A bit of history: the 5 eras of marketing

Every day we are more and more amazed by the changes in marketing. Not so long ago we were handing out flyers and promoting our businesses through newspapers.

It doesn't mean it doesn't work anymore, but the world has changed. The marketing eras are the perfect example and it's time for you as an entrepreneur to know it.

Asking the public what they're looking for and how they need it is not something that was stipulated decades ago. In short, adapt or die is the new business mantra of this century.

Do you want to know if your company is in the new era of marketing? Don't miss the following article:

The 5 eras of marketing

Marketing has gone through 5 eras since the first product was sold. Let's see how it has evolved in all this time until the digital era:

1.0 : Product-centric marketing

It was developed in the decade of the 50s in the 20th century and was characterized by giving much emphasis to the product. It was here where the concept of the 4 Ps was developed, which gave very good results to the companies of the time.

The products at that time were very durable and sought to satisfy two generations: The Baby Boomers (born between 1946 and 1964) and the silent generation (1928-1945).

Many specialists agree that first the products were created and then the need, which originated the phenomenon known as consumerism.  

2.0: Customer-centric marketing

As time went by, brands realized that it was not feasible to create needs in users after having developed products, so they decided to change the formula.

Now they would focus on giving more importance to customer needs. 

For this they used a segmentation criterion to understand what the requirements of each group of people were. 

This era was very important because they started to work on the basis of niches and segmentation of the target public. Its target audience was the so-called Generation X (1965-1980).

3.0: Human-centered marketing

We keep moving forward and we find a marketing that focused on the famous millennial generation (1981-1996).

Have you ever wondered where phrases like social responsibility or sustainable business came from? Well, it was in this era of marketing 3.0.

It turns out that companies realized that people were looking for products that not only solved their needs, but also created a positive impact on the community. This is how many of the causes we know today developed.

Sustainable development, ecological care, climate change protection and many more were some of the causes that began in this era.

4.0: From traditional to digital marketing

Yes, it's no secret that the advent of the Internet and cell phones completely changed users' consumption patterns.

Companies had to adapt completely to offer multichannel shopping experiences, not only to show the product in a store, but also to use social networks to create content to solve customers' doubts.

5.0: Technology at the service of humanity

It is said that marketing 5.0 brings together some of the characteristics of marketing 3.0 and 4.0.

Generation Z (1997-2009) still promotes social causes as a criterion when buying products and services, but they've developed other needs that have changed companies' marketing strategies.

It should also be taken into account that in recent years disruptive technologies have arrived that completely changed the rules of the game. Some of them are:

• Big data

• Artificial intelligence

• Cryptocurrencies

• Augmented reality

• Internet of things

Most of these trends have developed rapidly, so marketing 5.0 has to adapt to the new needs that users have today. Even so, we can already see some differences if we compare the current era with the previous ones.

What does 5.0 marketing entail?

As a brand you must focus on what is in the spotlight and 5.0 marketing is what reigns today. 

In this sense, 5.0 marketing is characterized by providing experiences to users through their connection with technology and their new consumption habits. 

Many studies reveal that innovation, sustainability, values and convenience will be priorities for this year, so your product must meet these patterns.

Some of the components that give life to marketing 5.0 are:

1. Predictive marketing

This is about using tools to predict new trends in the market. 

The user today is almost unpredictable, but with the right programs you can save time and resources through products that will have an outlet in the market.

2. Data marketing

Most businesses use big data for decision making. Many specialists already consider information as the most valuable treasure of companies today.

One example is Data Driven, which is business management based exclusively on data. Using it will allow you to create much more precise strategies according to the needs of your target audience at that moment.

3. Contextual marketing

Contextual marketing uses the user's entire physical and digital environment to provide solutions to their requirements.

How do they do it?  Through the gadgets you have installed in your home or office that provide you with information at all times.

4. Augmented Marketing

These are tools used by marketing to improve interaction with users and allow you to save time.

Some examples are chatbots and virtual assistants that provide answers to basic questions that any customer can ask. 

Note that they definitively do not replace the worker, they only provide support until the person is needed. 

5. Agile marketing

The last component is agile marketing. It's the union of different talents in a team around a common goal.

They are characterized by using physical and digital environments to meet the needs of the new customer of the 21st century.

In this way, much more effective marketing campaigns are created than in previous eras.

The new customer experience

The goal with 5.0 marketing is to delight the customer, not just sell a product. Gone are the years when companies focused only on the item, now the market is much more demanding.

The aspiration is to merge technology with people to provide users with a multiplatform experience that takes advantage of the best of the physical and virtual world and meets their needs.Have you already adapted to the new era of marketing? It's time to make that leap in quality if you want to stay relevant in the coming years. Don't think twice and apply marketing 5.0, we are sure you will soon see the results.