Marketing In Digital Age

Impact Of New Technology On Marketing

Submitted by –
Lakshya Gupta (PGDM22107)
Archita Mishra (PGDM22032)
Section – E
 The Impact Of New Technology
On Marketing

Technology has transformed marketing by making campaigns more

personalized and immersive for people and creating ecosystems that are more
integrated and targeted for marketers. And it’s not just the interface between
brands and people that have been transformed. New technology in marketing
has permeated the infrastructure and systems on which companies are built,
delivering value to procurement and adding to the bottom line.

In 2013, 47% of US marketers focused on creativity to drive marketing strategy.

Last year that number was 29%. In 2022, for 56% of marketers, both creativity
and technology will play an equal role in determining where and how they
engage with their customers. 30% will prioritise technology over creativity.

Understanding Martech?
Martech is a technology designed to help businesses achieve their goals in the
marketing field. First, it assists design an efficient strategy to market your
products with enhanced customer satisfaction.
Second, it helps marketing teams to assess, create, and advertise products
efficiently and economically. In a nutshell, martech includes AI, analytics, and
digital realms to increase marketing efficiency.

Importance of Technology in Marketing

Four vital reasons why technology is important in marketing: -
1. Keeping pace with competitors – Technology affects business culture,
relationships, and security. Martech helps you match steps with your
competitors and might even take you ahead. It gives value up-gradation
for your clients to see that you are adopting the latest tech trends in your
business.
2. Establishing effective communication - Effective communication is the
key to successful marketing. Martech affirms your communication with
your customers and provides quick resolution to queries. It also offers
better interaction and speeds up the shipment process in different
geographic locations.

3. Efficiency in operations - With the help of technology, businesses can

speed up their operational processes. For example, technology in
marketing helps you understand the business process faster, saving
resources and money. In addition, it helps manage warehouses, customer
relations, and finances efficiently.

4. Research capability - Brands need to acquire new opportunities for

growth for a successful business. Technology provides business insights
and credible data to improve their marketing strategy. Martech gives a
virtual view of markets and future patterns for designing new strategies.
 How Technology can Impact your
Marketing Strategies

1. Creating websites - A good quality website plays a vital role in

promoting your business. It is an economical and more effective way than
a physical mode of marketing. In addition, it gives your brand exposure to
a wide range of clients.

2. Digital marketing - Due to the many benefits of digital marketing, it has

been adopted by many businesses. Digital marketing plays a vital role in
conjunction with social media to promote brands. This way, martech has
enhanced its reach with target audiences. It allows you to engage
audiences and know what your customer wants from your brand.

3. Optimizing Search Engines (SEO) - SEO plays an essential role in

promoting your content and adding visibility to your brands. If it doesn’t
hit the first page of SERP, any content will be a wasted effort.
Technology in marketing helps you design the right content optimizing it
for search engines. This way, you can improve your ranking and attract
more traffic. In addition, it also generates a lead for your business growth.

4. Content marketing - Content marketing has been a good old way for
marketers. It is a proven method and is applied by more than 90% of
businesses worldwide. With Martech, there are many options available to
enhance your content creativity and engagement. Apart from being an
indirect way of marketing, it is also used to improve SEM and SEO.
Therefore, businesses must adopt technology in their content strategy to
gain a lead and further harness it.

5. Email marketing - Email marketing is the best way to increase your

brand loyalty. More than 80% of people accept that they may skip their
messages, but they read their emails. Thus, technology in marketing must
be designed to deliver a series of emails to customers right from the
inception stage to after-sales services. A great example is how Amazon
and other e-commerce platforms are doing it.
 Marketing a Product

Marketing Channels
The focus of marketing has shifted from competitive advertising to the
collection and distribution of data. New technology for marketing has revealed
hundreds of ways to understand businesses and consumers, and even more ways
to reach them. However, with all this new information available, it becomes
difficult to organize and analyse everything.
Marketing research is now easier than ever. Virtually all businesses and clients
have access to the internet. Tools like customer relationship management
systems are also becoming more popular. There has been a significant rise in
social media marketing as well as marketing on web pages. These marketing
channels need to be monitored, analysed, and customized. Other businesses do
this for every product and client.
Other marketing channels on the rise include:
 Banner ads
 Sponsored online content
 Blog posts
 Online reviews
 Mobile ad formats

Direct Marketing
Because of how powerful database technology has gotten, it is easier to market
to an individual than a target group. Information is collected through things like
surveys and polls. The most exciting development in this field is permission
marketing. Permission marketing allows businesses to collect information about
consumers for direct marketing.
Many tools are available to personalize direct mails and track and target their
marketing information. More accurate information, collected and organized in
databases, is the key to good customer relations.
Social Media
Social media and the internet allowed for innovations in marketing and
business. Location-independent companies rely on social media tools for
advertising. Many entrepreneurs have started creating businesses that don't have
physical stores or offices. Online businesses are the dream for various groups of
people. Working for these businesses is advertised as "working from your
phone on an exotic beach," but there's a lot more to it.  

Impacts on the Organization

From the organizational perspective, technology has impacted the ability to

collect and organize marketing data, the channels the organization can use to
reach consumers, and the process of developing different types and formats of
advertising assets. Organizations have more data, more marketing formats, and
more online places to communicate with consumers (i.e., social networks,
blogs, search engines, YouTube videos, etc.).

When considering the impact of technology as a marketer, what's most

important is maintaining a full scope of the relevant options and channels that
can be utilized to communicate with prospective and existing consumers:
 Search engine results
 Social networks (paid and organic)
 Banner ads
 Sponsored online retail content
 Online reviews and ratings
 Blog posts and web development
 Online video content (paid and organic)
 Impact on Consumers

Access to Information
Consumers now have access to all public information regarding a product or
company at the touch of a button. Because of this, consumers are more
discerning and often will research a business before buying from them. Thus,
marketing strategies have evolved to include video ads and banners. These ads
usually redirect to web pages with information about the product. Companies
also hire people to promote and review their products online. 

The internet has also made it possible to compare prices easily. Because of this,
there is more fierce competition regarding costs. This is great for consumers, as
often the competitive companies will have special offers and promotions. 

Ad Blindness
Consumers face a barrage of information and advertisements as soon as they
open their eyes. Almost everything you see has an advertising strategy involved.
One can't even drive to work without seeing billboards and hearing ads on the
radio. Our cell phones are always in our faces with full and colourful adverts. 

It has become such a norm that many people, consciously or subconsciously,

completely ignore most marketing and even grow to avoid it. Businesses have
to work extra hard to market their products in an eye-catching and tasteful way
but not like anything that has been done before. As one might think, this is a
tough task. Many businesses have developed innovative ideas and technologies
to catch consumers attention.

Conclusion

Developments in technology have taken the whole world by storm and forced
almost all industries to change. Marketing is somehow simultaneously easier
than ever, and more difficult than it has ever been. Many more developments
are being made every day, and we are excited to see them unfold.