Devin Wenig, President of eBay Marketplaces recently spoke with McKinsey & Company about how digital technology was transforming the retail marketplace. One of his insights that can apply to companies serving the aviation industry was his take on the importance of small data vs. big data.
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Most big-ticket purchases in aviation and related industries are considered purchases. It is the job of marketing to understand what is important to decision makers and influencers in terms of feature, function, and cost benefit. Those are the issues that will be weighted against the competition when the rational purchase process begins.
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The connected customer spends more time on social media than with watching television, listening to radio, or reading a newspaper. Cloud-connected smart phones, tablets, and laptops are the predominant tools of the connected customer. They absorb information from many different sources and share their experiences with followers on social networks. Aviation manufacturers that do not shift their marketing tactics are endangering their brand and flirting with obsolescence.
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Ryanair’s CEO, Michael O’Leary recently called his customer “idiots.” Having never had the pleasure to fly Europe’s largest low cost carrier, I was glad not to be classified as one of the above. Yet from the decidedly colloquial North American viewpoint, it is a revealing look into Ryanair’s branding strategy.
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In aviation marketing, the purchase decision is often solely based on the performance specifications of a product. Each product on the market, no matter the manufacturer, will fulfill the client’s baseline need. With different products of standard utility competing for business, one way to differentiate is by manipulating the price point. Although not terribly flexible, a price can be offset by manipulating variables within the company such as service, warranty, and delivery policy.
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Good marketers believe that customer insights form the foundation for brand strategy. Being able to identify insights about product functionality, user preferences, and emotional connection to the brand help to formulate the brand promise and gives the brand its “reason for existence.”
Continue readingWhen it comes to e-commerce, you’re only as good as your data. For aviation marketers that rely on online sales, Google has rolled out new tracking features that help identify outbound and inbound marketing tactics that are pulling their weight. Continue reading
Life After Advertising 