Forbes highlights five trends for marketers in 2018
To win in the game of marketing you should keep your eyes open and observe the trends that are going on. Also you need to pip into future to know what tomorrow has for you.
To help marketers prepare strategies for the coming year, Forbes contributor Bilee Howard has listed five trends to expect in 2018.
Howard says, “As plans get underway for 2018, what follows are the top 5 things CMOs should be aware of as we inch closer to the new year:
1. We are in an experience economy. Antiquated rules of engagement no longer apply.
The old rules of business were ruled by what was dubbed TQM, or Total Quality Management. Winning companies would win or lose based off of their ability to deliver a quality product seamlessly and consistently. This, in their view, would drive customer loyalty and assure a category or market leadership position. Today, and for the past decade actually, largely in a Jobsian shadow, we have rapidly left that notion behind in lieu of the age of TEM, or Total Experience Management. As commodification has been rampant across industry sector, with offerings based on price point becoming increasingly difficult to differentiate, winning experiences have become paramount, and the ability to drive true engagement has become the Holy Grail, whether you are selling apples or automobiles.
Consequently, marketers are being tasked with crafting interactions with customers instead of mere transactions. To do this, they must not lead the customer journey with the “sale” but rather the carrot that will drive to it. That carrot must be translated into the ability to transform storytelling into a vital business competency that takes the why and who of the brand and translates them into experiences that create lasting emotional connections”.
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