How Technology Will Change Marketing In The Next 5 Years
Marketing teams from companies like Disney, Facebook and Netflix are leveraging big data, smart devices, artificial intelligence, machine learning and virtual, augmented, and mixed reality to understand their customers and behaviours at an unprecedented level. Brands are starting to use data based on where we go to restaurants and stores during school holidays, where we shop and play, watch content, and offer better incentives and relevant messages based on the customer's location. This ability will benefit small businesses by using technology to identify, track and tailor messaging to small segments of customers at the level of certain individuals.
Recent advances in augmented reality (AR) in the world of digital marketing have opened the doors to custom and unique shopping experiences for consumers. Unlike AR, virtual reality (VR) is gaining ground, and augmented reality (XR) will play a bigger role in marketing than mixed reality in 2021, as brands seek to tap into new areas of customer loyalty. Brands will be able to adapt to consumer behaviour as VR-led technologies grow and use data from AR and VR devices and wearables.
By 2025, the virtual reality market will continue to boom, from $7.9 billion in 2018 to $53.6 billion in 2025, with virtual reality becoming a standard component of marketing campaigns. Data today affects every aspect of digital marketing and e-commerce, from the ability of machine learning solutions to work faster and more efficiently to our ability to learn about our customers and deliver personalized experiences. The world of big data will continue to grow in 2021, which is good news for marketers, but you need to know how to harness the power of big data.
In this respect, big data is a double sword that will find many digital marketers hard to resist in the near future. Several emerging technology trends will transform the way marketing is conducted, and while this may not be exciting for marketers, their target audience deserves to be introduced to entirely new experiences. From artificial intelligence (AI), IoT, mixed reality and MR to robotics and process automation to robotics and process automation, it is clear that marketers must utilize technology to make informed and responsive decisions, streamline budgets and change consumer behaviour.
Data science, fintech, artificial intelligence, machine learning and virtual reality are rarely new concepts, but they always seem to bring new twists, especially in the field of corporate marketing. Most brands have prioritized data analysis, but marketers still have a long way to go. With tools like Bayesian Conclusion, marketers can monitor billions of page views and apply data at enormous and high speeds, including tweets, blogs, customer card transactions, eye tracking, price sensitivity estimates and people's product preferences, to the next step in customer journey.
Marketers can tap into customers "external brains and see the space of easily accessible information, enabling more direct and personalized approaches that become catalysts for brands reaching consumers" consciousness. Personalization strategies will benefit from such technologies, such as new marketing campaigns that integrate information from household appliances, robotic assistants, biometric sensors and real-time usage data from the digital ecosystem. Brands will use a complex combination of personal data, location data and environmental data to address their customers at the right time and on the right device with the right messages.
While many brands in the form of likes, browsing cookies and collect online data use the information they collect from their customers without knowing what is going on, consumers are beginning to seek greater control over what they share with data processors.
From a marketing perspective, companies need to strike an appropriate balance between addressing consumer privacy concerns and using consumer data to deliver personalised products and services. To understand how best to apply new technologies to brands and products, marketers need the support of their technology, information, and legal departments.
Artificial Intelligence (AI) and Machine Learning (ML) have proven successful in overcoming data congestion, which is a challenge for many marketers. When it comes to digital marketing trends, we see much more forward-looking analysis, whether used for advanced lead scoring, segmentation, or personalization, to help marketers reduce brain drain and improve customer loyalty. With such successful campaigns and the potential of augmented reality (AR), there is no doubt that AR will be accessible to marketers and brands, and they will be the first to use it for their own purposes through interactive advertising and new experiences for personal customers.
Virtual reality will immerse users in a virtual world, augmented reality will place digital objects in the real world, and mixed reality is an innovation with broad marketing applications that will open new ways for companies to interact with customers and prospects. Nevertheless, we expect even more innovative blockchain use cases by 2025. In short, bespoke mantras will emerge as a future marketing trend.
If you are planning to set up your future marketing but not sure what trends will benefit your brand, a gamification campaign could be a stepping stone you need to take the next step in your marketing success.