Marketing has changed — and if your marketing strategy hasn't changed with it, you may be soon eclipsed by your competition. Traditional methods of marketing no longer hold as much sway on the average consumer, who spends most of their time on mobile devices where it is easy to identify (and ignore) advertising messages. To update your marketing strategy, here's what you need to know.
Traditional Marketing vs. Digital Marketing
Conventional marketing is beholden to the 4 Ps: product, price, promotion, and place. In traditional marketing, print advertisements, physical mailers, and television and radio commercials were used to build interest in a product or service. Customers were educated about the products and services available and would remember this marketing when they were in the market for this type of product.
Traditional marketing is falling by the wayside, as few people opt to engage with commercials. Cable is being cut in favor of ad-less streaming services and customers are often paying for radio free of ads. Mailers are thrown away, and print advertisements are ignored completely as newspapers and magazines fall out of favor.
Digital marketing is becoming the more popular way of advertising, as digital marketing can reach through the websites, social media accounts, and email addresses that consumers use every day. This is the environment customers are now in.
Modernizing Your Market Strategy
The first thing to understand is that the web is now mobile. The mobile segment of the market is growing steadily, which means that your business has to advertise to a mobile audience if it wants to remain modern. Not only does your company's website and advertising have to be responsive cross-platform, but you also need to consider the growing ways that the mobile market is interacting with the web.
Modern apps "cull" the internet for users, filtering down to the products that they're interested in. The Google search engine shows Google places or Google shopping results, depending on whether the customer appears to be looking for a product or a service. Many phones will also broadcast the user's location, which means they can pare down to the results in their area. These things have implications for businesses, as it means they need to geo-target appropriately.
Protecting Your Reputation in an Online World
Nothing can ever be erased from the internet. When something is online, it's online forever. Due to this, companies need to aggressively protect their reputation. Online reviews will be one of the first things your customers look for.
You can't get rid of bad reviews, but you can respond to them promptly and professionally. The better your response, the better your company looks. And while you can't get rid of negative information, you can "drown" it under positive information. The more positive information there is about your company, the better.
A new marketing strategy isn't optional for businesses that want to remain competitive. However, with changes happening so quickly, it can be difficult to keep track and evolve. However, it's important to understand that print marketing is still relevant to many people and businesses. Contact us at The Redirections Group today to learn how we can create signage for your business.