A successful marketing aspect of any business is the ability to understand and utilize the inevitable change. Today, Digital Marketing is too enthusiastically accepted and too indiscriminately applied, but how did it awake to achieve that status? It shows that change is not costlier; at least if you understand it better, but also you have to change without suppressing the company’s purpose. The evolution of digital marketing has arisen some new questions which are not hard to solve; also it will turn up quick revenues if you adopt the new ways of marketing online.
This article is not a guide, but you will learn many things about marketing changes and the history of what happened in the marketing world in the last three decades.
Related article: Internet Marketing Course Online
Table of Contents
The Arrival of the Internet
In the 1990s, the marketing world initialised one unusual word —Digital; today’s charm digital marketing.
Tim Berners-Lee launched the World Wide Web in 1991, but the true potential of the Internet was not seen until the arrival of Netscape( Web-Browser) in 1994.
Three decades ago, the big companies of today Google, Amazon, eBay were the few who profited from digital marketing; however, today, the stories of many such companies are ever-lasting. Two years after that the number of people scratching their computers hiked to 70 million from 14 million.
And, then the evolution of marketing was like never-before.
One of the few examples of online marketing in the late 90s is Bristol-Myers Squibb, which was raising awareness about their new drug —Excedrin. And, in a single day, 30000 registrations were in for free drug sampling to the customers.
And, still popular Email became the new way of marketing. Though the traditional marketing strategy of pamphlets, TV ads, radio was booming in accordance with the effect of the internet on businesses— as people inquired about their queries about the ads they have seen on the conventional platform online from the comfort of their homes.
Digital marketers and online marketers started SEO campaigns— like Keyword usage, creating backlinks and were in the race of producing the highest ranks on the internet.
Razorfish (Still a popular platform with the tag of web marketing company) played the initial role in bringing out unique SEO strategies and sharing with the new small and big organizations.
The Role of Data
Data was produced —still producing— in the quantities that were never possible before.
By the dawn of the 20th century, digital marketing replaced the conventional methods of storing information— C.D.s, Floppy Disks.
The boon of this data was that all the companies could use it in understanding their customers.
The rise of Social Media Platforms after the establishment of .com like LinkedIn(2000), MySpace(2003), Facebook (2004) and Twitter(2007) became a boon to businesses, as owners understood their requirements better, made their product to their satisfaction and started advertising on the new online platforms.
Marketers put more focus on people than their product and only started with their product when they understood the in’s and out’s of customers behaviours.
The new ways of online marketing were tracking data, and companies like Oracle, Optimove, and Domo all used it efficiently.
For instance, Domo used the power of predictive analysis and collected data on the emotional behaviour of people and improved their customer relationships better than ever.
New companies did not take much time in following the pattern of that strategy and started focusing their attention on the people for marketing— in the end, almost all got quick success.
How Customers Became Priority?
Understanding customers was not only the new way of online marketing, but it had become the obligation of the companies if they want to establish better compete with others.
As the marketer’s perspective changed rapidly, they understood that the old customers could not be potential future customers.
Their focus changed from their products to generating market information.
Mistakes like wrong people, wrong time, and the faulty product were fading— and their success was based on one sole improvement —creating and storing the data.
People (Customers) perspectives changed— when traditional marketing was in the play, people focused on owning. With the evolution of digital marketing, people were more focused on the use of the product than ownership of the products.
The channels of Selling changed to trading (or more accurately people started leasing products) —cars, trucks, even the kitchen equipment that was before purchased, got included in the books of rent agreements; the revenues were and still booming, and today, the rental contracts weigh about $2.7Billion.
It did not take much time for the marketers to shift their attention towards customer service from customers’ purchase— the services like education, travel were all transformed. As of today, about 80 percent of people use these services.
The jobs of blue collars shifted to the suburbs; teenage and young people’s markets became much focused— as the decision of them became prominent in the families; their choice was valued towards the growth of the family.
Also, with the whole world becoming visible, customers were fancying/wanting new products deferred to a great extent. In essence, they became flexible in getting something new, so the marketers shifted their attention towards the demands of the customers rather than their self-satisfaction in their products.
The marketers were now producing that was not imaginable to even them as a company a decade ago. In essence, the principal reason for this was that marketers were lining up to work for the people, delivering them what they need and working and making their product accordingly.
Today, the marketing of the companies is fragmented following the people’s needs, and they started marketing specifically for each group; one product was advertised differently( improved differently), and the marketers divided themselves to handle people according to their needs, instead, according to their products.
Once a very famous target (or word) used by the marketers —the average section of customers; got faded in no time, and everyone became essential (me, you, young, teen, elderly, men, women, child) everyone was given unique attention.
And, the companies that didn’t want to play such games faded too quickly, either you have to play the game according to the customers or do not play at all; cause if you did, you will have wasted your time, money and what could have become the people’s choice.
The Evolution of Marketing Research
The American Marketing Association (AMA) changed itself rapidly (customers became a priority, and their information was everything for a business).
Their studies showed that the companies whose revenues were higher than $25 Million had one key reason for booming quick top and efficiently —a team of marketing research.
And, in no-time, every business (small or big) started spending big bucks on their marketing teams.
Today, the new way of online marketing teams has one specific goal — and that is; develop the market( their product) according to the customer’s needs for both the current as well as soon to come products.
The marketing team started to focus on the estimation of advertising, perception of market tendencies, their sales analysis, they began to show their company the demographics of the sales portion. And the online marketers started working to develop their sales territories.
The terms like Future Managements Problems were marked with the importance, and research became the formative tool in administering such issues.
They started to determine what will be the safest and most fruitful channel for categorizing their product. The unheard terms like distribution channels were vital focus to digital marketers.
Take for example the Sears, which is the prominent retailer of diamonds world-wide started carrying, oil paintings, mink coats, perfumes in their stores— only because the distributional channels became clear to the marketers; they understood the distribution cost that would have been at a hike if they were not to be put at one place.
This was all not in vain, and the new way of marketing showed definite results.
In fact, today, in the online marketing era, the total marketing function is looked at by the marketing teams.
The marketing team is a crucial member of the product planning committee, marketing strategy committee; all this because they made a vital contribution and generated profits to the old companies.
Today they work in a new way like:
- Advertising their products for the coming period and updating their records standards for the following period rather than the forgone sold.
- Valuing the stocks and re-producing them only if it is necessary.
- The great in-store promotion is part of their plan.
Products, Market Analysis, Advertising, Promotion, and Inventory Control are some of the new ways of online marketing that were unknown before.
The Change in Global Field And How You Can Develop Your Marketing Strategy
Today, the changes are incomparable when you look up at the pace (it’s way rapid) and the only best way for small businesses to coordinate in according to the fashion of multinational organizations is becoming one— means developing their marketing plan which does not restrict anything, anywhere, any section.
To walk this pace, and to become a world-wide known company you have to transform the complexities of the marketing research on simple key aspects —that is changing yourself, and develop your marketing team to work towards the needs of the customers, understand them like you never have before and proceed accordingly.
The focus should be on that tomorrow’s marketing team should be good, best, and better than yesterday’s executives.
You have to evaluate the new products or services and the features attached according to the marketing potential.
Even the tiniest details like packaging play a vital role (and should be according to the standard of the customers).
Your practices of delivery and services should be looked carefully (or to put accurately in accordance with what the customers prefer).
And above all, evaluate your advertising preference and select one that you think will give the best returns.