It is very clear that in society today companies strategically use marketing to engage you and I, their target audiences.
However, how much control do they really have over us?
Touchpoints, as outlined by Daria Kelly Uhlig provide us with insight over how effective a company’s marketing is.
These touchpoints vary across platforms and often engage consumers through saturations across the market. However, not all touchpoints are “brand-owned” (Bakhtieva, 2017) as the power of the digital age has allowed consumers to hold a strong influence over companies, thus, creating our own touchpoints through actively choosing to wear certain brands or post reviews about certain products, which leads to an increased consumer buying power.
As much as companies such as Apple and Nike and Sephora try to continually promote their brands and products to the public, they are losing control over this now more than ever.
Think about the last piece of technology that you purchased, was it because of your direct experience with the company that makes/ sells the product or was it from previous experiences with that brand yourself, or even a recommendation from a friend or other third party such as a review by a YouTube influencer such as Alfie Deyes or Jeffree Star.
It is these external influences which companies need to focus on understanding as they form a significant part of the overall customer journey. However, a significant implication from this is that brands can no longer solely dictate how the customers journey ends as much as they could before, as a direct result of the sheer amount of information present online for consumers to analyse.
Have you ever purchased a product or service based largely from another person’s recommendation instead of as a result of the companies direct marketing tactics?
Comment down below and join the conversation!
Bakhtieva, E. (2017). B2B digital marketing strategy: a framework for assessing digital touchpoints and increasing customer loyalty based on Austrian companies from heating, ventilation and air conditioning industry. Oeconomia Copernicana, 8(3). doi: 10.24136/oc.v8i3.29
As the digital world continues to grow and progress it allows for new trends and schools of thought to develop.
One of the more interesting developments is the idea of ‘Long tail’ approach. This refers to identifying niches in the market and capitalising on the value of these within a micro-segmented market.
Whilst it is typical in today’s society for companies to want to mass produce and cater for more prominent demand, Savage (2010) outlines that there is still a lot to be gained from entering into niche markets. This is especially true as society is rapidly embracing a variety of social platforms and marketplaces such as; Ebay, Etsy, Alibaba and Depop which allow consumers to search for tailor made solutions that previously weren’t as readily available.
Although the long tail approach has shown to be successful in the digital world it still seems daunting to many businesses who may have a limited online presence and the lack of strong digital strategies. Therefore, causing them to view this approach as too risky.
However, businesses like Amazon.Com and Netflix have embraced these high risks which have resulted in high rewards, with consumers finally feeling like their unique needs are being acknowledged.
This raises an important implication for digital marketing which is also highlighted by Elberse (2008) ,which is that as digital e-commerce continues to excel and allows products to become more readily available, consumers will be willing to pay for niche products that satisfy their needs and wants. Ultimately allowing the long-tail digital marketing approach to increase its relevance as a viable business approach.
This infographic below outlines the impact of this approach with currently booming businesses.
How do you feel about the long-tail digital marketing approach? Do you have a unique hobby or interest that you would like to be able to access more products for, but are currently unable to due to it not being a mainstream interest?
Join the conversation and comment your thoughts down below.
External Readings and References:
Anderson, C. (2004). The Long Tail. Retrieved from https://www.wired.com/2004/10/tail/
Savage, N. (2010). Straightening out heavy tails. Communications Of The ACM, 53(6), 13. doi: 10.1145/1743546.1743553
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However, as outlined by Hinings, Gegenhuber & Greenwood (2018)over the last decade in particular there has been a huge movement by companies to position their potentially disruptive ideas and services in a way that appeals to the early majority in the market, in the hope that it will persuade them to embrace their products and services and encourage others to use them to. In Australia in the last 2 years there has been a “20.9% increase” in innovative product development.Read More