The internet has evolved to have transformed every aspect of our lives.
Both marketers and consumers have benefited from this significant invention in the 21st century. The internet serves as the link between those who want to reach to their target, and those who seek for their best purchasing choices, more precisely and effectively.
Four companies took advantage of the internet explosion and managed to rule different spheres of internet marketing: Google dominates the online advertising market, Amazon leads in online retail, Facebook benefits from social engagement and Apple makes the devices that allow all digital activities to thrive.
Advertising has contributed significantly to the success of these companies. But the rapid development of internet has also created challenges to these companies.With people shifting from desktops to mobile devices, search-engine marketing may lose its battleground once marketers start to look for more viable way to reach to their customers; Foreign companies such as Wechat and Alibaba seem to have developed successful business models creating and monetizing advertising opportunities (eg: Wechat moment ads and Alibaba 11/11 event) …
But challenges always coexist with opportunities.
VR has already been used to market products and promote brands. This benefits Google and Facebook. Other technologies such as smart devices and the Internet of Things could be marketers’ next approach. Companies also learn from others to develop new ways to keep consumers on their platforms (eg: the recent practice of the live feature on Instagram and Facebook), as this would also help with advertising opportunities …
The digital world is constantly evolving and the future of markets and marketing seems to be uncertain even to these giants. At least one thing is key, however: to maintain competitive advantage, it is always important to identify new opportunities to enable and facilitate growth.