By any metric, 2020 will be a turning point in history analyzed by historians and social commentators for decades to come. In these tumultuous times, where social justice, polarized politics, and a viral pandemic have created “new normals” — there has never been a more stark chasm between the brands that are doing work work that matters, and those that have missed the mark.
It might sound trivial to ask the question: what does this all mean for marketers in 2020? However it’s more pertinent than ever, as consumers are being abundantly clear on what they expect from the brands they do business with.
So who better to articulate this complex topic and kick off Signals 2020 than Seth Godin, esteemed marketer and pioneer of permission-based marketing, some 20 years before it was cool. Here’s our wrap-up of Seth Godin’s absorbing opening keynote with video highlights.
Permission-based marketing
Over the last couple of years, privacy has taken center stage with browsers blocking cookie tracking, marketers eschewing unreliable third-party data sets, and the first GDPR/CCPA fines being handed-out.
“Too many marketers believe marketing and advertising are the same thing. Shouting for, and demanding attention instead of building meaningful relationships with consumers.”
The solution is not to try and circumvent privacy regulations, or snoop on consumers, but to ask and deliver anticipated, personal, and relevant messages to the people who want to get them.
And by speaking directly, and only to the consumers that need your product or service, they will furnish you with the opt-ins and preference insights required to build up a more complete picture of who they are and empower you to deliver more personalized, permission-based marketing to them.
Not marketing buzzword bingo, but a strategy firmly rooted in building more meaningful and lasting relationships with consumers and becoming the brand or marketer that would be missed if it were gone.
The Internet wasn’t built for marketers
“The internet is not a mass media, it is optimized to reach small groups of people with effectiveness. The future of marketing is connecting with the smallest viable audience.”
Marketers will have to shift their mindset to realize this. For all too long, the status quo has seen brands investing in costly CPM advertising models, chasing impressions, clicks, and other vanity metrics. Notwithstanding the lack of transparency the Facebook and Google duopoly wield on marketers, these ads are being served to each and every person. But as Seth Godin states, the internet is a micro medium, not a mass medium.
At Cheetah Digital by Marigold we believe that more sophisticated targeting has not led to better experiences for consumers. Digital natives demand increased privacy, complemented by true personalization. They expect loyalty programs, but won’t be satisfied with generic points-win-prizes incentives. To truly matter to your consumer, marketers need to connect with them on the right channel, at the right time.
Be a brand your customer would miss if it were gone
“If you can show up for consumers that want your product, they will trust you, they will give you their attention and permission.”
What does it really mean to be a brand that your customer would truly miss if it were no longer here? As supply chains were disrupted during the pandemic and services curtailed, we all realized which products truly mean something to us, and which didn’t.
When it comes to actual needs, things like food, utilities, and healthcare, consumers naturally care very deeply about what is on offer and the brands that supply them. When it comes to wants, it’s a very different matter…and they’re endless. Achieving this zenith is not about hype, promotion or advertising.
We couldn’t have asked for a more insightful start to Signals 2020, and we have another seven weeks of thought-leadership, product launches and expert panels including some of the world’s most revered brands. Check out the agenda for your favorite sessions and reserve your spot.
