Role of Technology in Today’s Marketing Environment

Technology is a term that was first used in 1829. But does it mean the same thing today i.e in 2020? Definitely not! Our day starts and ends with technology. Technology has filtered into our lives, whether it's your mobile or your vehicle. It has seeped into our lives and has enabled millions of inventions that have a great impact on improving our lives and making us more efficient.

Today, millions of businesses are using technology-driven marketing to take their brand to a new level.

Here are some digital technologies that are changing the marketing world:

Artificial Intelligence

Artificial intelligence (AI) is a wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. The use of AI is visible in almost every industry. Businesses are now leveraging their power to make AI-driven processes more efficient.

AI in marketing is a method of leveraging customer data and AI concepts like machine learning to anticipate a customer's next move and improve the customer experience. AI can help build more effective marketing strategies, improve customer experience, and change the way businesses attract, nurture, and convert prospective business opportunities.

For example, AI-enhanced PPC (pay-per-click) advertising is used by AdWords and Facebook to allocate budgets. According to eMarketer, Google controls 40.7% of the U.S. digital and market, followed by Facebook with 19.7%.

Cloud Computing

Cloud computing is the delivery of on-demand computing services - from applications to storage and processing power - typically over the internet and on a pay-as-you-go basis. The term is generally used to describe data centers available to many users over the Internet.

The ability of members of a team to share, access, and manage data that is lying on a common cloud has enabled them to communicate and collaborate with ease.

For example, a digital marketing team uses cloud services like G Drive to share information with our clients overseas. A team of graphic designer, a blogger, and a developer putting up in different parts of the world can easily communicate with each other to deliver the best to the clients/customers.

This ease of sharing information helps us plan our marketing strategies better.

Big Data

Big data is a term that describes the large volume of data – both structured and unstructured, that a business deals with on a day-to-day basis. But it's not the amount of data that is important, it’s what an organization wants to do with the data that matters.

Big data is a large set of analytics and statistical data that allows businesses, both big and small, to find patterns and trends relevant to their market. For example, you may find patterns in the types of website visitors your business is attracting, trends in the number of clicks certain pages are getting, and more. Essentially, big data exists to help you better understand your customers and their behaviors.

Virtual Reality

Virtual Reality (VR) is the use of computer technology to create a simulated environment. VR places the user inside an experience. Instead of viewing a screen in front of them, users are immersed and able to interact in the virtual world. VR in marketing allows companies to bridge the gap between experience and action. You can use VR to offer a digital experience in place of a physical one, which can promote products and services. As well as promoting existing products, you can also use VR to showcase those that are in development. The pandemic has proved to be a boon for the VR world.

For example, IKEA provides the option of seeing how the furniture that you are purchasing on its app would look like in the reality of your living room or bedroom or wherever you want to place it. Recently Flipkart has embarked on a similar journey in the retail world too with Scapic.

Internet of Things

The Internet of Things, or IoT, refers to the billions of physical devices around the world that are now connected to the internet, all collecting and sharing data. For example, A lightbulb that can be switched on using a smartphone app is an IoT device, as is a motion sensor or a smart thermostat in your office or a connected streetlight.

A growing number of IoT devices means we are now able to collect more data about the audiences we are targeting than ever before. As we collect more data about our customers and their behaviors, it means we can learn how to create better products and services to meet their needs. We can also market these products and services more successfully because we can personalize marketing messages based on the data collected from each individual.

Connected devices have already changed the way we shop online. When we’re running low on laundry detergent or coffee, we can simply ask Alexa to order some more.

Hope this blog proves how technology has proven to be a savior for marketers! With technologies evolving rapidly, businesses are changing the way they market.

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