How is the role of marketing evolving?
Updated: Jul 14
In recent years, as a result of the pandemic and turbulent economic shifts, the role of marketing has changed, and many marketers have become change agents. Unlike in the past, when marketing was primarily concerned with expansion and publicity, it now plays a fundamental role in driving change. This includes redefining business propositions, addressing the shift to virtual economies and digital spaces, delivering meaningful business offerings, and addressing acute business challenges. With technology, it is easier for marketers to reach consumers, but consumers are inundated with messages, making the quality of marketing messages more detrimental to their success than in the past.
Marketing tools are available, and there are now systems and platforms that unify the presentation of data, such as the single customer view platformm or the increased transparency in revenue generation and the customer journey, allowing marketers to not only use personalization, but to also act quickly.
Automating data is expanding, and, if utilized properly, can result in the construction of structures. Additionally, technology is bringing operations, customer service, and marketing closer together than ever before, thereby expanding the marketing function. With technology, marketers are also able to focus more on retaining customers and extending their relationship with the brand than on merely acquiring new ones.
This shift towards building culture and turning inward is driven by the desire to create a strong brand identity and foster customer loyalty, which ultimately leads to increased revenue and profitability. Additionally, marketers are also focusing on incorporating social responsibility into their business practices to appeal to socially conscious consumers.
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