The importance of technology in marketing is no mystery. It has transformed marketing by making campaigns more personalized, targeted, and immersive for people. It has also created an integrated ecosystem for marketers, enabling them to know their customers better and get the best out of their marketing efforts. Besides, technology is constantly evolving, and so is the way it impacts marketing.
Let’s take a quick dive into the role of technology in marketing for both businesses and consumers.
The evolution of traditional marketing
Marketing is no longer limited to print ads and billboards. The inception of the internet has enabled marketers to get the most out of their marketing campaigns. Let’s discuss the role of technology in revolutionizing traditional marketing.
The use of the website
More than 80% of online shoppers search for a brand online before making a purchase. If a business doesn’t have a website, it must have a magical word-of-mouth marketing. And if it doesn’t, other businesses will soon outperform it. A website allows you to secure real estate on the internet and performs as your most important marketing asset.
Ecommerce over in-store purchases
The rise of the digital has been a mighty whack on brick-and-mortar store owners. Business owners no longer have to purchase or rent a property and develop it into a store to sell products. All it takes is a well-designed website with eCommerce functionality. Ecommerce has certainly changed the dynamics of buying and selling products.
Big day and relevance
Relevancy was always an issue with traditional marketing techniques. Brands had no choice but to bombard people with their ads, enticing them to click and take action. With Big Data and data analytics in place, brands know exactly who their ideal customers are, what do they need, and how to reach out to them.
Cost-effective video marketing
There was a time when the only way to leverage the benefits of video marketing was to pay thousands of dollars to TV channels. Thanks to the rise of digital, you can now utilize video marketing on almost any platform. You can run video ads on YouTube or other social media platforms. You can also include a video on your landing page to increase your chances of conversions.
Importance of technology in marketing for businesses
One of the biggest advantages of technology in marketing is the transformation of traditional marketing methods. Earlier, brands had no choice but to rely on conventional marketing techniques – print ads, TV ads, radio ads, banner ads, and more. Now, you can reach out to any consumer in any part of the world by just setting location preferences in your ads manager. Tech certainly has changed a lot, hasn’t it?
Let’s take a look at some ways technology has changed marketing for businesses.
It wasn’t until recently that marketers were equipped with an arsenal of tools and applications. And even if you had tools to talk to one another, you would need to write down a custom integration to make them work together. Now, you can use marketing automation tools like Zapier and Hubspot.
This allows you to experience a whole new level of scale. Now, if something happens in a part of your sales funnel in one application, it can lead to a chain reaction in other funnels, thereby saving several man-hours.
Once upon a time, marketing was nothing but a wild goose chase. You created and run campaigns, people saw it, clicked on, and there was a lot of engagement. But in the end, nothing happened. This sounds like a sad story, where more good money is thrown at bad results. But thanks to technology, you can now gain efficiency by testing your marketing campaign, understanding what works and what doesn’t, and identifying holes and shortcomings in your marketing strategy.
You can now drive tests and find accurate results with statistical certainty. You can look at insights and understand at what stage of the funnel are people dropping out, and why. Maybe people are signing up for your newsletter but are not engaging with your emails. Or, maybe they’re going on your sales page but not making a purchase. You can know what’s exactly happening with your campaigns and what changes to make to get the desired results.
Delivers consumer demands
A major drawback of traditional marketing techniques was that they were all a wild guess. Since businesses had no method to collect consumer data, they had no choice but to guess what their customers might want. And in most cases, these guesses didn’t work, which ended up costing businesses more money, resources, and time.
Now, data analytics has increased the role of technology in marketing. Businesses can collect information about their customers and know them better. You can know the exact demographics of your consumers, along with their interests and preferences. This enables you to run targeted marketing campaigns that lead to improved results.
Advantages of technology in marketing for consumers
Technology has enabled brands to turn 180 degrees in the marketing and advertising approach. But besides businesses, technology has changed the lives of customers as well. Smartphones, social networks, eCommerce, and more – engaging with brands is not the same as it used to be a few years ago. Let’s discuss the importance of technology in marketing for customers.
The majority of us have a smartphone in our pocket, so we can snap and poke anyone anytime. This increased connectivity also helps us stay connected to our favorite brands. You can follow a brand on social media to get news about the latest updates and deals. And if you want, you can shop directly from their social media handle without even switching between apps – forget about stepping out and visiting a store.
Changing consumer expectations
As technology evolves, customer demands and expectations also change. For instance, the need for convenience and time-saving led to the birth of eCommerce. Now, more than 2 billion people across the world shop online. But standard eCommerce delivery took five to seven, and sometimes even nine or ten business days. Customers wanted something faster, and they were willing to pay extra for it. This led to the introduction of express delivery and the concept of subscription models like Amazon Prime.
All in all, technology puts power in the hands of the consumers. They pick trends, set them, and then it’s the responsibility of the businesses to keep up with them.
In 2010, Google introduced a new snippet code to advertisers, which unlocked the power of remarketing. And all of a sudden, instead of being served by random digital ads, customers were getting ads based on their preferences and browsing patterns. Ads became more relevant.
When consumers interact with their screens and networks, they make choices, which help them process and refine the information they see. As technology evolves, relevance continues to increase.
All in all, the advantages of technology in marketing are no longer hidden – both businesses and consumers are getting the benefits. Moreover, emerging technologies like AI, AR/VR, and Blockchain are also finding applications in marketing, making the role of technology further concrete.
So, how has technology in marketing impacted you?