In today’s marketing environment, advances have provided marketers with new opportunities through increasing channels and evolving technologies. This should mean that marketing planners are tearing up the old skool rule book…
Marketing just got exciting! Didn’t it?
Digital Marketing, Smartphones, Customer Experience, data and analytics dashboards, CRM Platforms; the improvements in customer targeting and engagement are mindblowing.
But a bit more complicated…
It seems a lack of a grasp on the opportunity to excel, amongst marketers, means campaigns fail to deliver the results and provide consumers with the proper opportunity to engage with brands.
Following on from their Modern Marketing Manifesto in 2013, eConsultancy has now launched the Modern Marketing Model (M3), which aims to give marketers the knowledge to unify both classic and digital marketing into “one future-facing framework”.
So what does a Modern Marketing Plan look like?
M3 depicts the elements of marketing as follows: Marketing strategy; Market Orientation; Customer insight; Brand and value; Segmentation and targeting; Positioning and execution; Customer experience and content; Distribution; Promotion; and finally, Data and measurement.
eConsultancy claims that confusion surrounding marketing and what it actually does is resulting in CMOs having the highest turnover in the C-suite.
As the Harvard Business Review’s ‘The Trouble with CMO’s‘ notes, other members of the C-suite have inward facing roles, whereas CMOs are directly responsible for the way customers engage with the business.
But the high turnover rate means companies can end up experiencing internal disruption, with the revolving door of CMOs bringing in wave after wave of changes in the organisation’s strategic direction.
What’s more, continuing to keep digital and classic marketing separate will further deepen organisational silos, contribute to even less clarity and focus, and result in an increase of duplicated work.
Ultimately, marketers will continue to miss opportunities and will fail to see the growth marketing can deliver.
So Don’t fire your chief marketer!
By providing a clear model, there can be clarification in what organisations expect from the marketing function, leading to full integration of the company’s vision, better campaigns, and improved results.
If you’d like help fusing your marketing strategy into a more streamlined and future-proof model as eConsultancy suggests, why not give Fireworx a call today?