In the current scenario of perfect competition where numerous businesses are supplying products/services to numerous customers; it becomes imperative to grab the attention of information-rich employees. Consequently, just being good in the area of marketing and sales is not enough. The current scenario can be summed up by the words of Charles Darwin “it’s the law of the jungle, the survival of the fittest”. On top of this the current market scenario further spells doom for the marketing industry. The need to be risk-averse and stringent in your expenditure is the need of the hour!
“Be fearful when other are greedy, be greedy when others are fearful”- Warren Buffet.
The corollary to the situation says that tough times are the best time to establish your dominance and outdo the competition. This is true because, when eventually the economy recovers the players that were too defensive will lose out to the players who made the maximum of current situation. Hence, it’s paramount to continue with the endeavour of strong and positive marketing, keeping the economic situation on hindsight.
Surely, the situation in hand seems more complex than rocket science, but a better insight on the current trends and opportunities make the task at hand look simpler. The answer lies in technology! Investing in IT technologies to derive better yield out of the marketing and sales effort is what the business of today and more importantly tomorrow, needs.
“Digital Marketing” is the common phrase used to refer to the concept of marketing using IT technologies. For convenience sake, we will be using digital marketing in the following sections of the article.
The different technologies that can be used for marketing are as follows: 1
a) Search Engine Optimization: This technique involves activities like effective website building, choosing the most appropriate keyword for search, submitting the...