Embracing Technological Revolution in Marketing
Did you know the MarTech industry is expected to grow by 18% from 2020 to 2027? Technology continues to transform many aspects of our lives and marketing teams are often amongst the early adopters and beneficiaries of new innovations.
As a marketer or consumer, you've probably noticed that campaigns are more personalised and immersive than ever. Technology has played a crucial role in this, driving brand transformation and audience connection like never before. It’s not just the interface between brands and people that's been transformed too; new marketing technology is contributing to the infrastructure on which companies are built, adding to the overall bottom line.
So, let's take a deeper look at the world where technology and marketing meet.
Targeting and Personalisation 🎯:
61% of consumers are more likely to make a purchase when brands deliver unique content. (Accenture)
Technology is making it possible for marketers to personalise their messages to individual customers on a scale that's never been possible before. Using data analytics, artificial intelligence and machine learning, marketers can segment their audience and tailor specific messaging, allowing for more meaningful conversations with their audience.
Customer Experience and Engagement 🌟
84% of companies that work to improve their customer experience report an increase in their revenue. (Qualtrics)
Technology continues to play a key role in enhancing customer experience and engagement. From chatbots and virtual assistants to interactive websites and personalised recommendations, businesses are leveraging technology to provide seamless and personalised experiences to their customers. Technology can enable businesses to be available 24/7, increasing brand awareness and responsiveness to customer enquiries. By prioritising customer experience through technology, businesses are fostering loyalty and increasing customer satisfaction.
Automation and Efficiency 🤖
Marketing automation drives a 14.5% increase in sales productivity and a 12.2% reduction in marketing overhead. (Nucleus Research)
Technology has automated various marketing processes, increasing business efficiency and productivity. Marketing automation tools help streamline repetitive tasks such as email marketing, lead nurturing, and social media management. Automated workflows and personalised campaigns allow businesses to engage with customers at different stages of the buyer's journey, nurturing leads and driving conversions. By automating these processes, marketers can focus on strategic initiatives, creative content development, and building meaningful customer relationships.
Data-driven marketing 📊:
Marketers who use customer data see an increase in conversion rates of up to 300%. (HubSpot)
Technology is making it possible for marketers to collect, and analyse more data than ever before. Digital touchpoints are used to better understand customer behaviour and preferences, and to create more effective marketing campaigns.
Here are some specific examples of how new technology is being used in marketing today:
Virtual reality 🌐: Virtual reality (VR) is being used to create immersive marketing experiences that allow customers to interact with products and services in a realistic way. For example, IKEA has created a VR experience that allows customers to "walk" through their products before they buy them.
Augmented reality 🌍: Augmented reality (AR) is being used to overlay digital information onto the real world. This can be used to provide customers with information about products or services or to create interactive experiences. For example, Sephora has created an AR app that allows customers to try makeup virtually.
Chatbots 💬: Chatbots are computer programs that can simulate conversation with humans. They're being used in marketing to provide customer service, answer questions and generate leads. For example, many businesses now use chatbots to answer customer questions on their websites.
Big data 📈 : Big data is the collection of large and complex datasets. It's used in marketing to track customer behaviour, identify trends and create more targeted marketing campaigns. For example, Netflix uses big data to recommend movies and TV shows to its users.
Conclusion
As technology continues to evolve, we're noticing a trend in businesses approaching us with a willingness to take the lead on trialling new innovative ways to enhance their customer experience. Increasingly, this is being funded by a separate innovation budget, with businesses recognising the long-term value new technology brings.
Perhaps the most powerful takeaway is that marketing teams are at the forefront of innovative ideas and often hold the trump card when it comes to use cases for new technology.
Safe to say, we can expect to see even more innovative and disruptive marketing practices emerge in the years to come!
Join the Conversation 🗣️
We're curious to know: How do you envision technology shaping the future of marketing in your industry? Are there specific tech-driven strategies you're excited to implement? Share your thoughts and experiences!
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