Framework for Marketing Automation: Case Vaisala

Työ käsittelee Markkinoinnin Automaatiota, viitekehyksen rakentamista Markkinoinnin Automaation käyttöönottoon ja sen hyödyntämiselle markkinoinnin ja myynnin putken hallinnassa. Työ on suoritettu tapaustutkimuksena, jonka primääri datana on käytetty puoli-strukturoituja haastatteluja ja sekundääri datana on käytetty dataa myynnin tietojärjestelmistä. Kirjallisuuskatsaus markkinoinnin automaatioon paljastaa, että aihetta ei ole juurikaan tutkittu akateemisesti. Etenkin selkeitä aukkoja teorioissa on miten markkinoinnin automaatiota kannattaisi aloittaa ja miten siihen tarvittavia kamppanjoita kannattaisi rakentaa. Tapaustutkimuksen tuloksena selvisi selkeät ongelma kohdat nykysessä markkinoinnin ja myynnin putkessa, ja myös kohdat joissa markkinoinnin automaatio voi olla avuksi. Suurin osa ongelma kohdista on markkinoinnin ja myynnin välissä. Toimiakseen markkinoinnin automaatio vaatii selkeät määritykset yrityksessä Liidille ja miten sitä käsitellään. Toimivuuden takaamiseksi se tarvitsee myös jatkuvaa palautetta liideistä ja myynneistä. Alue mikä myös tarvitsee muutosta paremman toimivuuden takaamiseksi on markkinoinnin kamppanjoiden suunnittelu, yhdessä myynnin kanssa ja asiakkaan polku edellä. Tulevaisuuden tavoitteena tulisi olla viestien personointi ja asiakkaiden profilointi. Tulevaisuuden tutkimuskohteet olisivat erittäin avuliaita yrityksille, varsinki jos ne käsittelisivät käyttöönottoa tai personointia.

Public-private partnership investments in dry ports – Russian logistics markets and risks

The investments have always been considered as an essential backbone and so-called ‘locomotive’ for the competitive economies. However, in various countries, the state has been put under tight budget constraints for the investments in capital intensive projects. In response to this situation, the cooperation between public and private sector has grown based on public-private mechanism. The promotion of favorable arrangement for collaboration between public and private sectors for the provision of policies, services, and infrastructure in Russia can help to address the problems of dry ports development that neither municipalities nor the private sector can solve alone. Especially, the stimulation of public-private collaboration is significant under the exposure to externalities that affect the magnitude of the risks during all phases of project realization. In these circumstances, the risk in the projects also is becoming increasingly a part of joint research and risk management practice, which is viewed as a key approach, aiming to take active actions on existing global and specific factors of uncertainties. Meanwhile, a relatively little progress has been made on the inclusion of the resilience aspects into the planning process of a dry ports construction that would instruct the capacity planner, on how to mitigate the occurrence of disruptions that may lead to million dollars of losses due to the deviation of the future cash flows from the expected financial flows on the project. The current experience shows that the existing methodological base is developed fragmentary within separate steps of supply chain risk management (SCRM) processes: risk identification, risk evaluation, risk mitigation, risk monitoring and control phases. The lack of the systematic approach hinders the solution of the problem of risk management processes of dry port implementation. Therefore, management of various risks during the investments phases of dry port projects still presents a considerable challenge from the practical and theoretical points of view. In this regard, the given research became a logical continuation of fundamental research, existing in the financial models and theories (e.g., capital asset pricing model and real option theory), as well as provided a complementation for the portfolio theory. The goal of the current study is in the design of methods and models for the facilitation of dry port implementation through the mechanism of public-private partnership on the national market that implies the necessity to mitigate, first and foremost, the shortage of the investments and consequences of risks. The problem of the research was formulated on the ground of the identified contradictions. They rose as a continuation of the trade-off between the opportunities that the investors can gain from the development of terminal business in Russia (i.e. dry port implementation) and risks. As a rule, the higher the investment risk, the greater should be their expected return. However, investors have a different tolerance for the risks. That is why it would be advisable to find an optimum investment. In the given study, the optimum relates to the search for the efficient portfolio, which can provide satisfaction to the investor, depending on its degree of risk aversion. There are many theories and methods in finance, concerning investment choices. Nevertheless, the appropriateness and effectiveness of particular methods should be considered with the allowance of the specifics of the investment projects. For example, the investments in dry ports imply not only the lump sum of financial inflows, but also the long-term payback periods. As a result, capital intensity and longevity of their construction determine the necessity from investors to ensure the return on investment (profitability), along with the rapid return on investment (liquidity), without precluding the fact that the stochastic nature of the project environment is hardly described by the formula-based approach. The current theoretical base for the economic appraisals of the dry port projects more often perceives net present value (NPV) as a technique superior to other decision-making criteria. For example, the portfolio theory, which considers different risk preference of an investor and structures of utility, defines net present value as a better criterion of project appraisal than discounted payback period (DPP). Meanwhile, in business practice, the DPP is more popular. Knowing that the NPV is based on the assumptions of certainty of project life, it cannot be an accurate appraisal approach alone to determine whether or not the project should be accepted for the approval in the environment that is not without of uncertainties. In order to reflect the period or the project’s useful life that is exposed to risks due to changes in political, operational, and financial factors, the second capital budgeting criterion – discounted payback period is profoundly important, particularly for the Russian environment. Those statements represent contradictions that exist in the theory and practice of the applied science. Therefore, it would be desirable to relax the assumptions of portfolio theory and regard DPP as not fewer relevant appraisal approach for the assessment of the investment and risk measure. At the same time, the rationality of the use of both project performance criteria depends on the methods and models, with the help of which these appraisal approaches are calculated in feasibility studies. The deterministic methods cannot ensure the required precision of the results, while the stochastic models guarantee the sufficient level of the accuracy and reliability of the obtained results, providing that the risks are properly identified, evaluated, and mitigated. Otherwise, the project performance indicators may not be confirmed during the phase of project realization. For instance, the economic and political instability can result in the undoing of hard-earned gains, leading to the need for the attraction of the additional finances for the project. The sources of the alternative investments, as well as supportive mitigation strategies, can be studied during the initial phases of project development. During this period, the effectiveness of the investments undertakings can also be improved by the inclusion of the various investors, e.g. Russian Railways’ enterprises and other private companies in the dry port projects. However, the evaluation of the effectiveness of the participation of different investors in the project lack the methods and models that would permit doing the particular feasibility study, foreseeing the quantitative characteristics of risks and their mitigation strategies, which can meet the tolerance of the investors to the risks. For this reason, the research proposes a combination of Monte Carlo method, discounted cash flow technique, the theory of real options, and portfolio theory via a system dynamics simulation approach. The use of this methodology allows for comprehensive risk management process of dry port development to cover all aspects of risk identification, risk evaluation, risk mitigation, risk monitoring, and control phases. A designed system dynamics model can be recommended for the decision-makers on the dry port projects that are financed via a public-private partnership. It permits investors to make a decision appraisal based on random variables of net present value and discounted payback period, depending on different risks factors, e.g. revenue risks, land acquisition risks, traffic volume risks, construction hazards, and political risks. In this case, the statistical mean is used for the explication of the expected value of the DPP and NPV; the standard deviation is proposed as a characteristic of risks, while the elasticity coefficient is applied for rating of risks. Additionally, the risk of failure of project investments and guaranteed recoupment of capital investment can be considered with the help of the model. On the whole, the application of these modern methods of simulation creates preconditions for the controlling of the process of dry port development, i.e. making managerial changes and identifying the most stable parameters that contribute to the optimal alternative scenarios of the project realization in the uncertain environment. System dynamics model allows analyzing the interactions in the most complex mechanism of risk management process of the dry ports development and making proposals for the improvement of the effectiveness of the investments via an estimation of different risk management strategies. For the comparison and ranking of these alternatives in their order of preference to the investor, the proposed indicators of the efficiency of the investments, concerning the NPV, DPP, and coefficient of variation, can be used. Thus, rational investors, who averse to taking increased risks unless they are compensated by the commensurate increase in the expected utility of a risky prospect of dry port development, can be guided by the deduced marginal utility of investments. It is computed on the ground of the results from the system dynamics model. In conclusion, the outlined theoretical and practical implications for the management of risks, which are the key characteristics of public-private partnerships, can help analysts and planning managers in budget decision-making, substantially alleviating the effect from various risks and avoiding unnecessary cost overruns in dry port projects.

Reorganising purchasing organisation – Case Metsä Wood

The purpose of this study is to investigate how a global company should organise its purchasing operations. The theoretical framework of this study consists of organisation structures, management and coordination, purchasing organisational design, capabilities and outsourcing. The research is a qualitative case study and the used method was theme interview. Four global large scale companies were interviewed for this research in order to gain knowledge about how other companies have organised their purchasing functions and to gather their best practices. Interview results and theoretical framework were compared in order to test the theoretical framework and to create a detailed framework about how to organise purchasing operations in a global company. As a result a 14 point model about effective purchasing operation organisation for a global company was created. This model includes all the key determinants which should be considered when organising the purchasing operations. The results show that the organising decision should be always in line with company and purchasing strategies. Strategic purchasing operations should be centralized and operative tasks decentralized.

Digital Content Marketing in the Business-to-Business Context. A Case Study on Marketing Communications Agencies.

Marketing has changed because of digitalization. Marketing is moving towards digital channels and more companies are transitioning from “pushing” advertising messages to “pull” marketing, that attracts audience with the content that interests and benefits the audience. This kind of marketing is called content marketing or “inbound” marketing. This study focuses on how marketing communications agencies utilize digital content marketing and what are the best practices with the selected digital content marketing channels. In this study, those channels include blogs, Facebook, Twitter, and LinkedIn. The qualitative research method was utilized in order to examine the phenomenon of digital content marketing in-depth. The chosen data collecting method was semi-structured interviewing. A total of seven marketing communications agencies, who currently utilize digital content marketing, were selected as case companies and interviewed. All the case companies are from the marketing communications industry because that industry can be assumed to be well adapted to digital content marketing techniques. There is a research gap about digital content marketing in the B2B context, which increases the novelty value of this research. The study examines what is digital content marketing, why B2B companies use digital content marketing, and how should digital content marketing be conducted through blogs and social media. The informants perceived digital marketing to be a fundamental part of their all marketing. They conduct digital content marketing for the following reasons: to increase sales, to improve their brand image and to demonstrate their own skills. Concrete results of digital content marketing for the case companies include sales leads, new clients, better brand image, and that recruiting is easier. The most important success factors with blogs and social media are the following: 1) Audience-centric thinking. All content planning should start from figuring out which themes interests the target audience. Social media channel choices should be based on where the target audience can be reached. 2) Companies should not talk only about themselves. Instead, content is made about themes that interests the target audience. On social media channels, only a fragment of all shared content is about the company. Rather, most of the shared content is industry-specific content that helps the potential client.

The roles and tasks of salespeople in Software-as-a-Service company's value-based sales process

Recent research in relationships marketing and sales and sales management emphasizes companies’ ability to create customer value as a core of all business-to-business relationships. The role of individual salespeople in business relation-ships is commonly acknowledged, but has been largely neglected in extant literature. This study offers especially more detailed perspective on salespeople’s roles and tasks in business-to-business value-based sales process. It focuses especially on Software-as-a-Service business environment. The objective of the study is to find out how salespeople can create value in Software-as-a-Service value-based sales process. It determines value-based sales process, salespeople’s roles and tasks in it, and combines value assessment in to process. The results indicate that salespeople have to adapt different selling roles and tasks in Software-as-a-Service value-based sales process to be able to support the customer’s value-in-use experience. The process itself is highly complex, consisting of multiple facets and selling behaviors, and involves relevant actors from both parties of relationship. The study concludes with a discussion of possibilities that provide interesting aspects for future research.