The Evolution of Marketing
The world of marketing has evolved greatly since the world wide web became publicly available in the early 1990's. It became clear to marketers that old marketing strategies limited their reach, and were no longer effective at reaching their potential customers. From the early 90s to today, almost half of the world’s population is online. Therefore, it is important that your business has a strong online presence and continually adapts to effectively reach your target market and stand out from the crowd.
The modern-day digital era gives consumers the power to dictate how they want to receive marketing content. Your business has to meet the standards of your buyers and adapt to the changing market.
The key marketing changes experienced by businesses are…
- Expectations of new client generation. Your clients want lasting reliable products, valuable marketing content and social proof.
- Influence of economic responsibility and sustainability. There are also more modern ideas of the values your business should have.
- Methods of marketing. Marketing has changed, and continues to change, at a fast pace. Trends come and go, customer expectations flucuate and different social platforms can come and go.
How can you adapt?
- Educate yourself and your team on the importance of marketing within your business and invest in it. This could mean outsourcing your marketing function, or investing in some marketing training for your team.
- Go green! 60% of customers want to spend their money with more sustainable busiensses and are now looking for greener alternatives. You need to adapt your business offers and values, putting a sustainability strategy in place and being transparent with your customers about your journey.
- Research research research. Get to know your target market and begin to advertise your unique selling point(s). It is also worth completing a SWOT analysis on your company to understand what is working well, what needs improvement and any areas of improvement.
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