A new model for marketing which fuses classic and digital marketing. M3 redefines marketing for the digital age. Presentation from the launch of M3 at The Festival of Marketing, London, Oct 2017.

1. M3, a new model for
marketing
Festival of Marketing
Ashley Friedlein, President, Centaur Marketing &
Founder, Econsultancy – 4 October 2017

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We need to
redefine
Marketing

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“The management process responsible
for identifying, anticipating and satisfying
customer requirements profitably.”
CIM (The Chartered Institute of Marketing)

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https://econsultancy.com/blog/62668-our-modern-marketing-manifesto-will-you-sign

5. Modern Marketing Model (M3)
• Why do we need it?
• A brief recap of marketing model evolution
• M3 – the model and key points
• So what?
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Why do we need a new model
for marketing?

7. CMOs have the highest turnover in the C-suite
“80% of CEOs do
not trust, or are
unimpressed with,
their CMOs.”
Fournaise
Marketing Group

8. Marketing academia isn’t teaching students
what employers want
https://medium.com/@dpalm/studying-marketing-at-university-was-a-frustrating-
waste-of-time-b7bf0ef39d7

9. Digital marketing is dead. Is it? Definitely. Or
maybe not. Mmm. Let’s debate it some more?

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The problem?
Marketing is in the grips of an existential crisis.
We have no post-digital reference for what
marketing has become.
If we can agree on one, even if it is not
perfect, we can move forwards with clarity,
speed and confidence.

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A brief recap of the evolution of
marketing models to date

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M3 – the model and key points
(boring but important)

19. Fusing digital and classic marketing under
one framework
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Classic marketing disciplines
 Advertising
 Brand management
 CRM & Loyalty
 Database marketing
 Distribution
 Events and experiential marketing
 Market research
 Marketing strategy
 Packaging and labelling
 Partner marketing
 Pricing
 Product/service development
 Promotions
 Public relations
 Retail & shopper marketing
 Sponsorship
 STP (Segmentation, Targeting & Positioning)
 Telemarketing
Digital marketing disciplines
 Affiliate/performance-based marketing
 Content marketing - includes copywriting, video
 Conversion rate optimisation (CRO)
 Customer/user experience
 Digital analytics and measurement
 Digital data marketing – schemas, feeds, APIs, metadata, machine-
to-machine data
 Digital display advertising - includes retargeting, programmatic
 Email and eCRM - includes marketing automation, personalisation
 Mobile marketing
 Online PR – includes online influencer marketing, reputation
management
 Paid search marketing (PPC)
 Search engine optimisation (SEO)
 Social media marketing - includes community building,
collaboration/co-creation, social CRM, social customer care, social
monitoring/listening

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M3 Element Most commonly relevant classic/digital disciplines mapped to M3

21. What hasn’t changed (in terminology)?
• Marketing Strategy
• Market Orientation
• Customer Insight (was ‘Market Research’)
• Brand
• Segmentation, Targeting, Positioning
• Promotion
• Change from ‘Place’ to ‘Distribution’ is slight.
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22. What has changed? Price
• ‘Price’ removed as a core element.
• In our experience Price is rarely under the direct remit of
the marketing function, except perhaps in FMCG
businesses.
• Price is also still covered under other areas like “Brand &
Value” and “Marketing Strategy”.
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23. What has changed? CX & Content
• “Product” changed to “Customer Experience & Content”.
• Our new description still covers classic product, or service,
development and innovation but ‘Customer Experience’ is
deliberately broader than just ‘product’ and covers services
as well as the customer journey and experience around
the product itself.
• ‘Content’ recognises the importance of content marketing
to support the customer journey.
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24. What has changed? Data & Measurement
• “Data & Measurement” is the only completely new element
added.
• Marketing also now has more dedicated roles and capabilities
around data, analytics, measurement and optimisation and
these need to be a distinct domain of marketing competence.
• We believe data is now a marketing asset in itself (e.g. rich
metadata) so needs to be considered part of the marketing mix.
• We now market to machines (including search engines) with
data as well as to people.
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25. Metadata to enhance search results
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26. Metadata to enhance app discoverability
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27. Say it better with metadata…
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What are the implications of M3?

29. Three outcomes for M3
1. Academic and digital/marketing training organisations
assess their curricula and course offerings with reference
to M3 and update their content accordingly.
2. Talent and HR professionals review the recruitment,
training and development needs of their organisations for
digital/marketing resources with reference to M3.
3. Organisations discuss M3 internally to clarify their
expectations of what the marketing function does, how it is
structured, and how it works with the rest of the business
as well as with external suppliers. 29

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M3 in full
Read/download at
http://m3.econsultancy.com

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34. Thank you