Marketing in Era 4.0
MARKETING IN ERA 4.0 MUST MEET 5 FOLLOWING CORE FACTORS BELOW
There are many definitions of marketing in the world but I think the best concept of marketing is the movement of the business to meet the demands of the market trends.
Nearly, Facebook has refreshed the advertisement market in this app. They found it better to block by mistake than miss any accounts. Hence, many “innocent” accounts also got a stick leading to a chaotic and stagnant advertising market on Facebook. Until now, there is no signal of recovery. Many businesses catch the marketing system paralysis because they have focused on Facebook only. When Facebook has problems, they are in a stalemate immediately. After this event, I think there will be new perspectives and new orientations for both businesses and marketers.
1. Platform – The Foundation to Marketing Management Strategy
The platforms are of importance to businesses when they start a marketing project. Thanks to the platform, operators can understand what benefits their marketing brings to the business, how long it happens (long-term or short-term). Every marketing activity affects the goal of businesses, therefore, marketing plans must be deprived of businesses strategy, and the platforms help operators observe and control the systems clearly and safely.
2. Ecosystem - The Nourishing Marketing Ecosystem
I have met many CEOs and presidents of SMEs who have applied marketing to their businesses for years. I realize a sad fact that most of them don’t know what marketing has done to the business and what they have. Different marketing platforms interconnect to create an ecosystem where all marketing platforms support and develop together. The development of an ecosystem is estimated via positive statistics from customers. The quality of the Ecosystem lies in the carefully tailored messages that touch consumers’ hearts. When the operators can control the ecosystems, they completely assure to give space for their staff to nurture and develop the ecosystem solidly.
3. Execution – quick and accurate execution
Action creates results. No matter how good the plan is, if it is not implemented, it is just an invalid plan on paper. However, taking action without a plan or goal, it’s also a big concern. If it fails, it is not surprising. But if it succeeds, there is a high possibility of failure. The reason for this success is from the external factors rather than from internal preparation. Therefore, in Marketing Era 4.0, we need to be quick and accurate in bot preparation and execution when the strategy and goal are set. Then, your business has a chance to compete with other competitors and get market share.
4. Creative – On-trend creation
Awareness – Understanding – Action – Analysis – Synthesis – Creation. According to the above order, marketers need to do many basic steps to create new things that are on-trend. Let’s take two English centers as an example. One of them teaches vocabulary through plain and boring sentences, whilst, the other makes videos with actual images, tones, and expressions in real circumstances so that the learners can memorize the vocabulary quickly. This is a typical example of marketing creation. With the same vocabulary, they have different ways to express it for different effects.
5. Legacy – Inheritance and Development
Businesses using marketing in-house or marketing agency usually catches an unsolvable issue is an inheritance. I knew a business that changed 12 marketing managers in one year while its website wasn’t completed yet. It’s such a record of human resources! If we do marketing in-house and a staff quits, who will continue and develop his tasks? What happens if the new handover receiver quits either? If we use an outsourcing agency when the contract expires, will the agency hand their works over? Or will businesses continue struggling to build marketing again and again? To solve this issue completely, businesses have to apply 5 core values above to create a stable marketing development that is easy to manage and able to grow in 5 years, 10 years, and beyond.
Saigon: Dec 10th, 2020
Copyright: Dien Tan Marketing