Marketing in 2021, What’s changed in the last 10 years?
The last 10 years may have gone by very fast for some people, but the marketing world has
changed drastically thanks to the internet and a new generation of consumers.
Today those looking to market a service often turn to the internet. 10 years ago, those same people turned to newspapers, radio, and television. In 2010, fewer people logged on to social platforms on a daily basis. The demands simply weren’t as high. Today, businesses that fail to reach a digital audience are saying goodbye to their consumers. A good example of this is the fall of Blockbuster to its digitally-focused competitor Netflix.
10 years ago Facebook was still a baby. People didn’t live and rely on social media for news and communication like they do today. Social media was seen as something for the kids, a game to play even. Fast forward 10 years and social media has become the center of marketing and ad campaigns. In 2010 Facebook’s ad revenue hit $1.86B as compared to $69.7B in 2019.
The consumers in their late teens and 20’s making money today were not making money or not making as much money 10 years ago. The millennials aren’t entry-level hires anymore and have more spending power, while Generation Z is started to enter the job market. These new buyers are more attracted to tools like video marketing and trust social influencers over traditional celebrities.
Consumers today don’t want to feel like they are being told what to do or what to buy. Rather, they want to know what is going to help them and what brand cares about the same causes they care about. The ‘push marketing” that worked 10 years ago, attacking other brands simply doesn’t work anymore. Rather, “pull marketing” and developing genuine relationships over time with the customer has proven to be a winning strategy in today’s market.
A lot has changed in 10 years! Contact Melo Multimedia LLC to help your business stay relevant to trends and video marketing strategies that will keep it competitive.