Digital Marketing Models and Principles

Digital Marketing Models and Principles

1. Adoption and Disruption

   • According to Clayton M. Christensen, a disruptive technology is a new emerging technology that unexpectedly displaces an established one.
     • 1.Mobile Internet 2.IOT 3.Advanced Robotics 4.Cloud 5.Autonomous or Near-Autonomous Vehicles 6.Next generation Energy Storage 7.3D Printing
   • Stages of disruption
     • 2) Rapid linear evolution
       • Proceeds to rapidly add features and capabilities, filling out the value proposition after initial traction with select early adopters.
     • 1) Disruption of Incumbent
       • Introduces new product with a distinct point of view, knowing it does not solve all the needs of the entire existing market, but advances the state of the art in technology and/or business.
     • 3) Appealing Convergence
       • Sees opportunity to acquire broader customer base by appealing to slow movers. Also sees limitations of own new product and learns from what was done in the past, reflected in a new way. P
     • 4) Complete Reimagination
       • Approaches a decision point as new entrants to the market can benefit from all your product has demonstrated, without embracing the legacy customers as done previously.

2. The New Marketing Normal

   • The 5 Foundation stones of the New Marketing Normal Market
     • 1) SEGMENTATION
       • Begins with targeting social influencers and then building networks of Advocates, Segments Greater Data Means Better Actions]N
     • 2) BRANDING
       • From strategic branding -> social branding (co-produce and keep consumers engaged)
         • The Headstream Initiative (social brand agency) defines social brand as: 1) win-win relationships, 2) active listening, 3) appropriate social behaviour
     • 3) PRODUCT FEATURES
       • From Product Experience to Customer Experience
         • 7 Attributes that contribute to a positive CX: ● Goal ●Functionability ● Usability ● Emotion ● Expectations ● Consistency ● Employee Interactions
     • 4) SALES PROCESS
       • From Sales Funnel to Digital Involvement Cycle
         • Sales Funnel reflects AIDA (Awareness, Interest, Desire, Action)
           • All inputs are one-way and occur in a downward direction
             • used by many companies to understand the consumer decision-making process
               • more accurately reflected in the DIC
         • Digital Involvement Cycle: Awareness, Interest, Involvement, Commitment, Loyalty, Advocacy, Champion
           • interactive, swirling cycle with expanding touch points at each stage before and after Commitment
     • 5) CUSTOMER DECISION PROCESS
       • From Consumer Behavior to Influence Marketing
         • logical entension and a sense of affirmation, or relationship marketing for the digital age
   • Third iteration of the 4Ps model
   • Value builder -> value generator (companies begin to align core values with customer-driven actions company, employees, partners and the users and now Data = value
   • PRODUCT: consumer experiences/ touchpoints PROMOTION: seamless integration of different marketing media PLACE: (online, offline, mobile PRICE: value creation and influence PARTICIPATION: sustainable relationships and networks PRINCIPLES: values and sustainability

3. Digital Strategies

   • Managing media
     • Four Strategies
       • Managing Lead Generation: From Outbound to Inbound Marketing
       • From Paid, Earned & Owned to Converged Media
       • Managing Relationships: From Customer Relationship Management (CRM) to Social CRM
       • Managing Data: From Market Research to broad Data Analysis
   • Managing Relationships
     • CRM to SCRM
       • How to Achieve SCRM:Management Buy-In Strategy Consistency Integration Flexibility Social Participation ROI
       • CRM helps organisation manage its business relationships
       • SCRM is meeting the needs of customers at the same time, meeting the objectives of its own business
   • Managing Data
     • From Market Research to broad data Analysis
       • Traditional MR- controlled experiment with research participants, a stimulus and a measured response
       • New social insights are based on transparent, open data collection
         • Combining broad data and MR can be a powerful force for competitive advantage
   • Managing Lead Generations
     • From Outbound to Inbound Marketing
       • Content Creation
         • Primary tool attracting customers to an organisation's website and media platforms
       • Search Engine Optimization
         • maximising rankings in search engines makes it easier for prospects to find the organisation's website and collateral online content
       • Social Media
         • brand's content and messaging is efficiently disseminated throughout social networks
       • Transitioning to Inbound Marketing
         • Become an Early Adapter
         • Fully Commit to the Inbound Marketing Model
         • Allocate the Budget and Resources to Properly Implement
         • Tie Results to Hard Data
         • Inbound marketing is not a channel, tactic or technology; it is a methodology. With inbound, brands attract, convert, close and delight visitors, leads and customers through a variety of channels including social media, email, blogging, search engine optimization and more.

4. Evolution of the 4PS

   • served as the guiding force for marketing for 40+ years
   • Three major components of the 4Ps model: 1) Value creator: initiates the marketing message (MARKETER) 2) Functions/variables: communicate the message (THE 4PS) 3) End recipient: for whom the message is intended (CUSTOMER - THROUGH WORD OF MOUTH)

5. Marketing 2.0

   • Second iteration of the 4Ps, which reflected the changes brought about by the widespread use of the internet and social media
   • Value creator -> value builder (company, employees, partners and the users (customers) interacting = value and access to big and board data
   • PRODUCT: user driven PLACE: online and offline PRICE: time and ease PROMOTION: integrated marketing PARTCIPATION: communication 2-way and open engagement