Evolution of Trust: Why Today's Online Business Needs an Ecosystem Marketing Approach
A major change is occurring in digital advertising. Consumer behavior is fundamentally different today from what it was before. With the emergence of stricter privacy laws, the use of ad blocking technologies, and growing skepticism about corporate communication, the environment for successful digital marketing has transformed.
Global companies will need to adapt to the changing environment and take a closer look at trust evolution and the implementation of an ecosystem approach to marketing.
The End of Disrupted Advertising
Today's internet savvy consumer has learned to filter out advertisements. From bypassing pre-roll advertisements on YouTube to browsing through banner advertising, the consumer is well equipped with methods to avoid commercial messages. As it turns out, the truth could not be more evident: People don't trust advertisements, but trust people. Recommendations by creators, experts, and peers have taken the place of conventional advertisements in influencing purchasing behavior.
Fragmentation Problem
In its quest to partner with influencers and expand affiliate programs, companies often find themselves facing one huge obstacle: fragmentation. Handling influencer management on a spreadsheet, monitoring referrals for affiliates through countries, and waiting on international invoices causes major headaches for the marketer.
Unleashing the Potential of One Ecosystem
Addressing the problem of fragmentation necessitates the abandonment of disparate systems in favor of an all-inclusive ecosystem. The solution comes in form of one ecosystem that will bring together three important aspects:
- Vetted Discovery: Seamless matching of vetted, high-performance creators with premium global retailers.
- Seamless Tracking: First party tracking data in form of server-to-server data that assures no attribution discrepancies between other platforms and geographies.
- Automatic Scaling: Seamless scaling capabilities that range from tracking performance to making cross-border payments in different currencies.
Conclusion
The e-commerce market will be reserved for the brands that know how to build, track, and develop relationships at scale. By leaving behind risky ad networks, companies will be able to adopt a new, transparent, and performance-based ecosystem in order to establish sustainable and borderless revenues through consumer trust.