Emerging Markets + the Internet = ebocube model
Emerging markets refer to countries experiencing relatively recent industrial, political and technological change resulting in rapid economic growth. Emerging markets cover more than the BRICs, 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 revenues plateau in saturated, developed markets, expansion into emerging markets is a popular means for reaching new growth targets. They were hit by the global recession, however; many remain in a robust growth position, but the endeavor involves uncertainty and risk.
Bringing the Next Billion People Online
Developed countries have long defined the Internet, however, at least 500 million new users of the Internet are expected to come from emerging markets from 2012 to 2015, according to Google. And the cyber-landscape is set to drastically change.
The Internet and social media were instrumental in facilitating the Arab Spring and have brought a new wave of Internet businesses and active users to the region.
China’s current online retail market size is second only to the United States and is predicted to explode over the next five years. (A.T. Kearney Retail e-Commerce Index of Emerging Markets)
Global Digital Era Transforming the marketing agenda
Senior executives in developed economies, working in organizations, small and large, are asking the following questions:
- How can we get ahead of competitors in emerging markets?
- 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?
ebocube B2b digital marketing model
Foreseeing this need, international B2b Digital Marketing Manager Lara Fawzy developed the first tested end-to-end b2b Internet marketing model laid out in her book, Emerging Business Online: Global Markets and the Power of B2B Internet Marketing (FT Press, ISBN 13: 9780137064410, 291).
This robust framework is based on tested processes and results from Cisco, and other multinational experience.
It’s designed to provide B2b electronic customer relationship management (CRM) for global professionals.
It shows marketers how to plan, execute, track, measure and learn from global digital marketing. It demonstrates key marketing metrics in relation to the sales cycle; for the purpose of B2b lead generation, and how to measure them.
The model is called ‘ebocube’, which stands for emerging business online, with cube referring to the visual framework of the three-phase model.
The structure is low-cost, and has helped organisations to make significant cost savings and high return on marketing investment (ROMI); it’s a sustainable business-to-business global model, underpinned by the Internet.
ebocube model can be implemented with the following three phases:
Phase One: The Dashboard and the Datacube.
This phase focuses on reporting on marketing, sales, and company or contact data for the businesses being targeted in emerging markets. It measures what’s working (or not working) and which market is generating the highest return on marketing investment (ROMI). The datacube also represents the quality of contact data to leverage an eCRM strategy. These reports mean business decisions are not based on instinct or assumption, but on numbers and business intelligence.
Phase Two: Campaign and Data planning.
Using the ebocube commercial cycle (contact buying cycle/decision-making process and data life cycle), phase two discusses the proposition, messaging, the incentive, localization, budgeting, and integrating the media mix (online and offline) to achieve ebocube commercial cycle goals.
Phase Three: Marketing Operations or mops.
Phase three covers budgeting, planning, executing, tracking, and measuring campaigns to feed the dashboard with meaningful metrics. It also demonstrates how to feed your company database, with contact and company data, which can be represented in the datacube. Phase three closes the loop on marketing, data, and sales in global markets.
ebocube model demystifies sales and marketing practices as relationships crisscross digital, business, and national borders.
Emerging Business Online, Global Markets and the Power of B2b Internet Marketing is concluded with this powerful quote:
“The previous generation of marketers used to say: “Half of the money I spend on advertising is wasted; the trouble is I don’t know which half ” (according to John Wanamaker). Today, in this innovative, global-information century and with ebocube business model, that excuse is obsolete. Because of marketing operations and the ebocube dashboard, it’s clear which part of our budget is being wasted. “
The time is now.