With the rapid development of electronic devices in the last two decades, these devices have directly influenced the way marketing works. Here is a timeline that I made to explain how marketing is changing and how the internet has positively impacted on marketing strategies.
For most of the 20th century, people used telephone and written mail to communicate with each other over a long distance. Moreover, there were only several platforms for marketers to do the advertising; these are print newspaper, radio and television. However, this type of advertising would be considered expensive for small business owners.
In the late 20th century, with the increase of household Internet users, a lot of businesses went digital to market themselves. People started using email, ICQ, MSN to connect with others. These online communication platforms were much faster, efficient and convenience; they also provided a new way for advertising called online advertisement.
As we mentioned, the internet has changed so much in the past decade. For now, with the prevalence of smartphones and social media websites like Facebook, Twitter, YouTube, Blogger, people treat them as a major communication tool, and these social media platforms have also given the opportunity for marketers to do a lot more advertising than before. In the past few years, the market changed again, people are more focus on “Earned” media than “Paid” and “Owned” media. .
“Paid” media means the media that the company have to pay for it service. For example, TV commercial, newspaper Ads.
“Owned” media means the media that owned by the company. For example, official website, Facebook, Twitter & YouTube account.
“Earned” media means other people commenting the company by using different media. For example online forum, online discussion blog.
The reason “Earned” media is more important than the other two media is because “Earned” media reflected is the public’s perception of the company’s image and it products. If the reviews and comments on the earned media are negative, it will directly influence the sales of the company products and reputation.
About choosing the most suitable advertising strategy
Although social media platforms provide lot of advertising opportunities to marketers, marketers still have to select the right advertising strategy for the company; otherwise it will directly influence the company’s image. In the worst scenario, it will cause potential customers to dislike the company, which will hurt company’s reputation. For example, NO! NO! Hair Removal failed to deliver its product to customers because of its bad selections of color, and font size on its print ads. With bright pink and comic fonts, viewers felt that the product of NO! NO! Hair Removal was unprofessional and unreliable.
In order to select the most suitable advertising strategy for the company, people should first create a creative brief plan. The creative brief helps the company to breakdown their target audience, business environment, competitors’ status and market share. With all the details provided in the creative brief, the company should have a clear understanding of the current situation of the company. Also, the management should select the right advertising strategy based on these provided details.
On the other hand, the company should also do a communication audit. Communication audit is similar to creative brief, but a communication audit is much more focused on the communication side of the company. Internal communication, external communication, paid media, owned media, short term plan and long term future plan should be included in the communication audit. With the communication audit, the company will have a clear goal or objective in the future, then it will help on company performance improvement.
In conclusion, there is a debate about whether companies should continue advertising on traditional media. In my opinion, as long as the company has a clear understanding of what it needs and knows its audience well, the company would be successful regardless of which platform it decides to choose.