In the early days of marketing, things were very different to how they are now. But as time has gone on, marketing has developed to become what it is today, and many of the changes that have come about are due, at least in part, to advances in technology. So, how has technology changed marketing?
Well, until recently the majority of marketing was ‘outbound marketing’, in that there was no interaction or discourse between marketers and consumers. However, the rise of social media has changed this in two ways. First of all, it gives marketers a better idea of what their target audience is like. It is possible to hone in on potential consumers based on who is tweeting about which brands – and people sure are tweeting about brands, with 80% of Twitter users having mentioned a brand in their tweets. This helps marketers to know who their audience is and what they like, informing their marketing strategies and allowing for more effective marketing.
Secondly, social media allows for interaction between brands and consumers, which makes brands feel far less impersonal and faceless. Instagram allows people to comment on brands’ pictures, Twitter allows conversations between people and brands, Facebook allows people to stay informed about the brand’s activity. This all makes consumers feel far more connected to the brand and therefore increases brand loyalty. This kind of communication is critical for a brand’s image; 77% of Twitter users feel more positively about a brand when their tweets are replied to.
Technology more generally has caused marketing to move into the sphere of digital marketing, which has impacted it in several ways. As information is more accessible on a larger scale, the need for speed has increased; if you do not provide the information quickly, potential customers will look for it elsewhere. Additionally, this large-scale accessibility has resulted in brand’s having a global reach. Brands can now grow from being small, local businesses into international companies. Take, for example, Apple – it began as a small, computer-making operation in Steve Wozniak’s adopted parents’ garage and then grew to become the technology giant with a brand value of $148 billion that it is today!
Technology continues to develop, and as it does, it is important that marketing develops alongside. With all the progress that is still to be made, make sure you aren’t being left behind!