Emerging technologies have altered marketing as we know it. Over the years, technology has played an intrinsic role in the development of marketing. As newer technologies enter the scene, marketers cannot help but push themselves to keep up so that they are speaking the language of their audience.
In this article, we look at some of the newest technologies that are reshaping marketing strategies in 2019.
AR and VR
Augmented Reality is a revolutionary trend that has fascinated us by introducing a new layer to the real world. It allows customers to experience a different world and increases customer engagement with a product.
Brands are finding more and more uses for Augmented Reality and Virtual Reality, and they continue to experiment with them. There is now a high expectation to help brands with different things like:
- Assisting sales
VR is continuously introducing new methods to use narration in marketing campaigns such as virtual trips, virtual dressing rooms, etc. while AR as a social media tool has made way for the same by incorporating virtual experiences, fun filters, and initiating a new world to everyday objects.
Facebook has already introduced Spaces that transports users to a virtual world, while Snapchat Lens Studio has made the creative use of AR a lot easier. As for Instagram, we already know it has AR in its Stories, and we are expecting more soon.
As consumers are enjoying these immersive experiences, it lends a big opportunity for brands to use these new technologies to get attention and further their experiential marketing.
AI and Bots
Artificial Intelligence is proving to be immensely useful in marketing strategy. Consumers are starting to feel more and more comfortable having conversations with chatbots and digital assistants. As a brand, this personalization can help you build strong relationships with your audience.
Despite the popular apprehension at the initial stages, consumers are now open to benefit from these interactions. As a matter of fact, AI has already transformed patient care and healthcare operations in a big way. As more chatbots are showing up, it is significantly changing social conversations, eCommerce, and customer support.
As a marketer, it is essential for you to incorporate the human element in your AI marketing. If you train smart technologies, it can only become smarter. An effective marketing strategy that uses AI should stay original and be sincerely helpful. Replacing human interaction should not feel automated, which is why you must find a way to make the conversational interactions as natural as possible.
The rise of cryptocurrency and blockchain may probably be the biggest bet of this decade. This trend peaked in 2017, and we’re already seeing rapid developments in 2019. Predictions made by Grand View Research claim that this market will hit $7.74 billion by 2024.
By decentralizing access to data, it will bring about a major change to marketers and users, evolving business transactions.
Blockchain addresses problems like:
- Data security
- Data ownership
- Data privacy compliance
These are elements that will change the global business world, and brand and marketers simply cannot overlook it. Blockchain may still be at its early stages, but the shift is undeniable and business owners are already exploring how it will impact their marketing strategies.
Data will no longer belong to anyone. It will be harder for brands and marketers to get attention, and they will have to pay customers for it. With decentralization, people will get direct access to their personal information, and it will become harder to build and maintain customer relationships, although more genuine. Advertising will be one of the first disciplines to be affected. The good thing is that as a marketer, you will have greater trust knowing that your marketing efforts will reach precisely where you want them to go. The known downside is that you will have to pay to get that attention.
Blockchain and IoT
Imagine two world-changing technologies becoming a part of each other. Blockchain, along with the power of Internet of Things can make a massive impact with decentralized access to data and enhanced security.
Consumers will feel safer to trust the two technologies working together, and marketers will have to find a way to integrate these two emerging trends.
By using these two technologies daily, you can boost their adoption rate. Brands already know the implication of blockchain in their marketing strategy and to adopt IoT, they will need further planning.
If you prefer to get ahead of the game, you must explore these scenarios early on and try to understand how marketing will change in a world of data transparency. There are many questions that haven’t been answered yet, but there is no denying that this new trend will influence the way we define marketing, transparency, security, and ownership.
It may even bring about a better relationship between consumers and brands, provided both parties are willing to embrace the change.
Enhanced Live Video with New Technologies
Live video is currently one of the most popular trends in digital marketing, with over 51% of marketers worldwide claiming that it has the best ROI. Brands are more willing than ever to try it as social networking sites are investing big-time on live video.
2018 was the year that took live streaming to the next level, and this year social networks are already adding new features to it to up the game. It has given brands the opportunity to reap even more benefits from the immersive experience that live videos offer.
For instance, you can now include more people when live streaming on Instagram stories. This has proven to be valuable for Instagram takeovers or influencer marketing to bolster engagement and awareness. Another significant shift is the Donate button on Facebook’s fundraising live streaming videos.
The next big challenge will be the introduction of AR to live streaming. This will blend another upcoming trend as part of an interactive medium.
Live video has given immediacy to interaction and people are already loving it, especially when it is authentic and creative. Brands can hone in on this opportunity to captivate their audience and gain new followers using this medium in unique ways.
This year we have seen several technological trends becoming a part of our daily lives. As we have already gotten a taste of their initial test phase, it is time for marketers to explore how they can implement it in their marketing strategies.
A marketing strategy that incorporates emerging technologies must understand the needs of the consumers, the way they interact with technology, and what they can expect from it all.
Upcoming technologies are ushering in a new generation of experiential marketing that augments engagement, conversion, and awareness. All these are helping brands to uncover a meaningful relationship with their consumers which give way to better customer experience.
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