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Essay / The Evolution of Marketing in the Digital Age
Table of ContentsIntroductionThe Evolution of Digital and Technological Advances in MarketingThe Rise of E-Commerce and Online Social NetworkingConclusionReferencesIntroductionDigital and Technological Advancements have been a topic at the same time analyzed and criticized over the decades by numerous points of view and recognized publications. By enabling connectivity, financial inclusion, access to commerce and public services, digital technology has become a true equalizer for the world, while having progressed faster than any other innovation in comparison. Like every other area of business and commerce, digital and technological advancements have reached the marketing functions of companies. As a result, marketing techniques have evolved and become much more dynamic even if the marketing principles remain constant. Social media, artificial intelligence, Clickfunnels, Internet of Things and Cloud are some of the technological platforms and inventions that have taken marketing to the next level. Such technological breakthroughs have benefited producers, sellers, buyers and consumers. Just like a two-sided coin, advancements in digital technology also come with downsides. Therefore, this review will broadly address the evolution of digitalization and digital platforms with debates on the advantages and disadvantages of e-commerce and online social networking sites. Say no to plagiarism. Get a Custom Essay on “Why Violent Video Games Should Not Be Banned”?Get an Original EssayThe Evolution of Digital and Technological Advances in MarketingDigital marketing is advertising delivered via the Internet and online digital technologies such as desktops, mobile apps and email. and other digital media platforms to promote goods and services. Digital marketing can be done both online and offline, both of which are of considerable importance to a well-rounded marketing strategy. Discussions about digital marketing first emerged in the 1990s with the development of the Web 1.0 platform, which allowed its users to find necessary information. they needed. Before this, marketers around the world were not so sure about the digital platform. This revolution allowed businesses to access consumers and investors from the outside world. Soon others followed, including the first clickable banner going live in 1993. The launch of Yahoo and other new technologies arrived in the digital market in 1994. Significant changes in the digital marketing space took location, with Yahoo receiving nearly a million hits in its first year. launch, thus leading businesses to attempt to achieve higher search engine rankings by improving their websites. Many search engines like HotBot, LookSmart and Alexa emerged in the digital market soon after, to reap the benefits that Yahoo enjoyed. While taking into account the current scale of marketing strategies, it is evident that offline marketing strategies such as the use of television and radio advertisements have become less important and less beneficial to businesses as the Internet and Social media platforms offer a more innovative and faster way to execute marketing strategies. A few decades ago, offline digital marketing strategies such as billboards were favored more,but today they have evolved into mobile marketing and emails. One of the biggest digital marketing trends that is taking over is artificial intelligence. Being economically savvy and exceptionally versatile, his consistency and principled activities enable action to eliminate errors. Currently, Amazon and Netflix already have built-in AI capabilities that facilitate transactions and recommendations. Artificial intelligence is expected to become the norm in digital marketing strategy, due to its increasingly granular ability to examine consumer behavior and power a more precise, collaborative, personalized shopping experience. Overall, the digital revolution has given rise to relationship marketing focused on consumers, industrial or corporate marketing focused on organizations, and social marketing focused on benefits for society. Furthermore, the most significant emergence of the digital revolution has paved the way for Internet marketing. The rise of e-commerce and online social networks Technological advancements thanks to the spectacular development of Web 2.0 have paved the way for the emergence and growth of online social networks and e-commerce and marketing. Online social networks and e-commerce sites are complementary tools to assist in e-marketing rather than being substitutes for each other. At one end of the cluster is e-commerce, which involves the buying and selling of goods, products and services over the Internet. It also involves money, fund and data transactions. At the other end are online social networks, which are websites that support and develop social networks via the Internet with the use of Web 2.0 tools. E-commerce is one of the fastest growing sectors of the global economy and is estimated to become a $27 trillion industry by the end of the current decade, Amazon, Flipkart, Shopify, eBay and Quikr being some examples of e-commerce giants. . Using all available digital marketing channels simultaneously will ensure e-commerce success for businesses, as competition is tough and technology is constantly evolving. On-site and off-site efforts to integrate search engine optimization (SEO) and search engine marketing (SEM) into marketing strategies are some of the ways to achieve success in ensuring that the e-commerce store d A business is optimized for search engines for more than a quarter. of consumers start their online shopping experience on Google. Another way includes content marketing, where the focus is on attracting customers by entertaining them or helping them solve everyday obstacles, rather than on selling. Whether it is a short blog post explaining how to use the item sold by the company or how to use it, for example through a cooking video and how it is made by Lush on YouTube, which shows how Lush makes its bath and body products, content marketing can create awareness and, in doing so, secure new, loyal customers. Content creation can be done through YouTube, Instagram, and even company-owned website blogs. In addition, through the use of applications, having a mobile strategy is more obvious than ever, since the Internet browser is no longer the only software for accessing the Web. It could be said that there is a connection between social media marketing and mobile marketing, as social media marketing connects to it usingapplications, which are related to mobile marketing. With over 3 billion people using the internet, including 1.52 daily active Facebook users, over 300 million shoppers on Amazon, and 5.6 billion searches on Google every day, digital marketing should adapt its strategies so as to include social media marketing and social media. networks, for e-commerce to be successful. Focusing on the inclusion of paid social media will ensure broad visibility and attract customers, apart from promotions set exclusively on the e-commerce sites themselves. Businesses can create profiles on social media platforms, for free and just like their users. The profile can be for the company as a whole or specific to particular brands of the company. Through created profiles, online social networks can produce effective viral marketing and drive online sales. When controversy arises, the effectiveness of recommendations and word-of-mouth marketing depends on the price and category of the product. It is also complex, because you have to take into account the structure and interest of the social network. Therefore, the purpose of the two platforms; E-commerce and online social networks vary. Online social networks are intended to communicate and maintain social relationships, while in controversies, a commercial objective is attached to e-commerce. However, fiscal activities harmonize with social activities as they are an essential part of life, since relatives and friends greatly influence a person's financial decisions. Thus, the division of e-commerce and online social networks is incredible, just as the separation between social interactions and economic and commercial transactions is artificial. Due to the high diffusion of online social networks such as Facebook, Instagram and Twitter, these networks have become ideal places to promote brands and products that can drive e-commerce success. This situation fosters a virtual partnership between online social networks and e-commerce, with tools such as Payyment and Ecwid extending the capabilities of online social networks to e-commerce. Both organizations and consumers are affected by technological and e-commerce advancements, so the impact is massive. With the help of online social media platforms, access to viable marketing data has become wider than ever for businesses. Businesses also benefit from a broad global reach to customers because they are no longer confined by geographic constraints. E-commerce also significantly reduces costs for businesses because it removes the need for certain fixed costs. It builds a better connection with customers through content marketing, faster returns and responses, and faster goods deliveries. E-commerce also benefits consumers, who can shop at their convenience, anytime, anywhere. They can access products from all over the world, with platforms such as AliExpress, Alibaba, Amazon and eBay delivering goods to customers' doors within hours and days. Just as businesses have the potential to reach a wider audience, consumers are exposed to many online sellers, allowing them to profit from price comparison. As a result, prices of goods and services tilted in favor of consumers, benefiting them. Even if certain fixed costs