According to Statista, global data shows that marketing technology transactions reached a record 166 deals in 2021, nearly doubling the figure recorded in 2020. This means more companies are investing huge amounts of capital in digitizing and automating their commercial strategies to catch more customers. In addition, there was a fast surge in deals of $100 million worldwide to implement IT tools.
Digital marketing is the space where every purchase intention becomes an effective sale for a business. Without the appropriate techniques and methods, companies couldn’t sell their products and services the way they massively do nowadays. If you want to become a marketing expert with a special focus on technology usage, read this article. In the article below, you’ll see how the marketing world is being tech-driven.
How is Information Technology Innovation Changing the Sales and Purchases of Products and Services?
The new software and hardware innovations pledge a bright future for the growth of marketing as a solution in user experiences. This is just one of the varied targets of IT tools applied in marketing. Let’s see what’s going on.
Chatbots and Conversational Artificial Intelligence (AI)
AI has made life easier as the interaction between humans and machines gets up to a higher level. According to Drift’s State of Conversational Marketing report, almost 42 percent of consumers use conversational AI and chatbots for purchases. Therefore, users can now live a more fluent and automated purchase experience by receiving a guide on what and how they can buy what they need.
Customers respond positively to AI-powered chatbots since they can provide quick responses at any hour of the day. As technology grows, IT software digitizes and speeds up the interaction while making a purchase decision. The target is not to make it a tech-based commercial process but to make it an enjoyable experience to improve daily life.
Marketing strategies can be boosted by mobile devices and voice services like Microsoft Cortana and Google Assistant. Users access different information searches about the products they are interested in by using voice commands. This technology is gaining popularity to the general public.
Voice search helps small businesses to stand out among their competitors. It also helps you increase the chance people will find your website or content marketing materials by just speaking through their smartphones on Google. Though it might seem simple, this software is more complex and advanced than you think.
Data makes all things possible when changing a marketing strategy based on specific consumption and purchasing patterns of a determined target audience. Trends in 2024 for data analytics in digital marketing pivot around predictive data to make it smarter, scalable, more flexible datasets, edge computing for faster analysis, and hybrid computing.
These implementations blend off-premises and on-premises cloud solutions, which can accelerate using resources from databases in specific sales and projects. Another issue that shows high growth is machine learning-driven solutions that include augmented analytics. Engineered decision analytics, visualization for better decision-making, business management, and insights and automation will also occur.
Social Media Marketing
IT tools and innovations will establish an inflection point in the scope of social media over the way people buy things. In 2024, it’s expected to see the video, Instagram, live streaming, and podcasts dominating the market. Besides, Facebook and LinkedIn will also be increasingly influential, particularly as influencers use them to promote themselves and brands.
New Areas in E-commerce
E-commerce is not the same today as a couple of years ago. Right now, consumers want digital purchases because they can feel even more informed about products. Trends in e-commerce in 2024 are based on Web3, where businesses use Defi trends to boost their profiles. E-commerce platforms migrate to decentralized finance and payment options like blockchain, cryptocurrency, and non-fungible tokens (NFTs).
Businesses customize their shops and product supply to adapt them to a better usage outcome after the client buys and enjoys their product. Here’s where technology provides an experience that makes customers come back and become followers of the brand. In 2024, the market is expected to rise in highly engaging UX, emphasizing interactive, experiential, convenient, and personalized experiences on websites and apps.
The metaverse is a relatively new and disruptive concept that will change how we interact with reality and society. In the digital marketing world, this won’t be an exception. The metaverse is a futuristic blend of virtual reality (VR), augmented reality (AR), and AI.
This innovation is expected to boost commercial digital transactions through peer-to-peer economic relationships. The highest point of this development is the new 3D immersive experience where users blur the physical with the digital to exchange ideas and socialize.
How Can You Implement New Technologies in Your Digital Marketing Campaigns?
- Analysis of Current Technology: You have to explore the landscape and use innovative applications and platforms to boost your marketing performance. For example, DesignEvo is an excellent tool to create and design the visual logo concept to identify your brand.
- Identification of Use Cases: Take a deep look at what you want to achieve with IT software as a marketing outcome. Decide whether to focus on digital assets, run external or internal campaigns, hone in on analytics and measurement, data warehousing, or several areas at once to provide automated services to digital consumers.
- Selection of Digital Tools: Analyze meticulously the tools you’ll need to generate accurate content traffic. Apply programs and apps to give solutions and then progress towards niche operators. You need to master the MarTech universe to turn the company into an IT-based business.
- Definition of Roles and the Marketing Technology Operating Model: Another important decision you have to make is the operating system that will run the functions of the IT network and infrastructure of the company. Implement automation and e-commerce tools to speed up processes and avoid interdepartmental delays, which will make the MarTech project work through real-time tracking databases.
Key Points to Boost Digital Marketing Strategies
The first thing you have to consider is that people want to read and get more information about what they need. You can turn your users into real content creators to catch even more customers and create a whole community of consumers and followers. With this strategy, you will increase the company’s promotion without investing too much money in traditional advertising.
On the other hand, you can also transform it into a multichannel company. This is the disruption of multimedia and multitasks platforms used in modern marketing. Although users have already gone multichannel, many companies are still in the process or doubtful about expanding their digital scope. Apply social media and content management tools to deliver segment information with a 360-degree view of each consumer.
Digital marketing has no other direction but to go forward and grow as the evolution of technology fuels commercial transactions through IT platforms. If you’re a marketer and want to improve your marketing strategies’ effectiveness, implement the innovations and tips mentioned above. Be as accurate as you can and always focus on customer experience.