This decade we witnessed some of the coolest Marketing Innovations, ever in being since the entire human history.
The ubiquitous influence of Internet technologies has inspired marketing practices to evolve and mutate, resulting in some of the greatest marketing innovations.
The volatile business environment necessitates the experiments and technology enables the practitioners to achieve so, the technology available today flawlessly permits the content to flow omnidirectionally and through cross-platforms and in multiple media formats.
Here we list some of the best marketing innovations from this decade which have helped organizations to address some of most sought-after challenges which are posed by the volatile and changing business environment.
#1- Gamification
Define:-
The concept of Gamification has emerged as a significant trend in recent years. Gamification uses game mechanics and game design techniques in non-gaming context – it’s a powerful tool to engage employees, customers and the public to change behaviors, develop skills and drive innovation.
Helps:
Business:
Application of gamification strategy helps increase engagement [PROVEN]
Consumers:
Enhanced overall experience and perceived value
Quick facts:
Around $100 million was spent on gamification in 2010.
Could rise to $2.8 billion by 2016.
Examples:
Incentivizing social sharing / encouraging certain Act by using
- Achievement “badges”
- leader boards
- Virtual currency
Business doing “GAMIFICATION” RIGHT!
- Teleflora
- Dropbox
- Step2
- Nike
#2- Group Buying [Re-birth]
Define:-
Group buying, also known as collective buying, might have been around for centuries, and has its origins in places like China and the manufacturing world, where it is an age old practice of wholesalers to offer large discounts depending on the volume of a buyers order, but it is the post Internet Era that saw Group buying in a whole new avatar, In today`s market place, which is indeed a global marketplace, the reach of business is far extensive.
This widespread internet adoption has allowed group buying giants like Groupon and LivingSocial to flourish in today’s marketplace. Group Buying allows businesses to offer products and services at significantly reduced prices on the condition that a minimum number of buyers would make the purchase.
Helps:
Business:
Reach broader audience without substantial advertising spent
Consumer:
[SAVINGS]As a group buying crew member access significant discounts on product and service offering which as an individual buyer would not have been possible otherwise.
Quick facts:
Online group buying market surges above $530m in Australia.
Over 5.5 billion$ is the group buying industry value in china.
Leaders [Group buying]
- Groupon : Launched in 2008, the Chicago-based behemoth had 83 million subscribers as of March 2011 and is in 175 North American markets and 43 countries. If a critical mass purchases the deal, it’s on. As with other sites, Groupon subscribers receive daily e-mails from the site or through Facebook and Twitter.
- LivingSocial: The second-largest online coupon site, LivingSocial reaches about 26 million people a day, operating in 13 countries. The site targets a largely female base by offering family-friendly discounts and advertising on women’s lifestyle sites and mommy blogs. LivingSocial offers one gigantic deal a day with discounts of up to 90 percent at local restaurants, bars, spas and theaters. Its mobile app helps customer’s access local deals from wherever they are for instant gratification.
- Others :
- Tippr
- Scoopon
- Thrillist
- Yipit
- Dealmap
- jasmereCrowdmass
- BuyWithMe
By: admin