The nationwide lockdown has triggered various industries, including the marketing industry. Billions of marketers claim that the demand for their brands’ products and services have been plummeting along with the worsening of Covid-19 pandemic.
In response to that, most of the marketing campaigns were put on ice by the marketers. Digital transformation in marketing has then become a new norm of business transformation as marketers are changing their marketing strategy, and some are creating new business lines due to the outbreak.
In this digital era, customers and investors behaviour are varying from time to time, on the way how they invest, shop, buy, discover new products and more. Therefore, marketers will need to understand what’s the latest customers’ needs and demands. However, companies will require a certain number of labour force to collect and analyse their customer’s information, in order to develop a good marketing strategy. In fact, the traditional way of marketing is somehow a waste of energy and time.
Therefore, big companies are now shifting towards digital marketing as they know that is a better option compared to traditional marketing. The following are some of the top technology trends to uphold business marketing strategies.
The Omnichannel
Omnichannel is a channel which combines all media to create a shared experience for the customers, including both traditional and digital channels, in-store and online experiences. Omnichannel marketing is used to send marketing messages like sales promotion to the customers. Omnichannel platforms are expected to reach US$ 11 billion by 2023. Hence, omnichannel is an essential platform for the clients to coordinate their marketing activities in a more organised approach.
- An excellent example of this would be Alibaba’s Hema strategy. It has successfully provided fresh global products to the customers. Customers can use the Hema app to shop for groceries while enjoying their meal at Hema’s food courts. According to Hema sales transactions, 60% of them are online transactions. It can achieve about US$ 115,000 of daily sales at a mature location.
Data unification
It is a need to have data unification as it can be used to string all kinds of data, which then help the clients to frame better analytics on that. There are solutions in the market, such as Customer Data Platforms (CDPs) and Data Management Platforms (DMPs), which are being utilised for data management.
- Walmart’s transformation is one of the best examples on this, which includes programs like online-ordering fulfilment at stores. In 2016, Walmart bought Jet.com for US$ 3.3 billion, that helped Walmart to enhance its online retail presence with a broad range of goods and services.
New mobile device experience with AI, machine learning & big data technology
Due to the fact that mobile devices nowadays are connected with the internet, many industries have now started using Artificial Intelligence (AI) and machine learning, to improve the automation and app interface experience. AI can be used to generate new conversations by identifying previous chat behaviours and patterns from the loved ones.
- For example, the Replika AI chatbot app might potentially become one of your best friends by having conversations with you via messages.
- McDonald’s has designed its mobile strategy for personalised experiences. McDonald’s has integrated its transformation with the AI and machine learning technologies, creating a brand-new personalised dining experience for customers.
- In 2016, Starbucks employed AI and big data in their marketing strategy to enhance personalisation with different customers. As a result, customers can customise drinks based on their taste. By utilising AI and big data, Starbucks can quickly analyse and process various information from the customers through its loyalty card and mobile app. This technology allows Starbucks to deliver personalised marketing messages and recommendations to different customers. Also, customers are now able to place their orders directly via voice command by using the virtual barista service app powered by AI. The AI and big data technology have assisted the business in decisions making, especially when exploring the new location for new stores with attractive promotions.
Voice Search Optimization (VSO)
The VSO might have the chance to overtake Search Engine Optimisation (SEO) in the future as the usage of VSO is rising. The main reason is because of SEO cares about the keywords, while VSO only recognises how those words are spoken. However, only 4% of marketing businesses are ready for that application.
- Currently, several giant companies such as Amazon and Google have developed voice search technology and linked it to e-commerce. For instance, Google voice search was being used by Burger King to advertise its TV advertisement on Whopper because voice search has been changing interaction between users and brands.
AR and VR technology
Both Augmented Reality (AR) and Virtual Reality (VR) technology are now an emerging trend within marketing and sales strategies, which allow brands to deliver exclusive experiences to their customers. Brands are merging the virtual technology in their marketing strategies to introduce customers a better product service and expertise. These technologies allow clients to deliver their thoughts through product experiences to customers more conveniently. It is predicted that virtual technology will reach US$ 571.42 billion by 2025.
- In 2019, during the Chinese New Year period, Maxis had discovered the holographic technology on pop-ups on print, by combining both VR and AR technology. The deployment of this technology had successfully attracted many viewers to share their advertisement among friends and relatives.
- Another good example is the 20th Century Fox had applied VR technology in “X-Men” themed VR stunt event in a pop-culture convention. Oculus Rift has been cooperating with the Fox by providing them VR headset, which also promotes the fictional Cerebro technology for mutants tracking activities. Besides that, HBO has deployed virtual technology to advertise “Game of Thrones” by using the virtual rendition of fantasy series icy 700 ft tall wall during the latest exhibition.
- Ikea has recently set up their virtual reality store with a VR-based app, that allows shoppers to design their home by choosing the best furniture to fit in. Virtual reality is set up to provide customers with an idea of how would their new house looks like.
In conclusion, there are lots of brands that have successfully promoted their products by utilising various marketing technology. In return, they are gaining the rewards in terms of profits, good reputation and visibility around the world. Since technology evolves in numerous industries nowadays, the company should always grab the new opportunities available on the market to avoid staying behind others. People love eye-openers; therefore, marketers should employ digital technology to deliver better insight into their businesses.
Written by Yu Ting Tan, Consultant at 27 Advisory, obtained her bachelor’s degree in the field of Chemical Engineering (Honours) at Monash University. She is interested in nanotechnology as well as the consulting field and wishes to gain more experience in these areas to help people afford a better quality of life.
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