According to statistics, by 2020 there will be approximately 30 billion devices which are IoT enabled. What this means is that, next year, every there will be more and more people who are using smartphones, tablets, those who are wearing fitness trackers, as well as those who are making use of other digital devices which capture information, in real time, and transmit this over the Internet, to a specified data-collection point, for assimilation and processing.
This means that online processes, such as eCommerce, will become more accessible to people. No longer will they need to wait to have access to their laptops or desktops to buy something online, now they are able to purchase something immediately using a variety of apps on their smartphones. Major online retailers – such Amazon – have taken advantage of this trend of ‘always-on-shopping’ and have designed apps for their own companies.
A Digital Marketplace Requires A New Way of Marketing
Given this new way of interacting with the world, and people spending more time on digital platforms, there needs to be a new way of speaking to these individuals and communicating your company’s brand story.
Enter digital marketing
‘Digital marketing’ is about so much more than ‘marketing’ ‘digitally’. Yes, digital platforms are used in order to perform marketing functions. However, just because online media are used where, previously, offline media were utilised, it doesn’t mean that traditional, tried-and-trusted marketing principles fall by the wayside.
Take the celebrated 4Ps of marketing: price, place, promotion and product. Whether you decide to market online or off, in order to market anything effectively you need to know the following information about what is being marketed:
- The product that is being marketed,
- The price at which this product is being sold,
- Where you’re going to market this product, and
- What type of promotions you’re going to use in order to market the product.
