Organizations that foster innovation and agility can quickly adapt to changes in marketplace conditions and technological capabilities into the future. Companies that master the new technological changes in marketing can benefit greatly. Innovation and agility are important, but brand recognition, trust and loyalty are more important for companies today than in the past (“The new era,” 2012). The top business strategic initiative for organizations should be prioritization in building relationships with consumers. Building relationships and trust among consumers shows respect, which is at the heart of building business relationships. Respect leads to accepting a person for who they really are. When building relationships, businesses must accept different opinions and views from consumers to create an environment of trust. Trust leads to new opportunities, collaborations, strategies, ideas, and new products. Consumers assist in co-creating products and services that are beneficial for businesses.
As social media continues to expand, more businesses are engaging in social media campaigns. The key to building relationships on social media requires a combination of two things, the creation of great content posted on social sites and conversations that foster meaningful relationships on social media sites. Social media links to visibility, credibility and profitability. Using applications such as Twitter and Facebook increases branding and visibility as social sites grow. Having a credible reputation enhances the possibilities of increasing customers thus resulting in larger profitability.
Marketing methods are at times more effective when combining multiple channels of communicating to consumers. Digital distribution channels cover traditional marketing areas of communicating in a digital way. Digital marketing is more personal, relevant, and cost-effective in reaching consumers because it involves various channels of reaching people with or without the use of the Internet. Innovative methods in doing business are rapidly changing from a technological point of view, but organizations must remember that digital media is still a person-to-person activity. Blogging and being part of connecting to communities are all personal activities, which are ways organizations can connect with consumers. Companies should be customer centric and the social business approach requires engagement with the target market.