2011’s keynote speaker was the very informative Dr. Jeffrey F. Rayport, Ph.D. Jeffrey coined the term “viral marketing” and brings an incredible knowledge of the online commerce space. He advises businesses in rethinking how they interact with their customers. His keynote focused on how the networked world requires new approaches to drive customer engagement, which in turn is changing the face of online and multi-channel commerce.
Last year’s keynote was informative, but dry. This year’s keynote was awesome. Dr. Rayport was informative as all get out while being funny and engaging all at the same time. I’d love to see him speak again, and I definitely ended the keynote feeling jazzed to keep learning more and energized for my meetings!
Bullet Point Review!
- Consumers have changed over the decades
- Consumer 1.0: Demand was greater than supply
- Consumer 2.0: Demand was equal to supply
- Consumer 3.0: Supply is greater than demand
- We’re all in the business of demand generation.
- Engaging and captivating consumers is key.
- Toyota’s Scion is a great cast study of how to do it right.
- Scion never spent money on TV advertising: 60% allocation of their marketing budget to events and 40% to online advertising.
- Made a lot of after market peripherals and accessories for the car.
- It’s changing the way car buying works. Most owners customize their Scions online.
- Integrate social networks, read dynamic comments, follow Twitter streams.
- 2/3 of the 100 million streams of videos happen on exterior sites, not YouTube.com
- StumbleUpon now accounts for over 50% of all the referral traffic from the topographic social media sites. There are 12 million SU users vs. 750 million Facebook users and yet SU just surpassed Facebook.
- Best Buy extends multiple-channel retail experience into many useful OUTGOING points of presence, such as Facebook, online magazines, mobile apps, Twitter-based customer service, and crowd sourced ideas.
- A single social graph can become a vast constellation of thousands of INCOMING points of presence.
- With the proliferation of local deals and offers, mobile couponing is growing rapidly in appeal.
- It’s expected that 16.5% of adult mobile phone users will be using mobile coupons by 2013.
- iPhone and iPad apps enable mobile access to flash sales with “call to action” offers for people on the go.
- To boost mobile sales, companies have provided a “virtual shop window” for the retail experience without the inventory. Ocado in the UK has a store front, you can scan the barcodes on the window with your mobile phone and order items.
- Mobile smart phone apps provide branded city guides to deepen brand engagement and drive sales.
- Hulu’s move beyond online video streaming is fueling growth for it’s business and content owners, too. It went from a website to having multiple platforms to provide premium content.
- The highest productivity retailer in the world as measured by retail sales per square foot is the Apple Store.
- Publishers and advertisers will win consumers not through Customer Relationship Management, but Customer Managed Relationships.
- Forget segments and niches in the traditional sense.
Dr. Rayport’s 5 Main Takeways:
- Target your diehard fans: put them in the driver’s seat
- Social the brand: make rewards matter
- Work the web: let the outside in and the inside out
- Experience is everything: form factors rule
- Integrate the touch points: be savvy and seamless
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