Evolution of Digital Marketing
EVOLUTION OF DIGITAL MARKETING
Hope you know what is marketing? Marketing is the process of meeting customer needs and profitably translates it into revenue. Have you ever thought about how these marketing concepts evolved or how people started using digital platforms for marketing purposes? Here it is.
Earlier people followed the barter system which was an exchange concept. Here, before money was invented people were exchanging the products that they have for meeting their needs.
Next, the production concept evolved. People will buy products which are freely available or at low price. They were not bothered about the quality of products.
After the production concept, product concept came where focus was developing a superior quality of a product at a lower price. They start focusing on customer satisfaction.
Next is the Selling concept when many marketers come into the market with different products and product differentiation, so everyone wants their products to perform well in the market. They start doing sales promotion, advertising products and many other selling techniques.
Here comes the marketing concept. In this stage the marketer was focusing on the needs of consumers rather than selling the products. They start analysing what products people want, what they will accept, how much they will pay for the product etc.
After evolving marketing concepts, marketers start being aware about the society. Along with customer satisfaction they also start working on the welfare of the society. This concept is called societal concept.
Later, marketers started treating their customers as their family members. They start retaining their customers by sending greeting cards, offers, discounts on special occasions. This is called relationship marketing.
When technologies and the internet start playing a major role in people, marketers turn their ideas for satisfying the customer needs within their finger tip, people don’t want to step out from their home for purchasing products or services. This system is called digital marketing.
Hope you understand about the evolution of digital marketing. Now executives say that 60% to 70% of their budget is fixed for digital marketing purposes. So digital marketing is highly effective and it’s going to be the future in marketing.