Biggest Impacts of Marketing Technology Saving Businesses in the Pandemic
Marketing Technology Saving Businesses in the Pandemic: Digital marketing teams may seem to be a privilege during a global pandemic, especially for companies affected by the crisis. However, modern digital marketing is rescuing a lot of businesses in the new normal economy.
So, instead of cutting back on marketing, businesses need to be more agile and develop unique ideas on engaging and connecting with their target market amid difficult times.
We must strike a balance between financial obligation and keeping customers alert and involved times of crisis.
Long-term studies show that rising marketing expenditure is the best strategy during times of economic uncertainty.
At this time, most consumers are open to marketing campaigns. Around 43% of customers find it comforting to hear from brands. 54% said it was interesting to hear how brands are assisting their populations in the face of the pandemic. Only 15% say they’d rather not hear from businesses.
One can still continue to run a successful marketing strategy even during these tumultuous times. Digitech innovations for business help boost your brand and keep it strong even through a global challenge.
10 Marketing Technology Helping Businesses in the Pandemic
Marketing analytics measure how effective digital marketing strategies are via data analysis and uncovering clever ways of producing better campaigns.
A better understanding of how analytics work helps digital marketers better predict consumer behavior and improve user experience (UX). With a skilled digital marketer in your team, raw data can be turned into a successful digital marketing action plan.
Data is now more valuable and usable than ever, compared to traditional ads that had to resort to a lot of guesswork. Companies rely on digital marketers who can do market research to glean insights.
Furthermore, data cleaning and data interpretation must go together. Digital marketers need to discard incorrect, duplicate, or incomplete data to avoid obsolete and irrelevant decisions.
Approximately 85% of consumer interactions in 2020 were done without the involvement of human beings. Chatbots and other platforms became more dominant as the pandemic raged. It includes online sales and delivery, automated retail, and touch-less engagements.
Chats, phone calls, e-mails, and social media engagements are now automated to replicate human functions. It takes a load off businesses, some of which had to downsize to maintain operations amid decreased sales and operations.
Many facets of eCommerce are affected by artificial intelligence today. AI quickly detects the trends and clusters in consumer behavior, purchase patterns, and other commonly occurring data. In fact, AI now makes it possible to detect millions of such purchases per day, generating a customized experience for a single user.
More than 33% of marketing leads are lost due to a lack of follow-up. By effectively re-targeting new clients, AI stops this from happening.
Next, with the sales processes moving beyond time-consuming methods, consumers are now influenced by different media types. Using artificial intelligence integrated into CRM systems enables businesses to personalize solutions and communications that target the right consumers at the right time for the proper purpose.
3.Online Businesses Solutions
The pandemic has changed our lives and the way we work. As COVID-19 reached a pandemic status, companies were forced to close to comply with social distancing regulations. As the pandemic escalated, so did the lockdowns in different nations.
Touch-less solutions were crucial for business continuity. Thus, more companies opted to move their company online as a result.
Forbes identified an increase in the number of businesses who build or redesign their websites and start new social media initiatives. These campaigns are focused on business-minded and technology-savvy clients.
Nurture and expand your client base by investing in good CRM resources. You can connect with them on the platform, host webinars, run discounts, or introduce programs.
The more your online presence grows, the more engagement and conversions you get. It can help businesses undergoing crisis recovery.
Today, there are many challenges in digital marketing strategies as a lack of focus on an integrated strategy, testing, and optimization. Additional problems include structural issues and coordination failures for digital marketing teams.
Several businesses are now putting in digital transformation initiatives to address these issues and leverage opportunities to expand a business through digital marketing.
As digital technologies, expertise, and skills continue to grow, it is imperative that they also be used to make strides in the realm of developing new digital strategies.
As an example, Artificial Intelligence in digital marketing can affect user experience (UX). Moreover, cloud-based technology like Machine Learning makes it easier to scale marketing campaigns, allowing continuous operations via fully automated tasks.
5.Artificial Intelligence and Marketing Automation
Brands are using AI-powered technologies for marketing purposes more and more as a means to complement their current marketing campaigns. Artificial Intelligence powers voice search and smart assistants. It powers chatbots that are revolutionizing consumer experience.
Artificial Intelligence and automation help take repetitive and low-level marketing tasks, so digital marketers can focus on high-quality tasks like manning the team, conceptualizing, data analysis, campaign-building, communication, and other related tasks to the customer experience.
However, the advent of modern technology such as big data, predictive analytics, and customer targeting requires digital marketers to step up and develop new skills on these new techniques. Customer loyalty is enhanced by automation through hyper-personalization and on-scale marketing engagements.
6.AI-Powered Email Marketing
AI plays a significant role in email marketing, contributing to its steep revenues at $38 for every dollar spent.
Since most businesses have moved online and are employing digital marketing, the competition for the market’s attention has become more cutthroat. But intelligent strategies powered by Artificial Intelligence solutions can level the playing field.
You need to start using data-centric email marketing plugins, allowing you to create unique communication and follow-up strategies that yield the best possible results. If you are already using email marketing, upgrade to AI-powered plugins to stay competitive in 2021.
Those who could retain their physical stores start collecting customer email addresses using a POS (Point-of-Sale) system. Just make sure you do all your lead generation in keeping with privacy laws to avoid issues for your company. If you’re exclusively an eCommerce retailer, you can collect email addresses as visitors land or leave your site.
Modern POS systems and retail platforms can be linked to email marketing apps such as MailChimp. This way, you can create and manage a subscriber list, automate email campaigns, and generate detailed reporting.
Around 70% of customers post a brand’s video. Video content can bring a 72% increase in a brand’s conversion rates. The combination of live streaming and influencer marketing is also powerful and appeals best to the millennial generation.
Twitch, for example, has over 15 million daily active users who mainly stream live videos from famous gaming influencers.
There are various strategies for increasing interaction, one of which is video marketing. If your website includes video, it has a 50 times more chance of driving organic search results. Google also favors video content sites in their rankings, so create stunning video content to boost your brand.
During the pandemic, more people are spending time at the safety of their homes and are usually online through social media. As a result, web advertising revenues increased significantly. As part of a relaunch strategy, this does an excellent job of reminding people that your business is alive and well and that you aim to remain a “mainstream” industry.
In particular, Facebook ads are relatively affordable—even for local businesses—and can help you showcase any changes you have made to your business or any COVID-19-exclusive discounts or promotions you might be offering.
You can advertise your business more affordably and efficiently by using advertising on the internet. You can target unique customers based on preferences and geographic location with Facebook, a tremendous targeting tool for marketers.
The pandemic also reduced the CPM (cost per thousand impressions) on advertising since businesses do not have a huge marketing budget to contend with. It is an excellent time to invest in a good Facebook Advertising campaign to help draw leads and sales.
You should not use all paid advertising platforms. Just focus on the ones you can target your market. Facebook advertising, Google Ads, LinkedIn Ads, and Twitter ads can make the best of the data regarding consumers’ browsing and buying behavior.
For example, if you are a cosmetics or fashion business, your target market is usually on Instagram. If you are a micro-SaaS company in the new normal economy, keyword research tools like PPC or LinkedIn are the most effective ways to promote your business.
While social media is used for content and networking, it is also used now for social media eCommerce, or “Social Commerce.”
Social media sites are starting to allow products to be purchased and sold on their platforms. Brands are now utilizing strategies such as SMO (Social Media Optimization) to protect and even increase revenue opportunities.
Now you can complete your payments on Instagram with Instagram Checkout, which was launched in March of 2019.
Brands now get extra help to reduce cart abandonment and brand-switching. Indeed, social media is vital to digital marketing. As more and more people shift to shopping via social media, Social commerce ads will take off further.
Instagram estimates that 1 billion users have the app, and 90% follow successful shopping brands.
Since more of your target market is online, marketers must find successful ways to reach this larger community of customers, including those in your area. Brands can refine and optimize marketing strategies by using digital marketing in the most cost-effective and visible ways.
Digital marketing allows you to enter the global markets without incurring the high costs associated with traditional global marketing. Using these digital tactics helps to create brand loyalty, mainly because digital marketing allows you to track marketing activities in real-time.