pob stage 2 marketing seminar 7 post students
TRANSCRIPT
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Seminar: Assessing the new 4P model
Topic Number:7
Principles of Business: Stage 2 Marketing
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Overview
With digital tipped to be the major growth area of the future it isworth considering how it influences and shape the marketinglandscape.
We have seen a host of implications that will impact digitalmarketing in the future such that culminate into a recentlydeveloped new 4P model for the digital future. Today’s seminarwe will look at this model and assess each new ‘P’ to determinethe viability of the model.
We will start by looking at the role of permission and the right toonly be contacted if prior consent was given. Secondly, we willassess whether we need to subtly persuade customers topurchase from an organisation. Thirdly, we will look at the needto adapt and personalise communications to the target audienceand finally the need to be present and represented across allchannels in a seamless way.
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3
• Critically assess an upcoming digital framework highlighting its pros and cons
• Determine and discuss the extent to which the new 4P framework holds true in marketing activities in the future
• Assess the extent to which some aspects of the framework may take precedence over the others
Learning outcomes of this seminar
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Agenda for this seminar
Permission: The importance of providing consent to be contacted
Personalisation: The need to speak to every customer as an individual
Presence: Being represented across all channels from bricks andmortar to social media
Persuasion: The art of subtly getting people to buy your products
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Permission: The
importance of providing
consent to be contacted
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Consider your own experience
You visit a website or log-in to an account
You inadvertently signed-up to their newsletter
daily
How do you normally feel and react to this?
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What are anti-spam laws?
Anti-spam law restricts the sending of unsolicited marketing emails
(‘spam’) to individual subscribers. Unsolicited emails can still be sent to
corporate subscribers if they are relevant to their work.
Anti-spam law is enforced by the Information Commissioner and
breaches can lead to a fine of up to £500,000. There is also civil liability to anyone who suffers damage as a
result of the breach.
The rules are in the Privacy and Electronic Communications (EC
Directive) Regulations.
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Impact of clicking on the spam button
Some studies estimate that 30% of recipients click “this is spam” button to email marketing campaigns (Mail
Chimp, 2014)
What are the consequences?
The recipient’s internet service provider starts to watch your activity and if enough people hit the spam
button all your emails will be blocked.
Complaints can also be forwarded onto the ICO
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Data Protection Key Principles
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Persuasion: Getting
customers to buy INTO
your company and
products
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Re-thinking the sales funnel
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Persuading via Digital
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Using Social Media to Generate Fans
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Influencing non-digital business as well
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Personalisation:
Every customer is an
individual
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Generic communications less effective
CRM is not new, but has never been more important; as
communication between brands and customers is increasingly a
two way dialogue, CRM has become pivotal to retaining
customers. It has become a case of survival of the fittest. Brands
that do not know what their customers want and deliver
accordingly, demonstrating loyalty in the process, will be forgotten.
CRM is integral to ensuring attainment of these objectives.
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Personalisation helps you to…
• Convert,
• Cross-Sell
• Up-Sell
• Nurture
• Build relationships
• Supporters
• Activists
• Superfans
• Referrals
• Attract
• Capture
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Making you make better decisions
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Presence: Being
represented across all
channels from bricks
and mortar to social
media
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Bricks and Mortar Business Enough?
“our resilient brands will strengthentheir market positions and performance as they comprehensively satisfy the preferences of our customers”.
Chairman HMV, 2007
“We are not changing directionwe will continue to move full-steam ahead with our core business, which is Blockbuster stores“
CEO Blockbuster, 2001
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Need for omni-channels
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Click and Collect: An example from Tesco
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End of Seminar
Note: This recording is for your personal use only and not for further distribution or wider review.
© Pearson College 2013