1990 vs 2017 – Marketing Then and Now [Infographic]
The last 30 years have seen countless technological advances that made it easier to communicate with the world. The marketing industry saw one of the biggest changes, gaining new outlets and reaches.
In the 1990s, marketing was virtually the same as it had been for the previous generations. There was little to no innovation, budgets were high, and targets were localized. Smaller companies couldn’t compete with larger brands. Newspaper revenue peaked in 1974 at $18 billion, and rose again to $17 million in 1987. Hotwired, a new internet site, charged $30,000 for a 12-week ad in 1994, and brands like AT&T, Club Med, and JBL Speakers purchased spots. In the same year, television advertising accounted for $34 billion of the $150 billion US advertising market.
Print media, such as newspapers, direct mail, and trade magazines were the best, and some of the only, B2B options that reach buyers at home to raise brand awareness. The Yellow Pages were delivered to everyone’s doorsteps, and full page ads in the book could mean success. Billboards and fax ads were used. Television spots, which started as a medium for laundry detergent and home appliances, started seeing companies buying spots during sporting events.
Today, in 2017, marketing and technology look vastly different. Print media such as newspapers have become virtually obsolete. Not only have consumers gone digital, but advertisers followed. Campaigns can be personalized, targeting specific demographics across the country. US mobile and ad revenue is expected to reach $58 billion this year, with Google and Facebook ads accounting for over half. Digital marketing revenue topped television for the first time in 2016, and overall US advertising budgets grew from $30 billion in 2011 to $184 billion in 2017.
Media has gone digital. Marketers need to know search engine optimization (SEO), email marketing, web design, and social media to keep up with competitors. 33% of marketing budgets now go to marketing technology like Google Analytics and Hootsuite. Marketing has become a lifestyle instead of a profession, and finding a spokesperson for your brand is key.
Unfortunately, most funeral homes have not evolved their marketing strategy to fit ‘the current state of marketing’. Death care companies still spend the majority, if not all, of their budgets on overpriced traditional outlets. For the love of God, some funeral homes, are still spending $1,000’s a year on Yellow Page ads.
How does your marketing strategy fit with today’s standards? Are you up to date?
