The landscape of modern marketing is changing at an unprecedented pace. One of the most obvious causes of these rapid changes in marketing is the similarly fast pace of technological innovation. New updates and more advanced iterations of current devices are churned out every year. These developments in turn affect how customers receive information and what they expect from businesses.
For your business to succeed and stay ahead of the competition, you need to be aware of these shifts in marketing practices. Here are five modern marketing techniques you should know and consider if you plan to succeed in your field:
Gone are the days when companies dictated what customers want. Today, the most successful businesses take the time to find out what their target markets are looking for and provide it to them on a silver platter. According to research, organizations that use data-driven marketing techniques are 23 times more likely to get new customers. This influx in customers also leads to these businesses being more profitable.
The key to this approach is gathering reliable insights into different fields around your business. Look into how your customers receive information, their purchasing priorities, or their preferred payment methods. Every bit of insight will allow you to craft the ideal marketing strategy for your customers, making it more effective in reaching out.
Leveraging Digital Technology
It would be incredibly remiss if you don’t take advantage of the various digital advances available to your business. The new era of increasing connectivity and the widespread use of mobile internet-capable devices like smartphones and tablets offers your business interesting marketing opportunities.
For example, virtual CMO services let you bring on reliable, part-time executive to handle your business marketing strategies. E-mail marketing lets you craft personalized messages that you can use to spread information or collect customer data. Watch out for all advances in communication technology. Doing so could give you an edge when coming up with an innovative marketing method.
Customers prefer a personalized approach to marketing. It makes them feel like they’re the most important person at the moment and makes them feel appreciated by your business. This is why there’s a current interest in conversational marketing.
This revolves around engaging your customers not through one-way communications like posts but starting a conversation with them. You can do this through a variety of means, but the most effective methods are live-chats with employees or chat-bots with a wide variety of predetermined responses.
Leaning Towards Video
Humans are naturally drawn to images more than texts and modern marketing techniques address this by leaning towards video. A stunning 92% of marketers profess that videos are an important component of their marketing strategies.
Your customers’ fascination with video could stem from how easy it is to digest information from them. There’s also the fact that they can share funny or thought-provoking videos on their social media accounts. Incorporating videos that are informative or showcase your product in an inventive and engaging way could be your key to going viral.
By their nature, trends are ephemeral. But while they persist, marketing trends have the power to make or break a business. Keep this in mind and pay attention to current marketing methods if you want to stay on top.