Marketing 2.0

Marketing 2.0, a term that became popular in 2005, refers to a new way of marketing based on use of social media and the internet. It is the idea that companies need to find and address the needs of the consumer in order to prevent becoming irrelevant or loose credibility. It also focuses on dialogue with customers, instead of just one way communication.

Before marketing 2.0, traditional marketing was the main way that businesses were able to reach their customers.This is done through one way communications where the people cannot respond back to the advertsement. In a video below, this can be described as the company using a megaphone. Traditional marketing would suggest that the more megaphones, the more the company is targeting the listener. However, more megaphones don’t increase impact and instead can infuriate people. Marketing 2.0 recognizes that conversations are important in promoting a product. Brands are built by communities, not companies, and so the input of the community is very important in this aspect.Trading in the megaphone used in marketing 1.0 for social media marketing tools used in marketing 2.0 is a key concept of this new way of marketing. Social media tools used are commonly Facebook, twitter, linkedin, and instagram. Selecting the right tools will allow for the specific community to be adequately targeted.

 

 

 

One example of Marketing 2.0 done well is Airbnb. This companies goal is to set up overnight accommodations throughout the world. This company is located in California and now has 1,500,000+ listings in 34,000+ cities worldwide. They decided to perform a global social experiment in January of 2015 called #OneLessStranger. The company asked people if they would perform a random act of kindness for a stranger and post it to social media using the hashtag #OneLessStranger. This video was made in order to promote the campaign.

The campaign was very successful, and led to 3 million people worldwide talking about it in the next weeks.

McDonald’s also follows this model, specifically targeting local communities with their food. By targeting the specific culture a certain country has, they are able to increase their earnings. For example, McDonald’s introduced the McArabia, a flatbread sandwich, to its restaurants in the Middle East. In the Philippines, there is now McSpaghetti. In France, there is macaroons. Each of these are appealing to the specific food preferences of the people in that country.

Imagine While viewing a TV add for a new laptop computer, a consumer uses her phone and searches in google “laptops”.  The first pop up is a paid link for apple laptops and reviews of them. On the way to work, she begins realizing billboard advertisements for laptops she never noticed before and on the side of her Facebook advertisements pop up with the newest laptops on the market. Then, she and finally heads into the Apple store to try out computers and buys one. This is Marketing 2.0 and the use of social media in order to sell a product. It is the continued exposure to the specific target audience that makes this idea so successful. With social media drastically changing in the past few years, marketing and advertising has since changed with it for the better.
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