Future of digital marketing
Author: Dhiraj Maske
MMS-34
1 . Digital Marketing Fundamentals
Hashem Aghazadeh , (2024)This chapter begins by explaining the key concepts of digital marketing, including its definitions, essential components, requirements, and the platforms used for its development. It then explores digital marketing management, covering aspects like market analysis, strategy, implementation, and management models. The chapter also introduces important frameworks like the SOSTAC marketing planning model and the RACE framework. Additionally, it compares digital marketing with traditional marketing and discusses its future trends.
2. The feature of social media in marketing
Gil appel(2020)In this excerpt, the authors discuss the role of social media in marketing, highlighting its ability to facilitate interaction and engagement between people and consumers. They focus on the future of social media in relation to marketing topics, drawing on academic research, industry insights, and popular trends. The authors identify nine themes, categorized by their predicted imminence (immediate, near, and far future), which they believe will shape the future of social media across consumer behavior, industry practices, and public policy. Within each theme, they analyze the current digital landscape, offer predictions, and suggest directions for future research
3.How business-to-business and business-to-consumer marketers can future-proof their digital marketing stratigies,”journal of digital & Social Media Marketing
Sharma manvee (2023)With the rise of new technology and changing consumer behaviors, digital marketing has evolved significantly. Companies now focus more on creating personalized experiences for their customers. Stricter data privacy laws are also shaping how marketers operate, pushing them to find creative ways to engage audiences while respecting privacy rules.
This article explores how businesses—both B2B (business-to-business) and B2C (business-to-consumer)—can stay ahead by using trends like e-commerce, AI-driven personalization, and privacy-conscious marketing. Through case studies, it provides insights on how businesses can adapt and develop strong digital strategies for the future.
4 . Preparing the tourism workforce for the digital future
Oced(2021)embracing digitalization in the tourism industry to build resilience after the COVID-19 pandemic. It highlights how digital transformation can enhance marketing, product development, and workforce skills. The report focuses on the role of digital technology, its impact on skills demand, and the government’s role in supporting digital adoption within the tourism sector. It also acknowledges the need for responsive national policies to address the diverse levels of digital maturity among tourism businesses and workers, and suggests policy considerations to prepare the tourism workforce for a digital future
5 . Preparing the tourism workforce in portugal for the digital future
Kirk plangger(2022)The tourism sector in Portugal, after a decade of consistent growth, faces a significant challenge due to the COVID-19 pandemic, as stated in an OECD report from 2021. As tourists return, the Portuguese tourism workforce needs to develop digital skills to effectively use new technologies and leverage opportunities in marketing and destination development. Businesses’ successful adoption of digital tools will be crucial for recovery and long-term resilience. While progress has been made, particularly in response to the pandemic, there is still room for improvement. The report examines current policies supporting digital skills and workforce development in the sector and suggests policy considerations to address digital transformation gaps, shortages, and opportunities, as well as to enhance governance mechanisms for the digital skills transformation of the tourism workforce.
6.Digital product innovation for the greater good and digital marketing innovations in communications and channels :Evolution,emerging issues,and future research directions
Varadarajan et al.(2022) in their work “Digital product innovations for the greater good and digital marketing innovations in communications and channels: Evolution, emerging issues, and future research directions” discuss the increasing importance of digital technology-based innovations for businesses over the last 25 years. These innovations have significantly impacted how companies market their products, how consumers search for and buy them, and the overall structure of markets and industries. This article examines the evolution of research and practices in digital product and marketing innovations, specifically focusing on innovations for social good and direct and mediated communications via social media and omnichannel marketing. The authors provide an overview of the field’s development, highlight current issues, and suggest directions for future research in these areas.
7.The future of digital technologies in marketing ;A conceptual framework and an overview.
Digital technologies are crucial for gaining a competitive edge in marketing and retail. However, marketing managers face challenges in strategically using these technologies and need to rethink their digital strategies. It is important for managers to better understand consumer attitudes towards digital technologies. Marketing strategists can use academic marketing insights to turn these challenges into opportunities for competitive advantage, leading to technological innovations that benefit customers, businesses, and society. This special issue includes articles describing some of these benefits. A framework is proposed focusing on how managers use strategic resources to leverage digital technologies. Insights from 16 interviews with senior marketing managers reveal three main themes: decentralized marketing, metamodern customer experiences, and marketing mechanization. The study concludes with a research agenda to encourage further research in this rapidly evolving field.
8. Digital Marketing ; Scope Opportunities and Challenges
Chandan Kumar et al( 2020) work, “Digital Marketing: Scope, Opportunities, and Challenges,” explores the evolving landscape of digital marketing in the context of internet reform and economic growth. The study highlights how consumer expectations have shifted, emphasizing comfort and service quality as crucial for product selection. It notes that businesses are adapting to these changes by developing suitable products and utilizing digital platforms to reach consumers effectively.
The research emphasizes the emergence of the internet as a vital marketplace, offering consumers extensive opportunities for exploration and review. It specifically considers India’s growing economy, examining the concept and trends within digital marketing. The article aims to provide insights into the scope and future of digital trends, referencing discussions from the 2019 United Nations summit where leaders addressed borderless economy reforms and the role of digital platforms in facilitating new business investments.
The study also acknowledges the significance of digital platforms in creating a borderless and seamless economy, benefiting both new entrants and large multinational corporations. It draws upon collective research, survey data, and mixed methods to offer a comprehensive understanding of digital marketing, particularly for students. Furthermore, the research briefly examines the agricultural sector’s correlation with digital marketing and emphasizes the importance of the safe and optimal use of the internet as a basic human right in the 21st century. The article also touches on the role of artificial intelligence in digital marketing strategies, referencing Popescul Lanca’s 2023 work.
9.The role of Artificial Intelligence in Digital Marketing
The paper by Popescu Anca (2023) explores how artificial intelligence (AI) is transforming digital marketing and its potential future impact. It examines the changes brought by AI, forecasts its future influence, and provides insights into the evolving landscape of digital marketing. Through in-depth interviews, the research identifies emerging trends, applications, ethical considerations, and future directions in AI’s use in digital marketing. The findings contribute to a better understanding of how to effectively utilize AI in this field while maintaining ethical standards and keeping pace with industry advancements.
10 Digital Marketing Leverge by Marketing analytical Tools
This paper by Petra Leonora Cvitanović (2020) aims to provide a structured overview of marketing analytics tools and how they can be used to create a company’s digital marketing dashboard and benchmarks. The paper discusses how these tools display data, such as budgets, costs, investments, percentages, ratios, statistical data, rankings, and KPIs, in a clear and creative way to show trends and dynamics. By using data from these tools, a company can improve its overall business performance. The data should be regularly monitored and compared to relevant criteria and industry leaders’ results. If benchmarks are not available within a tool, a company can develop its own system based on its data. This allows for personalized dashboards that reflect the company’s product assortment, lines of business, and digital capabilities of its B2B partners, as well as comparisons across markets and time. By combining external and internal analytics tools, a company can gain valuable insights into its core business, products/services, and digital marketing strategy. The paper provides a detailed review of digital marketing metrics, including the advantages and disadvantages of each tool. It also discusses the development of internal digital marketing standards, ranking scales, and benchmarking criteria to support decision-making in digital marketing and addresses the future direction of marketing analytics tools. The paper also touches on the importance of understanding how AI can be used effectively in digital marketing while maintaining ethical practices and staying up-to-date with industry advancements.
Conclusion
In recent years, digital marketing has evolved significantly due to technological advancements, shifting consumer behavior, and the increasing importance of platforms like social media. Key components such as market analysis, strategy, and implementation models like SOSTAC and RACE have become essential in guiding businesses in their digital marketing efforts. Social media, AI, and e-commerce are identified as key drivers of change, with social media enabling greater interaction and engagement, and AI transforming personalization and consumer experiences.
The importance of digital transformation is especially evident in sectors like tourism, where the workforce must adapt to new digital skills to leverage technologies for marketing and business development. Innovations in digital product marketing and the rise of omnichannel marketing have reshaped how companies communicate with consumers. As businesses navigate challenges such as data privacy regulations, they must adopt strategies that incorporate new technologies, prioritize ethical standards, and remain responsive to consumer demands.
Furthermore, the role of artificial intelligence in digital marketing is growing, with AI offering new ways to predict trends and improve consumer interactions. Marketing analytics tools are also gaining prominence, helping businesses track performance, optimize their strategies, and stay competitive.
Overall, as digital marketing continues to evolve, businesses must adapt by embracing digital technologies, fostering innovation, and continuously refining their strategies to stay ahead of emerging trends. The future of digital marketing will likely be shaped by the ongoing integration of AI, data analytics, and social media, leading to more personalized and efficient marketing strategies.
Reference
Sharma, Manvee, 2023. “How business-to-business and business-to-consumer marketers can future-proof their digital marketing strategies,” Journal of Digital & Social Media Marketing, Henry Stewart Publications, vol. 11(2), pages 128-154, September
· Hashem Aghazadeh & Mozhde Khoshnevis, 2024. “Digital Marketing Fundamentals,” Springer Books, in: Digital Marketing Technologies, chapter 0, pages 3-29, Springer.
· Gil Appel & Lauren Grewal & Rhonda Hadi & Andrew T. Stephen, 2020. “The future of social media in marketing,” Journal of the Academy of Marketing Science, Springer, vol. 48(1), pages 79-95, January.
· Oecd, 2021. “Preparing the tourism workforce for the digital future,” OECD Tourism Papers 2021/02, OECD Publishing.
· Oecd, 2021. “Preparing the tourism workforce in Portugal for the digital future,” OECD Tourism Papers 2021/04, OECD Publishing.
Varadarajan, Rajan & Welden, Roman B. & Arunachalam, S. & Haenlein, Michael & Gupta, Shaphali (2022): Digital product innovations for the greater good and digital marketing innovations in communications and channels: Evolution, emerging issues, and future research directions
Kirk Plangger & Dhruv Grewal & Ko Ruyter & Catherine Tucker (2022): The future of digital technologies in marketing: A conceptual framework and an overview
Chandan Kumar Mishra & Umut Ayman & Anil Kemal Kaya (2020): Digital Marketing: Scope Opportunities and Challenges
POPESCU ANCA (2023): The Role Of Artificial Intelligence In Digital Marketing Strategies
Petra Leonora Cvitanović (2020): Digital Marketing Benchmarks Leveraged by Marketying analytical tools