According to a renowned specialist in marketing, Billy Lee, this is the end of traditional marketing. The signals are quite obvious:
- Customers do not pay attention to traditional communications tools. Several studies have shown that consumers' decision-making process is not significantly influenced by traditional marketing. People look for information their own way - mostly using the Internet, consumer references and WOM.
- Directors of companies lost their patience. A study of 2011 by Fournaise Marketing Group came with devastating results. 73% of the total number of 600 surveyed CEOs argue that marketing executives lack confidence and don't have the ability to ensure business growth. 72% said they were tired of allocating additional resources without ever being told what will be the impact on sales growth, and 77% are tired of the claim that brand value cannot be clearly expressed as part of the corporate equity.
- In the world of social media, traditional marketing does not make sense. The classical model, in which an organization hires employees or external partners who have nothing in common with customers and have completely different set of interests, in order to persuade shoppers to buy more, is simply far off. The best example of the absurdity of traditional marketing is the endless debate about whether marketing on Facebook works or not. And in the traditional sense, it certainly doesn't.
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