The New 5 Ps of Marketing that define new age marketing strategy With its power to predict consumers’ behavior, AI will support marketers to implement targeted marketing strategies with real-time analytics. With data driven decision-making, AI-powered marketing is leveraging the huge amount of consumer data that is being generated on a daily basis to derive powerful insights from them. So, here the reach doesn’t depend only on the budget but on many other factors – primary being the content.ĭigital marketing has demonstrated improved ROI over traditional marketing in most cases, but intervention of technology in marketing has opened up a host of benefits and its implementation has picked up rapidly. With the power of social media, digital marketing has the power to make the content go viral and reach more audiences. Unlike the traditional marketing, content in Digital marketing can be quickly altered and adapted which was a major drawback in traditional marketing. With its advanced segmentation, it helped marketers reach targeted audiences through multiple channels across different stages of the sales funnel using the right mix of channel and content strategy. Since 2000, digital marketing has been driving businesses as it is more persona driven and is cost effective. Moreover, the reach of a campaign used to depend on the marketing budget and there was no way for a marketer to measure its actual impact and/or generate leads. The high expense was a major deterrent in limiting its use for branding and advertising. Marketing was highly traditional until the 2000s and was confined to the use of mass media to a great extent. How marketing trends have evolved with technology Let’s get started by understanding how marketing has become more prospect focused and ROI-oriented as it embraces technology in every stage of its evolution. Transformation of data into meaningful insights is crucial for decision making in Marketing. Today, every enterprise leverages technology-driven marketing to reach where the customers are! The traditional marketing-mix that centered around product, price, place, people and promotion or the 5Ps needs a complete re-conceptualization as we look back at the evolution of marketing over the last five decades.
Marketing has transformed beyond imagination with implementation of smart technology.
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