Tuesday, March 28, 2023

It’s exciting to see how marketing is evolving and adapting to the ever-changing landscape of consumer behaviour and technology advancements. A decade ago, marketing was considered a creative field, today it incorporates analytics to get the most out of campaigns. Marketers constantly need to upskill and stay on top of trends to outperform competition and be aware of privacy laws, ai capabilities and updates from various social platforms.

So, what’s changing in the world of marketing?

In one word, everything. The ease of reaching consumers and access to data has turned every company into a media company. Innovation, branding and efficient use of available digital media channels are critical for a company’s success. 

Here are a few of the most important changes that are happening in the world of marketing: 
  1. Shift to privacy-first marketing: With an increased awareness of privacy concerns, there is a growing shift towards privacy-first marketing, which involves collecting and using customer data transparently and ethically. This includes providing customers with more control over their data, being more transparent about how data is collected and used, and minimizing data collection to only what is necessary. 
  2. Increased use of AI and automation: Artificial intelligence (AI) and automation are increasingly being used in marketing to optimize campaigns, personalize experiences, and improve customer service. This includes using chatbots for customer service, automating email marketing campaigns and using AI-powered analytics to optimize campaigns. 
  3. Emphasis on customer retention: While customer acquisition has traditionally been a key focus for marketers, there is a growing emphasis on customer retention. This includes investing in loyalty programs, improving the customer experience and using customer data to identify and address pain points. 
  4. Rise of the creator economy: Influencer marketing has become a key part of many marketing strategies and is likely to continue to evolve as it is perceived as authentic. Consumers have become sceptical of sponsored content; thus, marketers are exploring channels to connect with their audience organically. 
  5. Increased focus on sustainability: With growing awareness of environmental and social issues, there is a growing emphasis on sustainability in marketing. This includes using sustainable materials, reducing waste and communicating a brand's sustainability efforts to customers. 
  6. The rise of digital channels: The rise of digital channels such as social media, search engines, OTT platforms, messenger apps and email has transformed the way marketers reach and engage with their audience. Today, digital marketing is a key component of most marketing strategies, and marketers are investing heavily in digital channels to drive growth and build brand awareness. 
  7. Data-driven decision making: Marketers now have access to plenty of data to optimize their messaging and targeting. Every marketer today uses some type of analytics tool and performs A/B tests regardless of the size of their company.

What are the most important skills needed for a career in marketing? 
  1. Creativity: There’s no substitute for this one. With the rise of AI, data and competition from across the globe, a marketer must be a creative thinker. The ability to develop effective campaigns that strike a chord with the consumer will be one of the most sought-after skills in a marketer. 
  2. Analytical thinking: Understanding and interpreting data will be a skill all businesses will look for in marketers. 
  3. Adaptability: Marketing will continue to evolve at a rapid pace. Being open to change is a must for all marketers. 
  4.  Collaboration: Marketing is rarely a solo endeavour, so the ability to collaborate effectively with team members, agencies, and other stakeholders is essential. This involves strong interpersonal skills and the ability to work effectively in a team environment.

Excited to step into the world of marketing? 

Equip yourself with the skills that are in high demand across the globe with a 100% online Bachelor of Business in Marketing from VU. Designed by leading experts and professional marketers, the program helps you gain a strong foundation in brand awareness, social media and communications. The VU Block Model will help you master all marketing topics as you’ll only take one subject at a time during a four-week period. You’ll also earn a built-in Higher Education Diploma in Business (Enterprise) within one year and get a complimentary entry to the Australian Marketing Institute. 

To learn more about our 100% online programs, give us a call today.

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