Forget the car salesmen tactics because things have changed within the industry that will significantly improve your business as a marketer; as long as you’re utilizing the newfound information, that is. Previously, marketing tactics have continued to be fairly straight forward for years, but with the modern world of technology quickly taking over every industry, things have now drastically changed. In fact, modern marketing doesn’t really have too much to do with the traditional ways. The practices are completely innovative, revitalized and enthused with technological practices that were rarely, if ever, used before. While some choose to stick with the traditional, immature marketing route, one must first know that adapting to the maturer change can bring a compelling increase in revenue as well as much more. Whether you’re a company looking for a marketing guru, or a marketer yourself, it’s time to get modernized.
What is Modern Marketing?
Data drives success in today’s world of business. With every click reported, link added, keyword text used and photos implemented into your company, you are utilizing modern marketing. As such, many of the core marketing tactics such as data management, analytics and targeting have been revitalized to fit the technological changes. Everything is tracked and sent back to the company, and as a result, they are then able to analyze the statistics to narrow in on key factors that will improve the business overall, such as targeting audience, search words and devices used to access your information. Now, business strategy experience and traditional marketing brand management still remain at the top of the list for being two of the most important business tactics, but data analysis takes a close third. However, data analysis is a key component in the first two mentioned, and for this sole reason, one might say that it deserves the number one spot. Regardless, all are vital in modern marketing, as.
The Results from Modern Marketing
With all of that said, you may be wondering what you can expect with the changes of modern marketing. By hiring or being a mature modern marketer, you’re able to certainly improve revenue growth, and this is accomplished in a variety of ways. The majority of companies who took on modern markers said that they received an impressive marketing share and approximately half also said that they enjoyed the leading position. In regards to the workplace, approximately 1/4th modern marketers received national recognition as one of the best places to work. This is certainly exposure that comes with exponential benefits on all sides. As for the targeting and customer understanding, more than half of the companies used data analytics to gather techniques to find their major audience. The most astonishing number is that more than 3/4th of the companies utilizing modern marketing tactics agreed that by finding their newfound targeted audience, they were able to address specific situations, audiences, and needs were met accordingly which definitely results in a much higher customer appreciation as well. When it came to adjusting to the tools of today’s style of marketing, more than half successfully combined their data management.
Is the Additional Work Worth It?
If you don’t have the answer to that already by reading the previous statistics, then yes, the additional work is certainly worth it. While the benefits are obvious, marketers who transitioned to more modern marketing practices, specific to targeting, conversation, data and engagement, saw positive business results. Increased sales were one of the primary benefits, and streamlined profitability closely followed. So, not only did these companies receive higher sales, but they also achieved consistent growth by utilizing mature marketing as they were able to better focus on strategies that worked specifically for their audience and niche. All of this was determined by utilizing data analytics.
Modern marketing does take more time to implement, but the potential and growth that follows is worth the time. The old ways of marketing just aren’t cutting it in this world of technology. Now, instead of thinking that you know your audience, or what they want; you can utilize modern marketing strategies and allow the tools to show you exactly what you need to know to further your business as a whole.
Statistics based from Eloqua’s Research.