Marketing in a New Era
In the digital world, nothing stays the same for long. The same is true with the marketing industry in general. When you combine the two, you get a fast-paced environment that demands your attention and understanding.
By JORI HAMILTON
Marketing in the new era means brushing up on the changes and learning to make the most out of new opportunities. From advancing tech to post-pandemic job market shifts, understanding the new era is your starting point for advancing your business in a changing world.
Here’s what you should know.
How the Marketing World is Changing
Nothing has been quite the same since the COVID-19 pandemic swept through the economy. Since then, we’ve seen a rapid acceleration of remote work practices, aided by all kinds of technical innovations and cloud software systems. Virtually every industry has been transformed, and that means new considerations for marketers.
But the breadth of changes can be dizzying. To truly understand the new era of marketing, you need to break down the economic evolutions into more easily digestible parts. Technology and business practices are good places to start.
Technology
Tech defines the modern era of marketing. The information technology innovations of today give marketers an incredible range of tools and features to act on, allowing them to gain an upper hand over competitors through nuanced data collection practices.
These are some of the advancements to keep in mind:
— AI and machine learning capable of greater recognition and personalization.
— Cloud services for data collection, scalability, and lead generation.
— Widespread chatbot growth in the customer service sector.
— Natural Language Processing (NLP) capable of better voice search and command recognition.
— Prevalent smart devices on a 5G network.
Business Practices
Then, there is the transformation of business practices and consumer needs. Whether your business sells to everyday consumers or other businesses, here are the changes you should understand:
— Remote and hybrid work are here to stay.
— eCommerce is more popular than ever.
— Virtual entertainment and immersive user experiences are in.
— Freelancing and gig economy work have grown.
— More businesses are transitioning to digital models.
With these developments in mind, your marketing efforts should pivot accordingly. You need to meet your clients and customers where they are and appeal to their new challenges and lifestyles. Fortunately, there are plenty of ways you can make the most of these opportunities to market successfully in the new era.
Making the Most of New Opportunities
When streamlining your marketing endeavours for the new economy, you have to be aware of the best tools and strategies for success. These days, all marketing revolves around data, and your ability to collect and analyze customer information can make or break your efforts.
But your marketing strategies won’t end with data either. Increasingly, businesses are taking on freelancers to improve their marketing strategies while transitioning to the new era of sales and advertising. You need to understand the services offered by the gig economy and what prices are fair to pay.
Then, you’ll be better prepared to make the most of the new opportunities that surround you. Here are some tips for doing just that:
1 Explore new avenues for data collection.
2 Hire experts in data analysis or train your current workforce in better applying data.
3 Use or provide comprehensive software service platforms.
4 Make use of social media insights and affiliate marketing opportunities.
5 Become an expert at tech analysis.
With these strategies, you’ll be set up for success. Data can inform effective customer profiles that will help you hone and target your messaging. But you won’t be as effective as you could be without expert data analysis. Chief marketing officers should also make themselves experts in new technology, staying up to date on advancements if they hope to gain a competitive edge.
From here, your marketing strategies can better adapt to whatever comes in the future.
Future-Proofing Your Business
Scenario planning has become more of a focus for businesses in the wake of the COVID-19 pandemic. We all wish we’d planned for the pandemic disruptions. To succeed in the new era of marketing, you’ll need the tools and insights to plan for disruptions of every kind. This requires data and expertise.
Future-proof your business by understanding the market, then follow these strategies for greater success. While you won’t be able to see everything coming, the modern marketing world is more connected and informative than ever before. Use these insights to thrive in any economy.
Jori Hamilton is an experienced writer residing in the Northwestern U.S. She covers a wide range of topics but takes a particular interest in covering topics related to business productivity, marketing strategies, and startup efficiency. To learn more about Jori, you can follow her on Twitter: @HamiltonJori
