OPENS-Model at the 4th European Academic Social Media Conference
2017 we presented our model for approaching omnichannel marketing in the retail segment at the 4th European Social Media Conference, in Vilnius. It was an inspiring experience, seeing how academia and practitioners from all over the world came together to discuss and present research on the topic of Social Media. We recieved great feedback on our model, as also new insights that will impact our further research and every day business as omnichannel pioneers.
Now that we have successfully published our model, we would like to share it with you and look forward to possible discussions and feedback. Below you can find a brief abstract to give you an overview of our approach as also our E-Mail, if you would like the complete article and presentation.
It’s More than Paid, Owned and Earned. Towards an Extended Marketing Model: ‘OPENS’
Raphael Remhof1, Thomas Candussi1, Thomas Grisold2
While marketing activities should create, exchange, deliver and communicate offerings that have value for the client, various emerging media channels make it increasingly difficult for marketers to effectively direct their marketing activities. A popular model, brought forth in 2009 through a study of the Forrester Research Group, differentiates between owned, paid and earned media. Building on this model, we take a practitioner’s point of view and argue that this model does not consider developments, that have been taking place over the past years in social media and other online and offline opportunities. We propose ‘OPENS’, an advancement of the existing model but adding 2 extensions for marketers in the retail segment. First, we add social networks because companies can use several platforms to communicate with their customers and potential clients in an informal and personal way (e.g. Facebook, YouTube, Instagram). Arguably, this can create value for the company. Second, by adding new marketplaces, we emphasize that companies can use existing infrastructures of other companies to promote and sell their goods. Here, value is being created with the company’s presence in online marketplaces (e.g. Amazon). We further present that the ‘OPENS’ model implies an alignment of channels leading to ‘omnichannel marketing’. By emphasizing a practitioner’s point of view, and considering contemporary findings in literature, this model could inform both research and practice.
If you would like to read the whole paper, please send us an E-Mail at [email protected] and we will send you the full article and presentation.
We would be excited to hear your opinion, so please do let us know what you think!