Everyone has a voice
Prior to new media evolution, people were extremely limited in interacting with each other and were restricted largely to people they knew in-person. Development of new media, especially the social media changes the way people engage, how they communicate and share ideas, entertain themselves, even down to the way they think. In a tremendously short period of time, new media have accelerated cultures and have transformed the way, in which people live, work and play. One of the biggest changes new media has influenced the approach that people interact is, that it allows information to move at a rapid pace. This has opened-up opportunities to share opinions with a far wider audience and get the message out to thousands or even millions of people uncensored. Thus, today people are inundated with a daily deluge of content and everyone can be a powerful source of influence. New media has empowered people to have a voice and a chance to be heard as much or as little as they want. Thus, it has significantly redefined relationships among people and has forever changed the way people do business.
Expectations of today's consumers have changed and they are no longer passive consumers. They expect to be respected rather than treated as sales leads and anticipate gratification when it comes to searching, finding, and having information. Hence, today, the world of consumers is different from its past era, which make past marketing tactics outdated and irrelevant. Marketing has become much more “conversational” in nature and has to be able to maintain direct communications, which is more responsive, efficient, resourceful and helpful. These changes are not evolutionary, but rather revolutionary. Businesses need to move in this direction, such as the way that businesses conduct commerce, handle consumer relations, and promote brand identity.
Marketing is concerned with comprehension individuals' inspirations and utilizing these experiences to create campaigns that advance brands and urge individuals to purchase their items. With the rapid advancements of technology, there is an opportunity for anyone to be a force of power through the use of new media. As indicated, a transformation of marketing is also underway as people spend more time on portable devices such as mobiles and laptops with an overwhelming torrent of information. Constant discussions, brands have with individuals as they interact with these portable devices have transmuted the way of marketing. What is more challenging is to connect with customers through all these new devices in real time and construct a campaign to reach a prospective as well as existing clients through new media. On the other hand, there is a tendency that, new technology will evolve momentarily as today’s technologies will soon be obsoleted.
Therefore, in the modern-day, not only marketing departments need to be combined with creativity, but also with digital engineering and analytics to tap into people’s desires with the technical side of data. The technology used to accomplish this, on the other hand, requires abilities in arithmetic, statistics and computing. Getting creative marketers to work alongside technical teams can be a huge challenge, as two zones do not always be seated easily together.
Meanwhile, new media and related technology have also greatly increased speed and relevance of marketing messages with increased reach of campaigns. Nowadays, marketing messages can be targeted with so many different ways that customers access media and also with a laser focus to exclusive clusters offering them with relevant content, constantly. This means, a strong idea can quickly gain a tremendous coverage instantly covering targeted audiences, whether through Pinterest, YouTube, Twitter, Facebook, news websites or via portable apps.
Further, instant consumer actions through social media referrals - such as ‘liking’ and ‘pinning’ on Facebook or Pinterest or Twitter, prove valuable communication tools for both brands and consumers alike. Consumer base will continue to grow on a daily basis, when a social media user has purchased an item online or in-store and after sharing it or marketing it as a favorite on Pinterest, or Facebook or Twitter. An added advantage to using social media for marketing is that a consumer base will become self-marketers for their own product or the brand without an effort. Therefore, it is best for companies to embrace new media and use it strategically to their gain in order to reap the many benefits that it has to offer rather than moving away from it.
As acknowledged before, real-time communication with various forms of social networks such as Twitter, Facebook or even email enables organizations to establish direct discussion with customers. This means, new media allows businesses and marketers to receive feedback about their marketing strategies almost-instantly and offers the ability for companies and clients to communicate with each other in real-time. Feedback within minutes is a definite improvement in customer relationship management as prior to new media, customers who wished to voice their opinion often had to wait days or weeks before receiving any response. Therefore, dynamic of the consumer-business relationship has changed from one-way communication to an active, real-time two-way discussion. However, sometimes, new media can also be a double-edged sword, where the brands involve in risky conversations or opinions, which are formed. Nonetheless, when these conversations are carried out strategically and thoughtfully, they open up important lines of communication with well-known critics and consumers. Real time feedback provides opportunities for companies to resolve customer complaints almost instantaneously. These strategic conversations might make extremely valuable tools for brands, where the opportunities overweigh the riskiness of conversations. Therefore, development of new media, requires companies to reform its behavior to fit with this new dynamic of personalization, as otherwise customers might just take their business to more personable competitors.
Pre new media era, only larger business were able to afford high-cost traditional forms of marketing such as Billboard, TV, Radio advertising, which gave them exceptional advantages over small business and act as a barrier to entry. As social media channels literally know no boundaries and provide a path to reach potentially huge audiences; increased usage of social media marketing has ensured that almost everyone who advertises online can now be heard. This means, there is an opportunity for businesses to build and grow brand awareness in a far more effective manner, or even to overtake larger competitors with ease. How old or new, how small or big, every business has an opportunity to have a voice in new media.
How new media changed Marketing’s 4Ps
Instant consumer action through new media ensures that the general public often has knowledge about products and companies. Hence, products have to deliver on their promises and must be talk-worthy. Delivering only functionality that meets consumers’ needs, providing value for money.
Real time communication with various forms of social networks and new media enhance price transparency across globe. As a result, business must price their offerings fairly and competitively across distribution channels as price could act as a barrier to entry for new competitors.
New media allow information to move at a rapid pace and the opportunity to share opinions with a far wider audience. When new media users purchase items online and share it or market it as a favorite, they will become self-marketers. Therefore, in addition to a retail establishment, it is best for business to have a presence across a broad array of new media, embrace it and use it strategically to their gain, in order to reap the many benefits that it has to offer. This includes business own web pages, third party social media sites such as Facebook, Pinterest or Twitter.
In modern day, while marketers create special deals around their offering, it’s consumers who spread the word about products’ performance and value. Today, promotion is about what makes the brand special so that consumers and the public want to associate with it. Marketing is driven by real-time conversation and needs to be integrated into every step of the purchase and post-purchase process. It requires consumer relationships that support and engage consumers constantly.
Analyzing target audiences
Unlike traditional marketing methods, new media related technology could gather a startling amount of customer data in ways that were never possible. These have also improved promptness and significance of marketing communications.
When consumers mark as “favorite” or “like” an offering or a product or even a business’s social media page and post comments, they stipulate vital intelligence. Businesses can obtain valuable data regarding consumer behaviors by analyzing consumer responses to their social media. This means, a robust idea can quickly gain a tremendous attention instantly covering targeted audiences through new media. Therefore, the key is studying and analyzing customer reviews, and responding by making the appropriate adjustments to business offerings.
Further, real time feedback allows businesses to respond to complaints and incidents quickly as possible, before they become a potential crisis. This helps to enrich their brand and reputation in the marketplace and to personally connect with consumers. If a product or a business is being “liked” by customers on new media, which is a level of endorsement and social marketing beyond anything seen in traditional marketing. Accordingly, target audience analysis is invaluable to any business as well as any brand as this forces business to reform their behavior to fit with this new dynamic of personalization.
A Narrowing of Niches
It was fairly common in traditional marketing, to develop advertisements that were impersonal in nature reaching the widest consumer base possible. There were no ways of identifying the suitability of particular groups of customers to any business demography beyond active research. As discussed, with new media development, customers tend to demand more and more personalized attention, which means businesses must realize that there is no one-size-fits-all solution. Especially in social media, customers have become ‘conversational’ in nature and made themselves available to vast stores of information about their interests based on their geography and demography. It is essential for advertisers to change their view of the customer base in social media towards a people-focused-arena. Niche marketing communications have become almost vital for a business to draw closer to its core audience through open discussion, media sharing and relationship nurturing. Therefore, when it comes to new media marketing campaigns, every single online communication must be unique to the audience as well as a business’s requirements.
If a company fails to appreciate this fact, their online approach is destined to fail. Social media platforms allow businesses to hyper-target the exact relevant audience they want to reach instead of buying an advertisement and hoping potential customers see it. Only by tailoring an online marketing campaign to the prospective audience, a business would be able to make the best advantage of these platforms. This creates opportunities for businesses to tailor message far more readily than was possible before.
The Social Media Revolution and More Marketing Freedom
As a low cost advertising platform compared to traditional marketing communications, new media provides even opportunities for new entrants to gain communication among audiences or get message out without paying cumbersome advertising fees. With social media such as Facebook, Pinterest, there is a noticeable reduction in businesses purchasing online banner advertisements as they can set up their own social media pages, saving thousands of dollars every year.
Frequent two-way discussions between a business and a customer; via social media get word out far more effectively than any other form of marketing communications. In the way, new media reaches and engages with customers has the potential to become an increasingly dynamic and active interconnection.
Time is money, is effort
Increased competition among business through social or new media has pressurized marketers to be increasingly more creative with content and information they share and the manner in which they share it among consumers. Creativity is the key coupled with a good sense of humor for any content going viral. In dealing with new media, unless content or information catches the eye of the targeted audience, time and money put on creating it will be a waste. This means freedom and power do come at cost in new media, demanding time, high creativity, money and hour upon hours of effort in marketing communications.
Changed the way language uses
Development of new media, especially social media opens doors for global platform for communication. With the immense number of cultures and languages, meeting at one place, people are all becoming engulfed in this new world of communication due to technology. In new social communication, writing is more summarized with abbreviations more prevalent and marketers are also forced to learn this new form of language in marketing communications.
Broken sales channel
The traditional liner path which procurement used to follow has instead been replaced by a complex, web interconnected click-troughs, information sharing, desires, brand awareness and user engagement. In modern day, consumers use the web as a place for research, information sharing or even as a marketing communication hub where they can interact with a customer representative, prior proceeding purchases.
From Ideas to Experiences
Traditional advertising was not targeted to hold the users attention, it was more into grabbing the user’s attention only. One aspect of new media, especially social media marketing is to look for opportunities to attract customers and holding it by cultivating more personal relationship through marketing communications. Advertising today is more into looking for the requirement, analyzing it and striving to meet it. Therefore, new media, marketing communication is about creating experiences and developing a positive reputation with consumers so that they’ll be potential repeat customers in the future. The process of marketing communication has hence transformed from one of philosophies into one of experiences, trying to foster a relationship with the customer.
Different expectations business
The rise of social media and the extent to which it is used in every-day, personal online-interactions, consumers have developed different expectations of businesses when it comes to how they are “treated” from a marketing perspective.
Brands must be willing to listen as well as talk, which helps to foster the feeling of conversation with the customer base and make the audience feel like they are being heard and acknowledged. Monitoring and responding to conversations is important to a business’s success with their social marketing campaign and can help to strengthen a variety of core business functions.
A business-wide effort
Today, the extent people spend on portable devices, means, if a business isn’t online, it isn’t advertising. An effective new media strategy should bring business closer to its core customers and others building its brand awareness. This means, nowadays marketers have to earn consumers’ trust and attention on new media. While marketers need to enhance their skills in order to make the most speedy and highly relevant campaigns via digital platforms, they also need to work closely with web developers, user experience experts, social media professionals and data scientists. To accommodate the new technologies that go hand-in-hand with new media, a business needss to align its departments creating a corporate identity that can be represented combining marketing and creativity with an understanding of real-time communications. This is a radical change from the way traditional marketing departments work, and is no longer being a task left solely to the marketing division. To succeed in new media, teams of multiple subject experts from relevant departments need to spread the responsibility of outreach amongst the team members, so that multiple service points and perspectives can be generated. Marketers need to be more knowledgeable about technology; the technically minded staffs on the digital side have to get more creative. Consequently, successful marketing communication is a business wide effort, which intimately engages a business and its brands to audience of current and potential customers. For example, to manage audience successfully, not only marketing professionals, but also social media experts need to stay engaged with them in real time through portable media devices like cell phones, tablets and laptops. The real time engagement promotes personal connection with the business as well as with its brands.
On the other hand, new forms of online information platforms and measurement tools have made it easier for business to analyze data and monitor effectiveness of new media marketing campaign and communications, which used to be more difficult to achieve with traditional marketing methods. Therefore real time marketing communication, increase transparencies in analyzing the return on investments in almost everything do with new media.
It is interesting fact to know, even when businesses are not in communication via new media, consumers, suppliers and competitors are communicating about the businesses and their brands. A vital quality in new media communication is curiosity - curious about various possibilities in marketing communications as tools and systems will be totally different from the ones using now. As information on new media is far reaching, vast and almost immediate, business need to understand and take necessary action on the impact it has to their reputation as well as the bottom line.
In new media era, businesses need to reshape its entire infrastructure, and rethink the way it operates as they undergo a digital transformation every day with constant technology advancements. A business-wide effort to succeed in modern-day marketing communication.
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