How Information Technology Will Change Marketing in the Future (Essay Sample)

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How Information Technology Will Change Marketing in the Future
The world is experiencing unprecedented transformation arising from emerging technologies that are disrupting industries and business outstandingly. The revolution is referred to as Industry 4.0 and is attributed to tremendous innovations that have metamorphosized nearly all aspects of human experience. Industry 1.0 occurred three centuries ago, ushering in mechanization; Industry 2.0 introduced electricity and industry line production, while Industry 3.0 brought computers and automation. The Fourth Industrial Revolution is related to the invention of big data, robotics, the Internet of Things, and artificial intelligence, responsible for more radical and logical advances that affect workplace experiences and professional practices. The marketing field is also part of this overhaul, with technology offering more opportunities and challenges for brands to create and maintain productive conversations with consumers. Given the widespread adoption of information technologies, such as smartphones, tablets, the Internet, and social media, it is not surprising that firms are spending more resources on digital marketing. The challenge, however, is the speed at which innovations are emerging, requiring marketers to anticipate the technology knowledge curve in real-time.
Anticipating the future of information technology promotes early adoption, which is a game-changer for marketers. For instance, Amazon is the world leader in embracing technological innovations. Indeed, the company has integrated robotic technologies in its fulfillment centers to reduce workload, improve efficiency, and minimize costs (Rey par. 21). Besides, it has one of the most innovative ordering systems, a well-established predictive analytical model, and AI utilization mechanisms. Lyft and Uber are other examples of organizations that have revolutionized the taxi business by granting consumers more control of their rides. These ground-breaking solutions show how prediction and early adoption of new technologies can affect a firm’s marketing strategy and subsequent reception by consumers. And understanding how information technology will change marketing in the future is the cornerstone for marketers to develop, capture, communicate, and provide value to their clients. In this regard, firms should recognize the rise of digital consumers, learn the art of digital customer orientation, and use digital information and knowledge to expand customer experiences.
The widespread consumption of digital technologies by consumers is forcing marketers to move from traditional media, such as televisions and radio, to connecting with customers via the Internet and social media. The changing landscape is partially facilitated by the young population of millennials, which have embraced the new communication technologies overwhelmingly. A young person will most likely prefer to receive a mobile-based advertisement, such as on YouTube, Facebook, or a blog, instead of newspapers, magazines, or billboards. Hence, most marketing professionals face a crisis, trying to make sense of the rambling matrix of seemingly disconnected innovations. According to Jain and Yadav (2017), around 71% 71% of Chief Marketing Officers (CMOs) feel unprepared for the data explosion they face” (50). Unlike when using the traditional marketing channels, collecting metrics nowadays and in the future means consolidating personalized customer data from a wide range of media. Only by integrating the data sources can they have a comprehensive view of customers’ interests, thus create targeted engagements.
The tools of digital marketing are electronic devices, such as tablets, cellphones, smartphones, computers, game consoles, and smart television sets. Logic dictates that engagements usually occur through internet-based channels, including banner ads, e-mails, social networks, and websites. The greatest challenge for organizations is integrating the technical side of data analytics and the creative aspect of developing narratives (marketing campaigns) that relate to users’ aspirations and wishes. The difference between winners and losers is the ability to perform in the three areas: campaign relevance, speed, and reach (Dwivedi et al., 1-32). Rele-vance relates to creating content that meets the audience’s specific needs while ensuring the message is accessed by the targeted group. Hence, futuristic marketers must improve their knowledge of real-time technology by working close with technologists and IT professionals. The scope of learning includes understanding the logic behind website development, data handling, and running successful social media campaigns.
While the digital revolution has tremendously affected how organizations interact with their customers, the basic marketing principles remain unperturbed. A lesson from the appetizing baking world is that recipes may change, but the end product remains the same – food. Marketers hold the same logic – online consumerism and super-connectivity only increase opportunities and challenges but do not change the Marketing Mix philosophy – product, placement, promotion, and price. For instance, people no longer need to visit the local store to rejuvenate their accessories or seek a critical service. They can now access vast information about products or services from across the world irrespective of their location. The outcomes include reduced duration between learning about the existence of a new product and purchasing it. Plus, consumers can choose from a wide variety of sellers and brands. The challenge for businesses is to generate an online presence and provide invaluable information consistently to prove their worthiness.
Consumers are going beyond information search and consumption to creating and sharing verifiable content about the quality, price, and buyer satisfaction with other users. Social media platforms, such as Instagram, Tumblr, and Facebook, and blog websites are spaces where buyers share their views and experiences, both positive and negative, about products and services (Jain and Yadav 51). Indeed, a product review or feedback can reach millions of consumers worldwide within hours. Reactions from the audiences can be even more impactful, a phenomenon that is gradually eliminating the traditional notion of brand supremacy and loyalty. The shift has led to the commodification of brands, making it difficult for marketers to maintain brand integrity. The solution lies in firms first listening to customers and observing the trend in the industry before developing new products or services. Achieving this goal will demand extensive utilization of smart technologies in collaboration with relevant digital marketing tactics.
The use of artificially intelligent devices, big data, and machine learning can help marketers know the type of experiences consumers are looking for beforehand. These technologies can help market research by collecting, analyzing, and interpreting complex personal, demographic, and behavioral consumer data. While concern is growing over data privacy, organizations should focus on finding a balance such that they do not breach the law. However, most consumers are unaware of what constitutes personal data, while the “woke” group is willing to share in exchange for low-cost tokens (Grewal et al. 4)). The future of technology and marketing: a multidisciplinary perspective. Some companies, such as Netflix, Facebook, and Google, have invented tricks to circumvent the personalization–privacy paradox using modern digital technologies. Luckily, such technologies are also accessible to small firms. For instance, website owners can create interactive blog posts to facilitate real-time communication and feedback from their customers. They can then use the information provided to respond to a market niche, a complaint, or a suggestion.
Perhaps the most compelling transformation arising from the utilization of digital marketing technologies is the shift towards inbound marketing. Businesses are moving away from pushing their messages towards the audience and recognized the benefits of drawing consumers towards their commodities. Outbound marketing incorporates reaching out to many people through traditional communication channels, such as radio and print, to generate interest for a product. Conversely, inbound marketing involves creating quality content, such as infographics, white paper, and product reviews, suitable only to prospective buyers (Dakouan et al. 2). It means that potential buyers are already searching or thinking about the product, and the marketer only needs to ensure they land on the right source. The idea of product promotion through Search Engine Optimization (SEO) is developed to satisfy this concept. Marketers use a set of Google’s predictive analytics tools to assess the type of content internet users is looking for, which helps develop appropriate advertisement campaigns. A similar analogy is applied to gather, sort, and analyze user data from other customer engagement points, allowing for faster, efficient, and more cost-effective returns.
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