The digital age has altered the way businesses have started marketing their products and services. The technological transformations of the last decade have resulted in a simultaneous change in the marketing domain to keep up with changing times. Along with the rising usage of innovative technology, effective communication for marketing has also become a vital part of business organizations. Earlier television, print, radio, billboards and direct mail dominated the industry. Now the emphasis is on reaching consumers through the digital world.
By demonstrating what kind of product a business organization wants to market, one can get a better understanding of which marketing technique is more appropriate for that particular business and product. For instance, back in the days if a business had to market their product, they had to undergo multiple challenges in order to buy Ad spots in between TV shows with wide popularity. However, with the changing dynamics, there has been a major shift towards buying Ad spots on various search engines like Google and Bing..
Going digital has had massive consequences on how businesses function. Various properties of digital media, such as better and accurate metrics, combined with interactivity, have created a lot of new marketing possibilities. So, undoubtedly digital technology plays an influential role as a marketing tool.
Mentioned below are the developments that have changed the way we look at marketing over the last decade:
Insights Driven Marketing:
Consumer research is one of the most significant pillars of marketing. Understanding the needs and preferences of the consumers and accordingly selling it to the right set of target audience becomes very important. In traditional marketing, surveys and feedback forms were used to understand consumer behaviour. However, today, with the introduction of Data Learning and Data Analysis, one can gain insights on consumer behaviour and optimize the result, which helps in designing effective marketing campaigns. The use of programming languages like R and Python in researching the consumer activities on social media platforms and artificial intelligence in optimizing the search results is one of the revolutionary transformations that has taken place in the field of marketing.
Personalization of data is one of the most effective transformations for the digital era. It can be achieved by using big data or user-generated content. While big data can be used to create a unique experience for consumers, user-generated content empowers them. This form of content marketing gives the business marketer an infinite supply of creative input while building a bridge between brand and consumer. As per the reports published by BazaarVoice which is a leading digital marketing agency in Texas, 84% Millennials report that user-generated content on company websites has at least some influence on what they buy.
Data is the King:
Before the digital transformation, the single, biggest ‘blind spot’ in marketing was the insufficiency of high quality, useful data for marketing experts to make decisions. Analytics has been a game-changer for marketing, and digital transformation continues to emphasize just how useful it is going to be in the future of marketing. For example, videos on YouTube, Facebook, Instagram, and other social media platforms can tell a marketing team exactly how many people have watched or streamed the video. Moreover, if those people click on the “Call To Action” button that takes a viewer to the website, it’s easy to measure how effective the video is in grabbing the attention of the user. Additional information is also available, such as on which social media platform did people watch the video, demography of these people etc.
In other words, digital transformation is now giving marketing experts much more accurate user data and metrics, enabling them to tweak and optimize marketing plans and campaigns.
Digital transformation has had a massive, unprecedented impact on interactivity. Unlike traditional media, such as film, television, and music, digital media is much more interactive and gives people a choice over what they consume, how they consume it, and who they would like to share it with.
For example, websites can now give people options on what information they want to view and how they would like to consume it. Social media allows people to interact with organisations they would like to get in touch with, asking questions and getting responses in return.
The one on one communication model that has been developed over these years has helped businesses reach their audience with the content they would like to consume and engage in. This level of engagement and interaction wasn’t possible before the digital transformation, and it has changed the scope and nature of how marketers can approach their targets.