A bird’s eye view on the latest technology trends for marketers
Road ahead for marketing
Evolving technology trends in marketing
The integration of technology into marketing is transforming the marketing industry remarkably over the recent years. The traditional marketing activities such as print media and television ads are shifting its grounds onto more digital formats like online ads and social media marketing.
The changing customer behavior, customer preferences and the advent of mobile technologies in the market have made today’s customer more tech-savvy and updated with latest information about their favorite brands, products and services.
Technology usage among the global consumers
A recent survey from Marketo has revealed that globally customers are expected to start using the most modern technologies in their day to day life in the coming year. The survey indicates Machine learning and Internet of things (IoT) as the major technologies consumers are expected to use in their day to day life.
Survey Details: Marketo Survey, Marketo
Survey Question: What technologies do you anticipate that your customers will be using within the next year? N=620, Survey conducted by Marketo.
Hence, Marketers need to focus on opportunities that can leverage these technologies and reach out to a larger target audience innovatively. Machine Learning has enabled technology companies to develop predictive software and applications such as Chatbots which can be widely used for 24/7 support services thereby establishing a positive customer engagement.
Similarly, IoT enabled devices are capturing large amount of consumer data through its daily interaction with the consumers. E.g. A fitness band and an app is continuously tracking the customer’s daily fitness goals and providing recommendations and alerts on exceeding or slowing down from the daily pre-set goals.
The fitness brand can leverage this customer interaction by providing relevant product upgrades relating to health and body fitness products and services through the apps as part of cross selling or up selling strategies.
Key technology trends in marketing
Machine Learning: Machine learning techniques can be leveraged by marketers for various applications such as automated data visualization, content analysis and predictive analytics. These techniques are expected to transform the traditional marketing activities into a more data drive process.
Machine learning techniques are implemented in data analysis especially in data reporting part where machine learning techniques can be used to predict the right visualization tool to be used for an effective understanding of the data.
It also helps in content analysis by effectively analyzing content formats and content that excites a specific target group by using machine learning algorithms and other sophisticated analysis like pattern recognition.
Interesting Applications: Automated data visualization, content analysis tools,
Internet of things: Internet of things (IoT) in retail marketing scenario is a widely used technology currently. Big brands like Amazon is launching IoT enabled devices that analyze product usage and alert a resupply. The connected consumables resupply models are expected to be the new revenue streams of tomorrow for retail brands and providing a unique customer experience along aside.
IoT applications in marketing does not just limit to retail marketing alone but is spread across sales, customer management and social relations management. All the basic sales transactions such as order replenishment, refills and renewals are being already serviced by IoT enabled automation systems and many brands are in a process of automating the point of sales systems too for automatic checkouts.
Customer analysis is yet another interesting area where IoT devices can be leveraged upon. IoT enables businesses to collect, organize and analyze customer data to derive actionable insights about purchase behavior, demographics and changing brand preferences.
IoT devices can be further leveraged by marketers to automate the social relations by posting and sharing valuable insights generated from these devices and driving a conversation with the social audience. Eventually helping the brand build a strong online brand community.
Interesting Applications: Retail marketing, sales automation, customer analysis, predictive social media
Artificial intelligence: Artificial intelligence has given rise to various smart automation tools that marketers can leverage to effectively connect with customers in more innovative way. Chatbots are the most common among these smart automation tools.
The level of personalization, seamless communication and results achieved through a Chatbot pretty much diminishes the fact that it’s a robot to whom you are talking to for getting your task done.
Mobile focused marketing platforms are leveraging the power of smart automation apps to engage their customers with relevant marketing messages and service at the right time and place.
Artificial intelligence applications in marketing is not just limited to Chatbots. In fact, Chatbots are just a beginning of the umpteen opportunities for marketers to leverage on. Artificial intelligence in marketing is already in use across various areas such as artificial intelligence based content creation mainly on generating recurring reports such as sport match reports and financial reports.
Ad targeting is another application that leverage artificial intelligence for marketers to run analysis through historic ad data to establish the right target audience.
Interesting Applications: Chatbots, artificial intelligence based content creation, Ad targeting
Augmented reality: Augmented reality enables marketers to provide customer a unique experience with their loved brands. The most popular application currently for augmented reality is the augmented reality based product catalog that provides customers a unique experience in augmenting their real world with the animated world.
Brands like Lego and Ikea have already created augmented reality based product catalogs for their customers. This is a new level of customer engagement that triggers a positive customer experience and connect with the modern tech-savvy customers.
Augmented reality currently is also used as a creative tool for driving social media interactions. Marketers are trying to enter the customers top of mind consideration by introducing unique marketing techniques like augmented reality based games and contents that resonate with their social audience. E.g. Pokémon Go is an example for augmented reality based gaming experience.
Interesting Applications: Augmented reality based product catalogs, augmented reality as a creative tool
Virtual Reality: Virtual reality like augmented reality also offers marketers innovative ways to provide unique customer experiences. Virtual reality provides a more immersive experience for its users. Users of virtual reality devices feel that there are teleported to a different world.
Marketers have immense opportunity especially in the hospitality and retail industry for creating effective marketing campaigns for their customers. The immersive nature of virtual reality creates a unique customer experience. E.g. Marriot hotels provide a virtual tour for its customers around their prime properties across the world to experience the reality in front of their eyes before actually traveling or booking a stay.
Interesting Applications: Virtual tour, Immersive customer experience
The marketing applications of these technologies are limitless and these applications represented above remains just like a tip of an iceberg. Marketers are left with umpteen opportunities in the modern world of technology to provide customers with exceptional customer engagement and customer experience. In today’s fast pace world these technologies are also constantly evolving with the introduction of new features and capabilities.
Hence, the success of every marketer lies with staying ahead in the market by updating to the latest technology and applying it at the right time and place.