Evolution Of Marketing Strategy

Marketing has always been a demanding field ever since the development of a world where goods and services are sold with the purpose of making money. In traditional methods of marketing, mostly door-to-door advertising was used, as it was the most efficient and working method of developing customers and good relations with them. But with time, the methods of marketing changed as per the advancement in the field of technology. With the invention of paper, the new method of marketing was changed to making pamphlets and distributing them across the town or market so that the people would see them and reach out to get the products they want.

But upon the advancement of communication technology, the method of advertisement got easier, and the early stages of communication and technology involved various forms of advertising. The earliest one being newspaper advertisement, which is still much in display. Upon the invention of radio, the marketing industry set advertisements to audio form and sent them across a huge group of audience. On further development of science and industry, the advertisement was on television and on any event that involved a huge crowd of people.

The expansion of the internet changed the marketing industry forever, and now people would mostly advertise their products through platforms that draw the attention of most people, which include different websites like YouTube, TikTok, Facebook, etc. Blogging also gained popularity as a method of marketing products by providing in-depth details, allowing potential customers to read and make informed decisions about whether to purchase the product from the comfort of their own houses. Additionally, products and services are often delivered directly to customers' homes, depending on the type of product or service. Most everyday items can be delivered without issue. While some delivery fees may apply, luxury goods often require an investment. However, due to intense market competition, many sellers offer free delivery to build trustworthy relationships with customers. This approach helps prevent the prices of certain goods from becoming excessively inflated.

In the new era of social media and entertainment, the best way of selling products and making a great customer relation is really difficult without social media. We can see various brands and new companies skyrocketing in sales and value by proper social media marketing. Social media marketing makes it possible for small businesses to make sales and flourish without the need for a high budget on rent in expensive areas.

Social media marketing has helped many people generate a good income if they have a good following and a channel of targeted customers. We can see influencers with even 5000 followers making a good income on advertising small businesses if they have a channel of people who are targeted by the seller. But we can also see influencers with over 100,000 followers not getting approached by the businesses because the people they attract do not meet the requirements of the customers of the business.

In the modern world, social media marketing is the way of starting off any business or startup. As social media is free to use and the ones who have the best strategy and ideas get promoted by the algorithms of these apps, any business can flourish if they go viral because of various reasons. But the only way of sustaining these businesses is by selling the products as promised in the media. If the product is not as per the expectations of the customers, then even after getting a good reach on social media, the company will not flourish and will have negative marketing, making it a product that people will avoid buying. 

The social media marketing has opened a new field of employment for people. With social media marketing, we can see various companies get established as a platform that helps the creators get connected with the sponsors and the sponsors get creators for their advertising. They work as the middleman and make a hefty amount in commission depending on the type of creator and advertiser.

We can see the rise in people working as SOEs or in other fields, as they are the ones who determine the quality of the website in determining their rank in Google and being able to generate more traffic. Traffic in the field of technology refers to the people or the users visiting the platform that can be calculated on a daily as well as a monthly basis, depending on which one helps generate more information about the work of the website. Why this traffic is important is because depending on the amount and the type of traffic on these websites, Google provides different advertisements for it to show and make money off it.

Banks should also focus on building a good brand reputation on social media. As the new generation is deeply influenced by social media, building an engaging future customer is made easier by the help of social media. One of the other useful things that banks can do with the help of social media that can help them improve their customer service is creating AI bots on these platforms, which can help the users with any kind of simple problems to solve their problems easily. Like people may have queries about how to change their password to their mobile banking account and have faced problems in doing so, and rather than having to contact any hotlines, people will find it easier and more efficient to chat with bots to solve such simple problems, and the hotlines may be used for more useful and difficult problems regarding the security of the account and other queries of such regard.

In conclusion, the new era of social media and the internet has revolutionised the marketing industry, making it cheaper and more efficient and offering opportunities for progress and profit to anyone who is creative and passionate about their work while delivering the goods and services they promise. Not only has it transformed marketing, but it has also made growing a business and maintaining good customer relationships much easier through the use of social media and other online platforms.

(Bhattarai is pursuing computer engineering at IOE.)