I believe the way marketing should look at every aspect or every campaign is what the customer looks like from a 360-degree marketing point of view.
Mike Vasavada is the founder and director of Mobiddiction, a new-age consultancy merging strategy design and technology based in Australia. In his role, Vasavada leads an award-winning team of technologists, UX and UI designers, developers, strategists and project managers to create customer experiences which move people and brands.
In this episode of Velocitize Talks, Vasavada shares his thoughts on how companies can successfully use technology, the lifecycle of startups, and 360-degree marketing.
AIM Higher (1:00)
I see a lot of companies that focus a lot on the marketing efforts and acquisitions, but unless you have a process of improving that continuously you cannot really improve your product.
“Innovation is not the next big technology,” says Vasavada. “It’s how you do things better.”
Mobiddiction uses a process or model for continuous innovation called AIM, or analyze, improve, and measure. “At every stage in the process, whether you’re developing a new product, something to do with technology, something to do with innovation, it’s always important to circle back on these three,” says Vasavada.
But the process doesn’t stop once it’s over; it’s a continuous loop. The end result creates technology that transforms customer experience, increases efficiency and productivity, and reduces costs while gaining insight. It is a way to transform in order to create a product or service that the marketplace needs and wants.
Under the Sea, Virtually (2:51)
People who attend the summit would come into this VR experience, a boat tour, jump into the water and the conference was set up as a 360 view within the Great Barrier Reef.
Mobiddiction created the first underwater global summit for their client Genesys’ annual meeting for their global senior leadership team. Since the Covid pandemic was keeping the team apart with virtual meetings as their only connection, Genesys wasn’t interested in another Zoom meeting. They wanted a unique experience that mimicked an in-person event. This included hosting quizzes, live polls, chat walls, breakout sessions and a live DJ.
“We created something which is unique, something which has never been done before,” says Vasavada. Mobiddiction hired professional scuba divers to film the Great Barrier Reef for a Virt Real experience. The result was an event that was very different from any other online event in that it included a boat tour and diving experiences, as well as the company’s conference presentations and collaboration, all under the sea.
Staging Startups (5:45)
A lot of startups that I work with go too quickly into design mode or they go too quickly into market mode or MPV (Minimum Viable Product) mode or seek funding.
In Mobiddiction’s ‘Roadmap to Start-ups,’ Vasavada shares six key stages for startups for anyone thinking of heading down that road. The stages focus on equipping entrepreneurs with essential skills while filling knowledge gaps for existing founders. The first pillar is structure, what Vasavada refers to as partnership agreements, company formation, global agreements, etc.
This concept of ideation forms the strong foundation for any startup. Then it’s time to formulate a vision, mission and goals in order to be confident in the startup’s product offering. Growth strategy begins at this stage and continues throughout the startup’s lifespan. Design and development of the product or service propels a company toward the launch into the marketplace. Vasavada emphasizes that commercializing something takes time—so don’t rush it.
Alternate Realities (7:08)
There was not a lot of an uptake of technology from not only the consumer point of view but also from an organization point of view.
Augmented Reality (AR) and Virtual Reality (VR) are two immersive digital experiences that have been gaining popularity, especially due to the pandemic forcing more digital engagement. In 2021, 58.9 million people will use VR and 93.3 million will use AR in the U.S. at least once per month. AR offers more user flexibility and is easier for businesses to implement as well. Since it requires a mobile device, it is more accessible than VR, which requires special head gear or gadgets. “VR is mainly used as entertainment today, but there will likely be a shift toward this tech as prices drop and the hardware becomes more accessible,” according to G2.
In Vasavada’s opinion, organizations should invest in technology where they get a good ROI and make sure that specific technology is widely used. In the past, companies used VR for niche projects and activations which resulted in a good case study. But he feels the pandemic has changed that and due to the growth in digital usage, AR and VR will be implemented in more ways going forward.
The 360-Degree Marketing Approach (9:06)
I believe marketing needs to think about marketing 360. Not just getting them in the door, but keeping them there, keeping them hooked on and building that brand loyalty.
To have a true 360 view of customers, brands need to know their audience. They need to understand where they are, how they make decisions, what content they consume, why they choose to purchase a product/service, and when to engage with them. Despite 90% of marketers claiming that they are “customer-centric” in their approach, only 17% of customers feel valued by brands. If customers don’t feel valued, they are less likely to promote and share a brand as well as become a loyal customer.
Net-negative customer churn should be every company’s customer retention strategy. In order to obtain that, it is mandatory for companies to make customers feel valued, heard and delighted. Otherwise, customers will find someone who will.
For more information on Mobiddiction, check out their website and follow them on Facebook, LinkedIn, Instagram and Twitter at @mobiddiction. To stay up to date with Vasavada, follow him on Medium, Twitter, or LinkedIn.