How is marketing evolving?
What does this mean for the future of your business?
Well, there is no simple answer.
However, I have reached out to one of Monash University’s esteemed academics, Peter Wagstaff, who I have had the incredible ability to have been taught by over my time studying at the University. He has a wide range of knowledge and expertise in the marketing field and has inspired me to create my own in-depth analysis about marketing which have been the basis of my blog so far.
Wags was able to offer me some key insight and concepts that affect the marketing industry, I have outlined these below.
Whilst traditionally marketing has been viewed as a very creative field there is a strong movement towards also having a core ANALYTICAL understanding.
This means being able to understand huge data sets and create meaningful interpretations to help the business move forward and remain competitive.
Try Google analytics, it’s a great tool to be familiar with in the industry.
These two ideas have begun to merge rapidly. Most marketing approaches include some underlying digital aspect which is key to the overall marketing process. They should work simultaneously, not in isolation.
However, it is clear that consumers are wanting more and more control over what they allow companies to access. This is likely to drastically affect the way companies currently undertake marketing processes and will only get more complicated as the digital age evolves.
This is a highly contentious issue which we still do not know the full extent of, but we do know that it will affect the way in which businesses gather information and it will likely limit the extent to which they can use the data they do collect.
These are only guidelines and opinions; however, they are worth keeping an eye on.
Join the conversation and comment down below any insights you have about marketing/ digital marketing.
Another Thank-you to Peter Wagstaff for your valuable insight and support.
Additional readings and references:
Category: marketing, Social MediaTags: blogging, business, businessethics, BusinessTips, consumerprivacy, digitalevolution, ethics, GoogleAnalytics, Inspiration, marketing, marketingchange, marketinginsights, MarketingTips, MKF3881, PeterWagstaff, WordpressTips