Digital Marketing Assignment 1

This assignment provides detailed information on digital marketing and its influence on organizations. It covers the concept and forms of digital marketing, the difference between digital and traditional marketing, the advantages and challenges of digital marketing, and the McKinsey 7S model. The assignment focuses on the Commercial Bank of Ceylon PLC as a case study. Read now for a comprehensive understanding of digital marketing.

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Digital
Marketing
Assignment

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Contents
1.0 Introduction .............................................................................................................................. 3
2.0 Concept and forms of digital marketing................................................................................. 4
3.0 Digital vs Traditional marketing. ............................................................................................ 7
3.2 Digital Marketing. ................................................................................................................ 7
3.3 Difference between Digital and Traditional Marketing. ................................................... 8
4.0 Mckinsey 7s Models. ................................................................................................................. 9
4.1 Transformational change model for Commercial bank of Ceylon PLC. ...................... 10
5.0 The advantages and challenges of digital marketing. ......................................................... 11
6.0 Local & International transformational change initiatives. ............................................... 12
7.0Commercial bank of Ceylon PLC’s Key Issues and Recommendation. ............................. 15
8.0 Conclusion. .............................................................................................................................. 17
Reference. ...................................................................................................................................... 18

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1.0 Introduction
Marketing is a fundamental part of restless, developing, and dynamic business activity.
Furthermore, Internet marketing entails the use of digital media to inform and attract
customers to buy the company's products and services. Digital marketing uses electronic
commerce’s ability to sell and market products. In more depth, digital marketing is
described as "achieving marketing goals through the use of digital technology" (Chaffey et
al., 2009). The value of digital marketing has been realized by organisations in the
developing world. Digital marketing is the use of technology to support marketing activities
by matching their needs to increase customer knowledge (Chaffey, 2013).The object of the
reports to provide detailed information to understand what digital marketing is and how it
influences the organisation. Along with this, section analyses the digital vs traditional
marketing. Besides this section also explores Transformational change models along with
that, this report will deliver the theory of digital marketing and how it is applicable in the
chosen organisation. The organisation which this report will discuss is the Commercial
Bank of Ceylon PLC. It was founded in 1920. Year after year, local and international
independent organisations that have honored Commercial Bank for its excellent
contribution to the banking sector receive new honors and awards. Online Banking, Mobile
Banking-USSD, Mobile Banking-SMS, Mobile (WAP), Mobile Banking-App, and the
Bank's e-Passbook service are all available via Commercial Bank's Digital Banking
channels. Where the commercial bank has won many awards for digital marketing. The
author’s views and analysis on the topic as well as any points discovered will be
highlighted, thus concluding the assignment.

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2.0 Concept and forms of digital marketing.
According to Kotler (2017), stated that digital marketing emphasizes a selection of profile
activities that use all the available digital platforms to promote a product or service or to
create a digital brand. In other words, to identify, attract win, and make customers loyal, all
the activities planned and developed in a business via the Internet (Banerjee, 2016). Based
on the above explanations it’s clearly stated that not only in business but also in customer
behavior, digital marketing has created and will contribute to important changes but this
type of marketing offers organisations with a specific platform to identify and consider
customer needs and build opportunities dependent on time and position for customers. It
also reduces expenses by avoiding needless transactions (Kiang, 2000). The rapid
developments in technology and changing market conditions have contributed to growth in
digital marketing (Mort et al., 2002). Digital marketing has grown rapidly and continually.
This is shown by the heavy use of the internet by many organisations around the world,
mainly for advertisement and corporate promotion. Digital marketing strategies offer
organisations as much potential. Therefore, Internet marketing is the most significant aspect
of digital marketing as a subsystem. Innovations have been developed to build new business
opportunities for advertisers to handle their websites and meet their business goals (Kiani,
1998). When people adapt to social media, which is itself a motivational message for
organisations and communications professionals, they experience an improvement in self-
esteem and satisfaction (Arnott, 2013). Digital marketing has affected growing sales
revenue, especially for goods where customers can read feedback and write comments
about personal experiences.
The exponential evolution of digitization in all fields of the industry is determined by the
modifications of the present stage of the industrialized economy with the knowledge
society. This made it possible for analysts to intervene in the explanation of the reach of
Internet marketing, which they consider to be part of digital marketing.

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3.0 Digital vs Traditional marketing.
Traditional marketing is a useful marketing mode that, with different offline marketing and
promotional strategies, allows to meet a semi-targeted customer. This marketing method is
difficult to disregard and involves traditional advertisements that can be used regularly.
Digital marketing refers to the associated marketing work performed by an organisation
through the Internet or an electronic device. The organisation should use digital marketing
to meet their customer.
3.1 Traditional Marketing.
According to Katz (2008), Traditional marketing has an element that is more physically
pleasing, emotional, and more trustworthy. Based on the above explanation traditional
marketing communications apply to media film, radio, television, physical meet, physical
print, billboards, and Point of purchase (POP). Built an estimated exposure time period or
traditional marketing communications lifetime (Belch & Belch, 2006). Magazines still have
the largest life cycle in any form of traditional marketing (Blakeman, 2014). It is quick to
switch magazines hand to hand. Newspapers have a much reduced lifetime again, yet
another member of the public will pick up a regular newspaper, drop it on a commute, and
pick it up again. Ghauri (2011) discusses the meaning of B2B marketing operations, from
basic coffee meetings to more formal conferences.
3.2 Digital Marketing.
Digital marketing has introduced many new resources and methods, including social media,
email marketing, blogs, and video marketing, to the front of marketing strategy. Digital
marketing makes it possible to evaluate CRM (Customer Relationship Management) even
more intensively and in-depth, which was not possible until the rise of non-traditional
approaches (Perreault et al., 2013). Additionally, Online targeting customers has become a

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major plus for advertisers because they can now see not only what a consumer is watching,
but for how long, where, and why (Ghauri & Cateora, 2014).
3.3 Difference between Digital and Traditional Marketing.
Both traditional marketing and digital marketing have their own positives and negatives,
and digital marketing also has an upper hand over traditional marketing methods.

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4.0 Mckinsey 7s Models.
Nowadays, it is found that organisational structures are used in many organisations to
measure current success and improve efficiency and, as a consequence, good outcomes are
obtained. McKinsey's 7S Model is one tool for achieving consistency in an organisational
system. In the early 1980s, this model was developed with the aid of consultants Tom
Peters, Robert Waterman, who worked with the consultancy firm McKinsey and the
Company, Julien Philips, and Anthony G. Athos. According to Rumbaugh et al (2006), The
Mckinsey 7s model will determine what something is doing (specification) and how the
function is executed (implementation). In modeling, these things should be isolated. Before
wasting too much time on how it's important to get what right. Additionally, Academics
and professionals alike use the McKinsey 7s model, which is now one of the most common
strategic planning methods (Salvarl & Dogu, 2018). In the study, the suggested model
helped businesses focus on successful empowerment and build solutions focused on their
own priority to "implement the enterprise resource planning (ERP) method with a
flexibility strategy" (Halepoto et al.,2015).
Due to more and more demanding customers and new innovative technologies, the digital
market has never been so unpredictable. According to Berghaus and Back (2016), these
transformations have had an effect on Organisational structures, operating procedures, and
the perception of end-users. Given the diversity of this subject, a critical discussion on
digital market transformation from a managerial perspective has been proposed. Based on
the above explanation how digital market change practices are discussed and prioritized at
present and thus lead to the body of expertise on Organisational transformation. In another
study, under the framework of McKinsey's 7S model, the competitive review of a business
organisation was performed. By using Analytic Hierarchy Process (AHP) to extend
McKinsey's 7S structure requirements and sub-criteria to digital transformation. The
suggested model can be used to measure the percentage of an organisation's digital
transition efficiency (Kocaoglu & demir, 2019).
Based on the McKinsey 7S models, this model seven factors are primarily used. Classified
as hard elements that are strategy, structures, and systems and soft elements that are style
staffs, skills, and shared values. Although the transformation of key business operations

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also requires this kind of transformation factors. To manage these challenging
transformation factors, Organisations should transform their business activities as well as
their products and practices (Matt et al., 2015). Thus, Because of the transformation of
digital technologies and their widespread infiltration of all markets, businesses are
experiencing a fully rapid and radical change.
4.1 Transformational change model for Commercial bank of Ceylon
PLC.
Comparison between Mckinsey 7S model with Commercial bank of Ceylon PLC.
Mckinsey 7S model Transformational change for commercial bank of Ceylon PLC
Strategy The role of digital business in defining and executing operational
strategy. Digital market plan alignment strategies.
Structure The change of the structure of the company to encourage digital
strategy. Integration of other management by digital marketing or
e-commerce departments.
Systems To help digital business, specialized processes, protocols, or
information systems are created. Collective digital marketing
effectiveness reporting.
Style This includes both the way main managers operate to accomplish
the objective of the organisation and the Organisation's cultural
style as a whole. Dynamic and effective or a traditional service
refers to the role of digital marketing or e-commerce teams in
influencing strategy.
Staff The division of workers by background, age, and sex, as well as
attributes like marketing and the use of contractors and consultants.
Hiring and retention of virtual work by staff.
Skills Unique skills of key employees, but can also be viewed as a team's
unique skill set. Staff skills in different fields, such as the selection
of vendors, project management, content management, and specific
media platforms for e-marketing.

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Shared Values The foundations of the digital business or e-commerce organisation
often form part of common values and culture. Rising senior
managers' and workers' awareness of the relevance and profitability
of the digital business.
Figure 4: Transformational change model for commercial bank of Ceylon PLC
Source: author developed (2021) based on Commercial bank annual reports and
developments training models (2019).
5.0 The advantages and challenges of digital marketing.
Along with the objective to develop successful digital marketing strategies that have a high
propensity for achieving the company's objectives while simultaneously fulfilling the
profile and capability of organisations to the greatest extent possible. It's important to
consider all of the advantages that digital marketing has to offer. According to Ainscough
& Luckett (1996) Firms benefit from the rise of digital marketing in a variety of areas, for
example, The Site should be used for publishing, online sales, market analysis, and
customer care, according to the argument. Other researchers have further argued the digital
market can help with brand development, customer word-of-mouth communication,
promotional events, and crowd-sourcing (Whitla, 2009). Additionally, Companies may use
digital marketing to connect with consumers, offer products and services, and discover
potential business partners in real time, all over the world (Jones et al.,2011). Although,
Consumers will have more convenience as a result of new technology, as they will be able
to access even more and better knowledge on goods and services that attract them, as well
as shop them from the comfort of their own homes, saving time (Eid & El-Ghory).
To come up with innovative marketing strategies, Using information and communication
systems and technologies, Organisations must be mindful of not just the advantages offer,
but also the challenges digital marketing poses. Also with the challenges that come with
bringing them into practice. According to Zhao & Zhu (2010) since digital marketing
strategies can be rapidly and efficiently replicated by rivals, the use of digital marketing

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allows companies an "open book" for competitors. Based on the above explanation those
who will copy and use trademarks and brands, as well as brand identities, to mislead
customers and gaining market share. Additionally on the Internet, all customers can see and
view negative feedback as well as information about products, services, and trademarks
(Kondopoulos, 2011). In light of the above, which can harm a company's reputation and
trigger customer turnover. Other researchers have further argued the fact that digital
marketing campaigns make use of technology that monitors and collects data from Internet
users raises privacy concerns, including the protection of their personal information
(Mohan 2006).In view of the preceding, People have a serious distrust to this form of
marketing and often refuse to take part in such events. Although, the repeated appearance
of open and closed windows, the number of online advertising messages in the form of
banners video materials being interrupted (Bayo-Moriones & Lera-López, 2007). Based on
the preceding explanation can irritate consumers, causing them to lose confidence in
businesses.
6.0 Local & International transformational change initiatives.
The banking industry in Sri Lanka is currently undergoing digital transformation. Ensure
that the organisation will adjust to the competitive landscape. To improve bank efficiency
and thus increase the probability of a long-term profitable business, banks must adopt an
integrated digital transformation strategy. As stated by Reddy et al (2017), a successful
digital transformation plan would enable companies to make fundamental changes in the
way they work, communicate, and customize their systems.
According to the Commercial Bank of Ceylon PLC annual report (2019), Commercial bank
is accessible through a sensitive web application and two different mobile apps on a variety
of devices, including desktop computers, laptop, tablets, and smartphones.Commercial
bank has its mobile application that helps one to control the finances on the go in a fast and
safe manner. User convenience is improved, ‘ComBank Digital' comes with a variety of
built-in options that enable users to create digital banking preferences without the aid of
bank assistance. Financial structures and activities around the world, including in Sri

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Lanka, are rapidly evolving due to the fourth industrial revolution. The Bank aspires to be
at the forefront of this change. Commercial banks must communicate with their customers
quickly and efficiently, while also presenting them with a compelling digital banking
proposition. The digital strategy of a commercial bank has advanced. Economic and
financial ecosystems are being changed by digital technologies.
According to the People’s Bank annual report (2019), to make the advantages of
digitalisation available to the whole country, People's Bank began the process of digital
transformation in 2015. Since then, a range of digital banking solutions has been introduced
that provide customers with ease, speed, quality, and convenience at every stage of their
engagement. Taking the lead on Sri Lanka's digitalisation journey in banking and financial
services. People's Bank has been at the forefront of facilitating the penetration of digital-
financial services into the country's rural hinterlands and has had significant success in
assisting the country's transition to a digital society. By exploring the growth opportunities
in digital banking, people's bank is embracing a customer-centric culture, deepening our
customer relationships, and delivering outstanding customer experiences. In digital
banking, People's Bank is aligned with sustainable development goals. Such as, promoted
paperless banking through People's Bank's digital banking platforms, and introduced and
automated the procurement function for efficient resource utilisation.
According to the Sampath Bank PLC annual report (2019), Digital banking was one region
where Sampath Bank tried to gain a competitive advantage.Their digital strategy - the
ambitious program started a few years ago to place Sampath Bank not only as a digitally
powered bank but as the best financial technology solutions provider in the country
continues to be a key driver in this regard. The launch of the WePay Mobile Wallet is an
indication of their ability to use digital technologies to have a superior user service that
meets international expectations. In 2019, Sampath Bank expanded its social circle and
took concrete steps to build what it refers to as a "hybrid digital solution," which is aimed
at customers who are less digital natives. Sampath Bank's controlled evolution platform
aims to inspire more of our customers to go digital, recruit new customers through digital
innovation, and make digital banking the standard for all Sri Lankans.

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According to HSBC Holding PLC (2019), Digital banking, to make it easier for HSBC
customers to bank with it together, HSBC has implemented digital banking. This has
improved the quality, allowing everyone to draw new customers and increase market share
in several key markets and across the global network. This aim has driven HSBC over its
155-year history, and it continues to do so as people seek to respond to changing customer
expectations in a growing market and digital landscape. For Centuries,from letters of credit
to bills of lading, the international exchange has been dependent on paper documents.
HSBC is now a pioneer in the paperless trade finance action. HSBC is working with its
customers, which has simplified and sped up the process of doing business,improving
HSBC customer’s working capital quality. HSBC is making an investment in growth.
Technology and creativity are enhancing HSBC Bank's customer digital experience and
linking them to global opportunities. For retail customers, HSBC launched over 160 new
digital features to make daily banking simpler in 2019. Improved digital account opening,
loan and lease applications, and quick money transfers are only a few of the benefits.
Globally HSBC has made it simpler and faster for global customers to make payments
through HSBC bank’s redesigned ‘PayMe’ app and launched ‘PayMe’ for digital banking.

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7.0Commercial bank of Ceylon PLC’s Key Issues and Recommendation.
Key Issues Recommendation
Driving relevant traffic to the website
• When it comes to spreading brand
awareness in the right target
market, marketers are constantly up
against a challenge. This makes it
more difficult for a commercial
bank to attract the right kind of
traffic to their business websites.
• Conduct an audit of Commercial
bank online activity what tactics are
bank opting for to reach out to the
bank audience. Consider the
content produced by Commercial
Bank, the bank of the channel on
which it is broadcasted, the social
media channels where the bank is
active, and any paid or unpaid
campaigns that may be running.
Keeping up with modern trends
• Over the last few years, the digital
market and marketing technologies
have developed rapidly. It's still
evolving to meet the needs of
today's addressable market. As a
result, marketers must keep up with
all of these developments.
• Engage with the target audience of
a commercial bank on the
platforms where the bank is most
active regularly. People assist
commercial banks in gaining a
better understanding of what people
are saying about the bank and its
products/services. Customers
expect banks to be a part of their
conversation, which banks can
provide.
Lead generation using social media • When it comes to different social
media channels, many banks and
advertisers aren't sure how to do it
consistently.
• Integrating the bank's digital
marketing and sales activities is the

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most successful way to leverage
social media.
Effectively targeting the right audience
• One of the first and most important
things a good marketer does is to
figure out where their target market
is. With the number of internet
users growing by the day and their
needs shifting by the second, it's
becoming increasingly difficult to
keep up. One of the most difficult
tasks for advertisers is to target the
right audience.
• Take a look at the demographics of
the industry that banks want to
target. Identify customer's needs
and create customer personas
taking into consideration
customer's online behavior and
possible future needs. Determine
the needs of customers and build
customer personas based on their
online actions and potential future
needs.
Not getting lost in the volume • The digital world is growing, and
almost every organisation has
taken their products/services online
in order to reach a wider audience.
Many marketers are now faced with
the challenge of making their brand
stand out among the variety of
online tools.
• Although it is true that at least some
bank services are close to those
provided by other businesses, there
is definitely a small aspect that is
unique to a commercial bank.
Conduct customer and target
audience surveys to better
understand what customers want
and which needs the bank's brand
should meet.

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8.0 Conclusion.
In conclusion, the author's analysis is a challenge for the organisation to ensure that the
digital market is provided with the best quality services. This promotes in comparison to
traditional or conventional approaches, customers are looking and searching more on the
internet to find the best price from sellers all over the world. Customers are more likely to
purchase services on social networking sites if they find shopping services on social
networking sites to be useful and easy to use. When marketers understand the customer
better than the competitors, they have a greater chance of winning their digital marketing
goals. Furthermore, this assignment illustrated how Commercial Bank benefited through
digital marketing in their long-term goals. Finally, the author shared his analysis of the
information mention above. The author realised banking sectors must understand the need
of customers and having known about digital marketing which requires an in-depth study
of their plan for marketing.

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