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The Future of Marketing is Changing As We Know It!

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.

  • A change in skill requirements

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.

Photo by Edho Pratama on Unsplash
  • Digital marketing vs traditional marketing

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.

  • Consumer privacy

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.

Photo by Christopher Gower on Unsplash

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.

Previous blog posts “We know what you did last summer” and “How much control do companies really have over us” further explore this.

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:

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2 Comments on “The Future of Marketing is Changing As We Know It!

  1. Its amazing how much data there is out there now for digital marketing. Whether we like it or not, marketing has never been so targeted at us

    • That is very true! We are connected to devices now more than ever, and companies are likely to continue to take advantage of that until me make it stop. In some ways using our data is beneficial so we do not have to filter out information that is not relevant to us, but at the same time we are losing a sense of control.
      It is really a catch 22 in this sense.

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