MARKETING MILEAGE FOR 2014

Abstract:

setting the business world abuzz, these trends of 2014 are set to elevate the art of marketing to newer heights

Main Article:

Marketing is the lifeline of any business. Though commerce has witnessed the concept of marketing evolving over the age, its relevance stays undeterred till date. Business connoisseurs have always banked on wise marketing, stating that a successful marketing strategy can make or break a product’s stance in the market. With each passing year, the trends and patterns of marketing has evolved along with swelling global demands. Marketing narratives have been rewritten and improvised with each passing year. 2014, being a promising economical years many giant players in the market here are the latest marketing trends that every b-school student must be aware of :

It’s all about the content

Content is king this year. Getting the right word out, at the right time and through the right channel is key. Online avenues such as blogs, social networks and websites are known to generate a whopping 67 per cent of leads for many big businesses from the international arena. This mode of marketing is essential in particular for social media B2B (business to business) companies. With a major chunk of our present generation reliant and well versed with the Internet – the online medium is the biggest customer bank for any business. Tools such as Digital Platform GPS will maximize the placement and aids businesses to differentiate between media especially when it comes to contextual relevance.

Once pressing content is figured out the next crucial step is to correctly categorize content. Brands have to be particular in strategizing the execution of their content. In order to capture the attention of smarter and high-end intellectual customers, marketers will have to pay attention to specific category values.

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Picking a marketing strategy based on the category your product falls under will help leverage the brand value and capture the right target audience.

Brands to get emotional and targeting to get personal!

The value that attaches a customer to a particular business or brand is going to become emotionally driven. As market awareness and maturity heightens the brand decision process among consumers wills start involving emotions along with rationality and loyalty. In order to be successful, brands will have to identify the emotional values that should cater to in order to channelize their marketing strategy accordingly. This deviation in marketing tactic will require businesses to come up with sentimental outreach strategy. Also, engaging one’s emotions will require the understanding personal needs. In a time and day were personalized services and customized branding has become the order of business the need to satisfy personal craving of the customer has become essential. Placing or presenting the product by personalizing content will have more customers flocking towards your business. Marketing outreach strategies that involve an inter-personal experience will mark brands more relatable to the target audience.

The apt engagement

Mode of marketing is being revolutionized and while direct marketing was the norm for a long time, a newer concept of engagement is slowly flooding the market. Unlike earlier when a brand loyalist was gauged based on the money spent and product consumption, the latest idea now is to cash in on their influence on other prospective buyers.

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Businesses will now target customer not just for loyalty but also for their capacity to influence and attract more consumers. Engaging in indirect sales and marketing techniques will be the key. A brand loyalist can be engaged to promote a particular brand or product if they become supportive of philanthropically relevant efforts, social initiatives and non-sales related endeavors of an enterprise. Turning customers into advocates of a particular brand can prove to be one of the most efficient channel of marketing. With social media available to almost everyone now a days, engaging a customer’s attention can be as effective as a television or a print advertisement.

Being at the right place at the right time

 

Location specific marketing is fairly new concept. Example of this trend is the presence of mobile apps such as Fourspuare, Path and Ban.Jo. The idea is to us the GPS technology send a tailored multimedia content to a customer’s mobile device at the specific geographical location. Stemming from the idea of inter-personal marketing, this is one of the most promising and sought after trend in marketing this year. Being a generation that cannot function without mobile phones and digital gizmos, location based marketing can be greatly exploited. With online businesses picking up and apps like Google Wallet being perfected, the capacity of people to buy and pay via their mobile phones will increase leaps and bounds. Advertising on popular social networks like Facebook, Pinterest and Twitter will also gain momentum. In retrospect, paid online advertisement will face an upward thrust as more and more marketers scramble to seen, read and heard.

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Digitally crisp

As the arena of online marketing expands, the need for digital diversification will arise. Once the channel of online marketing is chosen with respect to the product, the emphasis should lie on optimizing the allotted cyber space in the most efficient manner possible. Streamlining content based on the needs and expectation of the customer will increase the efficiency of this marketing tool. Which reaching the customer through a digital medium the idea should be keep the message simple and crisp. People have fleeting online memory, being an already crowded space; Internet has to be used wisely. More visuals and lesser text can guarantee more visibility. Being visually literate customers, the best means will be to engage them with a powerful image. Tedious text can be time consuming and even confusing to some extent.

Thus virtual marketing campaigns should target towards generally visual content. Data aggregation for digital as well as traditional will be deemed to become more intertwined and streamlined in general. This would allow marketers to point their potential customers out. So, the bottomline is, when online – the mode of marketing should be visually attractive and precisely crisp.

BUDDING MANAGERS
SEPTEMBER 2014 ISSUE


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Author:  buddingmanagers
Posted On:  Tuesday, 23 September, 2014 - 10:38

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