Posts Tagged With: emerging markets

Emerging Markets + the Internet = ebocube model

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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.

Categories: B2b, Emerging Markets, Global Marketing, Lead Generation | Tags: , , | 1 Comment

Business growth from “Emerging Markets” and Internet Marketing

Emerging markets describe countries of the world with relatively recent industrial and technological change and now experiencing rapid economic growth.

Goldman Sachs popularized the acronym BRIC (Brazil, Russia, India, and China) to identify countries that many economists believe to be economically powerful in terms of current and future growth. These are the well-known, high potential emerging markets, but the term extends to countries in Africa, the Gulf, other countries in South America like Mexico and Europe too.

Each emerging market is unique, of course, and businesses need to approach them individually addressing their unique economic, market, business and consumer characteristics.

Large populations generally characterize emerging markets, as is obvious with China and India. They also tend to be dominated by young populations.

Whereas some of these markets remain politically and economically unstable, many other nations have through reform successfully stabilized their economies and normalized their trade practices.

Emerging markets  (130 countries and counting) comprise more than two-thirds of the global land mass. Most are rich in natural resources (in large part because their slow industrial and economic development has left their resources untapped) and host diverse industries, including manufacturing, oil and gas, agriculture and tourism.

Outsourcing from developed markets

As corporations re-engineered their operations through global outsourcing and new market development, they also imported into “client” emerging market countries advanced expertise in finance and business processes, for example banks have outsourced operations, companies have outsourced call centers and manufacturing.

Global intermediaries such as the International Monetary Fund (IMF) became more sophisticated in advising these nations on economic management.

Leapfrogging

Some emerging market nations have the potential to leapfrog developed markets because they are not slowed by legacy technologies. Japan (a “developed market”) became an advanced economy post World War II by leapfrogging technology developed by countries like the UK after the Industrial Revolution, amongst other factors. India has leapfrogged land- line telephony to become a mobile, wireless economy.

Emerging on emerging:

Many emerging markets are trading or partnering with other emerging markets, for example, China is penetrating markets and collaborating with specific industries in Africa.

Why they’re significant

These markets are even more significant now because of the economic slowdown in developed markets and general market saturation.

Even though developing markets are experiencing recessionary effects from the global financial crisis, many emerging market countries remain in a robust growth position. Growth will continue to come from emerging markets for the next 10 to 15 years at least, not only during this current recessionary period (in developed markets).

Economists have forecasted that China is soon to be the next superpower, by becoming the world’s largest economy, measured by gross domestic product (GDP).

With fast economic growth and transition, there’s a rise of middle classes in emerging markets, significant parts of the economy are rising up from poverty and are keen to purchase imported consumer products.

These consumers make good markets for companies struggling with declining sales in in developed markets.

The role of the Internet

The Internet has removed travel and time boundaries by allowing trade among markets in real time. The global reach of the Internet may be the most significant transformative development since the industrial age. As infrastructure and telephony bring Internet penetration to billions more of the world’s people over the next few years, the emerging markets phenomenon will be exponential. The Internet will become the major platform that allows the free flow of business activity, leveraged by applications and tools such as websites, video applications, social media, collaborative tools and mobile.

Companies in sluggish developed markets now have the potential to penetrate these markets with Internet marketing with lower risk and higher accuracy.

To find out more about B2b marketing in global markets, you can read Emerging Business Online, Global Markets and the Power of B2b Internet Marketing a New York FT Press Publication.

Hard copy: http://www.amazon.com/Emerging-Business-Online-Internet-Marketing/dp/0137064411

Kindle Version: http://www.amazon.com/Emerging-Business-Online-Marketing-ebook/dp/B0045U9W96/ref=tmm_kin_title_0/279-9376293-6540405

Categories: Emerging Markets, Global Marketing | Tags: , , , , | 1 Comment

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