How Technology Is Changing Marketing

Take a look around, and you will see that the world is changing rapidly. Technology and how we interact with it are the key driving forces behind this change. As the time we spend on our devices grows evermore, it makes sense that marketing should change, as well.

Our lives are vastly different from twenty years ago. The way we get our news is different, as is how we buy our products. Also, those products are marketed differently.

Marketing Landscape Changes

Perhaps the most significant change is how quickly companies can target a specific audience. Gone are the days of the scattergun approach when businesses would set out a broad campaign and hope for the best.

Data collected from different sources around the world has made marketing more efficient than ever. Around 70% of U.S adults now have a social media account, giving companies unparalleled access to customers.

Even though social media marketing statistics show only about 2% of customers purchase on their first visit, Facebook allows companies to use Retargeting Ads, which will enable you to track customers who have visited your site but didn’t purchase anything. That lets you reach out to the people who have already shown some interest.

Real-Time Interaction and Retargeting Ads

Customers now want real-time interaction, and this is where technology steps in. There is no need to scan newspapers or magazines, simply subscribing to the latest information from your chosen companies allows them to parachute customized deals directly to your inbox.

Businesses are also able to blend advertising with the real world like never before. A great example of this was Red Bull’s #thissummer campaign, which proved to be an enormous success. By adding yellow filters to many of their photos in the build-up to summer, they were twice as likely to be associated with the hashtag as their nearest competitor when the summer kicked in.

Content

Technology allows companies to put out useful and relatable content quickly and easily, often in the form of blogs, videos, or webinars. While this content may not push customers actually to buy a product, you are building a platform for online engagement.

For example, a company providing online stock market training might release a blog post called “Ten things to look out for the stock market in 2020.” The article itself has very little economic value but provides a human side to a business that customers can interact with.

Ideally, companies should provide at least one piece of original content each week, and if possible, 2-3 times. This extra publicity works in your favor with search engines, and done diligently, is likely to evolve into real growth. Writing between 21- 54 blog posts might generate up to a 30% increase in blog traffic. Now, of course, that means nothing if you don’t have a sellable product. But if you do, however, it can lead to a sizable increase in sales.

The Takeaway

These points led to a massive increase in marketing spending. Businesses are now spending more than ever on their marketing departments. With so much waste being trimmed off because of more targeted approaches, companies seem more willing to invest in digital marketing.

In 2019, the global total for digital advertising spending was around $333 billion, an increase of 17.6% from the previous year. As we move into 2020, the digital marketing race it will only get faster and harder. Get ready and embrace new trends.