Marketing Technology Bases
Technology has transformed the traditional marketing strategies into modern marketing by making campaigns more immersive for the people and personalized to create ecosystems besieged and incorporated to the marketers. Traditional marketing is the oldest form of marketing, which focused more on reaching the local audience; hence ads could be kept for a long time in their physical displays. Marketers would identify their targeted audience and place their ads where their targeted audience will interact with them through hearing of seeing them offline for they were in the form of billboards or print ads (Dzyabura, & Yoganarasimhan, 2018). The business had a difficult time interacting with their consumers since they did not engage with them in real-time because consumers could not react immediately after seeing or hearing the advertisements. Over a period, technological advancement changed the whole field of marketing by eliminating most of the challenges that made traditional marketing unrealistic and unreliable to marketers. Therefore, through technology, digital or modern marketing is one of the emerging marketing strategies for almost all the businesses where marketing is conducted online through social media ads, pay-per-click marketing, and email marketing.
Notably, in the way world is becoming more digital the same way marketing is evolving. Traditional marketing established an essential base for marketing. Simultaneously, technological advancement promoted the marketing strategies that were used traditionally to become more realistic and reflect on time to the business. Internet, social media, mobile phones, and customer relationship management systems result from technological advancement, which has dramatically influenced the way companies to communicate with potential customers in a diverse area. Furthermore, marketing experts are going beyond these new forms of communications in the changing media landscape to create more meaningful marketing campaigns through technology (Petit et al., 2019). Machine learning (ML), personal security data, and BlockChain are some of the strategies that have been currently used to reach the targeted audience. Besides, they reveal different and appropriate actions that can help maneuver the challenges along the stacking amount of big data in digital marketing. Consequently, this perspective looks at how machine learning has impacted crucial areas of the marketing ecosystem and the role of the personal date surety/privacy in the future of Big Data. Besides, it defines how BlockChain enables modern marketing strategies to use personal data to better advantage the marketing and advertising environment in the future.
New Technology and Marketing
Since the rapid progression and the massive amount of talents have contributed to building up Artificial intelligence in machine learning and blockchain strategies, they all have emerged from dedicated resources that have been enhanced by the new technological advancement. Therefore, before looking at how blockchain and machine learning have influenced digital marketing, it is essential to look at some of the influences that technology has brought to the digital marketing (Petit et al., 2019). The new technology has infused marketing systems and infrastructures on which companies are built strategies of delivering value to procurement from the bottom line efforts of marketing. The technology integrates the targeted group of potential customers with the marketers by taking the marketers where the consumers are. The current mode of entertainment and desired shopping preferences of the current digital era people have taken another path to be conducted online. Therefore, technology has filled the gap between marketers and consumers through online platforms where people get their information from desired marketers.
Efforts of collaborating the technology with marketing strategies need an empathetic understanding of how the new technology’s online application to brand or product differentiation. Therefore, marketers need to assist their company’s legal and information department and their technology department in intelligence unification of data insights they collect to deliver the anticipated return on investments. Besides, the new technology has allowed businesses to capture the attention of a market and the market for their specific products through the use of digital signage, which is one of the new technological trends marketing. Technological influences on marketing have helped businesses grow and flourish while creating stronger relationships with customers, thus making marketers view it as one of the crucial aspects of growth and development (Petit et al., 2019). In addition, the corporate attitude towards marketing functions and marketing approaches have made possible through the changes influenced by the rapid evolution of technology.
Marketing has been made accessible through various aspects since, through the internet since, with just an online click, it can feed consumers with insight about a particular company and its products. Therefore, marketing technology has automated laborious marketing tasks that have helped to reduce the number of person-hours required to perform specific marketing tasks hence achieving more with less in business. Besides, digital marketing technology has provided actionable insights that can improve the return on investment in marketing efforts a business applies, thus scaling up different initiatives that can maximize the retention rate of the customers and cost per acquisition. Notably, the business should learn on improvising digital marketing as a component of marketing in utilizing online and internet-based technologies to promote their product and services through the new marketing technologies.
Machine Learning and It’s Influence in Marketing
Machine learning is a tool that can reveal significant trends in digital marketing and analyze huge bands of data in a well-organized and quick manner without human errors. It is a machine with artificial intelligence and ability that can provide actionable measures of improving productivity by helping the digital marketers empathically understand their targeted audience. Data is fed into the machine learning algorithm. The machine learns about the data entered and uses artificial intelligence theories in it. It derives a more accurate and directives, which reveals data trends, the rights target influencers, and analysis of marketing campaigns. Therefore, marketers can learn from tactics and predictions this machine produces and derive reliable and reputable marketing decisions that significantly affect the respective companies (Dzyabura, & Yoganarasimhan, 2018). Implementing machine learning into marketing campaigns is one of the current models that are more relevant when it comes to revealing remarkable information on how to engage with consumers. It is one of the remarkable innovations in digital marketing with artificial intelligence tools, which helps to streamline the marketing process and make business more productive.
Exploiting the enormous ability of artificial intelligence towards the business marketing campaigns’ prosperity is no longer a challenge to the businesses anymore. Many companies have taken advantage of technology’s rapid growth and prioritized their investments on machine learning to remain in the competitive market. Machine learning has the eminence of enhancing customer online shopping experience by guiding the buying journey and providing personalized product recommendations that can help them acquire what they want quickly. Besides, the machine learning software has developed new products and services, which provides more opportunities for companies to tailor their marketing movements specifically to the functioning groups in their industries. The use of machine learning provides valuable information with segmented marketing efforts, whereby companies can provide more targeted content that is ultimately collaborated to optimize content and services (Dzyabura, & Yoganarasimhan, 2018). Through a well-personalized human experience, ML’s ability has personalized e-commerce to make customers feel more important with the right experience crafted to them to cater to all of their interests and needs. Nevertheless, the ability of the artificial intelligence in ML boosts the marketing efforts by eliminating marketing waste by providing the marketers with the right processes and tactics of reaching their audience with the right products and content that can offer the most excellent chance of engagement.
More specifically, one of the significant impacts of ML in marketing is revealed in the alteration of changing aspects between advertisers and customers. ML acts as the future profession of the marketing managers since they can explore more on a pay-per-click advertisement, social media advertisement, and media buying strategies. Therefore, ML has provided the most significant marketing breakthrough by optimizing key market insights that help the brand understand what people want to read (Dzyabura, & Yoganarasimhan, 2018). Besides, it improved customer satisfaction by analyzing customer behaviors on websites, understanding how they progress with the sales process, and developing a personalized experience. Thus, the integration of human-mediated marketing with ML is interlaced into discoverable, adjusted, and tactical strategies of content development, helping marketers’ campaigns succeed in the market. According to Dzyabura, & Yoganarasimhan, (2018), the critical characteristic of ML to influence the customer satisfaction experience online is to produce an accurate sample of predictions of the trends and tactics of marketing to be used. Therefore, no mistake or marketing efforts go to waste since its guide to decision making is accurate and on time for the targeted customers.
Role of Personal Data Privacy in Future of Big Data
Personal data is an essential aspect of dynamic digital marketing in current situations where technology has threatened privacy by reducing the amount of control over personal data. Technology has opened possibilities of a wide range of negative consequences because of access to personal data. However, personal data privacy can be upheld if a market operates on the bases that observe fundamental privacy legislation, which guarantees consumers proper information compensation for their value. On the other hand, personal data is created every day, and that Big Data has taken the world by storm, which can never slow down by now (Martin, & Murphy, 2017). Big Data is an extensive data set that can be computed to disclose patterns, associations, and trends related to human behavior and interactions. Just like machine learning, Big Data uses data as raw material to derive predictive tactics at the end of the process, thus helping businesses construct better marketing and business models of dealing and associating with their customers.
Therefore, personal data security will be the biggest challenge in Big Data when extracting data from a large-scale database of various platforms without illuminating complex privacy data about an individual in the database. Personal data privacy will bring inference control challenges, which will affect the ability of Big Data to extract information from different databases (Martin, & Murphy, 2017). Data privacy and security concerns will be a cruel challenge to hurdle in the big data industry. If it fails to cope with it adequately, there will be the development of a long technological trend that will become fad very quickly. Integrating personal data from disparate data sources will become a challenge, too, since personal information will be encrypted by personal data privacy and security measures (Martin, & Murphy, 2017). Therefore, these concerns will create privacy-preserving contrivance to be developed for protection at different stages of the big data life cycle. Thus, any data conversation between relationship holders and customers and additional access to this data will be severely restricted to the purpose of the transaction. Personal information will not be used for unrelated the transaction.
The relevance of BlockChain to Digital Marketing
Blockchain is a data structure that holds transaction records and ensures a decentralized arrangement of records securely and transparently. Generally, the chain of information in the records is stored in blocks that are not controlled by single authority (Brauer, & Linnala, 2020). It can be described as a distributed record that is entirely open to everyone on the network; hence after the information is stowed on the blockchain, it is challenging to change despite accessing it. Blockchain technology praised security measures, which improved transparency of the shared database and made a more straightforward concept to grasp. Besides, it captures transaction information and stocks it to the public, enabling countless usage cases such as digital marketing and money like in bitcoin.
On the other hand, digital marketing is the technological use of internet devices such as social media and mobile devices to channel a connection to the consumer. It is one of the new approaches that the marketing experts are considering to be useful in approaching customers in a way that is creating empathy on how the customer behaves (Brauer, & Linnala, 2020). Therefore, effective capture and use of data highlights in digital marketing require an approach that can mention a deep understanding of consumer behavior.
The main question one can consider here is what kind of relationship exists between the blockchain and digital marketing? However, the reality is digital marketing seems to be relying more and more on data, which is the new kind of currency in the marketing world from the improvement of customer experience to advertisement and optimization of websites. People do not realize how digital platforms collect their data and sell it to the advertisers to sell their products. Here, blockchain technologies are used to disrupt platforms that aggregate and sell data. Therefore, this makes it possible for advertisers to avoid intermediaries in digital marketing (Brauer & Linnala, 2020). Consequently, blockchain facilitates a unique digital advertisement brand in which consumers can own their data rather than surrender it to publishers of social media platforms. Hence, the consumer can be compensated directly for their advertising data while leveraging this more accurately.
In conclusion, the rapid advancement in technology has influenced significant aspects of marketing strategies. It has improved the traditional marketing models to a more concise and timely bond advertisement, which turns to improve customer satisfaction through exceptional experience. Besides, major marketing technology bases such as machine learning have influential aspects that seem to be improving marketing strategies by defining suitable marketing tactics that can enable marketers to improve their practices effectively and in a cost-effective manner. Furthermore, significant data influences the personal data security have shown how marketing strategies are going to diverting from the security and privacy measures that will encrypt private consumer data. Thus, the consumer will monitor how their data is being utilized in digital marketing using blockchain programs. All these marketing aspects originate from technological advancement and their bases, or main concern is set to improve marketing strategies and create an ethical environment where consumers are satisfied with experience and manner in which their data is utilized on websites.
References
Brauer, J., & Linnala Eriksson, B. (2020). Blockchain’s influence on digital marketing: An exploratory study examining blockchain in relation to big data and digital marketing.
Dzyabura, D., & Yoganarasimhan, H. (2018). Machine learning and marketing. In Handbook of Marketing Analytics. Edward Elgar Publishing.
Martin, K. D., & Murphy, P. E. (2017). The role of data privacy in marketing. Journal of the Academy of Marketing Science, 45(2), 135-155.
Petit, O., Velasco, C., & Spence, C. (2019). Digital sensory marketing: Integrating new technologies into multisensory online experience. Journal of Interactive Marketing, 45, 42-61.