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Marketing has changed drastically over the past few years with the rising customer expectations and the opportunities presented by digital technology. In fact, customer expectations and technologies have changed at such a rapid pace that marketing organizations are engaging in the quick adoption of new marketing skills to grow their businesses. Even though marketing is a dynamic segment, five major shifts redefine the modern marketing landscape. Let us learn more about it.
1. Personalized Consumer Interactions
Previously, targeted campaigns were vital to winning in a competitive market. However, it is no longer the case. In the modern marketing landscape, personalized consumer interaction is the USP of organizations that want to grow. It is why prominent companies like McD float out the McDVoice feedback form, which helps them provide personalized services to their customers.
Also, personalized consumer interaction allows businesses to create more positive customer engagement, resulting in a favorable customer experience. Some ways to provide customers with a personalized experience include getting local, tapping on customer data with feedback forms like KrogerFeedback, providing unique solutions and using technology to the company’s advantage.
2. Omni-Channel Sales Platforms
Gone are the days when selling a product or service on one platform was justified. In order to excel in the current competitive market, businesses must market their presence in numerous ways, including online and offline forms. The omnichannel approach is not limited to selling but has also extended to the marketing and service segments. For example, many companies now provide customer support through live chat, email, website bot, Twitter and phone.
Selling through omni-channel platforms has numerous benefits, such as greater customer reach, increased profits and better customer satisfaction. However, even though omnichannel commerce uses a multichannel approach, it differs from multichannel commerce because of the seamless experience that it guarantees.
3. Sales and Marketing Alignment
Sales and marketing no longer hold rigid boundaries for many organizations. Over the last few years, many firms have noticed the benefits of aligning sales and the marketing department. It is because when marketing strategies support sales activities, there are better chances for the companies to increase their revenue. Moreover, with the availability of lead nurturing tools, it has become crucial to integrate marketing content to reap the maximum benefit.
The combination of sales and marketing is now known as smarketing. According to many surveys, if firms engage in good smarketing, it has the potential to generate 208% more revenue with the marketing strategies alone. In addition, companies can benefit from this strategy by keeping an open communication channel between both departments.
4. Special Attention To Brand Reputation
Nowadays, customers have plenty of available options. Therefore, companies are using their marketing strategies to build a brand reputation. It is with the brand’s awareness and the customer’s trust that a company can create its brand. Moreover, the internet has made it possible for everyone to open a business online. In such a scenario, consumers have a tough time deciding the right company with whom they should engage. Hence, companies that manage to build brand reputation take the highest proportion of customers.
Firms can work on building their brand reputation with personalized customer experience, positive reviews, client testimonials and omnichannel presence.
5. Agile Marketing Management
A rigid marketing plan for a specific time frame is no longer an option for companies. This luxury is no longer viable as the market is changing almost daily. As a result, the marketing implementation cycles for businesses have considerably reduced. Even though a long-term strategic business vision is still necessary, the marketing strategies to meet the same are now short-term. Therefore, modern marketing management is highly fluid.
With the ever-growing importance of social media marketing, many businesses experience both opportunities and crises within hours. Therefore, one of the notable shifts in redefining the marketing landscape includes agile marketing management.
Data Is Still The King
Even though these shifts are redefining the landscape of modern marketing, data is still the king. Businesses use different digital technologies to collect data and use the same to gain meaningful insights. Previously, only big enterprises engaged in data collection and utilization. However, it is not the case anymore. With the easy accessibility to digital tools, even small businesses are capturing data to grow.
Finally, it is crucial for businesses to continuously evaluate the marketing strategies they are using to stay updated with the latest marketing trend, which can help grow their revenue.
