Transcript Working with American Express - The Cyprus Institute of Marketing

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.