What is the impact of technology on marketing? Technology has changed everything. Product life cycles are shorter. Consumers are more informed, demanding, elusive. And brands can no longer afford to be crafted over lengthy periods of time. Instead, writes advertising guru Agnieszka Winkler, a brand can--and must--be built at warp speed. She continues: With the advent of new communications technologies, it is now possible to spread the word, like a village drumbeat, to all corners of the world in months, weeks, or even days. The drumbeat is often carried by the users themselves--a more believable source of information in our jaded, skeptical society. This is a really big and topical subject and I have written various articles on the subject. However, here is a kind of 'brain dump' summarising the key points in a fairly random way: Product The Internet is changing the product and services available in a big way. In professional services, the Internet is allowing firms to develop new 'packaged' products - sometimes by providing integrated or related services such as financial and estate agents services. Using extranets means that certain clients can be provided with access to the firm's internal systems which both adds value and 'locks in' clients to your service. There are some good legal examples at kt.uklaw.net and fidler.co.uk . The expansion of the Internet is creating new issues in terms of contractual rights and copyright too - new service areas for lawyers. Price The Internet allows a lot of information to be obtained easily by customers. One side effect is that it is much easier to
Transcript
What is the impact of technology on marketing?
Technology has changed everything. Product life cycles are shorter. Consumers are more informed, demanding, elusive. And brands can no longer afford to be crafted over lengthy periods of time. Instead, writes advertising guru Agnieszka Winkler, a brand can--and must--be built at warp speed. She continues: With the advent of new communications technologies, it is now possible to spread the word, like a village drumbeat, to all corners of the world in months, weeks, or even days. The drumbeat is often carried by the users themselves--a more believable source of information in our jaded, skeptical society.
This is a really big and topical subject and I have written various articles on the subject. However, here is a kind of 'brain dump' summarising the key points in a fairly random way:
Product
The Internet is changing the product and services available in a big way. In professional services, the Internet is allowing firms to develop new 'packaged' products - sometimes by providing integrated or related services such as financial and estate agents services. Using extranets means that certain clients can be provided with access to the firm's internal systems which both adds value and 'locks in' clients to your service.
There are some good legal examples at kt.uklaw.net and fidler.co.uk. The expansion of the Internet is creating new issues in terms of contractual rights and copyright too - new service areas for lawyers.
Price
The Internet allows a lot of information to be obtained easily by customers. One side effect is that it is much easier to compare prices making price competition fiercer. The use of computer systems to reduce the time and effort involved in producing and delivering products and services means that suppliers can either increase their margins or offer the same services at a lower price. Commoditisation is also occurring where people 'package' new products and services together and offer them, via technology, at a lower price (the high volume, low value approach). On-line payment (through credit cards) makes it more convenient to clients/customers and can make cash collection quicker and cheaper for suppliers - again increasing the possibility of price reductions. Yet the Internet can make it more difficult to offer discriminatory pricing (i.e. different prices for different customer groups).
Place
The developments in the power of databases means that direct marketing is really coming to the fore allowing new segments to be more easily identified and allowing segments-of-one to be profitably targeted. Permission marketing has been born but is still in its infancy. The Internet is also a great source of information - allowing you to keep up with your competitors' and clients' activities. On-line polls and surveys can yield a large amount of additional information about your clients.
It also means that it is much more difficult to retain any form of differentiation when your services and approach are clear for all - including your competitors - to see. The Internet also allows you to reach a much wider geographical spread than was previously possible. The Internet makes markets more even - allowing smaller players to compete with big players and overseas competitors to enter new markets with ease. Some argue that the Internet is just another channel which needs managing just the same as other channels (e.g. retail outlets, warehouses, direct mail etc).
Promotion
In just about every sphere of promotion - advertising, direct marketing, personal selling, public relations - CD Roms, web sites, personalisation and interactivity are making fundamental changes to the way marketing works. For example:
Advertising
You need a web site - even if only as an on-line brochure. You need to advertise to get traffic to your web site. You can provide a web address in advertisements to provide further information or to capture customer information and orders. Digital television and the broadcasting revolution (including web TV) makes mass advertising practical and affordable for much smaller companies than previously. There are all sorts of new advertising media now available - electronic posters, information kiosks, banner advertisements, on-line directory entries etc. Interaction and multimedia are challenging the creative treatments of advertising as well.
Direct marketing
Database technology aligned with digital printing of short runs of full colour promotional materials has had a dramatic impact on direct mail. Email lists make it easier to have more regular and focused communications with key customers and clients. The use of call centres and computer assisted voice telephony are rewriting the books on customer service and fulfilment. Permission marketing is where customers provide information about their needs and preferences and agree to the supplier using this information for further marketing activities.
Public relations
Brochures and publications are now electronic, interactive and tailorable to the specific needs and interests of smaller markets and even individuals. On the WWW, the customer decides what information they require and in what order so some level of supplier control is lost. Desktop design and publishing is reducing the need for and cost of expensive designers and printers - sadly, good design is becoming rarer as more amateurs try their hands. Client communication programmes are much more easily maintained through the use of email and electronic communications - which also reduces the cost of postage. Media relations can be enhanced by providing background information and news releases on web sites. The Internet environment has generated a wide range of additional media which are hungry for good content.
Selling
Those tasked with selling can use the Internet to undertake fast research into prospects. Electronic presentations can be easily tailored and presented desk side or remotely (by email or teleconference). Databases have revolutionised client and contact management systems and field sales staff effectiveness and supervision.
Sales promotions
The use of 3D simulations and virtual reality means you no longer have to create a real exhibition space or show suites. Giveaways are often technology flavoured (mousemats, screen savers, free software etc).
Digital Marketing as new tool of Marketing
Digital marketing is the use of digital sources based on electronic signal like Internet, digital display advertising and other digital media such as television, radio, and mobile phones in the promotion of brands and products to consumers. Digital marketing may cover the more traditional marketing areas such as Direct Marketing by providing the same method of communicating with an audience but in a digital fashion.
Two different forms of digital marketing exist.
Pull digital marketing in which the consumer must actively seek the marketing content, often via web searches, and push digital marketing where the marketer sends the content to the consumer, as in email. Websites, blogs and streaming media (audio and video) are examples of pull digital marketing. In each of these users have to link to the website to view the content. Only current web browser technology is required to maintain static content. However, additional internet marketing technologies (search engine optimization) may be required to attract the desired consumer demographic.
Push digital marketing technologies involve both the marketer as well as the recipients. Email, text messaging and web feeds are examples of push digital marketing. In each of these, the marketer has to send the messages to the subscribers. In the case of web feeds, content is pulled on a periodic basis (polling), thus simulating a push. Push technologies can deliver content immediately as it becomes available and is better targeted to its consumer demographic, although audiences are often smaller, and the cost for creation and distribution is higher.
How significant is digital marketing?
a) No matter what kind of business you're in, marketing is the most important part. People want to buy goods or services from companies that are credible. The advertising strategy of any business determines the success of the business in the long run.
b) We are now in the 'internet age', and businesses have a wide range of opportunities where they can gain potential customers. With a large group of consumers connected to the internet and other digital platforms, digital marketing has an edge over
traditional marketing techniques. Older generations will mourn the slow death of newspapers, books, and make room for those who have grown up with the internet and mobiles and who are already embracing the new wave of digital consumption.
c) If a business wants to participate in a digital marketing campaign it's vital to figure out the right campaign that will appeal to their specific target audience. Out of the great selection of digital marketing methods, the internet stands out as it is the cheapest and most effective option. Online advertising, video advertising, blogging, e-mail, and social media are just a few tools that have stemmed from the internet, and its ability to reach a customer base that is global at great speed and at minimal cost compared to the more conventional marketing techniques.
d) With all these options that are available it's no surprise that businesses want to recognise the best method that helps them to reach and deliver the best results the fastest. So finding the right digital marketing agency is vital, one of many extremely important things to consider is the Web design-This may require expert advice. You need to make sure you website is attractive to potential customers and ensure that plenty of information is readily available and most importantly to you must ensure that your website is easy to navigate.
e) There are many other specialist features which an agency can offer. If your business is in need of a digital marketing agency then make sure you look at their customer testimonials section of their website to make sure they are suitable for your business. An exceptional marketing agency will be able to increase your number of site visitors using Search Engine Optimisation Services.
f) Internet marketing has many benefits, and some benefits are that digital marketing spreads fast, it's one of the cheapest methods and is a great way to promote your brand on the Internet. So don't get left behind, find how you can get your digital campaign up and running.
g) If you're looking for a Digital marketing agency that will provide you with superb results that can benefit your buisness greatly, Visit http://www.bigfootdigital.co.uk/ for more information today.
INTERNET MARKETING:
Internet marketing, also known as web marketing, online marketing, webvertising, or e-marketing, is referred to as the marketing (generally promotion) of products or services over the Internet. iMarketing is used as an abbreviated form for Internet Marketing.[citation needed]
Internet marketing is considered to be broad in scope[citation needed] because it not only refers to marketing on the Internet, but also includes marketing done via e-mail and wireless media. Digital customer data and electronic customer relationship management (ECRM) systems are also often grouped together under internet marketing.[1]
Internet marketing ties together the creative and technical aspects of the Internet, including design, development, advertising and sales.[2] Internet marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine optimization (SEO), banner ads on specific websites, email marketing, mobile advertising, and Web 2.0 strategies.[cita
Internet marketing is broadly divided in to the following[4] types:
Display Advertising : the use of web banners or banner ads placed on a third-party website to drive traffic to a company's own website and increase product awareness.[4]
Search Engine Marketing (SEM): a form of marketing that seeks to promote websites by increasing their visibility in search engine result pages (SERPs) through the use of either paid placement, contextual advertising, and paid inclusion, or through the use of free search engine optimization techniques.[5]
Search Engine Optimization (SEO): the process of improving the visibility of a website or a web page in search engines via the "natural" or un-paid ("organic" or "algorithmic") search results.[6]
Social Media Marketing : the process of gaining traffic or attention through social media websites such as Facebook, Twitter and LinkedIn.[7]
Email Marketing : involves directly marketing a commercial message to a group of people using electronic mail.[8]
Referral Marketing : a method of promoting products or services to new customers through referrals, usually word of mouth.[9]
Affiliate Marketing : a marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's own marketing efforts.[10]
Content Marketing : involves creating and freely sharing informative content as a means of converting prospects into customers and customers into repeat buyers.
ELECTRONIC MARKETING:
• Electronic business has some degree of overlap with electronic marketing. From the discussion of the marketing concept above we can reject this since both e-marketing and e-marketing are broad topics.
• Electronic business is broadly equivalent to electronic marketing. This is perhaps more realistic, and indeed some marketers would consider e-business and e-marketing to be synonymous.
Electronic marketing is a subset of electronic business. It can be argued that this is most realistic since e-marketing is essentially customer-oriented and it has less emphasis on supply chain and procurement activities in comparison with e-business.
Mobile MARKETING: The mobile Web can support direct digital marketing tactics like SMS, MMS, and even emails that contain a mobile-friendly version viewable as a Web page. Mobile Web pages should be developed for universal functionality across mobile browsers and devices so the experience is consistent for the greatest possible consumer base .
The online marketing universe is filled with discussion about mobile as an emerging direct digital marketing channel. Despite all the discussion, we see that many marketers are very unclear about what mobile marketing really means, or they have very different working definitions. This is justified because the term “mobile marketing” generically describes marketing interactions with an individual through the technologies found on their mobile device. The more technologies that are found, the more ways there are to describe “mobile marketing.
Mobile Advertising This category itself can be subdivided many times. Simply stated, mobile ads fall into a couple of categories: mobile banners and mobile search. Each is a spinoff of the established online ad channels, with virtually the same roster of ad partners creating alternatives for consumers browsing and searching the Internet through their mobile browser.
Additionally, ads are often placed in popular apps simply because this is where eyeballs can be found in a highly interactive and controlled environment.
Ooh marketing:
Out-of-home marketing (or outdoor advertising) is made up of more than 100 different formats, totaling $6.99 billion in annual revenues in 2008 in the USA.Outdoor advertising is essentially any type of advertising that reaches the consumer while he or she is outside the home. This is in contrast with broadcast, print, and Internet advertising.
Out of home advertising, therefore, is focused on marketing to consumers when they are "on the go" in public places, in transit, waiting (such as in a medical office), and/or in specific commercial locations (such as in a retail venue). Outdoor advertising formats fall into four main categories: billboards, street furniture, transit, and alternative.
Digital out-of-home refers to dynamic media distributed across placed-based networks in venues including but not limited to cafes, bars, restaurants, health clubs, colleges, arenas, gas stations and public spaces. DOOH networks typically feature independently addressable screens, kiosks, jukeboxes and/or jumbotrons. DOOH media benefits location owners and advertisers alike in being able to engage customers and/or audiences and extend the reach and effectiveness of marketing messages. It is also referred to as Digital Signage.
What does traditional marketing include?Traditional marketing is everything you have seen done in the past, above and below the line. It is the television
ads, business cards, the print ads in the newspaper, promotions, brochures, posters and radio. It relies on
technology we have had for some time, and while this technology is gradually becoming less popular, there are
certain parts of your audience who will always prefer it! In general, while traditional marketing intends to provoke
a response (this is its core purpose), largely, it does not offer the opportunity to be interactive and can be difficult
to measure. How do you know how many people read your ad, saw your billboard, or watched television for that
specific 30 second slot?
What does digital marketing encompass?This is a difficult question to answer, because right now digital media is evolving rapidly and what it currently
encompasses, and what it could encompass in just a week could be markedly different – the possibilities are
endless! Right now, if you’re exploring digital marketing, you are looking at everything from your company’s
website, through to banner ads (even moving videos) on sites relevant to your audience, rankings in search
engines, mentions in social media, and company-owned social media pages, videos on the likes of YouTube,
and a myriad of other media. The most exciting aspect of digital media is the majority of it is completely
interactive.
With web 2.0 came the opportunity to provide your feedback and input on everything, to chat live to a consultant
online, and to create an avatar that lives in a make-believe computer world. As web expands and evolves,
interactivity is only increasing. What this means for your marketing, is that in some respects you are losing
control – you can’t control everything consumers say about your brand. So increasingly, we are becoming more
and more accountable for our businesses – essentially, if we make a brand promise, but don’t deliver on the front
line, people will know!
How will this impact my marketing strategy?The most you can know at this point is your marketing strategy needs to reflect both traditional and digital
marketing tactics. It is still very important to maintain an element of face-to-face communication, to leave a
