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M3 (Modern Marketing Model)

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Ashley Friedlein - The Inbounder Global Conference 2018

Publié dans : Marketing
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M3 (Modern Marketing Model)

  1. 1. M3 (Modern Marketing Model) - the new model for marketing Ashley Friedlein, Founder, Econsultancy @AshleyFriedlein https://www.linkedin.com/in/ashleyfriedlein/
  2. 2. 2 We need to redefine Marketing
  3. 3. 3 “The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” CIM (The Chartered Institute of Marketing) “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” AMA (American Marketing Association)
  4. 4. 4 “The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” CIM (The Chartered Institute of Marketing) “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” AMA (American Marketing Association)
  5. 5. 5 “The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” CIM (The Chartered Institute of Marketing) “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” AMA (American Marketing Association)
  6. 6. 6 https://econsultancy.com/blog/62668-our-modern-marketing-manifesto-will-you-sign
  7. 7. Modern Marketing Model (M3) • Why do we need it? • A brief recap of marketing model evolution • M3 – the model and key points • M3 – implications 7
  8. 8. 8 8 Why do we need a new model for marketing?
  9. 9. CMOs have the highest turnover in the C-suite
  10. 10. Marketing academia isn’t teaching students what employers want https://medium.com/@dpalm/studying-marketing-at-university-was-a-frustrating- waste-of-time-b7bf0ef39d7
  11. 11. Digital marketing is dead. Is it? Definitely. Or maybe not. Mmm. Let’s debate it some more?
  12. 12. 12
  13. 13. 13 The problem? Marketing is in the grips of an existential crisis. We have no post-digital reference for what marketing has become.
  14. 14. 14 14 A brief recap of the evolution of marketing models to date
  15. 15. 15
  16. 16. 16
  17. 17. 17
  18. 18. 19 19 M3 – the model and key points
  19. 19. Who, what, how...? Objectives/KPIs, budgeting/resourcing Aka “customer-centricity” – are we properly looking at this from a customer/market viewpoint (or just because we have some product we think we can sell)? Aka “market research” – qualitative + quantitative, primary + secondary data sources Brand equity, management, tracking, architecture. Central brand purpose, values. Pricing. Mapping the market and choosing / defining your target segments Deliver brand perception – proposition, offer/benefits Omnichannel customer journey mapping, measurement & optimisation Aka “Place” – ensuring your product/service can be found where your customers are (‘availability’) Media-neutral combination of marketing tactics/channels to communicate your message The management of marketing data (privacy, governance, metadata, algorithms, models etc) + the measurement and optimisation of all marketing activities
  20. 20. Digital vs Classic marketing • “Digital marketing” is part “Marketing” – “Digital marketing” is tactical rather than strategic. But tactics can, and should, influence strategy – “Digital marketing” or “Classic marketing” tactics may need to be executed by specialists but both must be understood and integrated for effective marketing – A digital marketer who refuses to embrace classic marketing will hit a ceiling in his/her career – A classic marketer who refuses to embrace digital won’t have a job at all before long • In the M3 model – “Customer” appears twice. “Digital” does not appear at all. – Works for B2B as well as B2C – Works for small organisations as well as large 21
  21. 21. Digital and classic marketing disciplines 22 Classic marketing disciplines • Advertising • Brand management • CRM & Loyalty • Database marketing • Distribution • Events and experiential marketing • Market research • Marketing strategy • Packaging and labelling • Partner marketing • Pricing • Product/service development • Promotions • Public relations • Retail & shopper marketing • Sponsorship • STP (Segmentation, Targeting & Positioning) • Telemarketing Digital marketing disciplines • Affiliate/performance-based marketing • Content marketing - includes copywriting, video • Conversion rate optimisation (CRO) • Customer/user experience • Digital analytics and measurement • Digital data marketing – schemas, feeds, APIs, metadata, machine- to-machine data • Digital display advertising - includes retargeting, programmatic • Email and eCRM - includes marketing automation, personalisation • Mobile marketing • Online PR – includes online influencer marketing, reputation management • Paid search marketing (PPC) • Search engine optimisation (SEO) • Social media marketing - includes community building, collaboration/co-creation, social CRM, social customer care, social monitoring/listening
  22. 22. M3 unites digital and classic marketing • Customer Insight – Classic: focus groups, surveys – Digital: keyword research, social media analysis • Segmentation & Targeting – Classic: demographic, firmographic, psychographic, behavioural – Digital: contextual, realtime/dynamic, sequential/triggered • Customer Experience – Classic: target segment portraits, Net Promoter Score – Digital: personas, digital analytics/CRO • Distribution – Classic: wholesale, retail, channel management – Digital: affiliates, aggregators, syndication, platforms, viral/sharing 23
  23. 23. Data Competencies (for Modern Marketing) 24 https://www.econsultancy.com/blo g/69899-what-data- competencies-does-a-modern- marketing-function-need
  24. 24. Data Competencies (for Modern Marketing) 25
  25. 25. 26 26 What are the implications of M3?
  26. 26. What does M3 mean for you and your organisation? 1. Take personal and organisational responsibility for developing M3 marketing capability – if you want to succeed in modern marketing 2. Ensure your organisation, your peers in other functions, and your marketing team are clear, and agreed, on the role/remit of marketing in your business – use M3 as a reference 3. Make sure you have the right organisational structure/design for a ‘future-fit’ marketing function 27
  27. 27. Marketing Organisational Design • Typical models: – Segment-centric e.g. “High Net Worth” vs “Mass Affluent” etc – Lifecycle-centric e.g. Acquisition, Conversion, Retention – Product-centric e.g. by brand or product – Channel-centric e.g. store, catalogue, phone, ecommerce – Function-centric e.g. brand, content, growth, social etc. • Variants: – Geography e.g. region super-set – Chief Customer Officer: Sales & Service report to CCO 28
  28. 28. Key considerations for modern marketing • What level of control/involvement for ‘marketing’ in the following: – Data / tech – Content – Customer Experience (inc. Product) 29
  29. 29. (M3-compliant) start-up model?
  30. 30. (M3-compliant) scale-up model?
  31. 31. 32 M3 in full Read/download at http://m3.econsultancy.com
  32. 32. 33
  33. 33. Thank you – questions?

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