Posts Tagged With: Global Marketing

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

#B2b #GlobalMarketing localised #BannerAds and #LandingPages

black keyboard

The popularity of web banners may be declining in the US and developed markets, however, in other “emerging” global markets they still work well to drive traffic to landing pages and to generate business leads.

The integrated campaign:

Web banners should always be part of your global marketing integrated campaign, i.e launched with integrated email shots, event collateral, print ads and social media content- the look and feel of all of these pieces should be consistent. They work well in new markets by reaching and engaging new audiences. They can be used to encourage users to click through to predefined websites or preferably optimised campaign landing pages.

Banner ads can also be used on your internal site to highlight key promotions. They can be used throughout the buying cycle. They should increase brand consideration by encouraging visitors to click through to campaign landing pages for further information and the opportunity for follow up.

You should always use an offer to entice a click through. The visitor should be able to find the offer easily on your landing page, think what’s in it for them- you offer them something and they give you their data for follow up.

Media placement

Before engaging an agency to buy media placements on the web, work with partners or your local sales teams to clearly define your campaign’s objectives  the user interest and overall proposition.

Engage a local marketing or PR agency to find out which sites are the best to use for advertising to reach your local target audience. Local media agencies will also be able to advise you on costs and where your competitors are advertising, plus the traffic for various sites.

Capture contact data for follow up

Data for some emerging/global markets is still rare to acquire and so ensure you capture visitors’ data. Data-capture forms should be embedded on your campaign landing pages. Keep the data entry fields on the form limited so that you don’t lose the user, it may be the first time for them to interact with your brand. The questions on the form should be in local language and you can capture data in local characters, however, your database should be set up to capture local characters in advance. Test before launching to ensure it works well and to ensure a good user experience.

The journey

Determine hat the user journey should be, make it simple, define what the follow up should look like and how much traffic you expect to click through. Make sure you have resources in place to follow up the data before placing the banner ad, the follow – up piece of marketing content should exist and users should receive it after submitting their data. Ensure trust on the thank you page with messaging and branding – again use the local business language.


Bounce rate

Even if you achieve a high click-through rate and a high amount of traffic to your site for the duration of the campaign, this doesn’t necessarily mean you’ve achieved your objectives. A high number of visitors can sometimes be perceived as a good thing and some agencies will have you believe you’ve “raised awareness”, but you need to understand the contact’s interest once he or she arrives on your landing page. If you have a high bounce rate (people exit your page immediately after arriving) coupled with high traffic, that’s negative. You want them to stay on your page and follow your call to action. Take users on a journey. Plot what that looks like on paper. Take them to a data-capture form; offer a download, whitepaper, competition, freebie to entice them. Emerging markets have large young populations and so cool gadgets can entice high click through rates, however, they can also drive poor quality responses and so it may work better, for B2b products, to use something like a whitepaper, how-to guide, for example, best practice again is to localise, copy should be in local language, the message should be easy for the target audience to understand and the proposition should be right for the market.

Add contact details on your page like a local phone number to increase trust or live chat software if you have the resources so that you can engage in conversation with visitors in real-time.

Landing pages should be optimised

The landing page should be relevant and targeted to the user in the local market. Ensure call to actions are clear, do not link to your main company website or use a scroll, you want people to stay on that page and to take action, ensure call to actions are above the fold and repeat them on the page.

Ensure call to actions buttons are attractive.

Experiment with using videos on your landing page. Test different landing pages in parallel using an A/B split, one of your banner ads should send traffic to the “original version” of the landing page and another banner ad should send users to an an alternate version. You can tweak the call to action on the alternative version, or the messaging and see how conversions compare to the original version. You should test one variation on the alternative page. Measure results and use the page with the highest conversions for the full duration of your campaign.

Local sites, local content

In some countries, website owners might not accept banners that are not localised or the banner might look strange if it is not in the local language. In any scenario, images should reflect the local culture. Make sure the creative and message is accepted by the local culture, localise your landing page and use colours or images that are culturally accepted. This will increase click through rates and conversions.

Social proof in new markets

Social media networks like Twitter, Facebook, GooglePlus ,Pinterest and LinkedIn are popular worldwide, you can check usage per country for some of these tools by referring to socialbakers.com. Add those social media share buttons to your landing pages so that visitors in new markets can share your content with their peers increasing exposure for your campaign and the likelihood of conversions.


The benefits of effective web banner strategy in new markets includes the following:

  • Can reach global markets
  • Gathering prospect data
  • Piggybacking established, tested popular sites in local markets with established targeted traffic
  • Allowing your business to be compelling to local markets
  • Building brand awareness
  • Improving future campaigns based on data collection
  • Can be creative

Targeting, message and last but not least…

As with any media, make sure that the timing is right. You don’t want to buy banner space during a local holiday, for instance, when traffic may tend to dip, or during a low sales period.

To find out more about B2b Digital marketing in global markets, you can read Emerging Business Online, Global Markets and the Power of B2b Internet Marketing an 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: Advertising, B2b, Uncategorized | Tags: , , , , | 1 Comment

Your simple Localisation checklist for #GlobalMarketing

So your company has decided to market globally?

In the Middle East some countries’ weekends start on Friday and end on Saturday; Sunday is the first day of the working week. In Saudi Arabia, the weekend is Thursday and Friday. In some North African countries, weekends are Saturday and Sunday, and in the remainder of East, West, and South Africa, the weekend is on Saturday and Sunday.

In the Central Eastern Europe and Latin America , Russia and Commonwealth of Independent States (CIS) regions, India, and China, weekends are the same as in Europe and America. This is an important consideration when executing campaigns because you might get a low response rate if you email someone on a weekend or organize an event on a week- end!

If respondents use mobile email devices, you do not want to send them an email in the middle of the night, because they may use their mobile devices as alarm clocks. If you wake them with the sound of a message, you might have an adverse impact on your brand. Working with different time zones and weekends can affect your workweek, so you might want to work with local agencies and partners, although campaign management tools enable you to “schedule” campaigns to go out automatically. Therefore, you can set up a campaign to go out on your weekend or while you are asleep.

Campaign Considerations

As you can see, there are a number of considerations when managing localized campaigns in global markets. There are general considerations you should make each time you launch a campaign, although of course you will learn each time.

Here’s a checklist for global marketing. You might keep this list in mind as your check list before considering, planning, or executing local campaigns and communications in global markets:

Drop date:

You must consider your drop date (e.g., the time and date an email arrives in a contact’s inbox or direct mail lands on their desks). Dates for Christmas or other festive seasons, local new years, or bank and national holidays need to be known because they differ in different regions and the target may or may not be at work on those days. For example, the Chinese New Year, a major holiday, differs from the western calendar New Year, as does the lunar Islamic calendar year, although the latter isn’t typically recognized with a long holiday.

Strap lines or taglines

Strap lines or taglines for your business or brand are difficult to translate and can lose or change meaning in local cultures if literally translated.

Creative

Images need to have a local look and feel. So that you don’t offend local cultures, avoid images of people if you lack local insight. This includes all images used online and offline.

Colour

Colour has different meaning in different cultures. Red, orange, and gold are positive in Saudi Arabia. Red is also a popular colour in China. In India, yellow and green are considered lucky. Make sure colours present well on desktop and mobile browsers/screens.

Symbols

Symbols, images, and icons can be reused in multiple campaigns. Start to build a “marketing library” in-house bank of images. This is cost-, resource-, and time-effective and helps to build consistency throughout messaging as recipients will begin to recognize consistently used images, but be careful not to overuse an image. You still want to use innovative imagery.

Exchange rate

Currency exchange rates can be expensive, and leads don’t want to research conversion rates. Therefore, don’t sell in dollars, pounds, or euros on a local website.

Offers

Incentives or offers are welcome but must be tested for responsiveness. For example, a free USB key in developed economies might not generate a high response rate in emerging or other global markets. Offers don’t need to be merchandise. They can be events, physical or virtual. Make sure the response isn’t just for “free stuff.” Your overall message is key.

The overall proposition

A proposition is the overall products/service/solution that a company markets to the contacts to meet a problem they have. You should tailor your proposition for the market need and take into account the unique needs of the companies in the industry.  Understanding local market needs should help you to create strong and relevant propositions. This is key to your overall campaign.

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: Global Marketing, Localisation | Tags: , , , | 1 Comment

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