What trends will become game changers of tomorrow? The answers vary not only from market to market but also to which constituent of the Indian marketing, media and advertising industry one is posing the question to. Irrespective of the answer, the common thread is technology and its phenomenal growth. One of the biggest challenges facing industry leaders today is whether the right use of technology is being made to connect with consumers, to know more about them, to customise the offer for them and in the process, achieve company’s business goals.
Technology changes everything it touches today – what does this mean in reference to marketing? If one had to look at Philip Kotler’s famous four Ps – product, price, place and promotion -- the impact of technology is already visible across all four, including Price and Place according to some marketing gurus, because technology has enhanced ways to gauge and better interpret consumer insights – which according to some leaders, will always be at the heart of the industry’s transition.
In the last five years, various new definitions of what comprises marketing have been discussed. Some marketing consultants say the four more Ps have found their way into the equation and these are participation, predictive modelling, personalisation and peer-to-peer communities. In turn, these make way for more keywords that need marketer attention in order to connect with the consumer.
But today, because technology has changed ways to communicate, and a lot in that sector is built by information technology companies, collecting customer data has become a part of the equation. There is no way to control the overload of customer information. When right marketing moves are made, not only is information available about existing customers, but also of potential new users who find their way to common platforms that can work as catchment area for marketers.
There are a few key questions here – are marketers doing anything about the abundance of information available on their customers? Do they even intelligently access it? How are they creating conversations or increasing engagement or even enabling customer participation today?
The exchange4media Conclave, presented by Jagran, is going to table some of these questions with global industry leaders. The Conclave will begin in Delhi on October 22, 2012 and culminate in Mumbai on October 23, 2012. The event can be attended by registration, or by invite, only.
Technology has undoubtedly redefined marketing – some marketers understand and address this, and some address this just as a market response. But only those marketers who are able to truly comprehend different aspects of how technology can transform ways of marketing to their customers, would stay at the top of their game.