Just like with the industrial revolution, technology is changing nearly everything about the world as we know it. This includes the economy through virtually every industry. Most importantly, this means the marketing that strings these industries together.
As evidence of this, digital marketing has taken over nearly every company’s main advertorial strategy.
So… what are the details of this? How is technology changing marketing? Let’s dive in and find out!
Technology and Data in Marketing
It’s hard to walk two feet without some form of access to the news or the internet. As a result, this probably isn’t the first you’ve heard of data-mining and information sales. As a matter of fact, big data is the fourth fastest-growing category in the arena of tech startups!
Why is this area so fast-growing? Simply put, technology is making data a crucial part of all sorts of marketing. This goes beyond what may initially come to mind! In fact, research shows that marketers with heavy reliance on data-driven analytics experience roughly 500% return on investment on marketing spend. This is unheard of in other areas of marketing.
As you can imagine, it’s unlikely to stop there. The internet is continuously growing and more and more users are being added every day. This means more data with each passing year and that means an ever-growing reliance on it for digital marketing campaigns.
Marketed Content Is Easier to Find
Before technology was so ingrained in our society, marketing campaigns were typically door-to-door, cold calls, and other “in the moment” practices. However, social media and other technologies have expanded upon this significantly and opened up a whole new world of potential.
Currently, Facebook alone has billions of users. Other platforms have hundreds of millions of users as well. In the earlier marketing campaigns mentioned, success was reliant on potential customers being in the right place at the right time. In contrast, modern marketers merely have to publish content online and anyone anywhere has the ability to see it at any time.
Modern technology makes it possible to reach nearly half the planet in seconds. The only limits are language barriers and the size of a firm’s network. This is what has led to such a reliance on influencer culture throughout social media.
Reduced Marketing Costs
Speaking of social media, we’re also going to dive into just how much social media does for the marketing world financially. Having this platform has significantly disrupted traditional marketing for a number of reasons that we’re going to explore.
Firstly, social media drastically increases the market penetration of word-of-mouth campaigns (some of the most effective campaigns to begin with since people trust recommendations). In addition, it has dramatically reduced the cost of these campaigns in the process since it is so easy to get maximum results from minimal effort (and fairly low costs).
To put it into perspective, a single employee can get away with spending merely one hour a day managing a business’s social media accounts and ad campaigns. This is in contrast to the teams of people and days/weeks/months of work and effort in traditional advertising departments.
Additionally, the same amount of work done in these traditional campaigns can then simultaneously be applied to increasing consumer engagement. What does this mean? Simply put, it means responding to comments, reaching out to users who are engaging, and enticing new customers to follow in the process.
This alone opens up a world of potential as well since marketing teams can brainstorm the tone they want their social media accounts to have. Some sales are made solely because users find the account to be funny as they share meme or GIF responses to questions. A great example of this is Wendy’s Twitter account.
Trade Shows are Becoming Vital
Finally, this brings us to trade shows. As technology becomes increasingly important in marketing, trade shows are also booming in terms of attendance and frequency. This is because event staffing agencies (which are critical parts of most marketing campaigns in the modern age) need to be up to date on innovative technologies.
Since technology is progressing and involving at such a fast rate, marketing teams have little time to adjust and adapt. As a result, people are often jumping to find trade show staffing agencies that can help them keep up.
Whatever your takeaway from this article may be, one thing is certain: technology plays a vital role in modern marketing. Technology and innovation have always played a key role in the marketing profession, and this is true now more than ever with the digital age.
Now, countless companies around the world in virtually every industry are dependent on technology and digital platforms for their marketing needs. These numbers are only growing, so you can rest assured that technology will continue to take on greater roles in the future of marketing.