Technology: A revolution in marketing

Companies nowadays need technology to function

Marketing is one of the most essential aspects of business and it has seen evolving with each passing day. A product or a service cannot bring in profits to a company if no consumer base is formed. Gone are those days when just letting consumers know about the products would influence their buying decisions. A company needs to be engaged with its consumers so that the brand is etched into their minds. Technology is playing the game not only in marketing but also in other spheres of business, making it an irreplaceable aspect of a business. Marketing helps companies communicate the benefits and unique features of the products to their consumers so that they can easily make decisions about buying the products. For ages, marketing has been helping companies to engage their customers but with time marketing techniques have changed with the evolution of the P’s of marketing.

The intervention of technology in marketing

People nowadays are glued to their mobile screens and thus to engage them and make them aware of the products, technology needs to be inculcated in the marketing techniques. Earlier, simple media like radio and television had been used for marketing, which has transformed with the era of digitalisation seeping in. Digitalisation and urbanization increased the number of choices among consumers making it difficult for them to stay loyal to a particular brand or product. For example, Lakme has always been the chosen brand for makeup enthusiasts in India, but with the intervention of technology, a lot of other options have become available to them. Thus, in order to maintain their consumer base, companies need to maintain a bond with their target consumers, which is only possible by using technologically-equipped marketing tools and techniques.

Technology helps in connecting with consumers

Social media channels, help in establishing a connection between the target consumers and the brands, which further helps companies to personalize their style of marketing. For this, it is important to understand the needs and likes of the consumers, which can be easily accessed through social media. Current purchase trends, preferences of target consumers, and buying behaviour can be tracked through social media, which helps companies in designing effective strategies for marketing. The success of marketing lies in the intensity to which consumers are convinced to consume the product or service, which is easily achieved with the implementation of technology.

A concrete relationship with consumers is key to successful marketing. With the evolution of marketing techniques, marketers are focused on not only engaging the consumers but providing them with a unique experience. Thus, marketers have come up with “customer-centric” marketing approaches through CRM (Customer Relationship Management) software. A CRM system provides all information of the customers in a single platform. Current trends of consumers are helpful for marketers to develop customer loyalty, which helps in maximizing profits. Digital marketing has become one of the most effective forms of marketing currently.

Technology: Simplifying Big Data

Customers are complex and so are their data. Technological intervention in marketing helps in understanding the complexity and provides quick solutions. Technology makes analyzing, extracting, and processing data easier. Individual attention is what is needed to attract consumers and influence their buying decisions. Technology helps in gathering data of consumers and synchronizing it with the features of the products to deliver valuable and relevant messages. Digital marketing, especially in the form of social media marketing, has evolved as the most effective marketing technique, which apart from developing awareness among consumers also influences them.