The modern world is changing, we are constantly surrounded by innovations and technologies that make our lives easier.
Our daily experiences have dramatically changed with the introduction of devices such as smartphones. This has given marketing companies a direct avenue to personalize adverts and grab our attention. Not only that but the technological development of marketing from a business owner’s standpoint is that there are now a plethora of tools at their fingertips to analyze and run strategies.
Being able to access vital information on a screen that is factual has revolutionized the way in which companies are being run, and how they move forward. Gone are the days where calculating your ROI was an analog process, here we take a look at how technology is changing the future of marketing for us all, business and consumer.
Analytics
The ability to analyze marketing campaigns became far more accessible with the introduction of programs that allowed us to see into every detail of our campaign. There are a whole host of programs available to varying levels of business needs and sizes. Being able to see every aspect of who’s interacting with your campaign is invaluable and will help you further build to become more successful.
We can now see information such as which country our company is popular in, what the ages of consumers are, whether they are male or female, and what got them interested in our product. These bits of information are foundational knowledge that will help enormously in developing a strategy to move forward. There is also a whole host of more detailed information available to you that will help build more individual plans.
When it comes to choosing what is going to be best for your company you need to evaluate what you are trying to do and how you are going to get there. Understanding your analytics is essential, if you don’t know why the information available to you can help, that will become your first downfall.
The marketing professionals of SmartFlows say that it’s fundamental that a market operating system makes it easy to track necessary information. Use a guide to really get to grips with the analytics world to benefit your company. From there you can set yourself goals which will enable you to expand and develop your organization. If there’s one way in which the development of technology has equipped us with the tools to succeed, it’s the analytics.
Smart Devices
Let’s start with something that has affected each and every one of us, the introduction of the smart device. It started with smartphones, a revolutionary take on a mobile device used for calling and texting. Then came smart devices, items of the home that were now technology-driven for our benefit: lightbulbs, thermostats, televisions, speakers, and doorbells.
All of these were now voice-activated and constantly collecting data. This data is passed on to marketing companies which allows them to personalize adverts for a singular device or smartphone, making it far more likely you’ll engage with what they present you, whether that be buying a product or signing up to a mailing list.
For the first time in history, there was a way to fish for individual consumers instead of casting a net as large (and expensive) as possible. The original method of putting out an advert for the entire world to see was an expensive one and only large companies were able to really compete. The introduction of personalized and much smaller advertising campaigns gave the little guy a chance to peddle his wares to an enormous audience.
The best thing about being able to reach individuals based on their data (whether that be search data, app likes and dislikes, and what they watch on YouTube) is having the supporting information that individuals are potentially interested in what you’re offering. Meaning that your campaign cost isn’t wasted with disinterested consumers not taking it seriously.
Data
There has been more data created in the last 20 years than the amount created since the beginning of time to the year 2000. That means we’ve created over 90% of all data in the last few years than ever before. It’s from this data that we can interpret and analyze why and how our business is working, or not in some cases. Everything we do regarding technology collects data and it’s how we can create advertising campaigns designed specifically for singular people, or small groups.
As scary as it is, everything we search, ask for, and even our conversations are recorded so companies can assess it and give you what you want. It’s the world we live in so if you’re in business and haven’t used this to your benefit then you certainly need to start, it’s the best way in which we learn about our consumers. Surveys are a thing of the past.
AI
Artificial Intelligence, one of the scariest things humans have developed. However, when used properly, it’s a powerhouse in developing our marketing strategies and techniques. AI is often seen as more streamlined than human intelligence and will learn based on the data it’s given without emotional input. It can help make changes to your strategy based on the information it’s receiving to help increase ROI (return on investment) and seamlessly create better customer interaction.
Whilst artificial intelligence will be able to detect problems and make changes based on data alone, it’s good to still have some human emotion in the decision-making process, especially when it’s about human problems.
Marketing processes have always been developed so it’s best to bear in mind that things do change. The rate of change, however, in the more recent years has been astronomical so keeping up with current trends is important for your business to grow and remain successful.
Not only that but it could make the difference of your company being local and international. Consumers are everywhere so it would be silly to leave out the rest of the world when it’s readily available.
