Modern Marketing – How it’s changed

In today’s constantly-connected world, it can be difficult to remember that just a few short decades ago, there weren’t that many ways for businesses to market their goods and services. The marketing industry changes every day, and mobile technology is responsible for most of those changes. In this article, you will learn how marketing has changed, and how companies are using less-conventional methods to keep up with those changes.

It used to be the case that business owners could benefit by attending local civic functions, where people would get together for dinner, drinks and mingling. Social networking has evolved into a very important marketing tool; instead of putting in an appearance at a grand opening, the owner of a modern business would be better off posting a profile on sites like LinkedIn, Twitter, and Facebook. The rules on interacting with potential customers haven’t changed much, but business owners need to find ways to develop relationships without the face-to-face contact of years gone by. To do so, you should be respectful in tone, and curb any pushy or aggressive sales pitches- most Internet users know them when they see them.

In the not too distant past, companies used newspapers, coupons and magazines to offer discounts. These days, they’re spreading the word on special offers with voice broadcasting, social media marketing, SMS marketing and smartphone apps. With a smartphone, a customer can virtually “check in” to a business; when they do so, that business is marketed to everyone who’s connected to that particular user.

Another way modern companies are marketing to smartphone users is with coupon apps. These apps are simple to implement, but they provide great results; some apps offer printable coupons, while others are redeemed by showing the device to customer service staff. Another way that businesses get special offers out to their smartphone-toting users is with QR (quick response) readers, which let users take a photo of a QR code, and in turn be directed to the site where the offer is held. Coupons remain a viable form of advertising, and taking them “mobile” has allowed companies to reach many more customers.

All of the above marketing methods are meant to increase revenue for business owners and ad agencies, but mobile technology is helping the ad industry in another way: businesses gain instant customer feedback when they find out just how many people have “checked in” or downloaded an app. This level of tracking allows business owners to quickly find out what marketing methods work, and which are less effective.

Times may have changed, but most of the principles are still relevant. Marketing is a very important part of your business model- after all, no one would buy your product if they didn’t know it existed! With the advent of digital video recorders, more and more potential customers are skipping over advertisements, and they are also viewing and listening to media through their mobile devices. The marketing industry has changed to meet new challenges, where other industries have fallen behind.

About the Author

This article was written by Amy Fowler on behalf of Collstream, suppliers of SMS marketing and voice broadcasting services. To see more about Collstream and find out more about SMS marketing and voice broadcasting please click here.

Photo: Si1very

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To achieve better sales and profits, most companies could be doing more to cultivate business from their existing customers. However, enthusiasm for customer-retaining strategies must not endanger sound customer-getting efforts. How companies balance the two is the big question. To intensify reaching old customers while still seeking new ones, for many firms, will mean changes in market analysis, planning systems, management incentives, and marketing and/or operations organization. In the rush toward growth, consumer marketers have tended to regard success as stemming from obtaining new customers while unwittingly minimizing the importance of satisfying old ones. It is time for more companies to distinguish between their getting and retaining functions, to assess the balance between them, and to remedy any deficiencies in customer retention. This process requires management to value the potential of current customers and to treat them in special ways to get them to keep coming back. Several major elements should be part of the new marketing mix for customer retention: Product extras Keeping customers frequently requires giving them more than the basic product that initially attracted them. Product extras for individual customers over time can play a sales-expansive role. Reinforcing promotions Product promotion works better when aimed at existing customers. If a marketer knows who these customers are, benefits can be obtained by giving them reinforcing communications. Sales force connections The sales force can play a decisive role in the customer-retention function. At a retail or service counter the salesperson is the focal point of the company's strategy and is the firm to the customer. Post-purchase communication A company must anticipate that some customers will encounter either minor or serious problems after purchasing. If the firm is not ready to hear and correct these difficulties, the customer may not repurchase or may cancel the the relationship. Whether company or customer is at fault, standby post-purchase activities can be instrumental in saving these customers.

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