target audience: TECH SUPPLIER Publication date: Jun 2024 - Document type: Market Perspective - Doc Document number: # US50878924
Expanding Marketing Promotions Across the "4-O Matrix"
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Abstract
This IDC Market Perspective discusses the necessity for marketers, especially in the B2B and SMB sectors, to evolve beyond traditional email-centric strategies by adopting the 4-O marketing matrix. While the traditional 4 Ps of marketing have long served as a foundation, they are no longer adequate for addressing the dynamic promotional needs of modern organizations, particularly in the B2B and SMB sectors. Despite the availability of 14,000 martech tools, the prevalent reliance on email marketing has resulted in a narrow, ineffective approach that overlooks customer experience and individual preferences. A similar fixation on easily trackable metrics, such as MQLs, has eclipsed the importance of understanding the broader customer journey, resulting in a lack of diversity in outreach efforts.
To address the industry's shortcomings, this document introduces the 4-O marketing matrix, which advocates for a more diversified promotional strategy extending beyond email or even omni-channel outreach to address a broad array of marketing channels. The model spans online and offline environments, as well as onsite and offsite programs, with the aim of fostering more meaningful client engagement and increasing conversion rates across the real customer journey.
Despite its intentionally simplified visual representation, the model conceals underlying complexity and potential for refining marketing efforts, highlighting the imperative for marketers to move beyond traditional tactics and adopt a more customer-centric approach. The 4-O matrix is proposed as a solution to broaden the scope of marketing strategies, urging marketers to balance activities across its four elements to facilitate comprehensive market engagement.
"Next-generation marketers need to transcend traditional tactics and tools by exploring the 4-O marketing matrix. By balancing online, offline, onsite, and offsite engagement opportunities, organizations can unlock the infinite possibilities and create more meaningful, customer-centric journeys." — Roger Beharry Lall, research director, Advertising Technologies and SMB Marketing Applications at IDC