You can read my introduction to the model, but in brief it’s a unifying framework that brings together traditional marketing elements with new competencies and capabilities from data and analytics, customer experience, content, multichannel, and personalisation.
In some cases, these new digital-focused competencies are simply subsumed into traditional definitions that remain valid whatever tactics they encompass – search keyword research or social media analysis, for example, fall nicely under ‘Customer Insight’. Elsewhere, it’s vice versa, with ‘product’, one of the venerable 4Ps, subsumed into the more modern element of ‘customer experience’, and ‘place’ morphed into ‘distribution’ to accommodate non-physical forms of place. And there is one element that represents a newer and emerging set of modern marketing competencies – ‘data and analytics’.
Though M3 serves to highlight new and often complex requirements for marketing competencies and capabilities, it is still just a model. That’s why I’m teaching a new online training course, Fast Track to Modern Marketing, launched by Econsultancy to explore M3 competencies in greater detail.
The course is delivered online through 10 interactive modules. Participants get 60-day online access to the modules, accredited as 14 CPD hours of study.
The 10 modules break down as follows:
Marketing Strategy
- What is marketing strategy in the context of your overall organisation strategy?
- How is strategy quantified?
- Tools for aligning internal and external partners
- What is an agile strategy?
- Future-proofing strategy
Market / Customer Orientation
- What is it? How does it differ across markets?
- How do you decide what level of personalisation is right?
- Ways to engage all of the organisation
Customer Insight
- The key methods of data gathering from both market research and digital data analytics
- The importance of doing it backwards (!)
- The value of, and danger of, social listening
- Understanding potential and existing customers
- Key questions to ask
Brand & Value
- Distinctiveness and differentiation (touching on purpose driven branding)
- Brand equity and brand salience
- Brand tracking and measurement (with digital tools)
- Value and pricing
- Articulating the brand within the organisation
- Ways to build the brand (and therefore the business)
Segmentation & Targeting
- Mapping segments to build a targeted approach
- ‘Size of the prize’ methodologies
- Developing target segment portraits
- Influencer and stakeholder segments
- Contextual targeting with digital
Positioning
- Data-based digital proposition delivery
- Using brand architecture
- How UX and experience impacts on brand
- Articulating brand positioning
Customer Experience
- What is CX? How does it fuse traditional and digital?
- How even CPG can be thought of as a service.
- How marketing can improve CX.
- The importance of customer personas, customer journey and moments of truth
- Measuring customer satisfaction
- Adopting a hierarchy of customer needs
Distribution
- How models of distribution have changed
- How digital has broken down the barriers to entry
- The key types of digital distribution
- The importance of brand management
- The key questions that you should always ask
Integrated Marketing Communications
- What integrated marketing communications means
- How we successfully fuse together classic and digital
- How content is at the heart of IMC
- The importance of frameworks to align paid, owned, earned and shared activity
- The rise of channels/platforms and touchpoints
- Data and insight to improve and optimise IMC
Data & Measurement
- Why marketing has to become much more ‘data literate’
- Beyond measurement data
- Data compliance and an ethical approach to customer data
- Marketing measurement and optimisation
- Approaches to help us analyse measurement data successfully
So, if you’re interested in getting a deeper understanding of what modern marketing is and how it should be approached, sign up for our Fast Track to Modern Marketing online course.
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