The role of technology in marketing

Posted by Voxturr on November 5th, 2019

The role of technology in marketing

With more and more people of engineering and science backgrounds entering the marketing jobs, more technological advancements can be noticed for this sector. People with more knowledge of technology may induce technical changes in the work environment, which may later become compulsory for new marketers to follow.   

Talking about the most significant MBA programs in India, top IIMs have agreed to induce Machine Learning programs into the courses they are offering. People may want to know why machine learning is essential in the commerce sector. The answer is to reduce the workforce and incorporate intelligence that may give more subjective decisions while taking business decisions. 

What is the role of technology in the marketing sector?

Nowadays, marketers need to deal a lot with digital marketing. SEOs, advertisements, maintaining social media profile etc. are the primary concern. The famous 4P(Product, Place, Price, Promotion) rule of marketing is essential. Marketers need the right way and the right place to promote. To ensure this, they need to deal with a large number of big data so that their decisions remain safe. 

The technology helps marketers get closer to their clients. An online way to interact is the best way one can reach its clients. They can deal with millions of users at the same time. This is profitable for real people in the business. Amazon and Flipkart are online marketers. The way they promote is beneficial for a growth hacking agency who support their products in the online portal. 

Customers can review their products in the company's official website, or they can post their viewpoints on social media platforms. This is how significant growth marketing agency get to know about our mood by reviewing our comments. 

The software is the building block of customer-centric marketing strategies. Interconnected devices are in massive need for maintaining relations between marketers. Also, we need technology for keeping track of records of marketers promoting products in the market. It is the best way to reward marketers in case they turn profitable for the company. 

Marketers need internet vehemently for their research. Which market may cost them less is beneficial for them taking decisions on some issues. 

Technology in Promoting Products

Social media, reviewing, getting to know about other products, comparisons are exclusively compulsory for marketers who are responsible for promoting products. This is also essential for companies promoting software products. You may see antivirus products, beauty products in Facebook ads. The main reason is to let the product reach you. 

So now you have seen how technology impacts the marketing sector.

Insurance sector

Recent advancements in Blockchain technology has amazed many insurers in the world. Bank of China has adopted this technology to ensure secure, decentralized, non-hackable and transparent systems and subsystems for its own need. 

Technology is intrinsically bound to its advantages it provides to ease workloads and customers service. For example, an app for a service may incur fewer problems in processing payments. The app may show the current status of the insurance product the customer has bought. This will reduce many issues for the user. It may also have a payment option which might ease the payment procedure for the user. 

As a marketer, developing marketing campaigns for promoting products or service is valid if it becomes a success. For this, they need data scientists to help them with the data upon which the entire idea may stand. 

MARKETING TECHNOLOGISTS

Marketing technologists are essential as they assist in making digital business strategies. As mentioned above, the internet has become an outsourcing platform for consumers. They need to utilize it to get ideas about launching their products. 

Marketing skills largely depend on mathematical knowledge. They need to be practical and use some scientific skills to give their best. 

There are seven ways of marketing:

Pricing: To set the most effective price of a product so that it is available to all.

Product Management: to design and develop newer ways or improved methods and update products to make it stand in the market, and it is beneficial for the customer. Marketers need to recruit people who would help in upgradation of the product. 

Distribution: determining the best way to distribute the product so that it is available quickly to the customer. Online selling platforms may become the best way to launch a particular product and market it. 

Gathering Information: Connect with users to get to know about the ups and downs of the product distributed by their websites or social media platforms.  

Financing: Creating a financial budget of the entire promotion activity that might take place, obtaining the fund and helping consumers with financial assistance.

Selling: Communicating with customers to satisfy them about their need.

Promotion: To make real product success, consumers need to know about the detailed specs of the product, which might be available online. 

To make product more user-friendly marketers need to assure their consumers' more improved ways to communicate with them. This would not happen without the assistance of technology-based devices.    

Technology in Sales

By running some marketing campaigns with the help of marketing software, one can control everything. Social media posts about the product, blog articles and emails can be noticed all at the same time. Managers can track how many products are sold each day. They can use this data to figure out the best time to share blog posts. Indeed technology is everything. 

Technology helps with communication. Real communication with the user promotes better relationships, strengthen the effectiveness of organizations and help businesses prosper. 

Conclusion

Marketing has been stated as one of the four key functional areas for a business to function. Marketing's role had changed in the late 1990s to build strong customer relationships. This was done to change the way other corporations communicate with each other. Marketing is recognized as the bond that binds customers and organizations together. Sales production assist in planning financial budgets. Predictive analysis in marketing helps research and develop newer projects for product development. Encouraged by the use of digital technologies, consumers do not need marketers to reach them. Now they can do the same with enriched mobile application development. Users who seek additional Information may contact the company online. Two persons are the key functional parameters. The first is consumers, and the second is technology.  Integrating both of them may boost product usage and increase company involvement in the market.