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The Evolution of Marketing

Technology has turned the world of business upside down, creating new platforms and destroying business models extant for centuries. The disruption has not spared any industry, forcing companies to adapt rapidly to a new environment dominated by the digital revolution. Technology has also advanced disintermediation, a fancy word meaning buyers and sellers connect directly, eliminating the middleman. Leading enterprises such as GE become dinosaurs overnight. Companies such as Space X are rapidly circling the entire globe with broadband to connect more than seven billion customers.

Small businesses are coming to understand that the technological revolution creates a relatively inexpensive way to market and develop not just clients but loyal fans through social media. They have the capacity to research not only new markets but also the competition, track analytics, hire employees, and connect with clients and consumers.

What hasn’t changed, however, are the basics of marketing: Product, price, promotions, and place. Success in today’s business ecosystem requires focusing on marketing fundamentals, understand the new technology options, and doing more than thinking out of the box. Companies need to be positive disruptors, which challenge conventional thinking and habits and create more effective models. That requires uprooting and changing how we think, behave, do business, learn, and conduct our daily operations.

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