Utilizing business promotion technologies can increase customer engagement and responsiveness while giving your company an edge against its rivals.
Marketing technology refers to a set of digital tools used by marketers to manage digital interactions with customers – from managing e-commerce websites and social media profiles, through to social media management tools.
Emergent Digital Techniques
Emergent Digital Techniques are rapidly emerging technologies in business that could revolutionize their operations, as well as present new challenges to be dealt with – for instance in relation to copyrights, trademarks, patents and royalties issues that arise due to these disruptive technologies. Winston & Strawn offers resources specifically to address such matters through our Disruptive Technology Legal Resource Hub.
Emergent digital techniques can make marketing campaigns more bespoke and persuasive, increasing success rates and helping a business close more deals.
Artificial Intelligence (AI) and Machine Learning (ML) are driving digital transformation by automating processes, gathering insights at scale, and personalizing experiences and content for consumers. Chatbots powered by AI are revolutionizing customer service interactions while ML algorithms optimize advertising campaigns and content recommendations.
AR and VR technologies are creating immersive customer experiences, revolutionizing digital marketing strategies and revolutionizing product visualization, virtual showrooms and e-commerce operations.
Voice Search and Smart Assistants offer hands-free interactions, making mobile devices particularly beneficial. Furthermore, this technology boasts low costs without needing additional hardware – simply a speaker connected to the internet performing all necessary work!
The Metaverse is an ever-expanding online world that enables individuals and groups to engage with one another from any location worldwide. Businesses can leverage it to reach new customers that may otherwise remain out of reach in physical or traditional online environments.
With technological innovations like 5G and the advent of more affordable and intuitive devices like virtual reality (VR) and augmented reality (AR), accessing the Metaverse is becoming easier. Business owners can leverage it for creating immersive experiences that go beyond video calls, webinars or social media channels.
Car brands, for instance, could create an immersive virtual showroom that consumers can explore from the convenience of their own homes. This could also allow businesses to research product designs or other aspects of their business more quickly without incurring costly travel expenses or having to incur other significant expenses.
Branding, marketing and advertising in the metaverse is still relatively novel. While results of such campaigns may not be instantaneous like traditional advertisements do, they can lead to long-term engagement and customer loyalty.
Before investing in the metaverse, it’s essential to gain an understanding of your target market’s desires for interaction with you. Make sure the platform meets customer requirements while tracking engagement metrics instead of clicks or likes as indicators of success.
Augmented Reality / Virtual Reality
Use of AR and VR for digital marketing allows brands to create memorable experiences for customers while building connections in new ways. These technologies are revolutionizing business practices and helping firms compete more effectively within a rapidly expanding marketplace.
Virtual reality immerses users into an entirely fabricated environment created on a computer; for instance, using a VR headset you could take a virtual tour of Italy. Conversely, augmented reality adds virtual elements into real-world environments through apps – for instance you might look down at your map and notice an animated fox pointing in your direction!
Augmented reality is more accessible than virtual reality as it doesn’t require special hardware to operate, making it suitable for applications across e-commerce, marketing and education as well as in business settings such as product visualization, manufacturing and training.
Augmented reality (AR) can help users better comprehend complex products by placing them into realistic scenarios and offering interactive demonstrations. Furthermore, AR can teach customers how to use the product more quickly and make quicker decisions about purchasing it – this makes AR an invaluable tool for improving customer experience and increasing sales – such as when Warby Parker allows its customers to virtually try on glasses before making a purchase decision.
Blockchain, the technology underlying cryptocurrencies, promises to bring an additional layer of security and transparency to digital marketing. This ledger-based, decentralized technology enables companies to securely share customer data while validating transactions and tracking customer activity – at less cost than current methods of storage and tracking customer information.
Blockchain can assist marketers in targeting ads more precisely while offering users an enhanced user experience. For instance, Brave browser uses Ethereum-based tokens to reward consumers and publishers when ads are viewed – helping advertisers reduce unnecessary ad spending while rewarding users for engaging with brands.
Blockchain can also lower costs by eliminating third parties. Traditional business models rely on content delivery networks to distribute and sell their products; these third parties charge high fees that eat into profits. Blockchain solves this issue by enabling brands to negotiate directly with publishers, freelancers and external vendors without resorting to middlemen as intermediaries.
Blockchain gives businesses another effective means of raising capital. Instead of seeking out investors directly, blockchain-based companies can host Initial Token Offerings (ITOs), giving people an opportunity to invest in them in exchange for tokens which can then be spent. This method may prove particularly valuable for small businesses that require funding for advertisements or new product development.