Changing face of Marketing
Marketing as we know is coming to an end. However, it is no less important than it used to be. The basic tenets of great story telling and customer engagement are becoming more specific and exciting.
New marketing channels are being added and the distinction between above the line (ATL) and below the line (BTL) marketing is blurring with virtual product launches and virtual client engagement.
The adoption of analytics has made marketing more scientific. However, the usage of data has not led to dumbing down of the creative aspect of marketing. There is always a "Dear Sophie" campaign to warm the cockles of hearts and bring in brand awareness and brand adherence.
The content marketing has evolved. Content marketers are drawing and developing larger story that an organization tells in a more creative way. They focus on ways to engage an audience, using content to drive profitable behaviours.
The importance of content and creativity can be gauged from the fact that recently, Hindustan Unilever (HUL) has partnered with over a dozen content creators — from Star Network and Yash Raj Films to Google and Facebook — to produce content across channels where HUL brands can participate, perhaps subtly, as part of the conversation.
The impact is not only on the way the marketing is done but it is resulting in a more holistic transformation of how an organization aligns to a more dynamic business environment. Digital economy as we see today is marked by vigorous changes in consumer preferences, market trends and product lifecycle. This requires a nimble organization that can respond to changing scenario swiftly and effectively.
Marketing as we know is coming to an end. However, it is no less important than it used to be. The basic tenets of great story telling and customer engagement are becoming more specific and exciting.
New marketing channels are being added and the distinction between above the line (ATL) and below the line (BTL) marketing is blurring with virtual product launches and virtual client engagement.
The adoption of analytics has made marketing more scientific. However, the usage of data has not led to dumbing down of the creative aspect of marketing. There is always a "Dear Sophie" campaign to warm the cockles of hearts and bring in brand awareness and brand adherence.
The content marketing has evolved. Content marketers are drawing and developing larger story that an organization tells in a more creative way. They focus on ways to engage an audience, using content to drive profitable behaviours.
The importance of content and creativity can be gauged from the fact that recently, Hindustan Unilever (HUL) has partnered with over a dozen content creators — from Star Network and Yash Raj Films to Google and Facebook — to produce content across channels where HUL brands can participate, perhaps subtly, as part of the conversation.
The impact is not only on the way the marketing is done but it is resulting in a more holistic transformation of how an organization aligns to a more dynamic business environment. Digital economy as we see today is marked by vigorous changes in consumer preferences, market trends and product lifecycle. This requires a nimble organization that can respond to changing scenario swiftly and effectively.
The marketing industry itself is now a more than trillion dollar
industry growing moderately at ~3.5% per year. However, there are pockets in the
industry which are showing tremendous growth in increasingly digital world today. For example, advertisers will spend US$64.25
billion worldwide on mobile advertisement in 2015, an increase of nearly 60%
over 2014. That figure will reach $158.55 billion by 2018, when mobile ads will
account for 22.3% of all advertising spending worldwide.
Overall, marketing is evolving and impacting the way an organization pursues it and also the models that they adopt to get the desired results. Also, the organization nimbleness is a pre-requisite to successfully transition to the digital tide that is sweeping across the globe.
Overall, marketing is evolving and impacting the way an organization pursues it and also the models that they adopt to get the desired results. Also, the organization nimbleness is a pre-requisite to successfully transition to the digital tide that is sweeping across the globe.
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