Marketing has one primary function: generate leads that turn into sales. Every marketing activity, even those designated specifically for branding, have this end-goal in mind. Just ask the CEO or CFO of any company — they want each marketing dollar spent to translate into multiple dollars walking in the door.
The evolution of marketing has quickened in the last few years, and many businesses finally realize they must adapt to survive and thrive. As technology and communications advance, allowing instantaneous sharing between brands and end-users, “old school" marketing tactics are quickly becoming outdated and less effective.
What’s causing the evolution? We can blame it on our good friend, the Internet, and his little but powerful brother, social media. The Internet has empowered buyers like never before. They have access to all kinds of information at the click of a button, and social media allows people to connect over common interests and experiences without the limitations of geography.
As a result, buyers are beginning the buying process long before they are ready to hand over cash. They are gathering information the moment they think they may want to make a purchase, and even more importantly, they are reaching out to their social networks to ask for referrals and testimonials.
Once buyers identify a service or product they want to purchase, they do extensive research on the providing company. Scouring forums and review sites, consulting with their online networks, and “cyber-stalking" the company are just a few of the ways buyers research their potential providers. And in the end, they buy from the brand they like and trust the most.
What does that mean for you as a product or service provider? You have to evolve your marketing strategy. You have to think about what the buyers need the moment they consider making a purchase and offer it to them in a non-salesy, easy-to-digest format. And you have to ensure your online presence is likable and trustworthy.
Below are some ways to help you identify where you are in your own marketing evolution, as well as some tips on how to further evolve your marketing strategies.
The “Old School" Way
- Focuses primarily on those who are ready to buy NOW
- Uses enticing promotions and high-pressure sales techniques with short deadlines to get people to ACT NOW
- Provides little value up front; focuses on the short-term
- Writes marketing messages that say, “Look how awesome our product is! Buy it now! Because really, it’s awesome — trust us."
- May employ social media outlets, but the only topic of conversation is your company, your products, or you. You do very little engaging with others.
- Relies almost entirely on traditional marketing campaigns (mass media, direct mail, cold calling) to generate leads
