The evolution of marketing
The evolution of marketing
In the post-war period of the 1950s, there was a great demand for goods. Here the focus of marketing was on production to meet the high demand. The 60s were defined by sales-oriented marketing. Radio, TV and print advertising as we have come to know it over the past 50 years began to triumph in the 1960s.
With increasing competition, advertising moved forward more and more at the center of marketing. With privatized television and the increasing number of print publications, the frequency and amount of advertising increased extremely. So it was no wonder that advertising agencies sprouted like mushrooms in the 80s and 90s.
The increasing influence of the stock exchanges and stocks on company decisions and the resulting shorter product life cycles also spurred the advertising industry on. As early as the 1990s, this led to increasing ignorance about advertising. To compensate for this, new marketing options such as PR, event marketing and product placement were established, which were supposed to support classic below-the-line advertising.
And then came the internet.
Advertising agencies included the new medium as an additional channel in their “reach portfolio”, but did not understand until a few years ago that marketing on the Internet offers completely new possibilities in terms of measurability and interaction.
The beginnings of online marketing , which I also like to call ” Online Marketing 1.0 “, were replaced by ” Online Marketing 2.0 ” or Performance Marketing around 5-6 years ago . The coverage currency of the thousand contact price has been replaced by Pay-Per-Click PPC models.
With its AdWords advertising system, Google is the pioneer in PPC advertising and has dominated the market for years. Search engine marketing in general (SEO) has become the dominant online marketing discipline over the past 5 years.
Due to the development in recent years, online marketing is also becoming more technical and analytical. The classic advertising agencies, which had the focus on creativity and conception, were no longer able to meet the new challenges. The time for online marketing agencies had come.
In online marketing, creativity has been pushed into the background in favor of web analysis and new tracking methods. The fact that the Internet can do more than conduct a one-sided monologue was only discovered with the advent of Web 2.0 and faster Internet connections.
Initially, new marketing disciplines such as viral or word-of-mouth marketing that were ignored by the masses saw the light of day. Here again, creativity is definitely in demand.
Over the decades, the classic marketing channels have been supplemented by new ones. But the focus on conveying advertising slogans, USPs and information about brands and products remained almost the same until after the turn of the millennium. The following infographic is intended to illustrate the further development of marketing from push to pull or above-the-line to below-the-line from the 1950s to today. The allocation of the individual epochs in the timeline does not claim to be complete.
Challenges for the marketing of the future
The development over the last 50 years clearly shows the increased degree of complexity in marketing. While the focus was on the production of creative campaigns in the great age of push advertising, technology and analysis became more and more important through online marketing .
In addition, over the years a large number of new marketing channels and sometimes very complex new marketing disciplines such as SEO, SEA, web analysis or related areas such as conversion optimization, which require a high degree of specialization.
The art will be to identify the methods relevant to the respective project and to bundle competencies in the areas of creation, analysis and technology for professional implementation.
Furthermore, a major task will be to relate the individual marketing measures to each other and to record the contribution of each individual measure to the whole (multi-channel tracking, attribution modeling). Mastering these amounts of data and interpreting them will give the job description of the marketing analyst new weight (keyword: big data).
So far, every marketing discipline has done its own thing. In summary, the marketing of the future can be described with the following attributes:
- Holistic / multi-channel
- Creative / emotionalizing
- Professional / high degree of specialization