Emerging technologies that entrepreneurs can leverage for their marketing strategy

Emerging technologies that entrepreneurs can leverage for their marketing strategy

By: Kate Simmons

There’s no doubt that technology has significantly changed how businesses market their products and services to consumers. Before, they were mostly limited to print and TV advertisements, but now firms have a myriad of tools at their disposal that will allow them to reach more markets. For instance, mobile technology and social media paved the way for a more personalised marketing strategy, enabling brands to better connect with their consumers.

But because technologies are ever-changing, organisations who want to keep up with marketing trends must always be on the lookout for new technologies that will change the practice of marketing.

In this article, we will discuss three emerging technologies that entrepreneurs like you can maximise to enhance your business’ marketing strategies.

Chatbots

Today, chatbots have become an essential part of most marketing strategies since better customer connection is a big driver for business success. You can use them to automate conversations with customers, suggest items for purchase, provide information about their queries, and even send leads to sales and marketing teams with little to no human intervention. What’s most exciting about this tech, though, is that recent upgrades have seen it become smarter and more efficient. Some chatbots can even track consumer moods and language patterns.

Because of these technologies, experts believe installing chatbot software on your business website can help you achieve higher customer satisfaction rates and encourage repeat buyers. This makes them a valuable tool for your businesses to improve marketing strategies and customer relationships. Fortunately, you don’t need to be an expert in coding to use a website chatbot. There are various live chat widgets available that can easily let you add a chatbot feature to your websites, like Sendinblue and Chatra. They’re customisable and user-friendly, so you can get them up and running in no time.

The Metaverse

Another exciting technology that will change marketing practices is the metaverse. They’re a futuristic blend of virtual reality (VR), augmented reality (AR) and artificial intelligence (AI), allowing marketers to create a new 3D immersive experience for customers. To illustrate, how augmented reality is changing our world, AR technologies are highly used in gaming and daily life, such as buying furniture.

In fact, Swedish retail giant IKEA has an application called IKEAPlace that uses Apple’s ARKit technology, which allows buyers to scan their homes and see how a piece of furniture of a specific colour and size would look in their homes. Since the featured items are available from the store, this strategy encourages customers to proceed with their purchase. Similar to IKEA, you can boost your marketing outcomes with AR by letting customers check out and try your items for themselves. Doing so enables you to showcase your products, even if customers are just at home.

Data Analytics

In our article on improving productivity with technology, we shared how technology, particularly data visualisation tools, can help you see data in new ways and make better decisions for your business. However, you can take one step further and use this information to your advantage with predictive analytics. In the context of marketing, predictive analytics is applied in various ways. For example, marketers can use existing customer data to acquire new customers using the identification modelling method. This will allow them to identify and target prospective customers that resemble their current customers.

One of the easiest ways you can do this is using Facebook’s lookalike audience feature. It’s a built-in segmentation tool on Facebook that lets you find users whose demographics and interests are similar to those of your existing followers. This shows that you can use predictive analytics with your existing social media marketing strategies to improve your marketing campaigns.

The introduction of chatbots, the metaverse, and advanced data analytics indicates that technologies will always change how marketing in businesses works. So, it’s a matter of how you maximise these technologies that will determine if they will be beneficial or disadvantageous to your business.

About The EnterpriseZone Writing Team

Shining A Light on the Small Business World and highlighting Entrepreneurial Investing Opportunities.

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