Over the last 10 years, there has been a profound change in the way companies engage and communicate with target audience groups. Commonly known, standard tools that have been effectively used over the last 20 years are becoming obsolete, and the implemented strategies do not match the opportunities and market expectations. The dynamics of changes that we observe in the field of information technology lead to newer and newer approaches to marketing, especially its digital variety.
While the traditional marketing theories are focused on online and offline areas, 4P’s or even the 4E’s – we like to think ahead of our current marketing environment. Neo-Marketing is our so-called new combined marketing discipline that represents new technologies and a deeper customer understanding, including their expectations and experience in relation to the brand.
What happened with the 4P’s?
For many decades our marketing environment has followed Kotler’s 4P marketing positioning. Effective and by many years successfully proven. Since the social and customer environment drastically evolved in a full digital relied environment, marketing evolved along. Today, traditional 4P-based marketing strategies already evolved twice in it’s new form.
The 4P focuses on a salesperson-oriented marketing strategy. However, 4C offers a more consumer-driven perspective of your marketing strategy. Starting from the 4C’s customer perspective, the latest evolution within this particular strategy, focused itself towards a higher experience-based customer interaction. We’ve reached the most recent version of Kotler’s strategy: 4E marketing.
Why is there NeO marketing, when we already have the 4E strategy?
With all of the many choices that the customer has on the market and the many communication channels available, it is necessary to define and identify the customer’s decision-making process. This process should not only be specified for specific target groups but as well all recipients of specific services or products.
For this process to become effective, we need to evolve the way we perceive the role and place of marketing in business. We believe the time has come for the marketing discipline to take over as thoughtful leadership, making the consumer’s brand experience a key part of your business and corporate growth strategy.
As companies increasingly add value to their products and offerings, by creating end-to-end customer experiences, it is already known that the important marketing indicator shifts from “share of wallet” to “sharing of experience”. This experience-minded approach still won’t be enough and forms only one side of our combined thinking.
To meet the digital challenges ahead, marketing must efficiently navigate in areas of knowledge such as: marketing automation, CRM, data analytics, social media, data management platforms, search optimization, e-commerce, websites, landing pages, mobile landing pages, workflow as part of content marketing, gamification – this list can certainly be even longer.
Neo-marketing focuses on the ultimate comprehended combination of customer experience and digital technologies. It represents a form of management of that earlier explained customer decision-making process. It’s emphasizing your digital channels when necessary, yet gives the experience a higher role when needed. We believe NeO marketing forms an approach that empowers the marketing functions’ strengths in an organization. This new approach makes it possible to give marketing an empowered responsibility for cooperation, if not joint ownership in managing customer service, product, internal communication, and technology integration.
The scale and variety of this marketing landscape will increase in the foreseeable future. Certainly, the scale and variety of marketing itself will explode. The world’s environment is changing fast and marketing is changing with it. All around us, customer experience opportunities and expectations are flourishing – a breakthrough moment that is now enabling the heart of our marketing efforts.