TV, Newspaper, Radio, Posters, Magazines and billboards were the primary marketing platforms until the advent of internet and digital media. It took a while for social media platforms to grow and acquire billions of people as users. Other digital media platforms also took some time to come to a point of standardization.
Billboard ads are highly competitive in big city centers
All social media platforms today have 2 faced approach where on one side you have a user who uses the platform, generates data and enjoys the free features offered by the platform. And on the other side you have businesses, organizations or a content producer using the same platform for building audience and targeted marketing.
Similarly, all mobile OS platforms provide 2-way functionality where on one side the user enjoys the device and all the applications that run on the device, and on the other side, tech companies or application developers who makes Apps for sharing or selling to other people on the app store.
The best thing is that all these developments have game changing effects on the future of marketing and advertising in a very positive way. First of all, the marketing platforms themselves are now companies, operating on the base infrastructure i.e the internet, which is very different from let say a TV or Radio where the platform itself is not an open system and you would need a lot of investment, licenses and other resources for someone to build their own network and audience.
Today's marketing strategies involve many components
Today you can learn coding for free on Youtube or any other website and create your own application or website, which if able to gather enough public attention and support, could easily become a viable marketing space.
As a result of this new openness in the arena of marketing platforms, there is fierce competition amongst existing platforms which results in newer and refined features for customers at a cheaper price, which is of course very good for the consumer.
We live in a time where you have diversified marketing platforms for every niche. e.g If you are a restaurant, you need not spend too much money on a TV or newspaper ad, you can simply get yourself listed on any of the growing food delivery platforms which already has a huge customer base looking to order food through their mobile phones and can also directly place an order on the delivery platform.
No. of smartphone users in the world is climbing rapidly
So what this means is that the ways in which people approach marketing and advertising is changing rapidly, because the platforms themselves are evolving. The big question for a marketer then is : Have you optimized your strategy to take least amount of resources and produce maximum impact?
Using the right content, on the most appropriate platform, with the right targeting is easier than ever before!