When we talk about how marketing has changed in the last 10 years, many people assume it is a minor change like the availability of online buying options. But the fact is, marketing in its entirety is no longer what it used to be.
According to Brian Fetherstonhaugh, CEO of Ogilvy One, marketing is no longer about Product, Place, Price, and Promotion but about Experience, Everyplace, Exchange and Evangelism.
Well, improvement in technology and people’s penchant for buying things online are some of the major factors shaping today’s marketing landscape. But there other factors that directly affect marketers and business owners beyond these.
In this post, Ali Soudi, the marketing manager of Be Unique Group will be showing us how marketing has changed in the last 10 years. Be Unique Group is a leading digital marketing company in Dubai and was awarded the fastest growing premier Google partner in the MENA region.
Let’s look at the aspects of marketing that has changed and how you can position your firm to take advantage of the changing times. Read on:
Contents
Data and Analytics Not Intuition Drives Today’s Marketing
Img source: analyticsvidhya.com
Some decades ago, intuition and ability to understand people’s buying psychology is an asset that any savvy marketers must possess.
Today, you don’t need to put yourself through that stress because there are millions of data available to help you. Whether you are looking for information about the behavior, income level, and even preferences of your potential buyers, you will find a plethora of tools to help you.
However, what is important in marketing today is the ability to understand what to do with the available information and how to refine it to get the best out of it.
Marketer’s Expertise is Now More Important Than the Marketing Budget
Marketing used to be for the big shots; firms with marketing budget large enough to buy ad space on any website, radio, newspaper, and television.
Today, the most important factor isn’t the budget but the expertise of your marketer(s) because a savvy marketer can achieve more with $1 than an inexperienced one with $10.
This is possible because social media marketing and pay per click (such as Google ads) make it possible to target only people who are most likely to be interested in your offerings. So every dollar spent guarantees a better ROI.
Customer Experience Has Become a Big Factor in Marketing
Img source: futuredirectors.com
Today marketing is more than getting prospects to buy your products. Instead, brand awareness and building a loyal community are more effective marketing techniques.
This is because today’s customers are not only interested in buying your product, they want to know the story behind your product as well as be a part of the company (tribe or community).
Customers want to believe that you are not just interested in the profit but in their overall experience and beliefs.
Fortunately, social media channels have made it possible to establish such a connection with existing and prospective customers.
Marketing Tools are Readily Available Today
Apart from the availability of online advertising channels, there are a lot of marketing tools out there. Whether you are looking to generate insight into people’s buying behavior or save time, money, and automate mundane marketing tasks, the tools are available.
This has really made scaling businesses much easier than it used to be.
Marketing Has Become More Dynamic
Img source: causeandeffectstrategy.com
In today’s marketing world, there is no rule to the game and nothing is constant. With technology at the heart of modern marketing, everything is changing at the speed of light.
For instance, technology updates may mean more features to enhance or break your existing marketing structure. The introduction of a new tool may mean that your existing marketing tool will become obsolete.
So, knowing how to use existing tools or make sense of data aren’t the only important factors, thinking outside the box and keeping up with changes is also important to avoid being left behind.
