By Caroline A. Berryman, CMMP — Editor-in-Chief
Working in marketing is becoming one of the most challenging jobs. Not only do we as marketers need to be creative and have a mind for analytics, but we also have to be up-to-date with the constantly evolving marketing landscape.
It’s no longer about the four Ps in marketing, otherwise known as product, price, place and promotion. The digital tools are changing at a fast pace and if marketers don’t follow these trends, marketing plans will fail. Instead of the four Ps we have a different approach to targeting our customers which is engagement, experience, exclusivity and emotion; the four Es of marketing.
Consumers buy experiences and emotions and emotional branding is what makes a business stand out. The most successful brands don’t offer material products or services, but real experiences and emotions. Disneyland and Coke sell happiness, Adidas and Nike give you the courage to follow your dreams and L’Oréal sells beauty. Consumers need something that will give them added value. Brands should improve our lives, contribute to local and international communities and respond to our needs. Marketers have to capture this in their marketing plans with strategies and tactics that are measurable and responsive.
Mass marketing used to work very well in the past and it was relatively simple, as long as you had big budgets. We can gather basic information about users and target our messages to audiences with similar interests, demographics and habits. This data lets us collect detailed information about consumer behaviour, their preferences and interests. We can leverage it to create personalized marketing messages to individuals and use marketing budgets more strategically. If you want to really differentiate your brand among others and increase consumer loyalty, you need to take it a step further. Today’s consumers want individual service and they appreciate when a brand goes that extra mile with their customer service. This not only builds strong relationships with them, but it also keeps them.
The real engagement will not come from a contest on social media. Your followers might increase, but will leave if you don’t engage them on an emotional level. Bloggers and other influencers have the power to shape consumer opinions. Consumers see influencers as genuine and trustworthy, so consumers listen to what they say.
More brands have started to appreciate the power of working with influencers and more often engage opinion leaders in their campaigns and general marketing communications. When deciding to work with influencers, it is important to ensure they resonate with your brand and your audience.
Marketers must adapt to constant changes, especially with social media. If you want to stay on top of things you need to adapt to new technologies and follow your target audience on platforms they use. A few years ago Snapchat had low awareness but today it is one of the most popular platforms. Brands such as Audi have used Snap Chat to engage future buyers. Even government agencies are recognizing the power of Snap Chat with younger demographics and it is currently being used to reach this audience with important messages about COVID-19.
Marketers must continue to evolve and adapt to changing technologies that resonate with their audiences, provide measurements for success and build loyalty.