Marketing is by no means a new concept and is probably as old as business itself. However, what has always changed and will continue to change is how the marketing is done at any given point in time. No other factor in the history of marketing has impacted it as profoundly and as permanently as technology has in the last few decades.
Unfortunately, the very options and advantages that technology has brought to us can also get quite confusing for the young entrepreneur with limited experience and a shoestring budget. Consultation from a branding expert (We tried it, so we recommend to you) can be particularly useful in such cases and is recommended especially if you are new at this. The idea is to incorporate technology and experience in such a way that your marketing goals are achieved within the allotted budget.
Let’s now take a closer look at some of the most prominent effects that it has had on big businesses and the nature of business marketing in general.
Online Marketing is Customized
Facebook ads are now customer specific and the tools at the disposal of businesses that use the social networking site to promote and market their products and services allow them to put very specific ads directly on a particular customer’s timeline. The demographic technology that Facebook has developed mainly for the purposes of marketing and advertisement has revolutionized social media marketing forever.
The tremendous amount of information that is fed into social networking sites, search engines, shopping sites, etc., is now all collected and stored for the purposes of identifying the right customers for the right businesses, and vice-versa. Ads and marketing content are no longer generic. Rather, they are specific to every individual customer.
Have you noticed how each time you visit Amazon, the products that the app or the site suggests to you are conveniently relevant to what you are looking for? The reason as to why they are so specific is because the search engines are part of a larger AI system that’s capable of learning more about you by simply going through details like your search history, purchasing history, wish list and the like. This creates an opportunity for businesses to identify the right customers for the right products, not unlike what social media sites like Facebook do with the info that users share on the site. It helps businesses identify which of their products or services are getting the attention they need, which ones are the most popular, and which ones are being completely neglected. With the help of that information, they can devise a marketing strategy that could help them bring some of their more neglected products or services into the limelight, or boost what’s already popular.
Online Marketing is Outperforming Traditional Marketing
Perhaps the most significant impact that technology has had on marketing is that it has changed the very landscape. Email marketing has mostly replaced direct-to-mail marketing and traditional advertisement methods are being outperformed globally by the various types of online marketing methods. As it stands, it’s also cheaper, more environmentally friendly (eliminates the need for paper) and has a far greater appeal to Millennials than marketing via print media. This is not to say that all methods of traditional marketing are dead by any means, but online marketing is most certainly the prime option now.
If you have a business, you will need to market it and in the world that we do business in today, you just cannot ignore technology and all it has to offer; not if you want to be successful.