"How to Choose the Right Digital Marketing Model"

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In a recent survey of more than 300 CMOs that Strategy& conducted with the Association of National Advertisers and Korn/Ferry, 72 percent said that building capabilities in the area of digital marketing is vital.

The difficulty is that there's no one set of capabilities that applies universally. Companies must identify what kind of marketing organization they need to make their strategy a success, choose a digital marketing model based on their strategic objectives, and then focus on developing a handful of marketing capabilities that will allow them to bring that model to life and consistently excel.

In "How to Choose the Right Digital Marketing Model," in the Summer 2014 Strategy&Business, Matt Egol, Michael Peterson and Stefan Stroh explain how to do just that. Egol and Stroh are partners with Strategy&, while Peterson was formerly a partner with Booz & Company.

Strategy& has identified four successful digital marketing models:

  1. Digital Branders.
  2. Customer Experience Designers.
  3. Demand Generators.
  4. Product Innovators.

Let's take a look at each model.

  • Digital Branders are most often consumer products companies or other marketers that focus on building and renewing brand equity and deeper consumer engagement. These companies are shifting their investment from traditional linear advertising toward more immersive digital multimedia experiences that can connect consumers to the brand in new ways.
  • Customer Experience Designers use customer data and insights to create a superior end-to-end brand experience for their customers. Typically, these companies — such as financial-services firms, airlines, hotels, and retailers — build their business models around customer service. By reinventing how they interact with customers, and wowing them at multiple touch points, these companies hope to create an ongoing dialogue and build a loyal customer base.
  • Demand Generators, which are typically retailers, focus on driving online traffic and converting as many sales as possible across channels to maximize marketing efficiency and grow their share of wallet. All elements of the digital marketing strategy — Web site design, search engine optimization, mobile connected apps, and engagement in social...

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