Our society, today, is driven by digital technology. Digital has affected all aspects of our personal lives. The common example is how the whole population is glued to the smartphones, apparently unable to do the day-to-day activities without it. And this personal trend has largely changed the way businesses work.
Technology has changed business in many ways, but its affect on communication is arguably the most significant. Indeed, communication through email, text messaging, instant messaging and even budding tools like social networking have been among the most profound effects of technology on every area of business. However, while technology did make business communications faster and easier, it has also made, at times, communication more distracting and less clear.
Digital has perhaps changed business forever. Companies are quickly embracing digital technologies to make sure they lose no business to the competition. Digital mediums have an immense influence on people’s work, buying behavior, life habits, and interactions with brands.
In this digitally absorbed world, it has become imperative for companies to upskill and move from traditional mediums to digital media, and take full advantage to stay ahead. From being available to the customers whenever they need help, to breaking down barriers of communication, digital technology in different ways has helped improve efficiency, productivity, opportunities, and revenue, all together. Here are some ways digital technologies changed the game:
Interacting with potential customers today can be like spinning a roulette wheel. The roulette ball represents the company’s marketing message, which will spin and bounce as the wheel turns before finally landing on a space (i.e. a customer). Social media acts as the wheel itself, and it allows companies to interact with people in a public venue, providing a channel to promote products, services and transparent messages.
But there’s a new player in the game, and businesses need to figure out how to jump on the proverbial boat before it leaves the harbor. According to the Economist,a quarter of all downloaded apps are abandoned after a single use with only instant messaging bucking the trend.
Droves of Data
Modern technology allows marketers to gain a tremendous amount of knowledge about their customers. However, companies need to know how, where and when to use that data. Some of the best ways to achieve this are:
- Knowing which metrics are most important to company success – the key to getting impact from data is knowing what your organization wants to get from it. The key is to be very specific about what the business outcomes are and build that into how the data is measured and how it impacts on the wider business.
- Knowing which customer channels are going to pay off – the array of technologies and channels is such that a brand needs to focus on the ones that their customer engage with in a meaningful way. Likes and comments may seem important but what really matters is engagement that builds a relationship between a customer and a brand.
- Having employees with the analytic skills to process data – all the data in the world is useless without the skills in-house to know what to do with it. Insights from data are what can drive a business and help them understand the behavior and pain points of a consumer.
- Creating content that is personalized and customer focused – The colossal amount of data in cyberspace makes it hard for any brand to make a real impact. The key is knowing who the target audience is and creating content that grabs their attention and encourages them to engage.
Made Brands More Human
Due to its popularity and influence, social media marketing should be front and center on any company’s marketing strategy as customers need to trust and understand the company they are buying from.
One of best examples of a company that has got this concept down to an art is Apple. Strategic marketing ensures that brand awareness rules supreme among their users, and it’s so effective that Apple has millions of people supporting their products before they are even released!
They achieve this by using live streamed events resulting in hordes of devoted customers that feel like they are part of the brand’s journey and as such when Apple launches a new product they have a committed and attentive audience.
In conclusion, the bottom line is that if a brand wants to be successful now and in the foreseeable future, they need to invest in a kind of “cultural radar” by keeping abreast of evolving technology and platforms along with investing in digital talent that can understand the customer journey and interpret relevant data to form informative insights. Those brands that can adopt and adapt will surge ahead of their competitors.