Technological effects on Marketing Nue Age

Introduction When you think of marketing what is the first thought that comes to mind? Is it the advertising you see or here, a company’s brand or logo, or is it the creativity of a company? During this presentation we will be discussing the effects that technology has on marketing. Technology is constantly evolving and with all the different types of technology out there, marketing is trying to use these as tools to reach out to customers. Technologies like cell phones, computers, radio, and all the advancements with those are making the reach out almost instantaneous.

Background . “85% of U.S consumers said they used social media.” -Dr. Liva LaMontagne, Editorial Research Manager of Marketing Sherpa . “Visual content is 40 times more likely to get shared online than other types.” -Dr. Liva LaMontagne Editorial Research Manager of Marketing Sherpa . “78% of people who complain to a brand via Twitter expect a response within an hour.” . “I think technology is opening up options and making the world a smaller, more accessible place.” -Doug Schorr, Schorr Creative Solutions inc.

Technology’s impacts on marketing has grown so much from word of mouth to now click and share or touch and share. Technology’s evolution is bringing different ways to market your brand or logo. First it started with radio, then tv, computers, and now mobile devices. The greatest technological influence on marketing today is social media. “Teens now spend up to 9 hours a day on social platforms” - Evan Asano from Social Media Today.

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Marketing is what you make of it Marketing is what you make of it. You can be really good and know how to market your product or you can be really bad and have no idea on how to market your product. Marketing’s biggest influence is how much you want to put into it. With technology in today’s world it so easy to market something whether it be a movement, product, brand, etc. It can be seen all around the world just by a few clicks of a button. Now whether your marketing strategy is good or not; will determine if what you marketed is being viewed positively or negatively. Content is the key in marketing because it’s what the world is going to see and view your final product and once they see it, it can never be unseen.

Positive impacts of technology

The Many technological tools of Marketing (Inc.com) Monitoring and analytics tools Marketing automation tools Customer relationship management (CRM) tools Tag management tools Data management platforms (DMP) Content delivery networks (CDN) Conversion optimization tools Campaign management tools Email marketing platforms Mobile optimization tools Advertising networks Remarketing solutions Search engine marketing tools

The Internet of Things The Internet of Things, or IoT for short, is the future of interacting with technology. It is the networking of all physical devices to include home appliances and even vehicles. This is huge for companies wanting more customer data. They can use the internet of things to get more insight into their customers trends and understand how they are interacting with the technology. With things being connected to the internet this also gives them more opportunities to advertise other products. The use of big data is what drives the link between IoT and marketing.

The Use of Big Data Big Data is simply a large volume of data. But as technology advances we can analyze this data for valuable uses. 54% of Chief Marketing Officers say that the use of big data and analytics will be essential to their strategy over the long term.(Big Data and the CMO: What’s Changing for Marketing Leadership?) Customer analytics is the main big data use case within companies sitting at 48%. Companies are using data they collect from customers to get better insights into their purchasing habits, responsiveness and satisfaction. They can use this data for differentiating pricing strategies for different customers. This allows them to sell their products accordingly depending on the customer.

What makes IoT and Big Data so important? Large corporations are already using IoT technology and big data to analyze their customers, technologies and their own businesses in order to going competitive advantage. If I were to do an analysis of a company using Porter’s Five Forces the use of big data for marketing strategies would give that company a positive outlook. If a business wants to succeed in today’s market they must adapt to new technologies and stay on top of today’s trends. Marketing and technology are fastly blending into one and here soon you won’t have one without the other.

Some of the positive aspects of marketing with technology deals with the following: You can market wherever you want in the world. Everyone can see what you are marketing. Social media is offering the cheapest forms of advertising. Customers and viewers can respond a lot quicker thanks to social media. As technology grows there will be more ways for marketing to grow.

Negative impacts of technology

With technology constantly growing and affecting marketing, there are also a lot of negative aspects as well. Customers can respond almost immediately to a company via social media. People can spread negative views quicker than ever. If a company messes up, everyone sees it. If you don’t adapt with the technology then you will be left in the dust. There is constant stress on the editors of the marketing project to make sure there is absolutely no errors in the final project.

Marketing will always have to adapt to technology so that way marketers can stay ahead of the game. However, they need not to forget about the past because the past is the reason why they are where they are today. This meaning that if people are tired of always seeing something new and they want to see things that remind them of special moments in the past or the good old days. Then marketers can look back into how things were marketed before and appeal to their market.

Marketing research also is a lot easier If your marketing does such a good job your company can become a phrase

https://nueage.wordpress.com/ For further discussion on marketing and technology go to the above link and check out the podcast done by Zach Chreste, Zach Bennet, Brandon Webber, and Travis Littrell. We discussed who we researched in our English 306 class for our project 3. Also about if technology will continue to affect marketing and what are some of the positive and negative influences on technology in marketing.

References Forbes.com Inc.com