There was a time when people used to scoff at the idea that the internet will have an impact on the world’s economy. These were no ordinary people. They included the 1998 Nobel Prize-winning economist Paul Krugman as well.

Krugman’s famously said, “By 2005, it will become clear that the internet’s effect on the economy has been no greater than the fax machines.” Fifteen years have gone by since then, and we can all confidently say that Mr. Krugman was way off the mark in his analysis.

If anything, the growth of the internet has led to disruptive innovation in multiple fields. One such field is marketing.

Digital marketing had humble beginnings back in the 1990s, but since then, it has evolved into a juggernaut. People all over the world want to be a part of this field, and businesses make sure they incorporate it in their strategies.

With the COVID crisis, where people and businesses have started relying a lot more on the internet, the role of digital marketing has increased tenfold. In simple terms, if you want to stay relevant in the modern world then you have to opt for digital marketing.

Digital Darwinism

In the modern age, technology and society are evolving at a faster rate than businesses can adapt. This digital Darwinism has disrupted markets all over the world, and it’s not going away anytime soon. The only way to survive this evolutionary process is by adapting. As they say, “survival of the fittest.”

To survive the impact of disruptive innovation, marketers need to know about the latest technology that is emerging in their field. The days of trying to make educated guesses are gone. As Lord Baelish from Game of Thrones once said: “Knowledge is power.”

With that in mind, let’s take a look at the latest technology that is going to have a massive effect on the world of digital marketing:

Artificial Intelligence

Do you remember R2-D2 from Star wars? Well, with the help of companies like Uber and Microsoft, these robots have stepped out from fiction into the real world.

These companies are using Knightscope K5 robots to perform tasks such as patrolling areas like parking lots, along with predicting and preventing crimes.

You might be wondering what this example has to do with digital marketing. The answer to that question is that this example highlights how artificial intelligence uses data.

These robots observe people, record their behavior, and develop predictions based on the data accumulated. We all know that to create a successful digital marketing campaign, you need to have data.

Data provides marketers with consumer insights, details such as customer buying habits, interests, habits, and preferences. With this information, marketers can give customers exactly what they want and grow their business.

In addition to deriving customer insights, AI is also useful for interacting with customers. Facebook famously uses chatbots to respond to customer queries and complaints. Chatbots also handle online payments.

Sometime in the future, you can also expect artificial intelligence to play a role in areas like communication, content creation, email personalization, and e-commerce.

Programmatic Advertising

At present, marketers need to bid in an auction before they can get their ads displayed higher in search engines.

For example, if a digital marketing manager at Windstream wanted to put up an ad for “Windstream high-speed” internet on Google, they would have to go through an entire bidding process, find out about keywords used by competitors and make sure their bid is higher.

It’s a complicated process that will become a lot easier with programmatic advertising. Programmatic advertising allows companies to market their products to the target audience with the help of AI.

When you make a digital ad manually, you target customers on a limited number of criteria such as their location, keyword, and the time of the day. In contrast, programmatic advertising uses hundreds of different targeting signals to reach customers.

It also speeds up the entire bidding process and ensures higher conversions and reduced cost of customer acquisition.

Visual Search Tools

People always respond better to visuals than text, and this is why moving forward, companies have started focusing on visual search tools. Pinterest Lens is one such tool. With the Lens, users can take a picture of an item they are looking for and search for it online.

The Lens provides all kinds of information, such as where they can buy that particular item. It also provides users with suggestions based on their search query.

The Lens has been a success ever since Pinterest launched its beta version. At the moment, the platform can recognize 2.5 million products. Pinterest has also regularly made updates to the tool to ensure its continued growth.

Additional features of this platform include a QR code, Lens your look, and shop the look feature.

Google has also jumped on the visual search tools bandwagon with Google Lens. Google lens uses a camera app to recognize objects and landmarks.

Using Google lens on apparel and home goods allows you to find similar products online along with details like where you can find them. If you use Google Lens on a bar code, it will tell you the price of the product.

Augmented Reality

Augmented reality can be best described as an easy to implement a version of virtual reality. Brands are especially drawn to this technology because it offers customers a more immersive experience.

ModiFace, which was acquired by L’Oréal sometime back, is a good example. With its Sephora Virtual Artist feature, customers can see how different kinds of make-up make them look.

Ikea too has incorporated augmented reality in its IKEA Place app. This app allows you to find out how IKEA furniture would look in different parts of your house. The app even allows you to change the angles of the furniture. All you need to do is take a picture of the room on your phone.

Predictive Analytics

Digital marketing is all about analytics, and with predictive analysis, marketers can use data mining and machine learning to analyze patterns and predict future performance.

Take Amazon Assistant as an example. It’s a simple Google Chrome extension that allows Amazon to predict product recommendations for users based on their data. This extension also allows Amazon to make personalized offers for customers.

Progressive Web Apps

Simply put, progressive web apps are websites that work in the same way as mobile apps. You will find all the features of mobile apps like fast load times, push notifications, and offline modes in progressive web apps. Like mobile apps, progressive web apps are not limited to just one platform.

With the rapid increase in the use of cell phones all over the world, it’s safe to say that progressive web apps will become commonplace in the next couple of years.

Blockchain

Although Blockchain technology is primarily used for financial transactions, it’s also valuable in digital marketing especially when it comes to media buying.

Every transaction in the blockchain is represented over the internet as a block. This block is broadcasted over multiple parties in a network. Once all parties confirm that the transaction is valid, the block is added to the chain.

In the world of digital marketing, blockchain technology is useful because it removes the need for intermediaries and ensures transparency in transactions. The transparency aspect can be used by businesses for branding purposes.

Blockchain technology can also be used for the protection of private data, verifying online identities, and handling social impressions.

In Conclusion

So there you have it. A glimpse at technology that will revolutionize the world of digital marketing. When it comes to digital marketing, the only thing that is constant is change. It’s a point we raised earlier and would like to reiterate, you either adapt in the digital landscape or you get left behind.

Leveraging the aforementioned technologies, you can put yourself in the position to overtake your competitors and gain a major chunk of the market.

Baldwin Jackson is a successful digital marketer with expertise in search engine optimization and content marketing. The perfect balance of his analytical ability and creative thinking is what sets him apart from other practitioners in the digital marketing realm. He has helped a lot of small and medium-sized businesses in crafting their digital marketing strategies that are not only cost-effective but delivers results as well.

Baldwin is also a proud father of two kids and a Sports enthusiast. When he is not working, you will find him watching ESPN and NFL network. He has been able to get an amazing package on his favorite channels from Buytvinternetphone.com.