Information technology means that consumers have a huge amount of information at their fingertips.
In fact, it’s been estimated that a week’s worth of the New York Times has more information than people were exposed to in their lifetime in the 18th Century!
This means that traditional marketing needs to evolve to keep up with fundamental changes in consumer behaviours.
Here are some reasons for traditional marketing to evolve:
- Consumers have changed the way they research and buy products. We now search for products and services via search engines, social media and referrals. It’s important to bear in mind what other customers say about your product/service.
- Consumers have more control over what information they receive. Who watches TV adverts these days? Technologies like PVR’s and Netflix means that people can skip adverts altogether.
- Social Media gives an insight into customer behaviour and trends. Businesses can capitalise on this information and also use social media to increase their online brand visibility.
- Inbound marketing is efficient and less costly. Digital advertising can be targeted to potential customers where the focus is more on customer loyalty and two-way interaction.
So think… is your marketing keeping up with the times?