Sales Direktverkauf, Leadgenerierung Direktverkauf Mittlervertrieb Branding, Mehrstufenkonzepte Leadgenerierung, Direktverkauf Leadgenerierung, Direktverkauf Branding, Direktverkauf Direktverkauf über AD The client comes on many ways! Together, We Can Test us 4 weeks! FREE without any risk! Für weitere Fragen zu unseren unterschiedlichen Online-Datenbanken oder bei Interesse an einer persönlichen Präsentationen in Ihrer Kanzlei stehe ich Ihnen gerne jederzeit zur Verfügung: Together, We Can Campaign Objectives • • • • Branding Generate leads Direct Sales Generate test clients (positive-/negative-option) Meaning of single campaign is decreasing! Multistep concepts increasing Internet takes the lead Together, We Can How to test effectively? • Work-out your required samples sizes and model response before testing – If you get < 2000 responses, difficult to start drawing conclusions – Implication that B2B testing canin be the quite acontext challenge of testing: My biggest learning • Set up the right system/processes to track response – This is get where too most testing fall down Don’t hungcampaigns up about the testing • • process. You cansense/business lose yourself easily in Do not switch off common intuition – Purity of testing very attractive/academically satisfying for highly complexity/academics… analytical work environments Some media not suited for testing on a single publication/mail-shot But there is always to high improve a – Variability of press inserts androom press is very – Implication is to test longitudinally campaign…… • Data over longer periods of time probably more insightful – Implication for search engine marketing? • ……………………. Together, We Can How do Direct Marketing Media work from a consumer Perspective? Together, We Can What is effecting the behaviour of consumers in 2007? • Busyness • Cognitive overload Together, We Can Together, We Can Cognitive Overload • 20th Century: clutter • 21st Century: cognitive Overload • You can’t cut through clutter because clutter not really relevant anymore… • But you can overcome cognitive overload Together, We Can What is effecting the behaviour of consumers in 2007? • Busyness • Cognitive overload • Cognitive lock-in Together, We Can Cognitive Lock-in • “Stickiness” of internet bank customers higher than non-internet users • Same is true of the physical world (e.g. supermarkets loose business when they re-arrange things) • Implications for customer retention activities: keep things comfortable and familiar, manage change carefully Together, We Can What is effecting the behaviour of consumers in 2007? • • • • Busyness Cognitive overload Cognitive lock-in Post-Literacy Together, We Can The 21st Century Direct Marketing Media paradox • How to adapt a very much verbal medium to an increasingly post-literate culture? Together, We Can What is effecting the behaviour of consumers in 2007? • • • • • Busyness Cognitive overload Cognitive lock-in Post-Literacy Consumer concerns Together, We Can Some Consumer Concerns • • • • • • • Control Contact Comfort Context Change Cynicism Complexity Together, We Can Together, We Can Together, We Can Together, We Can As a result of stress… • Brand-literacy is key, especially, in customer communications…brand loyalty is a stress-reduction strategy on the part of consumer • Communications must be clear, simple, straightforward, direct and most of all iconic: stress compromises attention spans Together, We Can Together, We Can The Brain • Right hemisphere: involuntary, instant pattern recognition • Left hemisphere: voluntary, linear, decisional • The right hemisphere has to be engaged in order to generate attention and response Together, We Can The Brain • Brain’s Right Hemisphere Together, We Can The Brain • Brain’s Right Hemisphere… Icons Together, We Can Systematic use of icons… • Can translate left hemisphere media (i.e. direct mail) into right hemisphere terms • Can overcome cognitive overload • Can squeeze out higher response rates in saturated direct marketing environment Together, We Can 4 Kinds of Icons 1. Graphic Together, We Can Graphic Icons ♫ Together, We Can Together, We Can A quick personal introduction BBA/MSc in sociology Corporate culture vs. corporate identity vs. corporate image Unilever INSEAD MBA Quick de-tour in management consulting Capital One Board Director of DMA (Direct Marketing Association) LexisNexis (Reed Elsevier) = Me Together, We Can A quick personal introduction BBA/MSc in sociology Corporate culture vs. corporate identity vs. corporate image Where Unilever did you look at on this slide? INSEAD MBA Quick de-tour in management consulting Capital One Board Director of DMA (Direct Marketing Association) LexisNexis (Reed Elsevier) = Me Together, We Can A quick personal introduction BBA/MSc in sociology Where did you look at on this slide? Corporate culture vs. corporate identity vs. corporate image Unilever INSEAD MBA Implication Quick de-tour in=management considerconsulting carefully how pictures/graphics Capital One in the light of the Board Director of DMA (Direct Marketing Association) objectives of your campaign LexisNexis (Reed Elsevier) = Me to use Together, We Can 4 Kinds of Icons 1. Graphic 2. Numerical Together, We Can £49.95 vs. £50.00 Together, We Can £5000 vs. £5000.00 Together, We Can Together, We Can 4 Kinds of Icons 1. Graphic 2. Numerical 3. Verbal Together, We Can Verbal Icons • • • • • • • Yes You More No At last! Best New • • • • • • • Finally Big Free How to Great Now Why Together, We Can When possible use Right Hemisphere words… • “New”, not “Introducing” • “Now”, not “Currently” Together, We Can What is the single most important verbal icon in addressable media? Together, We Can What is the single most important verbal icon in addressable media? The person’s name! Together, We Can Together, We Can 4 Kinds of Icons 1. Graphic 2. Numerical 3. Verbal 4. Personal Together, We Can Personal Icons Together, We Can As a result of stress, all marketing communications… • Must be clear, simple, straightforward, direct and most of all iconic: stress compromises attention spans • Must be consistently branded: brand loyalty is a stress-reduction strategy on the part of the consumer Together, We Can Some insights in average duration windows for Direct Mail • Prospects: 7 seconds • Customers: 12 seconds • B-2-B Prospects: 10 seconds • B-2-B Customers: 15 seconds Source: USA DMA research 2004 Together, We Can Together, We Can Evaluating Marketing Communications • If it doesn’t get a strong benefit message across in a hurry, throw it out • If it doesn’t have a strong call to action, question it • Is the creative non-interchangeable with competitors? Together, We Can Together, We Can Together, We Can Together, We Can Together, We Can Evaluating Marketing Communications • If it doesn’t get a strong benefit message across in a hurry, throw it out • If it doesn’t have a strong call to action, question it • Is the creative non-interchangeable with competitors? • Can the branding be easily understood? Together, We Can Together, We Can The 4 Key Parts of the body for Direct Marketing Media 1. Brain’s Right Hemisphere 2. Eye 3. Hand 4. Brain’s Left Hemisphere Together, We Can Deconstructing every element of your campaign will help driving maximum response – for example the elements of a direct mailing 1. 2. 3. 4. 5. 6. 7. 8. Front of outer envelope Back of outer envelope Response form Above salutation in letter First line, first paragraph of letter P.S. Front of brochure Back of brochure Together, We Can Together, We Can Together, We Can Together, We Can Together, We Can • Brain’s right hemisphere …….Icons • Eye……………………………..Surfaces/Screen • Hand…....................................Tactile Involvement • Brain’s left hemisphere……….Specificity Together, We Can What are the “so-what’s?” of today? • Think of the left and right brain hemisphere influence – – • Do not confuse “beauty” with “effectiveness” – – • Agencies generally like more conceptual and likeable communication Ask yourself what you want to achieve and what the objectives are There is no easy answer around campaign integration – • Use of humour in direct mail? Use of pictures/graphics in direct mail/e-mail? That’s why combining analytics with creativity/business intuition is key in my opinion Set clear targets for a campaign, evaluate and improve – My experience that you can always improve at least 20% Together, We Can BRANDING Together, We Can Germany Website Together, We Can Value Proposition The value proposition is defined as an implicit promise a company makes to its customers to deliver a particular combination of values’. Together, We Can Solution Lines Small Law Research Solutions - LN Base Portal - LNR Premium - Focussed Portals Client Development - Anwalt24 Print (ZAP) Together, We Can Example: Lawyers Weekly Together, We Can Product Family Product Family Research Solutions for Small Law Together, We Can The End