When I started my journey in the field of marketing and advertising, it was very different from what we see today. The times were simpler, the campaigns were smaller compared to what we see now and the competition was limited.
With the world becoming smaller and increasing competition, especially due to smaller businesses also making use of all the marketing and advertising tools available, marketing has evolved into a powerful influence on the customers.
Here are some of the ways in which it has changed in the recent times:
- Digital Transformation: Social media platforms and their reach to the wider target audience has revolutionised the marketing world. It has become simpler and quicker to reach their target audience and also tap into other segments of the market. Online advertising, social media marketing, content marketing, and search engine optimization (SEO) are just a few examples of how digital transformation has reshaped marketing strategies.
- Shift to Customer-Centric Approach: In contrast to traditional marketing that targeted everyone at once without realising the needs and wants of the people, modern marketing is more focussed on product centric messaging. It strives to understand the pain points of customers, builds relationships and engages in a two-way conversations. Customer feedback and engagement are highly valued, leading to better products, services, and customer experiences.
- Influencer/ Content Marketing: The rise of social media has given birth to influencer marketing where businesses collaborate with influencers with a strong following on the social media platforms and a much wider and targeted reach as compared to celebrities. Their strong point is their content- valuable, informative, and entertaining that includes blog posts, articles, videos, infographics and reels. Influencer marketing combined with strong content helps in building trust, and enhances search engine visibility leading to increased brand awareness and sales.
- Rise of Artificial Intelligence (AI): AI has taken the world by storm and is transforming marketing by automating processes, and delivering personalised worksheets. AI-powered tools also help the marketers with email marketing, chatbots, and predictive analytics.
- Shift from Interruption to Permission Marketing: Traditional marketing often relied on interrupting consumers with ads or messages. Modern marketing has shifted towards permission-based marketing, where customers willingly provide their consent to receive marketing communications. This approach allows marketers to target a more receptive audience, resulting in higher engagement and conversion rates.
