How Marketing has Changed and Expanded in This Technological Age
It’s no secret that the digital age has had profound impacts on all parts of our daily lives. We can talk to people in China with the swipe of a finger, order any item we’d ever want with the touch of a button and find love with a few keystrokes. Our language, communication, ideologies- have been inevitably and forever changed. So it’s no wonder that the business of marketing- an entity based around effective communication and promotion would also be affected by the invention of new, more efficient forms of conveying information.
In order to understand how marketing works, we must first understand a bit more about marketing. Marketing entails a concept called the four p’s, which entail: identification, selection and development of a Product, determination of its Price, selection of a distribution channel to reach the customer’s Place and development and implementation of a Promotional strategy. Adrenaline Broadcasting always remains cognizant of these principles and implements them into everything we create.
We are also able to keep up with this fast-paced, ever-changing digital age. Like we say on our website, “With TV, Film, Radio and Social Media all around us, we are constantly connected to a flowing feed of information. Although this is such a great venue for marketing, it makes it all the more important to stand out in the crowd.”
There is a seemingly limitless wealth of data online, including customer reviews and countless vendors to purchase from. Nowadays, the purchasing power is in the customer’s hands more than ever before. In the past, companies had more power to convince and spark conversations with customers with regards to purchases and merchandise. Speaking to a company directly was considered a logical step in making a purchase. Today, however, customers are able to locate all the information they need (and more) before ever speaking with the company. Traditional strategies like cold calls, cold emails, snail mail and trade shows have much less of an impact. The bad news for marketers is that much of their campaign budgets are not being utilized. The good news is that there is an entire set of new strategies available for marketers who want to get an edge over the competition and a lot of them are free, or at least pretty cheap.
There are several ways to utilize the tools available to us in this digital age for the good of the company. There are six primary principles: always provide value, use content, use multiple channels, use analytics, look at SEO (search-engine optimization) and focus on the customer. You can provide value by treating your target audience to a token of value- maybe it’s a free item, a piece of information, or even a thoughtful video. Utilize content by creating written pieces, pictures and videos on topics that are germane to your industry, but not necessarily promotional pieces. It is also absolutely imperative that your company utilizes all channels available for communication- website, Facebook, twitter, Instagram, blogs, etc. Use analytics by measuring your ROIs (return on investment) and KPIs (key performance indicators). Tap into SEO by using keywords in the right places, leveraging the right outlets and connecting back to your homepage. Lastly, make sure your marketing is swayed by insight you have gathered from current or prospective buyers.