430: How changes in marketing are influencing products – with Ali Plonchak 

How product and marketing teams can work together Today we are talking about the interdependence of product and marketing and how marketing trends have changed. To help us, Ali Plonchak is with us. Ali is the COO of Crossmedia. Since 2006 at Crossmedia, she has helped clients navigate the changing marketing landscape. As the company’s first female partner, she proudly leads the agency to deliver on its mission of trust, reason, and happiness every day. Her responsibilities include building and evolving Crossmedia’s services in ways that reflect their commitment to do the right things for their people and their clients.  Summary of some concepts discussed for product managers [5:53] What is the definition or purpose of marketing? Marketing, when done well, delivers on a need a consumer didn’t realize they had. It’s about using data to uncover insights and the best place, time, and way to speak to a consumer on behalf of a brand. Then deliver that in an effective way and measure the success of that against brand goals. [7:14] What trends or big shifts have you seen in marketing? Access to data and how we use it has changed. Data, digital media, and advanced analytics to measure effectiveness have skyrocketed. Everything from smartphones to social media has allowed there to be more data out there. It created a lot more complexity in the supply and demand of digital advertising inventory and pricing mechanisms. Now, you can track advertising exposure all the way through to the brand’s ultimate success measure. Now, success in marketing is not only about the brand, values, and whom you want to reach, but also about having technical acumen. Another trend is data enrichment. You can pay a data service to get data on your customers. A few years ago, there was suddenly all this data on people, but there started to be questions about how the data is being sourced, how recent it is, and what its quality is. There’s been a big shift in the past couple of years for organizations to maintain a centralized source of data and know with more clarity how that data was procured and how it applies to audiences. This year, there’s a ton of new legislation that will continually impact the type of data that consumers willingly give to a website. That’s sparking a lot of interesting innovation in the way we target advertising and measure effectiveness. Another shift is around using media responsibly. Consumers are starting to recognize the societal impact media can have on consumers—positive or negative. How can we think about using media for good? That’s a conversation we’re frequently having with our clients. How can we use media to deliver positive actions? How can we stay away from some of the places and spaces that might be impacting people in a more negative context? [13:42] Have you seen any shifts from outbound (getting information to people, e.g., billboard, advertisement) to inbound (people coming to you, e.g., on social media) marketing? Absolutely, and that’s related to having so much more data out there. Most consumers expect if they engage with your brand, you will provide them something of value. It could be functional—if they sign up for your email list, you provide 20% off their first purchase. Or it could be something cool—you provide a branded filter they can apply on a social media platform. Most of these interactions allow marketers to find consumers who are “hand raisers” for their brands. They can then look for more people who raise their hands like that, finding the attributes that are common to hand raisers and using those to fuel everything from advertising to product development. [15:14] How is changing legislation impacting marketing? This legislation impacts the way we target advertising and the way we measure effectiveness.