How is technology transforming marketing?
With over 7000 online marketing tools now available for businesses, we’ve seen a growth in digital marketing budgets(rising from around 22% to 29% of total marketing budgets in the past year). As we see a rise in digital marketing, businesses have also taken web-development in-house. Business websites have now been designed for higher conversion results, growth in consumer base, and brand awareness.
Here’s how e-commerce businesses can take advantage of advancements in marketing:
1. Take advantage of analytics and testing software:
Software such as Google Analytics, Snapchat Ads, and Facebook business manager are used to track user traffic and flow. Certain metrics such as click-through rate and cost per click are used to measure the success of certain features of websites. Tools such as A/B testing software allow you to test whether certain features of the site are effective in driving traffic towards your client/company’s desired conversion goals. A great example of A/B testing would be companies that provide SaaS. Certain features such as login menus are tested in different regions of the web page in order to see where the feature is the most effective. Web-development and testing are integral in developing chief marketing strategies, having processes such as A/B testing definitely guarantees higher ROI.
2. Understand how artificial intelligence can help with data collection:
Analytics and website development provides a solid foundation for the future of digital marketing. However, artificial intelligence has the ability to solidify integration with analytics and human tasks. Spending on cognitive tech is expected to grow from $19.1 billion in 2018 to $52.2 billion in 2021. New developments such as predictive analytics have opened avenues in consumer forecasting. Using the audience profile data, we are now able to predict what the customers want, or where your general customer base is becoming interested in. With the assistance of machine learning marketing tech, agencies have the ability to use machine intellect as an instrument for market growth.
3. Optimize your website’s UI/UX Design:
As the amount of content online increases, attention spans decrease. Studies have shown that given 15 minutes to consume website content, users prefer an easier to use and more visually pleasing website than a more informational and hyper-organized website. As an e-commerce business, your audience determines your UI/UX design. In order to do so, processes are set in place in order to ensure you are catering to your intended audience. These processes include: managing CRM and cross-browser/device friendliness of the site, running A/B tests, user accounts and account management, email set up/subscription management, etc. UI/UX design is integral in the growth of your e-commerce business and using specific processes ensure that your website retains an optimal user base.
Marketing in 2019 can be broken down into a couple of different aspects including web-development, analytics, media management, and reporting. Each aspect allows for marketers to grasp a deeper understanding as to how to better cater to their intended audience. Developing technologies such as machine learning/AI are increasingly becoming popular among marketers as these machines are used to measure growth by the numbers. In return, the future of marketing will combine analytics, web-development, reporting, and AI to find the most accurate possible solutions.