Before the time of capitalism, people lived in a world where trading and bartering were commonly used for buying and selling goods. It seems like ages ago, where the concept of money did not even exist.
The trading and bartering system dates back to ancient Mesopotamia, a civilisation that existed around 4 000 BCE. With evidence that leads us to believe that they had urban centres for trading goods, this was the beginning and inception of an economically driven society.
Forwarding a few thousand years, we see that the Greeks and Romans followed suite. The Greek Agora and Roman Forum established central hubs for citizens to trade and barter with merchants. Although no definitive or universal currency was established during these times, the groundwork of capitalism was laid.
Trade routes came next. Capitals required a combination of necessities and luxury items that weren’t locally sourced or available. Cross-cultural exchanges created connecting routes between Europe and Central Asia, as well as the Middle East. Soon, these trade routes were also used for technological and intellectual exchanges.
Let’s fast-forward to how industrialisation influenced and transformed the way people bought and sold goods.
The first and most pivotal and influential element of industrialisation was the use of currency. This was the start of capitalism and people finding themselves in a feedback loop. Suddenly, you needed a job to generate income and provide for your family. The time of bartering and trading goods was a distant echo in a society that shifted the focus to generating as much money as you can.
The various industrial revolutions also birthed the need for advertising. This element usually consisted of putting up a board at your stall in the marketplace, showing your products and the prices of each product. In most cases, the prices were set and non-negotiable, although some merchants were open to bartering.
The most recent industrial revolution (4IR) has brought fundamental changes to the practice of buying and selling goods. With the introduction of the internet, as well as various digital and electronic technologies, we saw a dramatic shift in how people buy, sell, and advertise their goods.
Online marketing has become one of the most efficient marketing strategies, offering personalised and targeted solutions for advertisers. Branding is also at the forefront, as it carries over from previous industrial revolutions. Various worldwide brands established themselves during the 19th and 20th centuries, with the world proverbially getting smaller as time went by.
In modern society, we are still trapped in that feedback loop of getting a job to generate money, which you can use to satisfy all your wants and needs. However, advertising has never been so intuitive and personalised as it is today.
Every internet user leaves behind a trail of useful data and metrics that are utilised by advertisers and online platforms for targeted marketing. This is evident when using platforms such as YouTube, where ads are displayed based on relevance and user behaviour. This also applies to Google search and display ads, ensuring that you only see ads that you might find appealing.
Once again, the importance of brands and branding is emphasised. People tend to choose the brands that they trust; brands that deliver on their expectations. With online marketing solutions, your brand can thrive in a world that is heavily invested in social media platforms and almost completely dependent on online shopping solutions. We even buy our groceries online today.
