‘Change is The Law of Marketing’
Markets keep changing. With the fast paced advancement in technology and the induction of internet, the world has become digital and mobile. Markets are dynamic today. The change in dynamics is the result of this advancing technology.
Marketing is all around us. Marketing influences how we think and the way we trade. Be it in the selection of a product or discovery of the best deal. Marketing dynamics will always help guide you to understand how marketing will personally affect your decisions as a consumer as well as a business that you might choose to trade in. After all, it’s always better to follow marketing trends to make smart decisions and grab smarter deals.
Marketers are shifting their perspective to perform winning strategies. They are more concerned about the customer value and deep market insights. Marketers are serving their customers value with the help of content marketing. Content Marketing has already caught the eye of marketers in this fast-paced changing marketing dynamics. It has been found that customers are more retained when they are provided with valuable content in addition to new customers.
Not only marketers, now customers are also accepting this change by playing a more active role in developing and evaluating the brand value of the products they buy.
“While some marketers may see it as bygone, we see it as future; because a ‘CHANGE is GOOD’.
Businesses aspiring to succeed must adapt to this shifting dynamics and focus on customer-oriented strategies. Modern ideas and statistical data insights must be utilized effectively to make the customer journey more engaging. Moreover, to engage is to convert. The more you keep your customers engaged, the more you have the chances of sales-conversion.
Marketing can broadly be categorized into three stages:
CREATION, EXECUTION and INTEGRATION.
In this article, we will briefly discuss the changing marketing dynamics in each stage and competitive strategies that companies are adopting to meet these demands.
Stage I: Creation
This stage has seen a significant change right from content creation to content marketing. Content has proven to be the King in these changing market dynamics.
a) CONTENT MARKETING:
Content marketing has proven to be the fast-paced changing form of marketing. Companies are marketing their content extensively in the form of blogs, videos, infographics, case studies, eBooks, webinar reports, whitepapers, interviews, social media posts, etc. The goal of the companies these days is to provide value to the visitor by creating killer content along with building connection. However, it has been found that “88% of marketers use content marketing but only 30% say they are doing it effectively”. It is utmost important to create effective content that keeps your customers engaged which is often achieved by Creative Content creation and development services.
b) CREATIVE AND CONTENT DEVELOPMENT SERVICES:
Quality content is driven by traits such as uniqueness, information-oriented, reader-friendliness, structured and free of errors.
“76% of marketers say they will develop more content this year than last year”.
Creativity serves to be the key element in quality and compelling content. Owing to this, companies have shifted their focus to creative content creation along with a boost in content development services.
c) WEB AND MOBILE APPLICATION SERVICES:
Technology has facilitated the penetration of the internet and accessibility to smart phones, allowing customers to have access to a staggering amount of online information. This has prompted a fundamental change in the way we access content and reach out to consumers especially with platforms like social media, email, SMS push and more. Therefore, web and mobile application services have got a vital position in changing marketing dynamics.
A survey suggests,
“People in the US spend 51% of their time on mobile media compared to 42% on desktops”.
Stage II: Execution
This stage of digital marketing has transformed tremendously. This serves to be the intermediate stage in marketing dynamics.
a) DATA PROFILE AND ENRICHMENT SERVICES:
Your content will be of no use if it is not deployed effectively.
“62% of marketers say they don’t have good infrastructure to collect the data they need nor the analysts to make sense of it”.
It is necessary to deploy your created content effectively with digital marketing techniques and tools. Data Profile and Enrichment Services help the clients enhance their data-driven marketing programs. They further help by adopting a multi-channel approach in extracting customer insights and market intelligence data with an aim to target accounts and individuals within those companies.
b) ACCOUNT-BASED MARKETING (ABM):
ABM deals with focusing on growing your current customer accounts and engaging with decision makers at specific target accounts. To be successful, account based marketing approaches require not just content marketing but customized marketing, not just demographic data but intent data, and not just commitment from your marketing team but participation from the sales team.
“84% of marketers believe that ABM provides significant benefits for retaining and expanding current client relationships”.
c) SEARCH MARKETING (SEO/SEM) SERVICES:
Search Engine Optimization (SEO) enhances the chances to reach your target audience. Search marketing services (SEM) can not only help in reaching your audience but also help in converting them into customers when they are searching for you. According to a survey, “81% of shoppers conduct online research before buying”. SEO and SEM services also improve your Search Engine Results Pages (SERP) rankings, and the overall online presence for your business.
Stage III: Integration
It serves to be the last but not the least stage of your marketing strategies.
a) LEAD GENERATION:
With the changing marketing dynamics lead generation methodology has also changed to a great extent. Today successful companies use demand generation services and data-driven approaches to capture quality B2B marketing-qualified leads (MQLs) and sales-qualified leads (SQLs).
“61% of marketers cite generating high-quality leads as their biggest challenge”.
To overcome this, Demand and Lead generation include brand awareness, demand creation and lead generation of MQL and SQL ready leads to drive sales growth.
b) SOCIAL MEDIA MARKETING SERVICES:
With an increase in accessibility to smart phones, online presence of customers on social media platforms has increased extensively.
“83% of marketers indicate that social media is important for their business”.
Using social media marketing services, you can ensure that your social media platforms are being optimized for the best use. It also offers data-driven social media management services for your client.
c) E-COMMERCE AND ONLINE RETAIL SERVICES:
Stepping into a store for buying something is a thing of the past. Changing marketing dynamics has changed the way we shop. Fast and secure e-commerce and online retail services help retailers match inventory to search intent, generate traffic to online stores, optimize conversion rates, and retarget prospects. “For every $1 online influenced by reviews, the offline impact is at least $4”.
Marketing dynamics will keep changing and it is only through adopting new strategies that we can cope with it. Because in the end, it’s always better to be a change-maker than to stay behind in a rat-race. 'BE THE CHANGE YOU SEEK’.