Digital marketing business models
“What is it, what does it do and what are best practices?”, I wondered when I heard that I was the designated jury member to chair the digital marketing session during the NIMA awards. I am familiar with marketing, but what exactly is this digital marketing? Just as in the days of Web 3.0 there is no definition in the Dutch version of Wikipedia. However, this time the American version does have one. By the way, there are over 35 new marketing definitions as well. Marketing is reinventing itself in this digital era. Time for an analysis! Time for 10 trends, 10 new models and 10 must-read books.
Luckily I could fall back on the knowledge and experience of the NIMA Awards finalists @ilonadebok and @bentevanderark of bol.com, @susanneferguson of Albert Heijn, @stekel of the NOS and John Post, CTO of IBM as keynote speaker. Susanne Ferguson – the winner of the NIMA award in the category digital marketing – provided me with good general definition of marketing, that should simply also apply to digital marketing: ‘Marketing is attracting or holding on to customers by offering them something of value for which they want to pay’ (Susanne Ferguson). The focus of this definition is on the activity of attracting or holding on to and the way this is done, i.e. the offering of a product, service or value.
In my opinion this definition makes sense, but something is still missing. The Dutch version of Wikipedia did not give solace, it does not contain a definition of digital marketing. The international Wikipedia.org only emphasized the promotion via digital channels. Furthermore, Wikipedia.org even offered 35 different marketing types, of which many could be typified as digital. Reviewing all this, I therefore suggest the following definition: “Digital marketing is the targeted or target-searching attracting, fascinating and influencing of customers and stakeholders by offering them value. The customers or stakeholders pay in trust, commitment, action or money.”