Four ways in which the marketing profession is changing (or has it already changed?)

Here are the four ways in which the marketing profession is changing:

1. Marketing moves toward ‘agile marketing’

The marketing environment is becoming increasingly complex. At the macro level, new technologies are introduced to the market nearly every day and new features are incorporated into existing technologies. Marketers have to figure out how to incorporate emerging technologies into their strategies and marketing tactics.

At the micro level, consumer behaviour is constantly changing; how consumers shop for products and interact with brands. Such changes are intensified by technologies. Marketers have to use those technologies throughout the consumer journey to facilitate the consumer experience.

The complexity of the marketing environment coupled with the speed at which changes in technology and consumer behaviors take place are the biggest changes marketers face. To be able to keep up with those changes marketers have to adopt an agile mindset and be able to quickly adapt to the changes.

2. It is more than sell, sell, sell

Well-being, sustainability, and Net Zero are not buzzwords.

Consumer well-being has to be at the forefront of marketing activities. For example, marketing can influence consumer well-being by providing information and bridge the gap between ‘information haves’ and ‘information have nots’. Marketers should prioritise consumer financial well-being. This is particularly important while serving younger consumers who may fall into a trap of ‘buy now, pay later’ or other non-viable payment options.

Taking care of consumer well-being will support sustainability and the Net Zero agenda. Reducing the emphasis on selling and focusing on satisfying needs, will limit unnecessary consumption, which, in turn, will reduce the negative environmental impacts of product production, consumption, and disposal.

For many firms, a shift from selling to well-being will be a difficult yet inevitable choice. To facilitate a smooth transition, marketers need to clearly communicate the value of well-being, sustainability and Net Zero.

3. Is data a ‘new gold’?

Data is everywhere. Marketers already recognise the value of data and they strive to adopt a data-driven approach to marketing where data underpins their core actions and business innovation.

Marketers need to develop data literacy skills to be able to use data effectively. Marketers need to know how to access data and understand how tools such as AI work so that they can effectively incorporate it into their actions. While many marketers prioritise quantitative data, they seem to overlook the value of visual and text data which is readily available and much easier to interpret.

Indeed, there is much more data than meets an eye. Before harnessing the power of data marketers have to consider data ethics and question the notion of ‘data as a new gold’.

4. AI is here to stay

OpenAI is here to stay, and marketers have to learn how to embrace it. Currently, marketers seem to be using GenAI tools such as ChatGPT for content writing and curation which can greatly improve their job productivity. However, efficiency is not everything.

Marketers need to ask bigger questions concerning GenAI use- what are the implications of AI-generated content on consumers and brands? Ethical, transparent and responsible AI use, is the only way forward.

While marketers focus on GenAI, they now need to think about the future. The future which is dominated by Agentic AI - autonomous systems capable of making decisions on behalf of consumers. How can marketers promote products and brands to Alexa and other voice assistants and recommendation agents?