Monday, October 7, 2024

16 Maxims About Marketing That Are Quickly Becoming Moot

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If there is one constant in the field of marketing, it's that its foundations are constantly changing. Ubiquitous tactics that may have seemed set in stone—essential elements of any marketing strategy—can crumble beneath the power of new technologies and unpredictable evolutions in consumer behavior.

In such a fast-paced world, what worked yesterday might not cut it tomorrow, leaving marketers to decide whether traditional maxims still hold true. Below, members of Forbes Agency Council share 16 long-held beliefs about marketing that have been turned on their heads in recent years, and why the conventional wisdom no longer applies.

"Relationships are everything in marketing"—well, not anymore. Previously, who you knew and how you leveraged those relationships were the bread and butter of this industry. However, we're now shifting toward a world where everyone's attention is content-based. Today, if you have a compelling message, there is someone out there willing to listen. - Manuel Machado , CCOMGROUP Inc.

Younger generations are drawn to brands with strong identities and values. Maintaining these values may mean respectfully disagreeing with customers to uphold brand integrity. The customer's voice is always important; however, it must be balanced with data, brand values and broader stakeholder interests. - Amy Packard Berry , Sparkpr

The idea of "driving demand" has changed. Modern marketing emphasizes creating value through personalized experiences, building long-term relationships and allowing target audiences to discover brands and products organically. Informed buyers now expect authenticity, trust and meaningful interactions, making demand generation a result of high-value engagements rather than aggressive promotion. - Renee Yeager , Yeager Marketing

We've always been told to "root our strategy in audience personas," but personas as we know them are failing us. In addition to being linear when today's consumers and buyers don't move logically between "awareness" and "conversion," personas are also reductive, turning complex people into stereotypes (such as "Frugal Frank"). We need to enrich the way we look at the people we're marketing to—or be left behind. - Christine Olivas , No Single Individual

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