Effective marketing is essential for any business. Those firms that are constantly evolving and changing the way they tell potential customers about their products and services are the ones that grow fastest. This is the case regardless of size or the industry that a firm operates in.
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That is why most businesses invest a significant percentage of their profit into marketing and advertising. The U.S Small Business Association recommends that their members spend 7 to 8% of their gross budget on advertising. According to Statistica, in 2020, the US department store sector invested a staggering $2.23 million into marketing. But to be effective it needs to be spent on the right type of marketing. Increasingly, that means using the latest tech to uncover opportunities and create campaigns that the right people notice and respond to.
One of the most surprising trends is chatbot marketing. After a rocky start, it is gaining traction mostly because consumers are gradually accepting that they are the future and realising that for certain queries they are the fastest way to get the information they need. For businesses who put in the time and effort to set them up properly they eventually turn out to be great time savers. This study explains more about how this can be done.
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Digital display screen advertising
Display screens are another example of a marketing tool that has taken time to gain traction. But now that it has the take-up rate is phenomenal. Digital signage solutions are now widely used. In particular, by retail outlets, which use them to target specific types of buyers. The display can be changed repeatedly, which makes it possible to create ads that convert in the way that static posters could not do.
After making the initial investment this form of marketing works out to be incredibly cheap. Especially for those business owners who take the time to learn how to create their own adverts. Something that is becoming increasingly easy to do. Using digital display advertising software, it can be as easy as changing the photo and wording on a template. Then, set it to play as part of a slideshow.
Voice search SEO
A staggering 53% of consumers carry out at least some research online before making a purchase. Often, they buy from one of the websites that they come across during the research process. So, it is still vital that firms rank well in the search engines. In the past, most searches were done by typing. Now, people are just as likely to use their voices. That means businesses need to set up their websites to rank well for the way people speak when doing research online.
Machine learning and AI data analysis
Firms that monitor their marketing campaigns and use that data to tweak things get the best results. But ploughing through all of that data is time-consuming and beyond the skills of many business owners. As a result, most neglect to properly monitor the effectiveness of their marketing. Software packages that use machine learning and AI are gradually making the process of doing that easier.
Live video stream marketing
Consumers are increasingly buying more online. But many of them miss the personal touch. Particularly when buying big items. During the CoVid crisis, many firms tried out using Zoom and other live video apps to try to provide one-on-one face-to-face support for their customers. It worked out so well that some have continued to offer that service, despite being open as normal. Consumers who have used it, like it, so are beginning to ask other businesses they interact with if they also offer live video support. That in turn is persuading more firms to give live video marketing a try. It is not complicated to set up and does not cost much, which is one of the reasons it is gaining traction so fast. It is estimated that by 2028 video stream marketing will generate revenues of $223.98 Billion.
Social media campaigns set up and run by customer-facing staff
Business owners are increasingly realising that the best ideas come from those people who spend the most time with customers. They have the best understanding of what they want and therefore come up with marketing campaigns that catch on fast and go viral. Taking people off the shop floor and letting them be the person responding to customers during social media campaigns works particularly well.
A few of the above new marketing technologies may gradually be used less. But there is no doubt that new ones will emerge and be adopted as the tastes of consumers and their lifestyles change.