Marketing is about necessary change–changing people’s actions, perceptions or the conversation.
Successful change is almost always specific, not general.
Focused change is necessary to ensure that companies remain competitive.
Size of your business and investment these days are not impediments to make changes.
You can make focused change with advances of technology. From crowd sourcing, online resource forums to finding valuable business partnerships.
“Outsourcing is no longer just for Fortune 500 companies. Small and mid-sized firms, as well as busy professionals, can outsource their work to increase their productivity and free time for more important commitments. It’s time for the world to take advantage of this revolution.”
-Vivek Kulkarni, Former President, Harvard Law School Association
As economies grow, information flow connects the world more rapidly, consumer consumption and expectations have changed. To be able to achieve their expectations, companies should look not just to new markets, but also understand the impacts of how consumer behaviour is changing, would change the way we communicate and trade.
With growing consumers expectations, the enterprise that thrives are ones that are agile enough to put in place the capabilities and skills necessary.
Top 3 trends in Marketing landscape:
–report shared by hospitality online journal
- Content marketing is replacing traditional advertising
Marketing’s new mantra of “Brands must now acts as publishers,” has arrived in part because of social media and its potential to engage in meaningfully conversations with their loyal fan base and potential clients alike. In short, content marketing is the new advertising. By investing in the sharpest media tools like blogs, social media, newsletters, webinars, ebooks, photo-sharing, or videos and shared media, you’ll drastically reduce the hefty investments in traditional paid media.
- Social Media and Mobile Will Be Inseparable
Now, people can create social media updates from their phone, while tagging friends or checking in. Mobile has allowed social media to truly become real time. Smartphones represent more than 50 percent of new mobile devices being purchased. And, the growth of connected devices will only continue to soar throughout 2013″There were nearly 6 billion mobile phone subscriptions in 2011, and 2.2 billion Internet users—roughly one-third of the world’s population. Facebook passed 1 billion users in 2012, while it takes only a week for Twitter users to send 1 billion tweets.Society has moved online, creating a connected consumer class with continuous access to goods and services.”-Compiled report from Accenture ‘ Energizing Growth-2013’
- More Unrehearsed Marketing Videos
Video is one of the most effective ways to make an impact on web visitors and the opportunities to use videos are endless. In 2013, video is predicted to be an even more vital element in a marketer’s arsenal with more and more people viewing and sharing videos online, including hundreds of thousands of consumers regularly streaming videos on their mobile devices. These videos can strengthen your organic SEO efforts and your video doesn’t have to “go viral” to be effective. Ensure that your social videos should showcase interesting and useful information.
Companies are changing their business and marketing model
Companies are changing their business and marketing model to attract the ‘independent’, ‘resourceful’ and ‘socially connected’ consumers.
Two good examples are publishing company Pearson Education transformed its entire business model when faced with a growing shift to digital, reinforcing its market-leading position.
Car rental company Hertz replicated the business model of new players offering short term rentals in its Hertz On-Demand
Fastest growing and industry leading companies employ ‘first movers advantage’, are adapting their business model with knowledge of analytics and consumption trends. They implement new technologies and reconfigured business models to established a more tailored approach to consumers needs and individual identity.
They also understand that ‘access becomes more important than ownership’ and some services are established for the better of social good, sustainable resources with care for environment. Meanwhile, fast followers see disruption as a template for enhancing their offerings.
Growing companies are embracing digital media, crowd sourcing for customer service, information and knowledge sharing, geog-profiling, in bid to profile their customers better and accord personalised services at the right time.
To attain a share of the growing global market, some businesses are collaborating with competitors. They are also collaborating more with other complimentary providers to enhance the user experience.
With this insight, which market position and strategy are are you going to take?
A) And industry leader, create first mover advantage and deliver superior value experiences,
B) A fast follower of change, be adaptive, agile with the right capabilities t0 turn insight into action OR
C) Miss out, keep to tradition and risk losing market share ?
Whichever choice you make, businesses that can achieve the right balance between traditional benefits of the old and the cutting edge of the new can shape—and have shaped—consumer change to their advantage.