Hello again everyone. As we all know marketing has been evolving throughout the past decades into what we call digital marketing. Marketing used to be more about selling the products to their customers through many different means. Those means consisted of advertisements in newspapers, magazines, commercials, and so many more. We still see these ads today, but the momentum has shifted towards a more digital approach.
You may be asking where I’m going with this. Well today i’ll be going into depth about how marketing today is geared towards digital means and how its has shifted away from pushing sales and more towards building relationships. We do want sales. As a business it wouldn’t be great to not have sales. Your business would suffer, but what I mean is the new technology, analytical tools, social media, and how we communicate with are customers have become a crucial role in how we market in today’s society.
What I mean is that we as marketers have transitioned to relationship marketing. This has reinvented how we think and how we market to are consumers. We want to build a community with loyal consumers. It is easier to retain existing customers, than gain new ones. With the advancement in technology like customer relationship management (CRM) and other tools that marketers can use to gain insights into their customers.
What is CRM you may be asking? Well CRM is the practice, strategies and technologies that companies use to manage and analyze their customers interactions with the intent of cultivating business relationships with their customers, and increasing customer retention and satisfaction. Here is a link to an article that discusses the best CRM systems for 2017. We use CRM and now social media platforms to help gain knowledge of our customers. These new technologies have allowed marketers to target specific audiences, customers, and use other metrics like customer lifetime value, customer acquisition costs, and many more top help gain insights into their most profitable markets.
With the wide use of social media marketers are able to create communities that surround the company’s brand with consumers and others who love their products. In doing so we are able to communicate, gather feedback, and gain insights through the use of analytical tools offered by many social media platforms. This allows marketers to use the insights and feedback from both CRM and through social media to make better informed decisions on campaigns, their social media sites, website, products, target market, etc. Technological advances with these systems has added a great resource for marketers and their companies to utilize to help maximize their customer retention and satisfaction.