Strategic Marketing 2024-25 - Module 6 PDF

Strategic Marketing 6 – Digital & Social 2024-2025 Olivier Schunck [email protected] 21GE022 – Strategic Marketing - Module 6 1 GUEST SPEAKER Stephanie Timpe Senior Digital Marketing Consultant 21GE022 – Strategic Marketing - Module 6...

Strategic Marketing 6 – Digital & Social 2024-2025 Olivier Schunck [email protected] 21GE022 – Strategic Marketing - Module 6 1 GUEST SPEAKER Stephanie Timpe Senior Digital Marketing Consultant 21GE022 – Strategic Marketing - Module 6  Video 21GEO22A – Strategic Marketing - Module 6  Course Outline Marketing’s A brief history of Marketing Digital & Marketing strategy in the 1 6 Journey and where it stands today Social Digital Era Strategic Basics of Marketing Strategy Emerging AI, Gen AI & emerging tech- 2 7 Marketing explained, step-by-step technology led Marketing Reinvention Customer Customers’ behavior & needs Brand & Brand identity, trust and 3 8 Centricity and distinctive experiences Purpose purpose-driven marketing Research & Customer intelligence driven Responsible Marketing in times of crisis: 4 9 Insights by data/AI & human insights Marketing Sustainable and Ethical Market & Competitive advantage to Agile Resilient & agile marketing 5 10 Competition stand out and innovate Marketing operating models Note: To align to the presentations of guest speakers, the order of modules 5 to 9 has been slightly changed 21GEO22A – Strategic Marketing - Module 6 4  Today’s focus Marketing’s A brief history of Marketing Digital & Marketing strategy in the 1 6 Journey and where it stands today Social Digital Era Strategic Basics of Marketing Strategy Emerging AI, Gen AI & emerging tech- 2 7 Marketing explained, step-by-step technology led Marketing Reinvention Customer Customers’ behavior & needs Brand & Brand identity, trust and 3 8 Centricity and distinctive experiences Purpose purpose-driven marketing Research & Customer intelligence driven Responsible Marketing in times of crisis: 4 9 Insights by data/AI & human insights Marketing Sustainable and Ethical Market & Competitive advantage to Agile Resilient & agile marketing 5 10 Competition stand out and innovate Marketing operating models Note: To align to the presentations of guest speakers, the order of modules 5 to 9 has been slightly changed 21GEO22A – Strategic Marketing - Module 6 5 Digital & Social Media Marketing Evolution and trends 21GE022 – Strategic Marketing - Module 6  A few key definitions… Digital marketing is the application of digital media, data and technology integrated with traditional communications to achieve marketing objectives. Digital media are content and interactive services delivered by different digital platforms including the Internet, web, mobile, TV and digital signage. E-commerce relates to all financial/informational electronically mediated exchanges between an organization and its external stakeholders. E-commerce and Digital Marketing are distinct. Social commerce is a subset of e-commerce encouraging customer interaction and participation rating, selecting and buying products through group buying Content marketing creates valuable, informative, and engaging content on digital media (and beyond) to attract and retain audiences. Source: Dave Cha!ey, “Digital Marketing: Strategy, Implementation and Practice”, Pearsons, 2019; Wikipedia; Investopedia. 21GEO22A – Strategic Marketing - Module 6  A few key definitions… (cont’d) Social media marketing refers to the use of social media platforms, where users build networks and share information to achieve marketing objectives. Influencer marketing is a form of social media marketing involving endorsements from influencers, who are an alleged expert or a person of influencer in their field Affiliate marketing is an advertising model in which a company compensates a third-party publisher (=affiliate) to generate traffic/leads for its products & services Search engine optimization (SEO) is the process of improving the quality/quantity of (unpaid) website traffic to a website or a web page from search engines. Pay-per-click (PPC) is a form of online marketing where advertisers pay each time a user clicks on one of their ads. Source: Dave Cha!ey, “Digital Marketing: Strategy, Implementation and Practice”, Pearsons, 2019; Wikipedia; Investopedia. 21GEO22A – Strategic Marketing - Module 6  Three intersecting key online/digital media types Paid media: Also known as bought media, a direct payment occurs to a site owner or an ad network when they serve an ad, a sponsorship or pay for a click, lead or sale generated. Gain more Propel sharing & Owned media: Different forms of exposure with engagement with online media controlled by a SEO and PPC paid promotion company/brand including their website, blogs, email list and social media presence Earned media: The audience is reached through editorial, comments and sharing online without any payment of the company e.g. a Drive more endorsements (=earned consumer leaving a positive review. media) trough SEO, relevant brand content and social widgets Source: adapted from Dave Cha!ey, “Digital Marketing: Strategy, Implementation and Practice”, Pearsons, 2019 21GEO22A – Strategic Marketing - Module 6 Poll – Facts about Digital marketing How many logos/ads per day are consumers exposed to? What’s the average attention span ….of a consumer?...of a Gen Z consumer (~12-28 years old, today)? What portion of global advertising spend goes to digital? What are the most impactful channel for B2B marketing? 21GE022 – Strategic Marketing - Module 6 10 Answers – Facts about Digital marketing How many logos/ads per day are consumers exposed to? 4.000-10.000 per day (in US) What’s the average attention span ….of a consumer? 8 sec...of a Gen Z consumer (~12-28 years old, today)? 1.3 sec What portion of global advertising spend goes to digital? ~70% in 2024 (estimate by eMarketer) What are the most impactful channel for B2B marketing? Email marketing - 50% Social Media - 33% Content marketing - 26% Digital advertising - 18% Partnerships - 16% 21GE022 – Strategic Marketing - Module 6 11  Integrating Traditional and Digital Marketing Companies combine traditional and digital marketing channels along the customer journey touchpoints into what is called omnichannel marketing For Kotler, “digital marketing is not meant to replace traditional marketing. Instead, the two should coexist with interchanging roles across the customer path” Source: adapted from Philip, Kotler, “Marketing 4.0 in the Digital Economy”, 2017 21GEO22A – Strategic Marketing - Module 6  Video 21GEO22A – Strategic Marketing - Module 6 Task – What are key benefits & challenges of Digital Marketing? 21GE022 – Strategic Marketing - Module 6 14 Answer – Selected key benefits & challenges of Digital Marketing? Global reach & scale at fast speed Too much noise, over-saturated Generally more cost-effective Reputation risks via viral effects Real-time performance tracking Data privacy & regulations Data-led hyper-personalization Rapidly Evolving Technology Flexibility and adaptability based Seamless and secure CX across on sudden market changes… all channels difficult to achieve 21GE022 – Strategic Marketing - Module 6 15  Digital Marketing effectiveness “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” John Wanamaker (1838-1922) Source: eMarketer.com, 2018/2022 21GEO22A – Strategic Marketing - Module 6 Evolution of Digital Marketing – Key milestones E-mail marketing / Database marketing E-commerce/dot.com era Social Media & Mobile Note: See module 7 Content Marketing for future digital Data-led & Omni-channel marketing trends based on emerging Video & Influencer Mktg technologies Source: adapted from AIS media 21GEO22A – Strategic Marketing - Module 6  Zoom into: Influencer Marketing From celebrity endorsement to micro- and nano- influencers Partnership are based on authenticity, trust and long-term relations Expansion of the Creator Economy estimated to $250 billion in 2023 Source: Goldman Sachs report, 2023; McKinsey, 2023; Forbes, 2023 21GEO22A – Strategic Marketing - Module 6  Video Video 21GEO22A – Strategic Marketing - Module 6 Zoom into: Evolving formats (selected illustrations) Short-form Voice marketing / Meme video formats Voice SEO marketing 21GEO22A – Strategic Marketing - Module 6 Zoom into: D2C business model (Direct to Consumer) Consumer goods companies have move to the direct-to- consumer model This implies that they must rely heavily on digital marketing and E-commerce capabilities 21GEO22A – Strategic Marketing - Module 6 Case – Recent experimentation of incumbent automotive firms with direct-to-consumer sales models 21GE022 – Strategic Marketing - Module 6 22 Case – Recent experimentation of incumbent automotive firms with direct-to-consumer sales models Traditional dealer model Agency model Fully owned model Most incumbent automotive companies Piloting/experimenting 21GE022 – Strategic Marketing - Module 6 23 Case – When shifting to a D2C model what are implications for automotive companies’ digital marketing ? 21GE022 – Strategic Marketing - Module 6 24 Answer – When shifting to a D2C model what are implications for automotive companies’ digital marketing ? Digital marketing is foundational for brand presence, customer acquisition and retention, pushing automotive firms to invest in data- driven & interactive digital strategies. Better Brand Consistency Customer Data Ownership/CRM Hyper-personalization/targeting Pricing consistency Global/localized campaigns … 21GE022 – Strategic Marketing - Module 6 25  Video 21GEO22A – Strategic Marketing - Module 6  Thank You! Do you have questions or would like to share your feedback? [email protected] 21GE022 – Strategic Marketing - Module 6 Links to videos in this presentation Importance of right metrics - Adobe commercial https://www.youtube.com/watch?v=oyBuB6VO9v8 Sephora’s omnichannel experience https://www.youtube.com/watch?v=fqkao47kXtg&t=16s The Creator Economy https://www.youtube.com/watch?v=94-xtirX0Lo Landing page optimization – Google Analytics commercial https://www.youtube.com/watch?v=N5WurXNec7E&t=84s 21GEO22A – Strategic Marketing - Module 6 28