By Tiffany Brown
Today as many as 131 different types of marketing have been identified, and when taking into account Scott Brinker’s 2015 marketing technology landscape, or Brian Solis’ ever-evolving conversation prism, the picture has certainly become a bit dizzying.
As a small business owner, how do you determine where to spend your marketing dollars and uncover what strategies and tactics make the most sense for your business in such a rapidly changing industry where keeping up with your competitors has become not only confusing, but increasingly difficult?
Did you know that 83% of a company’s market value today is represented by their intangible assets (brands, quality processes, relationships, etc.) compared to 1975, when it stood at only 17%? Thanks to the industrial revolution, which progressively allowed for our economy to master the skill of producing products cheaper, better, and faster, it has become exponentially difficult over time to compete on quality or price alone. Seth Godin alludes to this shift when he states, “The future feels a lot more like marketing — it’s impromptu, it’s based on innovation and inspiration, and it involves connections between and among people — and a lot less like factory work, in which you do what you did yesterday, but faster and cheaper.”
Thomas Friedman also covers this economic shift quite comprehensively in his book, The World is Flat, in which he discusses the history leading up to this newly emerging global economic model and why it’s important to be aware of the larger-scale changes taking place around us that are substantially affecting the way we do business.
In order to capitalize on these recent economic and marketing industry changes, the only way to truly approach marketing today is from a holistic business perspective. Marketing as a discipline needs to be understood from the whole picture of the business and integrated into every aspect in order for a business to remain relevant, engaging, findable, talkable, and most of all, a force to be reckoned with.
Interested in Learning More?
The Reno-Tahoe American Marketing Association can help you to stay on top of the latest trends with its upcoming third annual Marketing Workshop, to be held at the University of Nevada, Reno Joe Crowley Student Union on March 26, 2015 from 2 to 6 p.m.
In year’s past, the workshop has hosted speakers such as NCET’s own Dave Archer, recent NCET luncheon speaker Dr. Bret Simmons, Noble Studios’ Jarrod Lopiccolo, among others. Together, small business owners, professors, and marketing professionals will share the latest learnings and insights in marketing in this ever-evolving, quickly changing field.
For more information about this year’s event, including the full lineup of speakers, visit renoama.com.