How to Evolve as a Company Through Experimentation and Innovation

Experimentation is very important in marketing because the industry is constantly evolving. There are new trends rising everyday and as a result consumers start to move towards new forms of marketing channels. Traditional advertising methods,  like newspapers and magazines, may not be as effective in reaching large audiences like how digital does. The marketing world is always evolving and companies are forced to change their marketing communication methods or they risk leaving a lot of money on the table.  Newspaper companies like New York Times  have shifted to being mostly online. They were always known as a newspaper but then transitioned to digital news. This came with more drawbacks for NY times because they were forced to find a way to monetize their newspaper.  They moved towards paywalls and subscription based news. They were able to survive because they experimented and did not keep using the same form of marketing communications. 

In different markets, new ways of communicating to the target audience are appearing all the time. For example, traditional radio stations have been forced to adapt to the digital landscape and start advertising through social media. Before they would focus on selling directly on the radio and while this is still a big part of radio, they are more likely to reach more people digitally. It gives them more opportunity to evolve in the modern digital era.  Departments of different companies are forced to evolve and find new ways to market the company and also sell. The marketing department has to find ways to use social media to attract more leads. Before social media, email marketing was the best way to quickly reach thousands of people. Sales department has to learn to sell through digital instead of their traditional methods. Companies may have to teach their employees about these new ways of marketing communications. Overall, innovative companies are eager to adapt and learn these new marketing methods.