The evolution of marketing from version 1.0 to 4.0 signifies the increasing role of data and technology in brand marketing strategies and customer interactions. Let’s take a more detailed look at the definitions and examples of strategies in each version in a chill yet polite manner:
Marketing 1.0 : product centric
Marketing 1.0, popular during the Industrial Revolution from the 18th to the mid-20th century, had its main focus on products, with one-way marketing from companies to the mass audience.
Top Priority: The Product
The primary goal during Marketing 1.0 was to produce and sell as many goods to the general public as possible. Hence, the product took the highest priority in the marketing strategy of that era.
One-Way Mass Marketing Approach
Marketing strategies were executed through a mass approach with no personalization whatsoever. Marketing messages were conveyed unidirectionally from companies to the broad audience through conventional media.
Example M1.0 Strategy: Mass Media Advertising
Common strategies used in Marketing 1.0 included newspaper ads, magazine ads, radio ads, billboards, and TV commercials. The aim was to inform the public about the product to make it known and purchased.
Marketing 2.0 : Consumer centric
In the digital era of the 1990s to the 2010s, the focus shifted to consumers with two-way marketing through digital channels and social media.
Top Priority: The Consumer
In Marketing 2.0, the consumer became the top priority in brand marketing strategies, particularly through two-way interactions to directly listen to consumer needs and feedback.
Interactive Digital Marketing
Marketing became interactive and two-way through digital channels such as email, websites, blogs, and social media, allowing consumers to provide feedback on the brand at any time.
Example M2.0 Strategy: CRM and Social Media
Distinct strategies of Marketing 2.0 included customer relationship management (CRM), fan engagement on social media, personalized email campaigns, YouTube video tutorials, and more.
Marketing 3.0 : Value
In the 2010s, marketing started focusing on value creation and ethics, such as emotional brand purpose and cause marketing, to attract consumer loyalty.
Top Priority: Value Creation
The focus of marketing in this phase was on creating positive value for the brand, building a relevant brand purpose for consumers, and ethical campaigns for social/environmental causes.
Read Also : Global Furniture Market Demands
Collaborative Marketing with Communities
Strategies became collaborative with stakeholders, including consumers and communities, such as communicating brand purpose on social media and participating in issues raised by those communities.
Example M3.0 Strategy: Brand Purpose Content
Distinct strategies of Marketing 3.0 included branding through positive event sponsorships, cause-related marketing, influencer collaborations, and the production of brand purpose content for social media and YouTube.
Marketing 4.0 : personalized and predictive
In the current digital era, the focus has shifted to data to enable personalized and predictive marketing strategies based on customer insights.
Top Priority: Customer Data
Consumer behavior data, both transactional and digital media activities, are managed in customer databases to obtain customer insights, making data the most important marketing asset.
Personalized and Predictive Marketing
Customer insights are used to predict needs and deliver practical, personalized experiences and offers for each individual consumer.
Example Strategies: Targeted Campaigns and Custom Products
Some examples of Marketing 4.0 strategies include AI-based personalized product recommendations in e-commerce, digitally targeted ads based on predicted interests, birthday promotions based on CRM data, customized loyalty program rewards, and more.
The evolution from Marketing 1.0 to 4.0 follows the development of technology and consumer behavior. In today’s digital era, there are increasing challenges and new opportunities in Marketing Evolution for brands to continuously adapt and remain relevant to their audience.