The Changing Digital Landscape
How Marketing is Rapidly Changing
The role of marketing in any organization has changed dramatically, even since the dawn of the new century. Before most consumers had a computer in their pocket, traditional media was able to capture a segment of a population and sell effective advertising space, providing excellent results for any advertiser. Do you feel your target audience watches the nightly news? Broadcast TV ads are right for you. Are you a local pizza company wanting to promote a nightly special on deliveries to overworked moms and dads? Radio spots during rush hour are right for you. Factor in any other type of media, and it was relatively simple for a business owner to place ads and see the tangible benefit to increased revenue.
In many ways that changed on June 29, 2007 - the release of the first iPhone. Although not the first smartphone on the market (we’re looking at you Blackberry), it revolutionized how consumers interact with the internet, especially once 4G arrived on the scene. Now, consumers could find content in a far easier manner; want to know breaking news? Follow news sources on social media or check news sites. You no longer need to wait for the morning paper or the nightly news. This dramatically changed the marketing world as well, since consumers spent more time on their phones and less on traditional media. The decline of newspaper subscriptions, the rise in cord-cutters, and the rise of social media are all examples of how our world has quickly changed in a short period of time. Given that electricity is about 140 years old, the automobile is about 135 years old, and the radio only 135 years old, this represents a huge shift in technology in a short period of history.
Traditional media has been forced to evolve in light of declining subscriptions and viewers. As smartphones become more capable and faster, and as more consumers spend more time on their devices, opportunities exist for businesses to target potential customers in an affordable and efficient manner. Google now says that 80% of global internet traffic will be video by 2021, which creates another layer of content which businesses need. Traditional media still has value to advertisers, but the biggest growth is in the digital space.
These changes in the digital space equates to big changes in the marketing of any organization. Common marketing methods of even 5 years ago have changed dramatically in the digital space, and as smartphones advance, this pace will continue to accelerate. What does this mean for business owners? Take a hard look at your current marketing tactics to see how in line they are with the changes in marketing.
Marketing trends and tactics change quickly, and we’re here to help. Drop us a line today if you need some guilt-free encouragement.