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Before operating tasks, Marketing frameworks are adopted to overview the big pictures. Many of them are developed by marketing professionals and they are still applicable in 2021.
1. RACE Models Developed by Dave Chaffey
RACE model conceptualizes the communication with every customer stages as follows;
- R – Reach Stage: Primarily the mixed media are adopted to access and create demand in both mass and niche markets. However, only a few media are applied based on the product and service category.
- A – Act Stage: The customers at this stage has interaction including the product information request, contact form completion and instant messaging are required. Therefore, the media have to be placed in such a way that the prospects are willing to give away their personal information to apply for the membership.
- C – Convert Stage: To convert the new customers or retarget the past ones, media have to be placed based on the business category. For example, facts and insight should be provided to convince B2B customers and boost their confidence. Promotion, review and testimonial should be provided if the business sells the consumer good.
- E – Engage: To retain the existing customer, build brand loyalty, and increase the repurchasing rate and upsell, marketing automation and loyalty program are suitable for this stage.
2.Ansoff Matrix Product vs New Market Frameworks
Developed by Harry Igor Ansoff in 1957, the Ansoff matrix composes of two columns and two rows.
1. The horizontal axis is to check whether the considered products are existing or new ones.
2. The vertical axis is to check whether the considered markets are the existing or the new ones. Thus, the four quadrants are developed as well as the following strategies 😎
Diversification: This strategy belongs to the new products in the new market. The low-cost airline digitally promoted travel-related businesses, and spin-off airline businesses like Virgin Group are great examples
Product Development: For the new products in the existing market, this strategy is applied. For example, there are the digital products, new delivery and usage models such as Grab entering the motorbike public transportation and Agoda with the digital competition capabilities entering the hotel booking agencies market. There is also the transformation in revenue model (subscription, peruse, bundling) like Adobe creative software to Adobe Creative Cloud having the recurring revenue from the subscription model.
Market Penetration: Digital operations like digital marketing are applied to the existing products in the existing market to increase the competitive capabilities. The platforms for customers to access the after-sales service and privileges could also help improve customer loyalty. The1 card and Homepro are clear examples. Digital channels to motivate repurchasing and increase the customer lifetime value are also available including Lazada and Shopee. Not only do they have the backend platform but also the high quality of customer data to communicate with the existing customer more effectively than the traditional retail.
Market Development: Digital Technology is utilized to access the new segment at a low cost. Netflix leverages the improved internet speed, which people could access without limit, to provide the video streaming from the DVD assets it has. Hilti, which once provided construction products, turns to rent them out and, provide the online fleet management service. Globalizing the existing product and service to add value in other countries could be applied also.
3. PR Smith’s SOSTAC® Planning Framework
- S – Situational Analysis: Analyze the current situation
- O – Objective: Set the clear objective
- S – Strategy: Targeting the customer, creating the value proposition
- T – Tactics: Tactics for advertising and direct marketing
- A – Actions: Operation planning, human resource evaluation
- C – Control: KPI, monthly and quarterly analysis and usability testing
View more PR Smith’s SOSTAC® Planning Framework
4. PDCR Digital Marketing framework
The framework applies the structure of marketing funnels. According to the table, each column has the detail of touchpoints.
- Presence is between Stranger and Visitors which means channels are allowing the brand to access the users and visitors the brand is still not familiar to. Presence is between Stranger and Visitors.
- Drive includes the channels converting visitors to leads or motivating them to give away their contact information. These channels are for communicating and passing the content to attract leads.
- Convert includes channels for purchase conversion. Most of them are the sales pipeline for CRM or marketing automation for converting or closing sales.
- Retain includes channels to interact with the existing customers. Most are CRM (specifically loyalty and advocacy) to maintain satisfaction and create confidence in the brand for repurchasing.
5. Anicca’s A10 Digital Marketing Framework
Unlike PDCR, Anicca’s A10 doesn’t follow funnels but looks like the checklist for formulating the marketing strategies.
- A1 – Analysis: Figure out the benchmark and baseline for the marketing activities such as traffic, engagement quality, conversions and scores of after-sales service.
- A2 – Aims: Determine the marketing objectives, quantify the goals which could be broken down by digital presence and channels, and break down the goals based on the customer funnel.
- A3 – Audience: Data can be collected from the ads platform and marketing analytics to see the characteristics, interests and demographics of the user groups from each channel, and create segmentation and micro-segmentation based on the product category.
- A4 – Assets: All digital assets are collected and defined including branding assets (documents, procedure and brand guidelines), owned channel assets (website and mobile application), social media platforms, content, promotional material, ads, remark for learning, and MarTech tools.
- A5 – Awareness: Tactics are placed in each channel according to the plan with concise measurement. The number of increased reaches in social media and the increased in the organic views and impressions in search marketing channels are the example.
- A6: Acquisition: The paid media (SEM, Display and Social Ads) are consistently optimized. The owned media are effectively managed and controlled with search engine optimization (SEO), content marketing, social media and email marketing. For earned media, public relations, influencers, outreach marketing, and community management are executed to support customer engagement. IoT, Voice Search and chatbots are also the technical channels needed to be planned.
- A7 – Actions: Any interactions and actions should be in detail. Actions and conversions in the digital channels could also be categorized as micro-conversions (sales and leads) and micro-conversion (Signup E-newsletter). For Goals in the marketing analytics (Google Analytics for example), they can be counted. For example, the goal is counted whenever Thank You page is successfully loaded after the user completed the form. Each step of the funnel in the customer report could show the drop-off, and Event is the action detected at the webpage level such as the clicks on any buttons or play video.
- A8 – Attention (and retention): Aftersales service or the activities for repurchasing.
- A9 – Advocacy: The existing customers are taken care of for brand loyalty to generate reviews or positive mentions, and product recommendations.
- A10 – Assessment: All important marketing activities are examined with analytics tools including website, app, and ad platform by focusing on conversion, attribution and assist conversion. Data integration across platforms, reporting and data visualization are implemented as well.
6. HBR marketing strategy formation
Harvard Business School divided the marketing strategy into analysis, decision and outcome.
- Analysis: Customer analysis, competitor analysis, company analysis with SWOT framework, analysis on the business partner collaboration; and context analysis.
- Decision: The decision on the product value, which reflects the consumer identity, is made for clear segmentation, targeting, and positioning. Also, marketing mix is determined by focusing on price, place (product distribution channel), promotion (communication strategy) and product.
- Outcomes: Measure the results by reflecting the acquisition, retention, and buying rate (aspiration); and by reflecting sales, profits and the increase in the number of branches (action plan).
7. Econsultancy’s 10Cs of Modern Marketing
Econsultancy defines 10 Cs as the mindset of modern marketing mindset. Also, they are surrounded by three outer circles as the key elements for marketing which are Self, Team and Company.
- Customer-centric (Self): Marketers must act as the diplomat to think like the customers
- Commercially focused (Self): Marketers find the balance between representing the customer and generating revenue for the company.
- Capable (Self): To find such balance, marketers rely on their knowledge and abilities to improve themselves.
- Committed (Team): To execute 3C’s in Self, marketers have to set the contract with the team on what the team is going to achieve
- Confident (Team): Marketers have to be confident and pay attention to self-development
- Curious (Team): Marketers have to seek knowledge and be open to any questions from working
- Creative (Company): The company must apply creativity to solve the problem and improve solutions along the way of working for developing products and services that respond to customers’ behaviour.
- Challenging (Company): Marketers and also companies have to challenge themselves to modify the working process and structure.
- Collaborative (Company): Having creativity and challenges motivate employees to be capable of collaborating with the cross-functional team.
- Connected (Company): All teams’ goals are shared from the personal values to the business ones
8. SMART marketing objectives
Frameworks are required for the marketing funnels and every digital channel. They are objective-oriented and they are composed of the following elements;
- Specific: Sufficient data to clarify problem and market opportunities
- Measurable: How to measure the results and distinguish between qualitative and quantitative measurement (metrics)
- Actionable: The collected data could be utilized to improve the effectiveness of the marketing activities
- Relevant: The collected data have to be related to the current problems
- Time-bound: The certain time for the collected data to be applicable has to be determined.
To conclude, SMART marketing objectives is the operational frameworks for operation and data collection more than roadmap layout and overview.