Marketing 4.0: is your company ready for the new era?
Marketing 4.0 is a reflection of the Digital Transformation in the lives of people and companies. In it, technology is more present in marketing and in the consumer’s purchase journey, being a decisive factor not only for the acquisition, but also for the loyalty of the public.
Marketing 4.0 is a new marketing modality, in which technology and the humanization of brands are more present, according to the evolution and awareness of the consumers themselves.
More than just consuming, they want to know more about the brands they are consuming and what the company’s purpose is.
Furthermore, there is still the influence of the digital medium in people’s lives, also interfering in the choice and the way to buy.
What is Marketing 4.0?
Marketing 4.0 is a definition of leading marketing theorist Philip Kotler. The term was created in 2016 to show a milestone in marketing, in which new points should be taken into account when creating a marketing plan and directing the company as a whole.
These points are clarified in the book “Marketing 4.0: from traditional to digital” and basically refer to the influence that technology would have on this area.
This is seen through the emergence of fully digital brands that offer their services over the internet, such as Uber and Nubank; or brands that went digital and had a new growth boom, such as Magazine Luiza.
Marketing 4.0 marks the era of Digital Transformation and also of a closer relationship between brands and their audience, in which they feel part of the construction of the concepts that permeate the creation of products and services offered by the company.
With this, the concept of brand defenders also arises, who are people who believe in the same ideas of the company, promoting and defending it, in addition to consuming its products faithfully.
The focus is on creating and maintaining a relationship with the customer and no longer just promoting and selling products. Therefore, it is necessary to better study the audience and create a connection through personas, storytelling and branding.
The emergence of Marketing 4.0 was directly actioned by Google and social networks, which made the public more powerful and an agent of change in relationships.
How does it impact companies?
Today, companies that continue to bet only on traditional marketing, such as TV and newspaper ads, are losing ground to companies that are promoting their products on the internet.
If combined with the dissemination of its products, strategies are created to generate connection with the target audience, either through values shared by the company, or through stories.
For this, the company needs to deeply know its audience, including people who do not yet consume the brand. This is also linked to the fact that there are still certain audience niches that are not so present or accessible via the internet.
Currently, the shopping journey involves technology and education at some point.
Who uses Digital Marketing tactics, including Content Marketing, can better involve those looking for a product, teaching the consumer about what he should look for and invariably closing sales, which is the main objective of any company.
Thus, the relationship between business and consumer is changing and becoming more and more trustworthy. Consumers now need to believe in the brand and products to consume them.
What changes in Marketing 4.0?
Marketing is usually divided into eras, to facilitate understanding of society and its relationship with consumption.
In Marketing 1.0, at the beginning of the industrial age, the focus was totally on the product. For many products, competition was relatively low and demand was high. Thus, there was no need to look for ways to please the customer and try to understand him.
Companies were then interested only in increasing their sales and market scalability.
The Marketing 2.0 was responsible for introducing the information to marketing, as in the Information Age. Competition increased, so it was important to pass some information to the consumer and mainly please him at any cost.
Thus, the focus in Marketing 2.0 shifted from the product to the consumer and on ways to satisfy them.
But the Marketing 3.0 has evolved into collaboration, in which consumers are now also replicators content. Companies changed their image to become more humanized and less “perfect”, seeking to generate identification with customers.
The difference between Marketing 4.0 and 3.0 lies in introducing technology as a fundamental element.
Now, people’s lives are intrinsically linked to technology, that is, it is not only part of everyday life, but is also responsible for shaping people’s behavior and routine.
The focus is still on the human being, as in Marketing 3.0, but also technological changes and how they interfere in the future of society .
The Digital Transformation quickly changes relationships and what could be the future becomes something obsolete very quickly. Companies therefore need to be aware of this process, in order to follow the market and the production process as well.
Thus, technology not only changes the way in which products are offered, but also how they are produced and, more profoundly, how they are created and how they are conceived.
What points are essential for companies to adapt to Marketing 4.0?
To adapt to marketing 4.0, a company needs to know that technology can even change its core business and its way of relating to the public.
It’s not enough just to have a digital address, like a corporate website and email or even a blog. They are just tools and the transformations in Marketing 4.0 go deeper than that.
As the name of Kotler’s book itself mentions, it is a shift from the “traditional to the digital”, in other words, a paradigm shift.
For this, you need to know your audience deeply, with the intention of building an intense relationship with them. Building personas closer to the audience is a goal that should always be pursued.
The relationship must be based on the values and purpose of the brand, which generates identification with the public and can even generate co-branding with other companies. In other words, the relationship between competitors is modified.
It is necessary to better understand the digital world, as it directly interferes in the “real” world and there is no longer much distinction between what is real and what is virtual. Barriers are falling.
And this directly affects consumer behavior.
Just realize that nowadays people hardly just go to a restaurant — they also share their experience on social media. It is as if the purchase was something social and not an individual decision anymore.
Another interesting point to note is that, with the amount of volume of information that is generated on the internet every day, there is no longer any hierarchy in relationships.
Thus, the consumer not only passively waits for information about a certain brand, he also researches and even creates content about the market and products.
The relationship between brands and consumers goes from vertical (hierarchical) to horizontal. And whoever manages to change the way they see their consumers, comes out ahead.
For this, as we said before, it is necessary to change the company’s image, with the intention of humanizing it and bringing it closer to its consumers. It is essential to convey emotion, create rapport and connection with the audience.
This creates brand advocates, who are the people who faithfully believe what the company also believes and promotes, becoming not only loyal consumers, but evangelists as well.
Working with content production and allowing your customers to also be agents that build these materials will also become even more important for brand appreciation, as this becomes a determining factor in attracting new customers.
In short, it is necessary to lose “control” over what they say about your brand to captivate the public. But this does not represent the end of marketing strategies, quite the contrary.
They need to be more complex and fluid, as they now have the participation of brand influencers, advocates and “opinions”.
Investing in data analysis, process automation and results monitoring are ways to ensure and assess whether your company’s Marketing 4.0 strategies are working or not.
Marketing 4.0 is just one aspect of Industry 4.0 and what Digital Transformation is causing the world. To better explain how these changes are happening in industries, we’ve put together an article especially for this: understand what Industry 4.0 is and what its impacts are.