A Backbone yesterday is a Pinsetters today and a socially enabled, real-time, mobile personal assistant tomorrow. The objective of this paper is to look at the impact digital marketing has on sales especially in emerging markets. The major aspects of digital marketing that would be covered are as mentioned below: Digital Marketing Essentials Multinational Marketing Data-Driven Marketing Mobile Marketing Modernized Digital Marketing through Commerce Social Marketing Evaluating the Impact of digital strategy: Evaluation of the true Impact’ of the digital marketing strategy & spend, Is a multi- phase journey.
It could be broken down into five distinct phases: Transgressing & Reporting Disregarding Statistical Analysis Predictive Analysis Optimization entries in the digital environment. It would also study the “digital divide” and the differential pattern of developing and least developed countries in take-up of the new technologies, the changing nature and demographics of Internet use as well as the role of innovation and creativity in making digital marketing a success.
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The Evolution of Digital Marketing in Developing markets The Digital Divide Access & Participation in the Digital Economy Opportunities & Challenges The paper studies and analyzes the influence on the ups of Marketing by the onset of the Digital Revolution and the dominance of accessible information through the Internet. It has changed the way consumers spend their money and the way they shop for products and seek services. Like the Industrial Revolution, today’s Digital Revolution has changed the ways in which people live their daily lives and the manners in which companies practice business.
In marketing, strategy has greatly shifted away from material and into more liquid avenues and flexible ways of reaching consumers. Because people have altered their spending habits, so too have marketers changed the ways of reaching their customers and creating products focused on the new needs of the consumer today. Advertisement and sales have shifted away from tangible methods of reaching people such as print ads and newspaper and into digitized networks that offer to target a larger audience at a fraction of the cost.
The impact of the Digital Revolution on marketing cannot be ignored as indeed, it has completely changed the industry in a way never previously conceived. INTRODUCTION: “The Internet is becoming the town square for the global village of tomorrow” -Bill Gates Emerging markets are countries experiencing relatively recent industrial, political and technological change resulting in rapid economic growth. Emerging markets over more than the Brick (Brazil, Russia, India, China, South Africa), however; these countries are amongst the buoyant emerging giants.
Large populations generally characterize these markets, as is obvious with China and India. They tend to be dominated by young populations and rising middle classes. As business revenues plateau in saturated, developed markets, expansion into emerging markets is a popular means for reaching new growth targets. Although these countries are affected by the global recession, many remain in robust growth positions. The endeavourer of international business involves uncertainty and risk, however; this can e mitigated by the internet.
How the Global Digital Era and Emerging Market Growth is Transforming the Marketing Agenda? Senior executives in developing economies, working in organizations, small and large, are asking the following questions: How can we get How can our business mitigate risks when we enter risky, high-growth emerging markets? How can we measure marketing activities and sales-related results in these markets? The increasing mobility of the consumer is a good development for any business.
Marketing to a constantly on-the-go consumer is like trying to hit a moving target. Direct digital marketing is an addressable marketing method where relevant marketing communications are delivered to individuals through the e-mail, Web, and mobile channels using an e-mail address, a Web browser cookie, and a mobile phone number. The principles of direct digital marketing??addressability, message relevance, and personalization??are ideal for restaurant marketers and their customers.
Leveraging the full value of direct digital marketing requires going beyond the tried and true e-mail marketing strategies that have been used for the last 10 years and building a strong relationship with a consumer at each touch-point hey value. Literature Review: Research Paper 1: Social Media’s Influence on Business-to-Business Sales Performance Michael Rodriguez, Robert M. Peterson, and Visa Kumar Krishna The implementation of social media technology in a firm’s marketing strategy has been adopted by some forward-thinking sales forces. Sharing content and building a network of contacts are the principles behind social media.
The utilization of social media (e. G. , Linked and Twitter) for reaching business-to-business clients is a relatively new phenomenon with performance outcomes essentially unknown. Data were collected from 1,699 cuisines-to-business salespeople from over 25 different industries. Using structural equation modeling, the findings support that social media has a positive relationship with sales processes (creating opportunities and relationship management) and relationship sales performance. The paper covers the overview of social media and growth which includes the evolution of social media.
It also covers the current challenges and obstacles for business-to-business sales. Going back to the history the paper covers the theoretical background which includes: Social Capital Theory Sales Technology Adoption From Social Media to Social CRM Creating Opportunity Most importantly, the paper covers the managerial implications to discuss foundation for building value with customers. It covers Justification for use of social media tools for BIB sales organizations and makes a pioneering contribution to the existing literature stream pertaining to sales technology.
The paper ends with a thought that both industry practitioners and academics should elevate the research on the social media landscape and measure its effectiveness in BIB sales. By making social media an intricate part of the marketing increase collaboration via two-way conversation, gain incredible customer insight, and as a result, achieve a true 360-degree view of their customer, all while continuing to profit. Research Paper 2: The Future of Shopping Authors: Rugby, Darrell Source: Harvard Business Review, Decided When the dot. Mom bubble burst 10 years ago, the ensuing collapse wiped out half of all online retailers. Today, commerce is well established and much digital retailing is now highly profitable. As it evolves, digital retailing is quickly morphing into something so different that it requires a new name: mechanical retailing. The name reflects the fact that retailers will be able to interact with customers through countless channels-websites, physical stores, kiosks, direct mail and catalogs, call centers, social media, mobile devices, gaming consoles, televisions, networked appliances, home services, and more.
If traditional retailers hope to survive, they must embrace mechanical retailing and also transform the one big feature internet retailer’s lack-stores- from a liability into an asset. They must turn shopping into an entertaining, exciting, and emotionally engaging experience by skillfully blending the physical with the digital. They must also hire new kinds of talent, move away from outdated measures of success, and become adept at rapid test-and-learn methodologies.
A successful mechanical strategy should not only guarantee a retailer’s survival-no small matter in today’s environment-but also deliver a revolution in customers’ expectations and experiences. The idea in brief that the paper gives is as under: A decade after the dotcom implosion, traditional retailers are lagging in their embrace of digital technologies. To survive, they must pursue a strategy of mechanical retailing: an integrated sales experience that melds the advantages of hysterical stores with the information-rich experience of online shopping.
Retailers face challenges in reaching this goal: Many traditional retailers arena technology- sax. N. Y. Few are adept at test-and-learn methodologies. They will need to recruit new kinds of talent. And they’ll need to move away from analog metrics like same-store sales and focus on measures such as return on invested capital. Traditional retailers must also transform the one big feature internet retailers lack–stores–from a liability into an asset: They must turn shopping into an entertaining, exciting, and emotionally engaging experience. Companies like Disney, Apple, and Cordon’s Furniture are leading the way.
Research Paper 3: The Effects of Traditional and Social Earned Media on Sales: A Study of a Microfilming Marketplace. Authors: Stephen, Andrew T, Gala, Jeff Marketers distinguish three types of media: paid (e. G. , advertising), owned (e. G. , company website), and earned (e. G. , publicity). The effects of paid media on sales media, however, have received limited attention. The authors examine how two types of earned media, traditional (e. G. , publicity and press mentions) and social (e. G. , blob and online community posts), affect sales and activity in each other.
They analyze 14 months of daily sales and media activity data from a microfilming marketplace website using a multivariate autoregressive time-series model. They find that (1) both traditional and social earned media affect sales; (2) the per-event sales impact of traditional earned media activity is larger than for social earned media; (3) because of the greater frequency of social earned media activity, after adjusting for event frequency, social earned media’s sales elasticity is significantly greater than traditional earned media’s; and (4) social earned media appears to play an important role in driving traditional earned media activity.
Research Paper 4: The Analysis of the Digital Marketing Communication Strategy of Exhibition Enterprises Chunk Lei Abstract: Along with internationalization and informational, China’s tourism industry becomes more integrated, relational and competitive. At the same time, our exhibition industry welcomed a new opportunity. Especially the informational development creates new conditions to the exhibition marketing activities.
The digital marketing gets great concern and application in the exhibition business. Based on the basic characteristics of digital marketing, this paper analyses exhibition enterprise digital marketing situation and predicament. It also proposes new exhibition digital marketing communications strategy in the network information age. The new strategy helps the exhibition enterprises to a better marketing and customer value. It is meaningful of promoting the exhibition internationalization.
Research Paper 5: Understanding digital content marketing Jennifer Rowley, Manchester Metropolitan University, I-J Abstract: This article argues that as the importance of digital content to business and society grows it is important seek a holistic perspective on the definition and nature f digital content marketing (DC). Along the Journey it becomes evident that a recurrent theme in DC is customer value, and this leads into the second major contribution of the article, an exploration of the notion of customer value in digital content marketplaces.
Digital content is defined as: ‘bit-based objects distributed through electronic channels’. A structured analysis is conducted on the basis of a set of questions in order to surface some of the unique characteristics of digital content marketing. The analysis is informed by a literature review, and the exploration of numerous web sites which deliver different types of digital content. The conclusion summarizes the unique characteristics of digital content, and associated consequences for digital content marketing.
It focuses on the impact of the difficulty in developing a notion of Value’ in the context of digital content, and its communications and branding, and licensing and digital rights management. In addition, the customer’s experience of digital content is influenced by all stakeholders in the value chain as well as requiring the customer to participate in learning and co-creation of the experience.
The potential of the Value-in-use’ notion f customer value as a basis for ensuring that consumers are fully engaged as stakeholders in the content economy is discussed. On this basis recommendations for practice and further research are developed. Research Paper 6: Mobile digital technology: Emerging issues for marketing Gillian Sullivan Mort Judy Adrenal Abstract: The growth of direct marketing has been attributed to rapid advances in technology and the changing market context.
The fundamental ability of direct marketers to communicate with consumers and to elicit a response, combined with the ubiquitous nature and power of mobile digital technology, provides a synergy hat will increase the potential for the success of direct marketing. The aim of this paper is to provide an analytical framework identifying the developments in the digital environment from e-marketing to m-marketing, and to alert direct marketers to the enhanced capabilities available to them.
ARTICLES: Article 1 : DIGITAL AND SOCIAL MEDIA MARKETING USAGE IN BIB INDUSTRIAL SECTION JOEL J??IRVINE, Snugly university EARNER TOWLINE, Snugly university HISTORIOGRAPHERS, Snugly university CHINA AWKWARDNESS, Hull university This article contributes to the emerging BIB digital marketing literature by providing realistic overview of the usage, measurement practices, and barriers surrounding digital marketing in the era of social media.
Investigating 145 BIB firms from various industries reveals that despite the interest in social media, companies continue to focus on one-directional communications with established digital tools. Furthermore, the results indicate that the advances in digital measurement tools remain largely unexploited, and the firms lack the human resources and know-how to make the most of opportunities provided by the developing digital environment.
The implications of the study suggest that BIB companies should update their abilities with respect to digital marketing usage and measurement in order to adapt current practices to fit the characteristics of today’s digital media landscape. Article 2: Globalization, evolution and emergence of direct-to-consumer advertising: Are emerging markets the next pharmaceutical marketing frontier? Tim K. Mackey Bryan A. Liana ABSTRACT entered the digital revolution.
This is exemplified by the rise of direct-to-consumer- advertising (“DACCA”), which has traditionally been only allowed in the United States and New Zealand in developed countries, but is now expanding in reach to other restrictions. Enabling the “globalization” of pharmaceutical DACCA is Internet-related technologies that are not limited to geographical borders and are highly unregulated. This DACCA digital “spillover” into markets that prohibit it can have adverse impact on health outcomes and health-related spending.
Emerging markets may represent the next logical step for digital DACCA proliferation, given their untapped market potential and explosive growth. Further research and global health policy reform is necessary to address this “emerging” global health issue. Article 3: MARKETING the DIGITAL LANDSCAPE Kevin Source: NZ Business The article discusses the positive impact of digital marketing on business enterprises in New Zealand in 2010. The Web Co. Chief executive officer (CEO) Jukes Summary says that the rise of social media networks like Twitter and Backbone allows businesses to communicate more easily with target customers.
According to him, social media marketing is a very powerful form of advertising because it allows customers to talk and participate. Details of how clients can venture into digital promotion and the benefits of online marketing are also discussed. SECONDARY RESEARCH: E-mail marketing is still useful, but it has evolved into more of an informational communications channel. Consumers cannot take immediate action??they cannot make a direct purchase??from an e-mail. While it is true that some consumers now oriented channels of mobile (text messaging) and the Web.
As a result of e-mail’s role shift, the marketing communications delivered through e-mail must also shift to be more relationship oriented by providing general information about upcoming specials, for example. While the e-mail channel is informational, the mobile channel facilitates action. Even the least sophisticated mobile devices have text message capabilities. To maximize reach and impact of any mobile program it is important to use the most common form of non-voice mobile communications: text messaging.
Sending text messages containing special short-lived offers or limited-time coupons, and even enabling the placement of an order via mobile, are simple programs for marketers to set up and easy for consumers to use. Getting the most out of any type of mobile marketing requires an effective approach for capturing the consumer opt- in. Using the traditional marketing channels like television and radio, along with on- action collateral like table tents and counter mats, helps rapidly capture the necessary opt-ins to build a critical mass and maximize the effectiveness of any mobile direct digital marketing program.
While the ease and effectiveness of mobile marketing is enticing, remember that saturating a mobile subscriber’s inbox is a quick way to lose a subscriber. Even though e-mail promotions can be accessed on some mobile devices, they do not have the instant impact of a mobile promotion. For a consumer to get real value from an e-mail coupon they need at least a week to redeem it. A mobile offer can be set to expire hours after delivery, not days. Understanding the distinction consumers make between these two channels is crucial to maximizing opt-ins and getting the most out of what direct digital marketing delivers.
Direct digital marketing??especially through the mobile channel ??gives marketers the power to easily communicate to consumers no matter where they are or what they are doing. Properly implementing effective direct digital marketing programs is a fast and easy way to increase local foot traffic and boost sales with a limited investment. Paid Media Display Banner Advertising Display banners or banner ads are online display ads delivered by an ad server on a be page. It is intended to attract traffic to a website by linking to the website of the advertiser.
Viewers can click on these ads to either watch on the page itself or get routed to advertiser’s website. Paid Search Paid Search also known as Search Engine Marketing is used by advertisers o show relevant ads on Search Engines. For instance, a search for “Bleach” on a search engine, would throw up sponsored links on the top and on the right hand side of the page. These are Paid Search advertising links. Paid Search typically accounts for around 10-15% of the total digital advertising budget. Streaming TV is streaming video execution done on a digital platform.
When advertising videos are shown on websites such as BBC. Com, Google. Com or others it’s called Streaming TV. Simplistically speaking it is an extension of television viewers. As television viewers starts moving to the digital channels, advertisers are moving money from television to digital media. Steaming TV accounts for around 15-20% of total digital advertising budget. Digital Coupons Digital coupons are the online counterpart of regular print coupons and are heavily used by CAP and other Consumer Products marketers, as a price discounting tedium.
Advertisers want to initiate trial & re-purchase by enticing consumers through price discounting. They account for approximately 2-5% of all digital advertising. Owned Media Company Websites Company websites are one of the most often used media to communicate the company and brand vision to the customer. It is also used as a tool to enable e- commerce for the advertiser’s products. Most of digital marketing, ultimately induces the viewer to visit the company website, hence it probably is THE most important part of your digital armory. Websites typically consume 10-15% of the digital marketing edged.
Social Media Social Media is a part of owned digital media marketing. Overall clients spent about 6-10% of their digital media on Backbone & other social media sites. CASE IN POINT: BRAZIL From e-commerce solutions like Papal and Google Checkout, to crowd-sourcing, user- generated content and education distribution platforms like Youth, technological innovation has made it easy to find new markets and sell to them. Additionally, low- cost digital recording, editing and storing facilities have made it simple and affordable to create, produce and distribute creativity around the world.
A look at owe the Internet has created new opportunities for creativity in emerging economies makes the story even more interesting. The grander dame of fashion, Coco Channel, once said, Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live and what is happening. ” The world of the greatest fashion designers in Europe and the United States was to all intents and purposes unlimited because they had the resources to travel and explore the globe for inspiration.
But designers in poorer countries did not have the same access to a world of new ideas. The Internet has allowed designers in emerging markets to see images from the catwalks of fashion weeks, giving them insight and access to popular trends in export markets. The Internet is an important part of their business strategy. Offers sent via email build their relationship with customers and investors, and the Internet has become a source of inspiration. It helps the companies search for new products and scout for new talent.
This holds true for and art and even advertising. Creative in these industries are finding that the Internet is a means for them to scout the world for trends and inspiration at the name time as it provides a platform to promote their work. The Internet has also opened a new world of education through open-learning models that have improved literacy and education levels across the globe particularly in countries where public education is limited, A recent study by Symantec research in 12 countries (Australia, Brazil, Canada.
China, France, Germany, India, Italy, Japan, Sweden, the United Kingdom and the United States) found that Brazilian children spend the most time online – up 70 hours a month – and reading online is considered as valid as reading a book. SALES PERFORMANCE The study suggests that digital technology can enable sales professionals to improve sales performance, such as efficiency with administrative and relationship forging tasks and sales process effectiveness. Sales performance is defined as “behavior evaluated in terms of its contribution to the goals of the organization”.
In the current study, performance is separated into two categories that conceptualize the two areas of sales performance constructs: relationship performance and outcome-based performance. Relationship sales performance is based on relational measures of ales performance that focus on behaviors that strengthen the relationship between buyers and sellers. Outcome-based sales performance measures are an important aspect in measuring salesperson performance, and are reflected by quota achievement, growth in average billing size, increases in sales productivity, and overall revenue gain.
Superior relationship sales performance should subsequently drive a superior outcome-based sales performance. Past studies support that relational sales behaviors with customers are a “key aspect of externally oriented sales performance”. Although these two aspects of performance are expected to be related, theoretically, they are different aspects of sales performance. Social media, used to enhance a firm’s social capital, may influence both relationship and outcome-based aspects of sales performance.
For instance, relationships developed through the social media network can increase the pool of qualified prospects and enhance relationships with current customers, which might lead to increased customer retention. Firms using social media technology may communicate with customers who are comfortable using social media to search for information on products or services that fulfill their business needs. Using social media may help organizations better serve current clients by distributing value-added content or provide more effective communication.