Technology in Marketing | Benefits & Impact on Business Growth

Advertising concepts have become more popular and realistic in today's world. Starting from advertisements in newspapers to displaying them on mobile apps, the advertisement market changes its course rapidly. Currently, mobile apps are becoming a great source of advertising as most of the world's population is present here.

The digital space is highly competitive, and marketers need to try something new to stay ahead of the competition, which has increased the technology role in marketing. More than 56% of marketers, both technology and creativity play an equal role in determining how and where they engage with their targeted audience. More than 30% prioritize technology over creativity.

The past was the days when the print industry was a crucial medium of mass interaction, but online marketing has steered into a revolution that has evolved the marketing landscape to a great extent. The role of modern technology in marketing coupled with elements like PPC, SEM, SEO, and SMM has become vital as it plays an important role in providing measurable results.

The marketing industry, with the technology's help, is growing by leaps and bounds. Modern technology is the foundation for a successful marketing approach which needs to be developed and implemented to fetch the desired outcome.

Advertising with Latest Technology

The advertising field is an evergreen field that keeps up with the latest technology trends and keeps delivering excellent results with them. Therefore, the implementation of advertising concepts will bring up better results shortly. Technology is continuously changing the marketing landscape.

Digital advertising spending amounted to around 378.16 billion U.S. dollars in 2020, growing and not contracting versus the 2019 figure in spite of the economic effect of the pandemic. However, digital video advertising spending in 2021 in the U.S. reached around 55.34 billion U.S. dollars. The report shows that the spending will jump to 78.5 billion by 2023, and it is expected to grow double during the forecasted period.

Getting inspired by the digital and video ads, many marketers are choosing to advertise on a video streaming script as they find it a more effective way of grabbing results. Continuous technological advancements have enabled advertisers to create effective marketing campaigns and reshape marketing strategies. Web and social media are wider, and advertisers use the digital space to get connected with their targeted audience and increase their reach. Let's know how technology is beneficial in marketing.

Artificial Intelligence and Machine Learning

Artificial Intelligence (A.I.) and machine learning (ML) algorithms have enabled us to get our every demand entertained by the machines who learn from our behavior. From security concerns to answering customers, AI and Machine Learning have come far from where it all started, and the progress is never-ending.

Gartner's report shows that more than 30% of companies worldwide are using A.I. and ML to boost their sales process, while many are planning to use these modern technologies to increase their business sales in the future. Advertising a product has become easier than ever with A.I. and machine learning-enabled machines understanding the user behavior and observing their interests to promote products and services of their choice efficiently to increase sales and earn profits.

IoT (Internet of Things)

The Internet of Things has taken the entire world by storm with storming technological concepts, stunning devices, and excellent execution. While progress in this field remains questionable, IoT delivers outstanding results by connecting a set of instruments to form an entire network of devices that work as commanded. However, advertising with IoT becomes more comfortable as the advertisements for connected devices and their extensions can assure customers of maximum usability and generate excellent results.

Blockchain

This technology has a great ability to offer greater value to almost all sectors. With Blockchain technology, customers and marketers have the ability to check and account for actual customer engagement directly. This can help in decreasing the lots of intermediaries in a process and helps save companies money and time. Moreover, this technology helps to combat ad frauds, increases viewability, and provides great privacy.

Augmented Reality and Virtual Reality

The AR and V.R. market is estimated to grow from 6.1 billion to 20.9 billion between 2020 and 2025; it is predicted to increase at a 27.9% CAGR. The growing use of these technologies in healthcare, the eCommerce sector, and marketing has resulted in market growth. The concept of A.R. and V.R. is changing business approaches across industries. And it does an excellent job for the advertising industry as the ability to deliver a live experience is the best way to convince customers.

For example, advertising a streaming business or product through AR/VR can be made easier. The customer using the app is displayed advertisements using the A.R. and V.R. concept, and they can try on the products and see if the shade matches. Augmented reality and virtual reality can do a reliable trick here in convincing users to buy the products.

Chatbots

When it comes to implementing A.I. concepts, Chatbots top the list, eliminating the need for redundant answering and ensuring complete customer satisfaction; chatbots can innovate how a particular business conducts its customer service operations. Therefore, by using chatbots, a brand can establish good communication with their customers and provide excellent business results by advertising and marketing the products and their prices.

Most customers love when they are answered quickly. By 2020, consumers can manage around 85% of interaction with a brand without even speaking with humans. It is found that 40% of organizations will add the technology to their system to interact with customers and offer them a great satisfaction rate by using customer feedback to enhance products and meet their expectations.

Conclusion

The latest technology trends work their best to implement the best chance in the advertising world. It's entirely up to the advertiser to see what they can use for effective campaign execution and ensure the best results. However, constructing an excellent advertising strategy is necessary to provide advertisers with great products and ensure the planned campaign's effectiveness.

With the help of technology, advertising businesses can grow their business over limits by crafting creative plans using all the technical support they can gather through today's innovative technological tools.

Author Bio

Gaurav Kanabar is the Founder and CEO of Alphanso Tech; an India-based IT Consulting company that provides PHP Ticket System and other app development services to individuals as per their business requirements. Besides this, the founder also loves to deliver excellent content helping readers to have deep insight into the topic.

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