Digital technology has completely reshaped how businesses of all shapes and sizes do business, particularly in marketing and advertising. The way consumers discover, purchase, and engage with companies has changed immensely over the past few years, thanks to digital technology.
The growth of social media and e-commerce alone have completely upended traditional ways of marketing to your customers and potential clients. Digital trends are so powerful and pervasive today that a full two-thirds of B2B marketers report that digital marketing activities are already responsible for sales revenue.
With that in mind, let's look at the evolution of digital marketing and how it has forever changed the advertising world.
Traditional marketing methods have become less effective as consumers have become savvier about advertising tactics. Marketers are challenged with finding new ways to connect with their customers, and digital technology has provided a solution.
Social media platforms such as Facebook allow marketers to advertise directly on the platform for free or at a low cost. With just one click, marketers can find out exactly who visited their page and make tailored posts for them.
Marketers use social media channels to generate buzz around products by creating content that will be shared virally, leading potential customers to visit their sites.
They also use social media ads targeting specific users by age, gender, and location to offer promotions most relevant to them.
Businesses use modern tools to create content for social media. Some also utilize AI (artificial intelligence) to analyze consumer data collected from different sources to learn about preferences and provide personalized promotions based on this data.
Digital technology has changed the way people consume information. With the internet, it's easier for brands to connect with their customers through social media platforms, blogs and emails.
The evolution of marketing has also led to a shift in how advertising is done. It's now less about interrupting consumers and more about being present in their lives - when they want it and where they need it.
Consumers have come to expect a lot from brands, as well as from themselves.
In today's world, data has become a powerful tool. It has become so important in marketing that many advertisers use it to target consumers more effectively than ever before.
They do this by compiling data on each customer and using it to get a sense of which segment they belong to. This allows them to make informed decisions about which customers to target with their marketing efforts.
For example, if an advertiser sells sneakers, they might want to use their data to figure out how people who purchase running shoes differ from those who purchase basketball shoes. They would then be able to better tailor their ads based on the type of customer they are trying to reach.
Social media is now an integral part of marketing. Today, platforms like Facebook and Twitter are used to help connect with your customers. They can also be used to share different types of content and create a dialogue with your audience.
Videos prove to be the best way to connect with the audience, and with online video editing software being available, it's now become easy to edit a video online.
It's important to remember that social media marketing isn't just about creating posts or tweets; it's about connecting with people interested in what you offer.
Augmented reality (AR) is a technology that enhances what we see, hear, or experience. By layering digital information on top of an image in your field of view, AR alters your perception and understanding.
For example, a retailer might overlay product information onto an image to show how products would look at home.
One of the most common uses for this technology is in gaming apps, where users can find themselves inside a virtual world created by designers who can add their personal touches. With these innovations, marketers can engage consumers like never before.
Virtual reality allows consumers to experience a product before they buy it. This could be a game, an item of clothing, or a new car. It's only been since 2013 that virtual reality has been accessible to most people, and in that time, it's changed how we interact with media and marketing.
VR headsets are becoming more affordable, allowing brands to create such content.
If a brand creates a 360-degree video on YouTube, viewers can put on their headsets and have the same experience as if they were right there at the filming location!
Brands are partnering with influencers to reach new audiences. Influencers have a trusted voice within their niche, so they can introduce brands to an audience that may not have been aware of them before.
In addition, influencers are often more relatable than a traditional company, and their followers are likely to trust their recommendations.
With these points in mind, companies such as Starbucks and Nike use social media stars like Gary Vee (author) and James Charles (beauty guru) to promote products on Instagram.
A good way for brands to find influencers is by searching hashtags related to their products or services on social media platforms like Instagram or Twitter.
Chatbots are a new form of customer service that can be used to answer questions about products or services and provide purchases or other information. They are being increasingly used in marketing today and could replace some human interaction with customers.
In addition to these traditional customer service functions, chatbots can also provide coupons and discounts to customers who might not otherwise have access to them because they don't have credit cards.
There are a lot of ways that blockchain technology can be used in marketing.
One way it's currently being used to track consumer behavior is by using it to understand which ads consumers have seen and which they've clicked on. Blockchain makes it easier for marketers to manage contracts with influencers and payments.
Finally, this new technology allows for direct purchasing through cryptocurrencies instead of waiting for traditional payment methods like credit cards or PayPal.
Marketers need to adapt to these changes to remain relevant in this digital age. This can be achieved by understanding what consumers want and delivering it back to them.
In the words of Seth Godin, you need to give people what they want even before they know they want it.
For example, Netflix has taken off because they understood what the viewing public wanted better than anyone else - an unlimited number of titles at their fingertips with no late fees or wait time. They gave us what we wanted better than anyone else and reaped the rewards as a result.
It's clear that digital technology has transformed marketing, but it's more complex than no more print. It's a new era with new opportunities and new challenges. Some emerging practices in the modern world of marketing include video editing, the use of graphics, influencer marketing, creating relevant content, etc.
As marketers and advertisers, we must adapt to these changes to stay relevant. The best way to stay ahead of the curve is to stay informed about what's happening in our industry and ensure we're staying on top of trends.