Convergence of marketing and technology – powering engagement
Marketing has changed dramatically in the last few years. New technologies from social media and mobility to rich digital media devices and natural user interfaces are transforming how and where consumers and business users interact with content – and therefore how and where marketers connect with customers.
Forces that are driving this convergence are:-
1. Explosive Mobility growth with over 70% of teledensity from 5% in a span of a decade
2. Faster adoption of newer technologies like touch devices feature rich interfaces
3. Innovative Usage of technology for marketing like maps used for geo-targeting etc
4. Technology led advantages like measurable and profitable
- Accessibility to cutting edge technology to everyone led by the Open Source revolution.
In today’s day and age consumers are inundated with communications and are over-exposed to invasive and interruption led advertising. This directly leads them to ignore….hence the singular challenge every brand has is Engagement.
Technology plays a pivotal role here in enabling a meaningful engagement. And marketers need to leverage it appropriately.
Given below are the 4 key engagement pillars where technology ensures an order of magnitude lift to marketing:-
(A) Personalization:-High degree of personalization ensures that each consumer is fully engaged. Current technologies are capable of delivering true segment of one personalization. To make good on that promise however companies need a unified data backbone one capable of delivering the highly relevant data that generates valuable customer insights. High performance and multi-dimensional Databases and surround technologies make this possible
(B) Context:- Attention span is undivided when consumers are spoken to in context. Context driven marketing popularized by Google requires real-time technologies and event or transaction triggers. This is based on response to a measurable change in customer behavior or a specific customer action or an event that influences customer response. Real time response enabled technologies power context driven marketing
(C) User Ex:- Customer centricty and User centered experience is key to any customer engagement today. Technology enables marketers to evolve immersive experience using machine and learning enabled algorithms. Nuances and hair splicing insights from tons of customer usage data helps marketers build for an engaging experience
(D) Co-ownership:- Consumers now want to be more involved in defining brands designing products and services that they are going to consume rather than just consume what is being sold to them. The exploding social media space has ensured that marketers can no longer dominate the dialogue. Using the right mix of technologies a meaningful Social Media strategy can be built effortlessly
To survive in this current paradigm enterprises must make a strong commitment to digital marketing through renewed investment in technology and innovation deep partnerships and an integrated approach to customer-centric data. Marketing must take ownership of the technology in its domain. Ultimately the ideal marketing solution must fully address the three Rs: reach retention and revenue. It must make the connections between back-end technologies and many touch points available to customers including mobile devices PCs and interactive TVs.
This article was first published in Financial Express – Brand Wagon