Marketing & PR Firms - Improvements in Marketing Industries
Saturday, November 23, 2013
As culture and society evolve, the marketing industry must change in order to stay relevant to consumers. Many changes that happen in the marketing industry are improvements. If the marketing industry can find ways to reach customers in a more effective way at a cheaper price, marketers and their clients both benefit.
Financial Improvements
Finances are an important but overlooked aspect of marketing. Though it may be convenient to define finance and marketing as two separate aspects of business, the fact is that pricing -- setting prices for goods and services -- is the domain of the marketer. The role of the marketer in improving finances is twofold: First, the marketer must minimize costs of marketing operations by advertising to the target market rather than wasting money advertising to everyone; second, the marketer must set prices for products and services that allow substantial sales while allowing substantial profit margins. Crowdsourcing has been a major financial improvement in marketing. With crowdsourcing sites, marketers can post a request for a logo or brand name on a website and dozens of pitches within a few weeks. After browsing several different pitches, the marketer pays for just one at an affordable rate.
Customer Relations Improvements
Companies must have the trust and respect of their customers to get repeat business. Slip-ups such as failing to return a customer's call can result in a business losing that customer. Getting a reputation for animal cruelty or racial prejudice can cause a business to lose business with large groups of customers. The marketing industry has made many improvements in customer relations in recent years. One major improvement has been the introduction of Customer Relationship Management, or CRM. Customer Relationship Management philosophy emphasizes long-term relationships between the business and customer. This implies a willingness on the part of the business to provide long-term product support at reasonable prices, including in-store product servicing, and customer service help lines so the customer gets to know the agent by name.
Technological Improvements
From TV advertisements to web-based keyword advertising, many technologically advanced media help marketers get the word out to the public. Technological improvements in marketing industries can make marketing simultaneously cheaper and more effective. In video advertising, the advent of digital video -- video that is instantly transferred to computer instead of film -- has made it cheaper to produce video advertisements, because digital files can be uploaded and modified using straightforward video editing tools. In online marketing, keyword-based search engine advertising has been one major improvement. It allows advertisements to be targeted at people who use search terms related to product or service being advertised, improving relevance.
Community Focus
When it comes to persuasion, a person's peer group may be more influential than anyone else. This insight has led to many improvements in marketing industries. Viral marketing has been one improvement in the sphere of social marketing. In viral marketing, marketers aim to influence people by getting word to spread through social channels. For example, a viral marketer might spread the word by posting clips from a movie on an Internet discussion forum, hoping to get board members to start discussing the film. Social media marketing has also been a major improvement. With social media sites, marketers can start fan pages and groups for their business products and services and invite millions of people all over the world to join or "like" them. Once people have joined, marketers can send mass promotional messages periodically.
Tags:
Marketing, Marketing amp; PR Firms
Financial Improvements
Finances are an important but overlooked aspect of marketing. Though it may be convenient to define finance and marketing as two separate aspects of business, the fact is that pricing -- setting prices for goods and services -- is the domain of the marketer. The role of the marketer in improving finances is twofold: First, the marketer must minimize costs of marketing operations by advertising to the target market rather than wasting money advertising to everyone; second, the marketer must set prices for products and services that allow substantial sales while allowing substantial profit margins. Crowdsourcing has been a major financial improvement in marketing. With crowdsourcing sites, marketers can post a request for a logo or brand name on a website and dozens of pitches within a few weeks. After browsing several different pitches, the marketer pays for just one at an affordable rate.
Customer Relations Improvements
Companies must have the trust and respect of their customers to get repeat business. Slip-ups such as failing to return a customer's call can result in a business losing that customer. Getting a reputation for animal cruelty or racial prejudice can cause a business to lose business with large groups of customers. The marketing industry has made many improvements in customer relations in recent years. One major improvement has been the introduction of Customer Relationship Management, or CRM. Customer Relationship Management philosophy emphasizes long-term relationships between the business and customer. This implies a willingness on the part of the business to provide long-term product support at reasonable prices, including in-store product servicing, and customer service help lines so the customer gets to know the agent by name.
Technological Improvements
From TV advertisements to web-based keyword advertising, many technologically advanced media help marketers get the word out to the public. Technological improvements in marketing industries can make marketing simultaneously cheaper and more effective. In video advertising, the advent of digital video -- video that is instantly transferred to computer instead of film -- has made it cheaper to produce video advertisements, because digital files can be uploaded and modified using straightforward video editing tools. In online marketing, keyword-based search engine advertising has been one major improvement. It allows advertisements to be targeted at people who use search terms related to product or service being advertised, improving relevance.
Community Focus
When it comes to persuasion, a person's peer group may be more influential than anyone else. This insight has led to many improvements in marketing industries. Viral marketing has been one improvement in the sphere of social marketing. In viral marketing, marketers aim to influence people by getting word to spread through social channels. For example, a viral marketer might spread the word by posting clips from a movie on an Internet discussion forum, hoping to get board members to start discussing the film. Social media marketing has also been a major improvement. With social media sites, marketers can start fan pages and groups for their business products and services and invite millions of people all over the world to join or "like" them. Once people have joined, marketers can send mass promotional messages periodically.
