Marketing 4.0 in the Digital Economy
Advancements in technology disrupt the way people live. It affects different aspects of the society including how businesses market their products or services. From the traditional marketing where businesses make use of channels such as newspaper ads, billboards, TV commercials, and radio ads, businesses shift to digital marketing.
Digital marketing or online marketing includes use of channels such as social media and emails. Digital marketing allows businesses to easily measure results, to have a wider reach, to spend less, and to personalize customer experience. However, methods of digital marketing changes rapidly. There is also too much competition, and it can easily be damaged by negative feedback.
There are four aspects in the shift from traditional to digital. They are as follows:
1. From segmentation and targeting to customer community confirmation.
2. From brand positioning and differentiation to brand clarification of characters and codes.
3. From selling the 4Ps to commercializing the 4Cs.
4. From customer service process to collaborative customer care.
However, at the end of the day, digital marketing is not meant to replace traditional marketing. The two should co-exist with interchanging roles across customer path. Marketing 4.0 approach “combines online and offline interaction between companies and customers, blends style with substance in building brands, and ultimately complements machine-to-machine connectivity with human-to-human touch to strengthen customer engagement.”
