The technological innovations have transformed the marketing practices in ways few had imagined before.
Emerging trends in mobile, cloud and wireless technologies have not only reshaped the consumer engagement but have left the traditional media way behind.
According to an Internet advertising revenue report released by the IAB & PwC, the digital ad revenue trumped broadcast television, generating a staggering $59.6 billion in 2015. As per their latest study, the internet revenue in 2016 saw a steady increase over the previous year totaling $72.5 billion. That’s an astounding 21.8% boost over the revenue generated in FY 2015.
With disruptive trends including mobile, social and AI driving the digital marketing growth, it’s time to look at the emerging technologies that will redefine digital marketing in the coming years.
Machine Learning, aka Artificial Intelligence, is slowly taking over digital marketing, helping companies make their products more efficient and services more productive with the use of customer data points. Machine learning essentially takes note of everything you do on your device (desktop or mobile) and then use the data to deliver information, ideas and customer service to improve the user experience. From search engine algorithms to programmatic advertising to email marketing, machine learning technology has made a tremendous stride in service delivery across many verticals.
Mobile phones are no longer just a tool for communication; rather, they have become an indispensable part of everyday human interactions. From booking a cab to ordering pizza to finding tourist and health information, there’s so much time we spend on our mobile devices that they are now the most potential medium for advertisers. According to eMarketer, an average person spends over 4 hours a day on their mobile device.
Moreover, as per the IAB/PwC report, mobile also made up more than 50% of the internet advertising revenue in 2016.
Google recently announced they were experimenting with mobile-first indexing since a huge number of search queries were occurring on mobile devices. This essentially means Google will now index your mobile page or mobile version of your web page first to deliver results to users. By Such a move is designed to encourage businesses to optimize their websites for mobile devices and offer consistent user experience on both desktop and mobile devices. This goes to show the power mobile consumption and how it is now influencing the marketing decisions across the world.
The burgeoning use of mobile phone usage has also resulted in technological innovation in payment platforms such as contactless payments via radio-frequency identification (RFID) and near-field communication (NFC). Amazon’s 1-click purchase and Apple Pay are great examples of contactless payments gradually becoming mainstream. According to the Mobile Payments report by Business Standard, mobile payment adoption is poised for an 80% compound annual growth between 2015-2020.
Social Customer Service
The unprecedented growth of social networking usage over the past few years has paved the way for technological innovation in marketing and social customer service. Since a large number of businesses use social media tools such as Facebook, Twitter, and Instagram to connect with their prospects and customers, the mobiles apps must become intuitive in design and functionality to match the growing needs of the marketers and consumers.
Recently, Facebook launched a unified inbox for businesses on Facebook, Messenger and Instagram. The Facebook’s Pages Manager app is designed to make it easier for brand managers to manage communications with customers on Facebook and Instagram without logging into separate apps. Moreover, Facebook has also built AI-driven messenger chat bots for companies to integrate their sales and customer support easily.
The technological innovations are slowly changing the marketing dynamics, prompting businesses to go beyond traditional promotional mold and think outside the box. In the ever-evolving technology landscape, businesses that can adapt to the cutting innovation and consumer behaviors will gain competitive advantage.