Marketing Evolution ((TOP))
These changes create new opportunities for marketers, but many organizations are not designed to capitalize on them. Too often, paid and organic search teams have competing incentives, as search engine marketing (SEM) practitioners are goaled on immediate return on advertising spend, while search engine optimization (SEO) practitioners are goaled on outcomes such as domain authority, which builds slowly. This misalignment between SEM and SEO intensifies when brands have one agency running SEO and another running SEM, causing stakeholders to fight for budget.
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This economic movement triggered the rise of the Industrial Revolution, which started in Britain and expanded worldwide. Companies such as Slater Mill and Ford Motor Company dominated this industry. They hired thousands of factory workers to sustain the demand for production.
More importantly, their goal was to increase efficiencies in production and distribution. When it comes to marketing, businesses focused their efforts on promoting low prices and beating their competitors.
Hence, the marketing concept was born. It revolves around the idea that reaching the business goals relies on understanding the needs of target customers first. Additionally, it concerns providing them with the desired satisfaction than its competitors.
The surge in mobile phones and other smart devices has also contributed to the popularity of digital marketing. Since more people are now on their smartphones, this enables marketers to reach a wider audience. Content marketing, Search Engine Optimization (SEO), and mobile marketing are a few of the strategies they use to dominate different digital platforms.
As you can see, marketing did not happen in a few years. It has significantly gone through an evolution in the past centuries until today. It all began when production was the sole focus that led to the rise of the Industrial Revolution.
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Marketing evolution has entered a new realm by going digital. And with that, abundant choices for reaching your target audience. What are the latest approaches and channels? Which ones are right for you?
Digital marketing uses electronic means to connect with buyers to sell a product or service or increase brand awareness. This type of marketing occurs regardless of whether the users are online on the Internet. Digital marketing is over 100 years old, beginning with the invention of the radio. Other forms of digital marketing include TV, telephone and digital billboards.
However, online marketing is the most popular form of digital marketing. Online marketing is the simplest way to reach your target audience in the right place and at the right time. Examples of online digital marketing include:
Omnichannel marketing is an evolution of multichannel marketing, where you make your brand available across multiple channels. Omnichannel marketing takes it further by seamlessly integrating the user experience across all digital channels. This method allows the customer to move from one platform or device to another and not just have a similar interaction but also retain their shopping and purchase history.
Aside from customers feeling valued, personalized experiences build brand trust and promote customer engagement. How can you know your shoppers to create personalized marketing experiences? Here are a few tips:
Why has influencer marketing grown so popular? Consumers see influencers as authentic. Furthermore, people can engage directly with influencers. Many influencers respond to comments and chat with followers. This meaningful connection tends to make influencers held in high regard.
When dipping your toes into this marketing strategy, you may wish to start with a micro-influencer. Micro-influencers are individuals with between 10,000 and 50,000 followers. Micro-influencers tend to have the highest engagement rates across multiple social media platforms.
In 1991, the introduction of the Internet completely revolutionised how everyone would live, work and play. For marketers across the world it opened the door to a new way of mass communication. When Hotmail (then known as HoTMaiL) launched as the first free web based email service it gave marketers a whole new way to reach customers. Previously email was only available to students or employees. The introduction of personal email addresses (that were free and available to all) transformed direct marketing.
Up until the 1990s, B2C direct marketing was mostly done by post or the telephone, and both methods were very expensive. With email, marketers were now given a cost effective, quick way to reach consumers. It was seen as a blast all mass marketing solution; the days or spray and pray email marketing began.
In 1998 the Data Protection Act was updated to ensure all email marketing included an opt-out; in 2003 the Can Spam Law was introduced in the US setting the first regulations for commercial emails; in the same year in Europe, the Privacy and Electronic Communications Regulations were introduced defining rules for marketing permission; and in 2004 Sender Policy Framework (SPF) was introduced providing an email validation system to help prevent email spam by verifying a sender IP address.
During this period the volume of marketing emails being delivered started to rise considerably, as did the volume of virus laden or pharmaceutical spam, turning the email environment into a virtual battleground between the senders and the receivers of email.
By 2012, it was reported over 40% of marketing emails were opened on a mobile device. With so much emphasis put on consumers reading emails through a mobile, marketers were forced to think about how their emails rendered on a phone.
Around this time, social media also had an impact on email marketing. Facebook launched publically (to anyone over 13 years of age) in 2006. By late 2007 the site had over 100,000 business pages, allowing companies to attract potential customers. Consumers could now interact with a brand through multiple channels; online, instore, Twitter, Facebook, email.
The rise in automated and behavioural led programmes have seen a reduction to the traditional newsletter approach as email strategies have evolved to focus on the specific needs and wants of each individual user. What started off as a purely mass marketing strategy has evolved into a strategy for customer and brand development.
Today marketing automation systems enabling advanced segmentation allow companies to send highly targeted email communication. Practices such as dynamic content have been introduced to create a near 1-2-1 experience between the user and the brand; and with more emphasis on relevance and engagement in order to achieve a good email reputation, quality is replacing quantity as a strategic approach to email marketing.
Business has evolved significantly in the past 200 years, progressing through different phases of evolution as advances in all areas of life change the way people live and work. In line with this evolution, the marketing function has evolved through what theorists have identified as seven distinct stages. Understanding how to leverage modern marketing technology and new communication strategies in the new marketing era can help you to build deeper relationships in the marketplace.
According to the Evolution of Marketing Philip Kotler, marketing has progressed through five stages since the dawn of the Industrial Revolution: the production era, the product era, the selling era, the marketing era and the holistic era.
The simple trade era stretched from the beginning of history to the middle of the 19th century, when trade revolved around local barter economies. Between the 1860s and 1920s, mass production became the focus in the production era. In this era, simply mass producing goods was a primary driver of sales. As the production era gave way to the sales era (1920s to the 1940s), modern marketing began to take shape.
From the 1940s to 1960s, branding and positioning became important as marketers began to understand the value of customer loyalty and brand reputation in the marketing department era. From the 1960s to the 1990s, the marketing company era phased out what theorists call the manufacturing concept in favor of the marketing concept. The marketing comceptera gave way to the relationship marketing era, in which marketers began to see long-term customer relationships as a key to company growth.
Although history may change the title, the current marketing era as of this writing is known as the digital marketing era or the social marketing era. No matter the name, this era is characterized by making personal connections and building relationships on a global scale, involving customers directly in product development decisions and utilizing the Internet to spur word-of-mouth marketing and leverage loyal customer relationships.
Presence on social media is vital these days. According to a 2012 study by A Sales Guy Consulting, 78 percent of salespeople who utilize social media outperform their peers, and the same is true in all areas of marketing. Learn to tap into the power of crowd sourcing and continuous engagement to make the most of your social media efforts. Use social media to initiate two-way conversations with customers about new product ideas, new markets and new promotions. Set up customer support resources to handle service issues in public forums. Develop brand champions through relationship marketing via social media to spur word-of-mouth advertising and cultivate lasting relationships. With careful management, you can use social media to make your brand something that people want to talk about and share. 041b061a72