Today on 2018 Marketing Trends, we discuss how the upcoming new year is bringing Canadians a small mass of business and social changes, including new and anticipated marketing trends and techniques. This analyst has been given the task of exploring upcoming new media and marketing trends, but in order to do that, it is important to first investigate the biggest 2017 marketing fails.
The Biggest Fails
What the experts say
Sociologist and Marketing MSc Bill Tziakos states that marketing companies tend to constantly check their number of views or clicks as a way to measure the success of their brand. He suggests that marketers should instead be keeping more careful track of actual revenues that are coming in and conduct data studies to understand the fluctuations in consumption. Even though clicks and views are a good way to update strategy, previous years demonstrates that it is actually not the most important task if the goal is increased financial revenues.
Empathy Towards Your Audience
Something else worth thinking about is the audience. Is everyone included in companies’ advertising and marketing strategies? Do companies realize that low-income families are exposed to their strategies? Marketers appear to make certain assumptions about the society or audience they are trying to promote their brand to. Dwayne Winseck from Carleton University said in a recent article about the wireless brand competition that corporations should be focusing on extending the market to those who fall on the lower end of the income scale. Perhaps, then, we will be seeing a lot more maverick brands and employees in the business realm. In the marketing world, a maverick is someone who rejects traditional ways of doing things says Brenton Hayden from entrepreneur.com. It is no longer productive to hire people based on old, limited standards. There needs to be more diversity on a team because the competition is going to be high in 2018 and it’s going to take a maverick with different ideas to help the brand dominate the market. Employees should now be encouraged to take risks and think outside of what traditionally works for a company. Personally, I would look forward to seeing how this strategy might pan out for news companies such as The Sun and the Ottawa Citizen.
The main thing that seems to stand out is that corporations need to listen to their audience and stop ignoring them. Low-income families are an important part of the market as well and should be treated as such. While traditional strategies and ways of doing things have worked in the past, we are living in a much more connected and media literate society. Therefore, employees need to be educated on how to think critically and feel comfortable with taking risks. There also seems to be a need for better awareness of current events that have deeply affected society and therefore double or triple check every single tweet before posting. Once that Tweet goes viral, there’s no going back!