The market changes faster than marketing. In essence, marketing strategy has undergone only two eras, the entity era and the bit era, also known as the industrial age and the digital age. In the age of digital society, all CEOs, CMOs and senior marketing executives must consider how to change their strategies, improve the role of marketing and adopt emerging technological and data tools to integrate with the Internet. The goal of digital marketing strategy is not to disrupt existing marketing strategies, but to complement, integrate and develop the two at the same time. In this book, the authors provide detailed discussion and practical analysis on the relationship between marketing and digital technologies and propose a marketing implementation framework for digital strategy platforms. Standing for Recognize, Reach, Relationship and Return, the 4R system is a powerful strategic trading tool for digital implementation, especially for CEOs and CMOs. All other tools, such as data platforms, content marketing, DSP digital advertising and digital marketing ROI design essentially serve the 4R system. As such, the authors advocate for firms to restructure their digital marketing strategy around the 4R system.
Author(s): Milton Kotler, Tiger Cao, Sam Wang, Collen Qiao
Publisher: World Scientific Publishing
Year: 2020
Language: English
Pages: 370
City: Singapore
Contents
Endorsements
Acknowledgement
About the Authors
About the Translator
Foreword
Preface
Chapter 1: Marketing Environment in the Digital Transformation
1.1 The Digital Environment
1.1.1 Digitalization of information exchange
1.1.1.1 Searching
1.1.1.2 Brand website
1.1.1.3 E-commerce
1.1.1.4 Mobile payment
1.1.1.5 Internet word-of-mouth reputation
1.1.1.6 SoLoMo
1.1.1.7 App
1.1.2 Digitalized interaction for clients
1.1.2.1 Social media
1.1.2.2 Crowdsourcing/Crowdfunding
1.1.2.3 VR/AR
1.1.3 Digitalized data storage
1.1.3.1 Big data
1.1.3.2 Cloud computing
1.1.3.3 Internet of things
1.1.4 Social business model in the 21st century
1.2 Digital Consumer Behavior
1.3 Digital Marketing Layout of Leading Enterprises
1.3.1 Traditional B2C player: SEPHORA
1.3.2 Traditional B2B player: Volvo
1.3.3 Internet B2C player: Amazon
1.3.3.1 Most precise referring capabilities
1.3.3.2 Evolving predictive capability
1.3.3.3 Improving experience
1.3.4 HourlyNerd
1.4 Auditing the Maturity of the Corporate Digitalization
1.4.1 Auditing of the corporate digitalization maturity
1.4.1.1 Phase one: Start and trial
1.4.1.2 Phase two: System and strategy building
1.4.1.3 Phase three: Automatic marketing
1.4.1.4 Phase four: Management of clients as digital assets
1.5 Redefining “Digital Marketing”
Chapter 2: Upgrading Digital Marketing Strategy: Strategic Platform for Digital Marketing
2.1 Evolution of Marketing: From Marketing 1.0 to Marketing 4.0
2.1.1 Changes in strategic orientation
2.1.2 From marketing 1.0 to marketing 4.0
2.1.3 Essence of marketing that remains unchanged
2.1.4 Does your company have a digital marketing strategy?
2.1.5 Good and bad strategies for digital marketing
2.1.5.1 Connection, bit-consumer, data talking, engagement and dynamic improvement connection
2.1.5.2 Bit-consumer
2.1.5.3 Data talking
2.1.5.4 Engagement
2.1.5.5 Dynamic improvement
2.2 Upgrading the Framework of Marketing Management
2.3.1 From conventional research to fragment studies
2.3.2 From text observation to behavior tracking
2.3.3 The disruption of market research by crowdsourcing
2.3.4 From market research to “pan data analysis”
2.3.5 Application of neuromarketing: Exploring the black box of the brain
2.3.6 Capture of big data text
2.4 Upgrading the Marketing Strategy STP in the Digital Era
2.4.1 Market segmentation: From target consumers to consumer network
2.4.2 “Hyper-segmentation” and “dynamic precision” of marketing segmentation
2.4.3 Strategy for choosing target market: To start with the niche market
2.4.4 KOL: The choice of target user circles
2.4.5 Periodic curves of angel users and adoption of technology: Iterating and upgrading target customers
2.4.6 Positioning: Logic of strategy, category and link
2.5 Upgrading Product Strategy in the Digital Era
2.5.1 From the observation-oriented mode to the evidence-based and MVP mode
2.5.2 Boundary expansion to “product + community”
2.5.3 From big idea to big data
2.5.4 Product service: From possessing to sharing
2.6 Upgrading Price and Channel Strategies in the Digital Age
2.6.1 From charging to free of charge and subsidies
2.6.2 From indifference to dynamic pricing and pricing based on scenes
2.6.3 Channel strategy: From single-channel and multi-channel to O2O and O2M
2.6.3.1 First: Integration on the basis of channel-specific assortments
2.6.3.2 Second: Integration of in-store experience and added value
2.6.3.3 Third: Convenient accessibility
2.6.3.4 Fourth: Omni-channel integration
2.6.4 Channel strategy: The combination of touchpoints and channels
2.7 Upgrading Branding Strategy in the Digital Age
2.7.1 From value-orientated to values-orientated
2.7.2 From persuader to participator and enabler
2.7.3 From hard-sell advertising to the marketing of content and data
2.7.4 Brand characteristics matter: Charming economy
2.8 Upgrading Customer Service Strategy in the Digital Age
2.8.1 From customer relationship management to social customer relationship management
2.8.2 From customer service representatives to all staff participation
2.8.3 From sales oriented to dialogue based: Experience management
2.8.3.1. How to address crises through conversation?
2.8.4 From tiered customer management to core circle and community management
Chapter 3: Recognize in the 4Rs: Digital Profiling and Recognition of Consumers
3.1 Digital Marketing Strategy Model and the Application Framework of 4R
3.2 What is Consumer Profiling
3.2.1 Origin
3.2.2 Evolved concepts: From why to what
3.2.3 Big data customer profiles: Reforming marketing paths in the era of big data
3.2.4 How customer profiles are generated
3.3 Advantages/Features of Big Data Consumer Profiling
3.3.1 Panoramic: From samples to entirety
3.3.2 Transparent: Multi-layered, multi-dimensional
3.3.3 Precise: Accurate and deep insight
3.3.4 Dynamic: Responding to changes by changing
3.4 Converting Customer Profiles into Business Value
3.4.1 Making marketing more efficient: Precise matching
3.4.1.1 Accurately identify target customers: Finding the right person
3.4.1.2 Product design/iteration: No more and no less; no early and no late
3.4.1.3 Choice of channels and placement time: Good ideas are valuable only if channels and moments are right
3.4.1.4 Design of content and promotions: Appeal to the right clients
3.4.1.5 Strategies for choosing regional markets: Accurately capture features and demands of consumers in different markets
3.4.1.6 Customer value management: Activating customer asset, increase sales conversion
3.4.1.7 Malleable research: Reducing the number of research and lowering the cost of marketing
3.4.2 Make marketing more anticipating: Looking at the present from the future
3.4.2.1 Accurately assessing the market and reasonably distributing the resources to increase ROMI
3.4.2.2 Customer demands estimate boosts optimization of inventory
3.5 Customer Journey Map
3.5.1 Are we really providing good customer experience?
3.5.2 What is the customer journey map?
3.5.3 Elements of customer journey map and how it is made
Chapter 4: Reach in the 4Rs: Coverage and Arrival of Digital Information
4.1 Coverage and Reach of Digital Information
4.1.1 Four ways of digital information coverage and reach
4.1.1.1 Type 1: Active push
4.1.1.2 Type 2: Active demonstration
4.1.1.3 Type 3: Trusted agent
4.1.1.4 Type 4: Asset exchange
4.2 Methods of Digital Information Coverage and Reach
4.2.1 Search engine optimization
4.2.1.1 Pyramid of SEO demand
4.2.1.2 SEO trends
4.2.2 Intelligent recommendation
4.2.2.1 Process of intelligent recommendation
4.2.3 Digital advertising
4.2.3.1 Stage one: The era of website purchase
4.2.3.2 Stage two: The era of search and buy
4.2.3.3 Stage three: The era of user
4.2.4 Content marketing
4.2.5 E-mail marketing
4.2.5.1 Process of developing the e-mail marketing strategy
4.2.6 Social media marketing
4.2.6.1 Evolution and layout of social media platforms
4.2.6.2 Strategies for different social platforms — Weibo marketing
4.2.7 Mobile marketing
4.2.8 App marketing
4.2.9 SoLoMo
4.2.10 O2O Reach
4.2.10.1 Characteristics of O2O from different perspectives
4.2.10.2 O2O business mode
4.2.11 Video marketing
4.3 From Owned Media, Paid Media and Earned Media to Mixture
Chapter 5: Relationship in the 4Rs: Establishing a Basis for Continuous Relationship
5.1 Digitalizing: The Basis for Sustained Relationship
5.1.1 Iron triangle with customers at the center
5.2 Constructing Relationship in the Digital Era
5.3 Identifying the Objectives of Relationship Strategies
5.4 Actions to Establish the Ground for Sustained Relationship
5.4.1 Step one: Establishing connections
5.4.1.1 Creating a connection platform
5.4.1.2 Connecting clients/consumers
5.4.1.3 Connecting horizontally with enterprises
5.4.1.4 Connection within the enterprise
5.4.2 Step 2: Building communities
5.4.2.1 Attention to the positioning of community groups
5.4.2.2 Building a brand group
5.4.2.3 Full coverage of digital connection interfaces
5.4.2.4 Not only media but also marketing
5.4.2.5 Coordination of functions between traditional and digital interfaces
5.4.3 Step 3: Implementing social customer relationship management platforms
Chapter 6: Return in the 4Rs: Making Deals and Profits
6.1 Returns
6.2 Methods for Realizing Returns
6.3 Turning Community Membership into a Good
6.4 Turning Community Values into Goods
6.5 Expanding Community as Media Network
6.6 Expand Community Members as Channels
6.6.1 Expand the potential customer base by the current community base
6.6.2 Realize sustainable sales on the current community base
6.7 Attract Talents Using the Current Community Base
6.8 Marketizing Community Trust
6.9 Digitizing Community Information
6.9.1 Internal data
6.9.2 Data from the outside
6.9.3 Applied business technology on data
6.9.4 Turning community information into goods
Chapter 7: Big Data Marketing Platforms: Applications of Big Data in Marketing
7.1 Big Data vs. Digital Marketing
7.1.1 What, in fact, is big data?
7.1.2 The five features of big data
7.1.2.1 Volume: Big to full sample
7.1.2.2 Variety: All-dimensional
7.1.2.3 Velocity: Real-time change
7.1.2.4 Online: The dynamic storage of data
7.1.3 Commercial applications of big data
7.2 Commercial Applications of Big Data in Digital Marketing
7.2.1 User behavior analysis
7.2.2 User profiles
7.2.3 Brand positioning
7.2.4 KOL management
7.2.5 Brand content marketing
7.2.6 Public opinion monitoring and reputation detection
7.2.7 Community discovery and search
7.2.8 Accurate advertising
7.2.9 Account-based marketing
7.2.10 Intelligent customer service by robots
7.2.11 Management of the market or internal knowledge
7.3 Data Sources
7.4 Obstacles to Data Integration
Chapter 8: Content Strategy of Digital Marketing
8.1 What is Content Marketing?
8.2 Key Points in Content Marketing
8.3 Steps in Content Marketing
8.3.1 Planning the goal of content marketing
8.3.2 Content creation strategy
8.3.2.1 Theme planning
8.3.2.2 Search engine
8.3.2.3 Content distribution and optimization
8.3.2.4 Establishing supply chain of content
8.4 How to be “Contagious” in Content Marketing
Chapter 9: Organizational Platform for Digital Marketing
9.1 Introduction to Organizational Structures in the Digital Era of Connectivity
9.1.1 The dendritic structure, the network structure and the Rubik’s cube structure
9.1.2 Exponential organizations
9.2 An Odyssey: The Journey of Marketing Organizations
9.3 Make Marketing Happen: Three Principles of New Marketing Organization Design
9.3.1 Principle one: An agile organization — a distributed structure with both centralization and authorization
9.3.2 Principle two: A process-oriented organization — switching the focus from function to process
9.3.3 Principle Three: A Performance-oriented organization — integrating marketing processes and data chain closely
9.4 Reorganizing Marketing Structures
9.4.1 Redesigning organizations
9.4.2 Five steps to digitize organizational structures
9.4.3 The relationship between marketing and IT
9.4.4 Organizational collaboration in digital age
9.4.5 Searching for a Da Vinci: New marketing staff and skills
9.4.6 Digital transformation accelerator
Chapter 10: Management and Measurement of the Performance of Digital Marketing
10.1 What is to Measure in Digital Marketing?
10.1.1 Digital index 50:50 digital indices
10.1.2 Measuring digital marketing: Vanity metrics
10.2 Metrics for Evaluating Digital Marketing: How to Avoid “Vanity”?
10.2.1 Types of digital metrics
10.2.2 Measurement model of the market of digital marketing
10.2.2.1 Model building
10.3 Performance Management and Measurement of Digital Marketing
10.3.1 Measurement based on social media links
10.3.1.1. In the era of social media: 5A Rule of consumers’ growth path
10.3.2 Digital marketing performance measurement based on the consumers’ purchasing act
10.3.3 Using the 4R model to evaluate digital marketing
10.3.4 Investment feedback
Index
