Let us first differentiate three terms. Traditional marketing uses print ads, billboards, calling cards, etc. Online marketing and digital marketing are oftentimes interchangeably used. Online marketing (OM) creates awareness on the web. Digital marketing is under OM and currently includes mobile marketing. Marketing using CDs is also in this category. Personally, this a sophisticated combination of traditional and online marketing.
Now, let’s look at the most famous bubble bursts. Remember the dot.com, housing, technology and real estate market crashes? These investing phenomena’s lifecycles are just like that of soap bubbles’. They rise tantalizingly high then eventually pop. Caused by exaggerating something’s importance, this now affects traditional marketing. Last year’s traditional marketing expenses fell 160% favoring online.
When you order pizza, you check Google for the number. In whatever form, online presence is important.
Hundreds of companies follow business models revolving around online marketing. This accounts for their more than $500 million annual revenue.
Another sample of online’s power was Newsweek’s decision. This news magazine boldly switched to online publications. This, after an unbelievingly 79 years of doing print.
Hand in hand with technology, online marketing evolves. Marketers know what these online tools are and use them. Websites, social media, banner ads, YouTube…they’re never ending.
Because of this overuse, will online marketing also burst? Almost all businesses are doing online marketing. This is the trend. However, like all trends, this one, might not last. So, how do we do marketing?
What Caused the Online Marketing Bubble
Let’s delve into what happens how bubbles form then burst.
First, how are the players and the playing field? Take for example:
- Banner ads. Reports say that banner ads are outdated. In fact, sixty percent of people have adblockers. Many are in fact paying extra for ad free services.
- Reports saying online content marketing reigns.
- Reports saying online marketing already died.
- Prediction that we are looking at three to seven years. Then, online marketing dies.
It is all very confusing. If online marketing isn’t promising, why is everyone doing it? What is really the status and future of online marketing?
It’s easy to have online marketing get out of hand. However, marketing and/or advertising will never go. In traditional or online form, they’re staying. Marketers forget overselling is overvaluing. We know how annoying one over talkative salesman can be. Imagine everyone around you being talkative salesmen. This is what happens now when customers go online. Left, right and center, everyone is selling something. Just when you are leaving the page, there’s that pop-up. In-your-face marketing is the culprit. That forms the first bubble.
Second, many hop unknowingly on the online marketing wagon. Who could fault them? It’s quick, easy and fast marketing. For a time, it proved effective. With studies lacking on the best tool, it’s now useless. Marketers never bothered to foresee effects of their online strategy. The effect is like selling insurance to people you know. You get ignored the moment you show up. Everyone knows you’re about to sell them something. Sure, no one could be selling them insurance. That doesn’t mean they’ll buy the first one that comes.
Marketing isn’t just plainly being aggressive. You need to be creative and downright scientific. Know what converts and constantly be testing your website. Study, carry and follow up on results of your marketing.
What to Do to Prevent the Online Marketing Bubble
- Make your marketing a mix of traditional and online media. Integrate them. Then, streamline your chosen online and traditional marketing. Create something your target market will surely see. Don’t forget to make sure they’ll be happy seeing it. Unhappy viewer makes no customer.
- Put your loyalty programs with your brand awareness programs. Content marketing and coupons can appear on one page. Maximize your online digital exposure tastefully. It is still the easiest and surest way for attention.
- Mobile media, as an alternative, is starting to deliver promise. Mobile apps are so far, with the best potential. A well-thought-out digital marketing, using mobile app now, is priceless. It adds value to many markets. There are limitless lead generation opportunities for brand development. However, a mobile app’s existence should prove a necessity. There are markets who wouldn’t care looking for any app. Because of mobile apps’ effectiveness, they’re heralding digital marketing.
- Lately, customers lost trust on anything advertised online. Many were false advertisements anyway . Marketers are now working hard on getting good metrics back. Moving forward, expect unintrusive ads and rich content. Watch out for different delivery mechanisms, too.
- Artificial intelligence for consumer strategies is seen as another hope. It’ll measure every marketing move’s relevancy and effectiveness.
- There is a forecast for more audio-driven experiences. This is for voluntary customer engagement. Amazon Alexa, Google Assistant and Apple’s Siri? Yes, they are the perfect working samples.
All mentioned ways could stall a future marketing bubble. All bring about the dawn of effective digital marketing.
But is digital marketing really different from online marketing? Digital marketing is understated and quick. It’s effectiveness can be easily tracked. They are also cheap. Let’s not forget online marketing also started out like this.
I believe the bubble will still burst. Yes, even if some companies are wisely using digital marketing.
Marketing nowadays is no longer about innovation or budget. Customers expect quality hard work and finesse in advertising. Hard work is easily done. It’s finesse that takes time to perfect. In any advertising – no overuse, no abuse. No bubble bursting. No market crashing.
Hope After Expected Meltdown
Ever since, in whatever endeavor, some people see what’s coming. Some don’t. A few intelligent ones expertly handle matters on their own.
But sure as all bubbles burst, there will be recovery. Some aspects of online marketing would be eliminated. Restructuring would happen. A thorough study on how the bubble started gets done. After that, amazingly, everything stays stable.
Take the case of the town crier. That guy who shouted his guts out for the news. Newspapers replaced him. Then, the radio took over. Afterwards, TV caught everyone’s attention. The Internet is everybody’s present medium. With the exception of the town crier, everything still exists. Each one found a way to survive after the offset. That exact town crier’s job might be extinct. However, don’t take for granted the local gossip. Isn’t the town crier and the gossip the same? The latter is only more composed than the former. This is what will happen to the current marketing bubble. After it bursts, things will only get better. However, the sooner everyone is aware, the better.
Surprisingly, things are starting to get better. The once thought of dead snail mails are back. Niche publications are making themselves felt once again. Many digital channels are weakening. Some traditional forms of marketing are back with a vengeance. Effective marketing practices are finding their way back. Everything is starting to balance each other out. We just have to wait a bit for online marketing. Then, get ready. We’ll have a perfectly working, cohesive, new age digital marketing.