All Companies involved in media and communications are being buffeted by the continuing growth of the internet. Times are changing, most new era marketers understand the power of promotion and branding as well as the benefits of low costs real-time connectivity offered by the Web.
Traditional media — broadcast and cable TV, print, radio, and outdoor — will not be as profitable in the future as it has been in the past. Digital media, already the fastest-growing sector of all media channels, will continue to take more share. Currently, it comprises only 7% of global advertising spending, but change has started & it won’t be a surprise that within a few years’ digital marketing & promotion will surpass combined spending in traditional media.
We see lots of web marketing tools. We talk about Google, Yahoo & MSN for whatever big or small, be it buying a house to watching a movie. Lots of decisions are being taken with the help of the Internet.
So now it’s a challenge for organizations to survive in this digital age. We are in the middle of the digital age & which has brought the competition to the next level. Now you are not just competing with your neighbor, the whole globe is your playground.
Now the game is at a different level, so companies need special tactics to survive in this digital world. Old techniques can no longer be applied as the playing field has changed altogether.
Organizations need to establish themselves as brands, only then they can survive in this digital world, as loyal customers will decide the future of any company. Better Services & products only can no longer keep you in the market, as someone else will replace you with better service & product pricing. So the key deciding factor will be to establish oneself as a Brand in this true digital marketplace.
Organizations need to learn that it’s not easy to establish themselves as a Brand in this digital age. Though it is universal that you need to provide world-class services & products but these products & services need to be aligned to your brand image.
The brand is just a customer perception of your service & product & it requires investment & strategy to stay in the customer’s mind & once it’s established you need to spend to keep it there. Once that is done your products & services could be distinguished among the crowd.