By M. Isi Eromosele

External critical factors such as globalization, privacy legislation, technology advancement and the maturity of traditional marketing channels are causing many companies to reevaluate their traditional approach to reaching their customers.

The availability and impact of advanced technology such as analytical Customer Relation Management (CRM), multi-channel marketing and integrated marketing campaign management are having a profound effect on how companies successfully conduct the marketing and branding of their products.

The cumulative effect of this evolutionary marketing change is that companies need to make strategic adjustments in the way they acquire, manage and retain their customers. This is having a tremendous impact on how marketing is conducted in the global marketplace.

The Marketing Evolution

This marketing evolution requires the effective integration of market positioning with customer-focused strategies such as intuitive personalization and permission-based marketing. The result would be increased sales and revenues.

To accomplish the above, new models for building profitable value-based customer relationships need to be established, which would require companies to automate sales and customer service functions, which would improve sales management and customer service.

Today, with Web 2.0 advancements, marketing processes is going through profound changes. Internal and external factors are making it imperative for companies to implement new models of marketing, especially with the development of robust technology. There is a necessary need for companies to shift from mass marketing to value-based marketing.

The Advent of Enabling Technology

Continued emerging technology has major underpinning on the marketing evolution that is taking place. The Internet has played a major role in turning consumers into highly informed clientele.

They have developed a high degree of product/ service knowledge. As a result, customer switching is rampart. This situation highlights the significance of marketing organizations’ effectiveness in acquiring, retaining and growing their customers.

The key to implementing a successful marketing campaign is for companies to be highly adaptive. Offers to customers must me personalized and made through multi channels. Customer information has to be consistently analyzed to respond to changes in customer preferences.

Multi-Channel Strategy

Today’s customers demand convenience. To satisfy this requirement, companies need to develop sophisticated and integrated multiple channels to their targeted markets. These new channels need to be integrated, with front-end analytical consumer information being merged with back-office fulfillment processes.

The marketing channels have to be integrated for individual customer segments and preferences. Every channel must be customer-centric, prepared to conform to the customized preferences of individual customers. This strategy turns low-value customers into high-value ones. Preferred channel interactions create loyalty among customers.

Integrated Marketing

Marketing is the engine that drives sales in any business organization. When properly executed, marketing generates qualified leads for the sales organization as well as drive customers to the appropriate channel.

Instead of being a separate cost center, it needs to be a key component in the overall sales process. Utilizing analytical engines, marketing provides sales with a complete picture of customer profile and activity, with up-sell and cross-sell possibilities. This customer data and insight generated by the marketing team must be deployed to all key decision making functions within the company.

Achieving increased profits through effective marketing requires that internal processes be defined and automated. Customer-centric interactive processes are implemented, underpinned by data analytical technology that will enable building profitable long-term relationships with customers.