- Posted by Gautam Kotwal
Evolution – Yes, you heard it right. The world is undergoing constant process of evolution and change is bound to happen – look how advertising and promotion has evolved over time! Today’s digital age has revolutionized almost each and everything in marketing – from awareness creation to post-sales support.
Over two billion people are currently active users of social media only, and many more are connected through other digital channels. This makes it a great tactic to explore and leverage for promotion, branding, lead generation, lead nurture and what not! But this is not the end, change is inevitable and digital marketing is also evolving. Marketing accompanied by new evolving technology are revolutionizing ways to reach target audience, make faster decisions and create ultimate customer experience.
Some of the latest trends revolutionizing the way business is done, are as below:
1) MARKETING AUTOMATION:
A software that makes not only marketers life easier but delivers great value to your customers as well. Tasks like auto responding emails, social media posting, and other web based actions can now easily be tracked and managed by a marketing automation tools. They make the action to happen just at the right time with right messaging. Many companies are developing marketing automation tools, looking at the futuristic customer requirements with integration of AI.
2) GPS ENABLED ON-THE-GO COMMERCE
Imagine you are outside BestBuy and suddenly start seeing best deals from Amazon for electronics. Super, right? Yes, that is what your mobile phones are doing for you – with GPS and location based digital advertisements on your smart phone.
According to Statista research, the number of smartphones’ users around the world surpassed 2 billion in 2016. With connected technology and innovative applications for mobiles, retailers encashing an unique opportunity to reach customers anytime and anywhere in the most relevant way.
3) ARTIFICIAL INTELLIGENCE
It may be the next big revolution in digital marketing after the internet. Logical, repetitive and time-consuming activities can easily be handled by AI, there by freeing the marketers from routine activities and leading them to be more productive and creative.
In coming times AI will be available as a service. More AI based products will be built for various applications and there will be plenty of open source libraries to use.
4) BIG DATA MARKETING APPLICATIONS
Market research firm Ovum estimates the big data market will increase from $1.7 billion in 2016 to $9.4 billion by 2020. As businesses mature and put new structures and roles in place, big data will begin to become increasingly useful and utilized. Big Data marketing applications include market and customer insight and predictive analytics. The businesses experiencing increase in volume, real time data and data formats want to exploit marketing through personalization (of websites, email marketing etc.)
5) MARKETING APPLICATIONS FOR INTERNET OF THINGS (IoT)
For past couple of years IoT has been the buzz word in the industry. IoT is one of the biggest technology trends which promise to bring connectivity of the internet to consumer devices and appliances. Thus, not only making devices and appliances smarter and efficient but giving all the power to marketer to better understand the customer. There are expected to be 75 billion connected devices by 2020.
Marketing applications for these connected devices are yet to be exploited to its full potential. However, currently it is more relevant for device makers and retailers. The implications for marketing applications for IoT are huge and far ranging.
Species that adapt survive, according to Charles Darwin. Strategies and platforms are evolving in the digital age, and marketers are engaging on channels that didn’t exist a few years ago. Thus modern marketer must be agile and scrum player. But while change spawns creativity, the goals of marketing should remain constant.