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10 Modern Marketing Tools For Marketing Professionals

The importance and share of the service sector in the economies of most countries have led to the characterization of the world’s economy today as service based. For a long time now, the growth of the service sector has been considered as indicative of a country’s economic progress and development.

10 Modern Marketing Tools For Marketing Professionals

The world’s number one economy, the United States of America (US), is predominantly a service economy. Services include all economic activities whose output is not a physical product or construction, is generally consumed at the time it is produced, and provides added value in forms (such as convenience, amusement, timeliness, comfort or health) that are essentially intangible concerns of its first purchaser.

The service Industry include: transportation services,  communication services, wholesale and retail trade, financial (banking, insurance, real estate etc), tourism, health, car wash and auto repair services. Others are fast-food outlets, advertising agencies, management consulting, educational, barbing and hair salons, etc.

Characteristics of Services

Marketing mix for services

The service marketing mix elements, like the physical product marketing mix variables, consist of Product, Price, Place and Promotion. However, in addition to the traditional four (4) Ps of marketing mix, the service marketing mix has three (3) extra Ps namely, People, Process and Physical Evidence.

PEOPLE: Human beings are a very important resource in the provision of service. The interaction between service employees and customers is very important for an efficient service delivery. Therefore, efficient staff recruitment and training to acquire the right caliber of staff is very important in creating a competitive advantage.

Quality service depends very much on the skills, attitudes and behaviors of employees towards customers. This is why many companies today train their staff on interpersonal skills and customer service for customer satisfaction.

PROCESS: This is the actual procedure, mechanisms and flow of activities through which service is delivered. The process used to deliver the service are very important in quality service delivery. One bank is noted for quick and efficient teller service delivery, while the other is not. What are the systems the more efficient bank put in place to enable that efficiency?

You prefer one fast-food outlet to the other. What are the things that your preferred fast-food outlet operator provides that makes you prefer it? The systems provided by the service provider, which make for greater efficiency in service delivery, are the process.

See Also: Causes of Unethical Behaviours in Business & Suggestions for Improving Them

PHYSICAL EVIDENCE ( Physical Environment): This is the environment in which the service is delivered, and where customers and the organization interact, as well as any tangible component that facilities performance and communication of the service. Physical evidence is about where the service is being delivered from. It is particularly relevant to retailers operating out of shops. This element of the marketing mix will distinguish a company from its competitors.

Physical evidence can be used to charge a premium price for a service and establish a positive experience. For example, all hotels provide a bed to sleep on but one of the things affecting the price charged, is the condition of the room (physical evidence) holding the bed.

Customers will make judgements about the organization based on the physical evidence. For example, if you walk into a restaurant you expect a clean and friendly environment, if the restaurant is smelly or dirty, customers are likely to walk out. This is before they have even received the service.

The service marketing mix involves product, price, place, promotion, people, process and physical evidence. Firms marketing a service need to get each of these elements correct. The marketing mix for a service has additional elements because the characteristics of a service are different from those of a product.

MODERN MARKETING TOOLS

By definition, marketing tools are techniques and materials used by those who are involved in the promotion of goods and services. Therefore, modern marketing tools are electronic devices used to drive direct sales via electronic commerce.

At present, marketing has graduated from the traditional methods of communication to the most advanced means of getting to its target market. The techniques used in this present age is what we refer to as modern marketing tools. Several scholars looked at modern marketing tools from various perspectives. Ian Lurie (2014) came out with forty-three (43) tools for modern marketers. Will Davis (2013) divided modern marketing tools into five classifications. But we shall be looking at modern marketing tools from ten very important perspectives.

1.) Corporate Website

This is one of the basic modern marketing tools for marketing professionals. It includes tools like customer relationship management, email marketing, web analytics, marketing automation and more. Modern marketers may work with three different customer relationship management tools, four different email tools, four marketing automation platform and a host of different content management systems.

2.) Website Content Management System (CMS)

A content management system is an essential tool for modern marketers. It is a platform for designing and launching a website. It is sometimes built with WordPress which serve as a great, easy-to-use tool with a deep community of support and plugins to extend functionality. With content as a key driver of marketing, an easy-to-use well supported content management system is a must have for modern marketers.

Related: Common Reasons Why People Buy Products And Services

3.) Blog

This is another essential tool for modern marketers in this present generation. It helps marketers who plan to maintain or increase their investment in content marketing. WordPress is far and away the most popular and supported self-hosted blogging platform. Many companies choose to host their blogs with services like Blogger.

4.) Customer Relationship Management Tool

Marketing profession has a drive towards accountability and return on investment focused marketing. Effective marketers need to know as much as they can about customers in order to find more like them. For modern marketers to understand the activities that drive not just top-of-funnel leads but leads that convert to customers and the different Naira values those customers represent.

It is critical that modern marketers are armed with customer relationship management tool. You can buy customer relationship management tool with a credit card without information technology involvement. Players involved in the space include Microsoft dynamics CRM, Sugar CRM, Sage CRM, Oracle and countless others.

5.) Marketing Automation Software

This is another very important modern marketing tool for present day marketers. It is used by business-to-business marketers working with long complex sales cycles involving multiple decision makers. It helps modern marketers to prove their return on investment.

Marketing automation, including popular platforms like Eloqua, marketor and pardot. Marketing automation involves the proper marketing planning, information technology and sales alignment and a significant amount of content to help generate leads, qualify leads, nature leads and finally close leads.

6.) Web Analytics

This is another tool used in modern marketing. It is a device used for tracking, a web analytics package is key to understanding user behaviour, what is working on your site, where traffic is coming from and how to optimize/fix all of this. This tool works with a few enterprises that run tools like omniture, but far and away we see Google Analytics as the choice for most organizations.

7.) Adobe Fireworks

This is also a modern marketing tool used for modern marketing. It is used for editing images. It is web-focused, with a nice set of compression tool and everything you need to manipulate images, or even gasp or create some. Fireworks runs on Mac and Pc. Its pretty feature – heavy, but you can focus on the stuff you want.

8.) YouTube

This is a modern marketing tool used by marketers in today marketing  practice. Gideon (2013) posits that there has been an increase of interest from traditional businesses to YouTube. YouTube statistics show that more than one billion people visit their site each month. Presently, there are over six billion hours of video watched each month on  YouTube.

The use of YouTube shows us wheree our potential target audience is. Peters and Jallip (2012) propose that YouTube offers for business are exposure and relationship building. Once exposure is built on  YouTube, you then have the choice of how you want to redirect that attention. The moment you have built exposure and relationships, the next step is to see how the number of subscribers affect actual video views.

YouTube is the first place to look for what’s new. The more subscribers you have on your YouTube channel, the more chances you have of them seeing your video content in their subscription feed. This increases your chances of getting viewed. YouTube is a very important tool used by modern marketers, it looks at subscribers count as a factor to help in deciding whether the content is relevant.

9.) Twitter

This is another modern tool used in marketing. Twitter is an online social networking and micro-blogging service that enables users to send and read tweets which are text messages limited to one hundred and forty characters. Registered users can read and post tweets but unregistered users can only read them (Dorsey et al 2007). Users access twitter through the website interface, short message service (SMS) or mobile device application.

Twitter is a tool that discovers what is going on right now. Many users return to Twitter’s homepage a few times per day just to see what is trending. Twitter yields much higher engagement rates thank standard online advertising. It helps if you have some kind of news, product launch or associated event. For example, coca-cola earned high engagement during the 2019 world cup whenever a goal was scored, coke would unleash a celebratory tweet. Again, the 2014 world cup between Nigeria and Argentina, Guinness unleashed a tweet on their products and its results to higher engagements. Higher engagement results in higher customer acquisition which leads to higher sales and profitability.

10.) Facebook

This is an obvious tool used in modern marketing practice. It helps in increasing customer reach through releasing advertisement on a product reach generators (Drell, 2012). Facebook as a modern marketing tool is determined by three basic factors – affinity, popularity and time. The affinity is based on how often a fan has engaged with the Facebook brand content in the past, including page visits. Popularity is determined by the type and quantity of engagement that your post receives (e.g likes and comments). How long your post decay (time), as your content ages out and engagement wanes, it becomes less relevant and therefore less likely to appear in a lesser newsfeed.

Understanding this algorithm is the first step for brands to improve their content strategy on Facebook. The working of a Facebook looks very wonderful, any action expressed on Facebook could be a branding opportunity (Drell, 2012). If a customer enjoys a particular brand of product, then all of his Facebook friends and fans will see that you enjoy the brand and perhaps they will even mark their approval with a like or comment.

With Facebook as a tool, one do not need to do anything to initiate the action except to consume the brand. Facebook helps in giving free exposure by having users run its service for you. This continuous exposure by friends and fans on Facebook will increase product awareness resulting in a multiplicative effect on product information and popularity, which in turn influence sales, customers loyalty and profitability.

Conclusion

There are other modern marketing tools not mentioned here but entrepreneurs must avail themselves with the use of these modern marketing tools in order to equip themselves with the opportunities which abound in the use of these modern facilities in the entrepreneurial context.

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