During the last few years, the entrance of new and multiple tools in marketing have created hundreds of new terms for us to learn. So, what are these terms of new age marketing ?
You could many more terms than the ones given, however to to keep it brief I have drawn up a list of the 10 marketing terms that you should know today if you wish to master digital marketing: Social Media, Blended Marketing, 360 Degree Marketing, BTL, Experiential Marketing, Green Marketing, Social Marketing, Lovemark, Neuromarketing, Digital Marketing.
Social Media, also popularly known as social networks, is a set of media that promote social interaction, using very accessible and scalable web publishing techniques in order to disseminate and transform monologues into dialogues. Some of the most common tools are Twitter, Facebook, YouTube, LinkedIn, Blogger, Impulse, WordPress, Flickr, and many others. Choosing the right tool according to your particular objective, as well as knowing how to listen, engage and influence communities, is the true challenge of Social Media. I also recommend reading the views of the genius Michael Porter on Strategy and the Internet. A good example of how to use Social Media marketing we seen with Pepsi Refresh Project.
The mix of online and offline marketing actions is called Blended Marketing. A mix of complementary advertising formats should be used between them with two clear objectives: increase value and profitability.
360 Degree Marketing
360 degree marketing is also known as comprehensive, holistic or ubiquitous marketing. It is called this because it is a strategy that combines all the means by which the respective target audience can have contact with the company in a single campaign. It goes beyond blended marketing, integrating all the possible tools in a single marketing campaign. The problem with this strategy is its high cost, although it definitely has a huge impact and achieves high publicity.
This term is one of the most used in marketing in recent years, however, few know exactly what it encompasses. BTL is a set of marketing techniques consisting of the use of non-mass forms of communication aimed at specific segments. Today we can find many strategies that are part of this BTL concept, such as Ambient Marketing, Guerrilla, Direct Marketing, Experience Marketing, among others.
The objective of experience or experiential marketing is to create an experience, which can occur before or after the purchase of the product or service; or better yet, in all three circumstances. This experience alludes directly to the senses and is different to that obtained through a simple product purchase.
According to the American Marketing Association, Green Marketing is a type of marketing where the company's products are presumably safe for the environment. With the emergence of social responsibility and the concept of sustainable development, the environment has gained unprecedented relevance. The largest brands on the planet are betting at least part of their product portfolios to this type of marketing, which not only touches advertising but also production, POP, logistics, recycling and other processes in which marketing is involved.
This is about activities aimed at modifying opinions, attitudes or behaviours in order to improve a social situation. This marketing is commonly used by companies and NGOs. The social problems caused by big brands was notably seen in 2000 when Naomi Klein's NO LOGO book accused large corporations (such as Nike and GAP) of using child labour. Since then, brands have taken far more care of the social policy of their brand, trying to convert their virtuous behaviour into a differential advantage.
Lovemark is a term coined by Kevin Roberts, CEO of the prestigious global advertising agency, Saatchi & Saatchi and author of the book "Lovemarks, the future beyond brands." According to Roberts, Lovemarks are those brands that generate an emotional connection with consumers, provoking loyalty beyond reason. Apple, is an extraordinary example of this.
Neuromarketing is the application of neuroscientific techniques in marketing, studying the effects of advertising on the human brain with the intention to predict consumer behaviour. Although this is one of the most talked about techniques today, there is still a lot of progress to be made in this field as we continue to understand how the human mind works.
Also known as Online Marketing, this is the use of digital resources and tools in order to plan, direct, execute and evaluate marketing strategies. This type of marketing gave rise to the 4 Ps: Personalisation, Peer to Peer, Participation and Predictive Modeling.
These are the terms that any professional marketer should know, even if only a little; these are the terms that are defining the directions of brands today. This is today's marketing.