Technologies That Are Fueling The Rise Of New Marketing Strategies

Team Startup CityBranding, marketing, and advertisements are all tools to promote one's business, although in essence branding and advertisement are subsets of marketing strategies. They not only help acquire and retain customers but also help drive sales and profits. In basic terms, marketing is the process of promoting a product or service, while communicating its views to the customers. Traditional marketing was carried out by TV advertisements, hoardings, media announcements, and print campaigns. While digital marketing is considered new age marketing associated with digital devices and the internet. The primary sources of digital marketing are social media marketing, content marketing, e-mail marketing, and influencer marketing and so on. The marketing strategies such as promotional activities and branding are used for generating sales. It is the sale that determines the failure or the success of the marketing strategies.

Branding, marketing, advertising, and sales - these are all closely connected to one another making it very easy for people to get confused with these terms. Therefore, it is very important for business leaders and young entrepreneurs to understand the differences between these strategies, as it can help maximize the use of each marketing tool. Branding involves the product or company name, logo, tagline, and color scheme. This element helps in creating a visual appeal in the minds of the customers.

Similarly, advertising is another subset of marketing which is focused mainly on acquiring customers and driving sales. It includes paid campaigns that are carefully written down to appeal to a specific group of audiences through a medium such as, online newspapers, magazines, posters, television, and radios. These elements if brought together can enhance brand awareness, while branding drives the style and direction of the advertising campaign.

In recent times, digital marketing has completely revolutionized the way products and services are marketed
to reach to its customers. Native marketing requires a lot of time and man-power to achieve the needs whereas digital marketing needs a few skilled workers to reach its customers. With startups entering the preciously monopolized market and gaining major market share, it is critical to ensure the adoption of upcoming digital and technological innovations in the business world. Some of the digital marketing trends that are going to dominate the next decade are listed below:

• Voice Search :
It has been estimated by Klick that by the year 2030 about 30 percent of the web browsing will be done without even touching the screen. Undoubtedly, voice search will play a major role in the day-to-day lives of the people. Companies have realized this trend and have started to invest in voice search engines. For instance AI apps like Google Assistance, Siri and Bixby have already come up.

• AI-Powered Technologies:
AI-powered solutions are going to bring together a unique blend of the latest technologies like Predictive Analysis, Machine Learning, and Natural Language Processing. In the coming years, AI-powered technologies will be used across various enterprises including government and all kinds of private market players. AI is bound to change marketing immensely over the years and people are already actively engaging themselves with such AI-driven technologies without them knowing about it. AI will enable the creation of products and services that will continuously learn from user feedback. For instance, Netflix and Spotify have already incorporated such user feedback mechanisms driven by AI.

• Video Marketing:
According to Tubular Insights, by the year 2020, about 80 percent of the online content will take up the form of visual representation. Video ads will be the go-to strategy for all marketing ventures as it has the ability to convey the desired message to the customers in a presentable and entertaining manner. Short videos have the ability to communicate short messages in an enjoyable way.

• Chatbots and Automated Marketing:
IBM has predicted that chatbots are expected to power 85 percent of all customer service interaction. In addition to these interfaces, we predict huge advancements in personalized experiences with the rise of conventional websites. This will be a game-changer from a user experience perspective and further streamline the path to purchase.

Hence, it is of utmost importance for businesses to get acquainted with this shift from the traditional form of marketing to digital marketing tools powered by AI and Machine learning; if they wish to keep up with the changing times and at the same time expand their respective services or products. Marketing in the upcoming decade is going to be both challenging and exciting.

• 60% of people have started using voice search within the last year.

• Content marketing costs 62% less than traditional marketing and generates about 3 times as many leads. (Demand Metric)

• Social media has become the most popular content marketing tactic reported by 90% of B2C businesses