In the modern world of business, marketing is gigantic, and the difference between getting it right or wrong could be whether your business takes off or stagnates. As technology has improved, more and more ways to reach consumers through their devices have appeared, with marketers soon learning how to maximize these platforms to the fullest extent.
While it’s great for marketers at companies worldwide that they can reach consumers in so many different ways, they are not the only business with this ability – meaning that competition is fierce, and consumers have become more resistant to advertising as they are bombarded with adverts all day, every day.
Read on to find out more about how Marketing Technology is changing to adapt for this.
Today’s marketing industry is heavily data driven, meaning that it’s perfectly suited to the properties of AI. AI can process the immense amounts of data collected on consumers and their behaviour into a form that people can understand, as well as create algorithms that collect this data more effectively.
Being able to access intelligent interpretations of consumer data, as well as hone in on collecting the correct types of data, allows companies to progressively target their ideal audiences more effectively.
Another aspect of AI in marketing is machine learning, which involves algorithms that can improve themselves over time based on their experience and number of interactions with consumer data.
This, alongside chatbots like OpenAI ChatGPT and customer service AI, helps to reduce the human resources required in an ever more complex and technologically driven industry.
2. Eyes on the algorithm
In terms of search engine optimization, the algorithm is ever-changing. Google, or other search providers, are always trying to ensure the best results for every single search, whether it’s for Lenovo laptops, dog memes or the latest news – and fine tune the algorithm regularly as a result.
While Google has recently released the Page Experience Algorithm, regular Keyword SEO and a focus on quality, long-form content are expected to gain great results for marketers this year.
3. End of cookies
Whether you’re an appreciator of highly targeted, personalized marketing on your social media feeds, or a subscriber to the conspiracy theory that devices are listening to you talk, the privacy aspect of advertising cookies is a rather disconcerting thing.
In recent years, the conversation has exploded regarding online privacy, focusing on the fact that user data is sold to third parties without the full consent nor informed understanding of the user in question – with companies making profit as a result without payment to the user.
The increased frequency and subsequent awareness of cyberattacks on peoples’ personal data has made consumers more vigilant. As a result, all browser developers have or will stop using cookies in the near future.
It’s no longer simply about getting the product or service in front of potential consumers, as would be the case in a physical environment – people who are out shopping of their own accord are naturally more open to product propositions, and are in the mindset that they will be spending money.
Instead, much of marketers’ effort now goes into analysis of consumer behaviour, trying to find the sweet spot where an online consumer is momentarily open to being shown new products – using immense amounts of data to pinpoint exactly the right techniques. This data driven approach lends itself to technology.