Marketing in The New Age
“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” – Steve Jobs 1998.
Value Based Marketing in New Age
Marketing in this new age is not just selling what we have by showcasing the product or service description instead it is all about how much value we are delivering to our end customers. So for efficiently delivering the values required for the customers it is necessary that we conduct a 360 degree analysis of our end customers and deliver our product or service accordingly. Giving importance to values over features has become a necessity. Customers are concerned about what value that the product or service brings to their lives rather than what features it has, it is all about delivering best value for the customers. For instance if you have a particular product, why should a customer buy your product when there are n number of alternatives available in the market? Yes there are ‘n’ number of products available in the market, customers won’t buy unless you have a specific USP that makes you stand out from your competitors. Diving deeper into new age marketing it is more about personalization – customers tend to opt personalized products or services over generic ones.
What marketing really includes?
There are certain misconceptions about marketing in this era. One of them is that marketing equals sales or marketing is all about sales. While sales is a crucial part of marketing,as it is a piece of cake in the bigger picture. Marketing activity starts from making a customer aware about a product or service and making a customer loyal so that the customer will not switch to its competitors and become a loyal customer. It is about building trust and making them your loyal advocates.
New age marketing includes:
- Market research
- Branding and positioning
- Storytelling
- Digital Marketing including: Social Media Management, Paid campaigns, SEO.
- Loyalty and Retention Programs.
- PR campaigns.
- Marketing Analytics with Customer Insights.
In conclusion, a marketing journey starts from creating awareness to building loyalty and advocacy. It is not just about driving sales but about building trust and delivering consistent value to the end customers that makes them connected with the brand for a longer period. Businesses that follow a holistic approach will not just grow , but will attain long term success.