The recent pandemic sent shockwaves throughout the world, affecting nearly every aspect of marketing in a number of far-reaching ways. Some have argued that such a catastrophic event inevitably propelled segments of the economy forward in an unexpectedly accelerated manner. Whatever the futuristic ideas of marketing visionaries might have been prior to this event, the aftermath of such a seismic shift has revealed changes that appear to be here to stay. The largest tech companies have grown even larger, and Amazon has come to further dominate the digital marketplace. Content manager, Annie Zelm, comments on a major result of the pandemic-related closing of so many brick-and-mortar businesses, pointing out: “Consumers who may have done the majority of their shopping in person have grown accustomed to ordering everything from groceries to appliances online. Even as stores begin to reopen, these habits have been well-established by now. ‘Buy online, pickup in-store’ will become more common as customers expect a new level of safety and convenience.” (https://www.kunocreative.com).
In lieu of in-person events, marketers also have had to shift focus to virtual means of connecting with consumers, including through videos and an assortment of digital channels. During times of widespread quarantine, internet use went up by 70%, and, according to a CMO survey, 85% of marketers observed an enhanced level of customer acceptance to digital offerings and experiences. (https://martech.org). This increase in online activity also led to a situation where anyone on social media can create and publish content over a multiplicity of platforms. This has upped the game of content marketers; in order to compete for the attention of users, they must come up with increasingly more relevant and appealing material, constantly keeping their fingers on the pulse of a worldwide consumer base. In addition, more people are making global connections than ever before; in 2020, there were 5.1 billion mobile phone owners, 2 billion online shoppers, and 3.7 billion social media users. (https://martech.org). The reach of marketing has increased exponentially, leaving many marketers scrambling to keep up.
Impact of New Technologies on Supply Chains
Supply chains have been transforming their practices over recent decades in order to implement approaches that embrace the ever-evolving concept of omnichannel marketing. According to marketing analyst, Manik Aryapadi, “Enabling a truly end-to-end omnichannel experience requires a new way of supply chain thinking. The supply chain needs to be readjusted based on changing market conditions, and players should pursue an agile approach that allows them to adjust quickly to changing trends, options, and customer expectations. These principles can help determine the approach to building the network and ecosystem of the future.” (https://www.mckinsey.com). Foremost among these changing trends are new technologies that are already exerting an influence on existing distribution systems and can offer a glimpse into what the distribution of tomorrow might look like.
One method of synchronizing supply chains is through the use of radio-frequency identification (RFID) tags, which allow companies to know where their products are at every link of the chain. Although these devices are more expensive than bar codes, they can result in substantial savings; companies can combine this tracking from multiple sources, thus keeping precise track of their distribution systems at all times. Integrating other forms of automated technologies with RFID tags can enable a warehouse to function with complete automation. Once the problems associated with robot workers are better resolved, these automated facilities will become commonplace elements of the supply chain. Other automated solutions include driverless trucks and delivery drones, some of which have already been put into limited operation. These emerging technologies will enable companies to save money while providing quicker and more convenient service to their customers. As marketing director, Jake Rheude, points out, “When customers can choose suppliers that have lower costs, quicker deliveries, and deliveries to designated locations on their property, they will buy from those companies. Other suppliers will have to adopt the same technologies or go out of business. The future of distribution is likely to include these technological innovations.” (https://www.webretailer.com).
Future Marketing Trends
A new perspective is beginning to emerge as the entire economic landscape shifts and then realigns itself. A vision of the future of marketing is already dawning on the horizon. As observed by CEO, Michael Brenner, “The future of marketing, it would seem, must include a futurist’s intuition, a dash of creativity, and the ability to see what can lie ahead. When it comes to marketing, fortune indeed favors the bold.” (https://marketinginsidergroup.com). Certain aspects provide more obvious indications of change, pointing directly to the establishment of innovative approaches. These include the already surging increases in digital marketing and in social media options, as well as in the futuristically directed areas of high-tech electronic devices, automated technologies, artificial intelligence, and even virtual and augmented reality applications. There are also more subtle paradigm shifts occurring, many of which are the direct result of technological advances.
Across the board, future consumers will have more decision-making power and buying options than ever before. Because of this, companies will need to provide their customers with a greater degree of personalization, not only in terms of the products being offered but also in the way these products are marketed. Along with the increase in digital marketing, there will be a more intense focus on mobile communications; more and more marketing is being done over mobile devices. Consumers will continue to demand transparency from companies. Since they have access to a wider array of available options, buyers can exercise a great deal of power in this area. Although they will remain an integral factor in every marketing equation, consumers are not the only ones to benefit from future advancements. For example, marketers will have access to an expanded selection of effective metrics, allowing them more control over targeting and reaching their audiences. Furthermore, the whole process will be integrated into a digital force with the power to address goals marketers from the past could only dream of reaching. Going back to the words of Michael Brenner: “For marketers, it pays to have one eye on the now and another firmly focused on the future.” (https://marketinginsidergroup.com).
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