Contemporary Marketing: The Shift from Traditional to Digital
Contemporary Marketing: The Shift from Traditional to Digital
The classic world of marketing has been outdated for at least ten years, and has changed the way we approach marketing.
Classic marketing was traditionally based on the following four points:
· Product
· Distribution
· Price
· Promotion
Companies traditionally worked to research and produce a product or service, then they built a communication strategy adapted to the reference market.
Strategies were created based on the above four vital points.
While these traditional marketing methods were typically successfully in the pre-internet era, modern marketing approaches have been significantly disrupted by digital giants such as Google, Facebook, Amazon, and of course the World Wide Web in its glorious magnanimity.
Shift from product marketing to value marketing
Traditional marketing was all about creating a product, pricing it, choosing distribution channels, and running advertising campaigns to reach the consumer.
The consumer could be reached by television, radio and print advertising, and was a completely passive subject to the companies and brands that were offered in the market.
The goal of classic marketing was immediate profit through the sale of the product or service offered.
However, unlike modern marketing, it was (and still is!) expensive, particularly in terms of production and then media buy.
What’s more, it can be difficult to measure when compared with digital marketing, and even though there are services to estimate TV viewership and billboard drive-bys, these are still estimates.
Further, traditional marketing can take longer to executive when compared with refined digital marketing campaigns, as rounds of edits are needed, while once the ad is done, you can’t go back to change colours, fonts and so on.
To contrast, digital advertising offers so much freedom and flexibility when it comes to testing and editing. Also, the benefits aren’t only immediate, but also have medium and long-term consequences.
Finally, traditional marketing cannot target unique audiences on the deep level that digital marketing can.
Billions of people across the globe using the internet on a daily basis, while digital marketing can make use of digital targeting and segmentation.
Also, the implementation of social media platforms has changed the way that businesses operate, as these platforms have increasingly become channels for business, branding and advertising.
As you can see, the role of consumers is changing: consumers have become active players in the decision-making process and the choice of products.
At the sales level, a fundamental shift has occurred: from the purchase of the product, we have moved on to offering experiences. Brands no longer simply offer their products or services, but an experience. Today’s companies must therefore position themselves as brands with values, philosophy and personality.
Values Marketing
A brand must define its raison d'être, its mission, its objectives and its values.
The consumer becomes a communicative exchange partner with the brand and must share his or her vision of the world.
Values-based marketing requires brands to clearly define themselves, take a stand on issues, communicate and act as people. Through social media, brands create connections and dialogues by constantly communicating with people.
They must also hold people accountable for their decisions, their ideas and their view of the world, society and the way in which they actively contribute to it.
The contemporary world of marketing is for people, their thoughts and their value systems. It is no longer enough to be present on the web and on social networks, which are still marketing tools.
Communication must take place at a deeper level – a level of relationships and trust. Consumers must feel that they are part of a group which corresponds to their system of values and their meaning of life.
It’s essential for businesses to learn new things and devote new resources to exploring the latest strategies and technologies, particularly as technology continues to evolve at such a rapid pace.
However, bear in mind that every business will have specific platforms and methods that work best for them – you don’t need to be on every social media app out there and you don’t need to be using every digital platform available to be a success. Strive to strike the right marketing balance for your specific business and brand, bearing in mind your past success rates, your target audience, your budget and overall marketing goals.
Need some help navigating the complex world of digital marketing? Look no further than EWM.
Our Geneva-based agency offers 360-degree solutions based on your unique business needs. We combine technology with what is desirable from a human point of view. Our smart solutions generate impressive results, including brand loyalty, competitive edge and positive ROI.
Contact EWM today to discuss your objectives with a member of our team.