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How technology is changing market?
25Jan

How technology is changing market?

By Admin Generic Topic

Technology has become one of the most influential factors of growth in all industries. Everything is digital and data drives businesses to success. Thanks to the latest technologies such as artificial intelligence, personalization, digital marketing etc, businesses happen on the go. Time is a precious commodity and people are finding it difficult to manage their daily chores in 24 hours! Work-life balance has become a luxury and that’s where such technologies make life a little more convenient for everyone. Ultra-fast internet, hand-held smart devices and intelligent technologies are creating a virtual world which is fast evolving on its own. A world where machines are learning human languages and are able to solve the problems on their own definitely poses a lot more challenge to humans. Here are some of the major technologies that have recently evolved and are fast progressing that are changing the market:

 

Search Engines

 

If you notice, of late, all websites are considering SEO or Search Engine Optimization. This is because the search engines such as Google, Yahoo and Bing have become recommendation engines for people who seek serious information. Every business online is competing to be visible in the first few pages of the Search Engine Result Pages or SERPs.

 

Social Media Networks

 

Social media networks have become a major influence these days. People turn to social media for customer reviews, recommendations and a lot more information on specific brands. Social media is being used by the brand to communicate effectively and to engage the customer. It serves as an efficient medium that connects the consumer, market and the brand.

 

Digital Marketing

 

Top Digital Marketing Company Cochin

 

The marketing world and businesses have immensely benefitted from digital marketing technologies. After years of working on marketing campaigns that were more or less based on assumptions apart from some quantitative market figures, digital marketing gave an opportunity to actually target clients and markets purely based on solid information. Digital marketing is cost-effective, scalable, measurable and profitable. SEO, paid searches, sponsored advertisements, Customer reviews, PPC, Social Media Marketing, digital campaigns etc are different channels adopted by digital marketers to increase brand recognition, customer engagement and leads.

 

Artificial Intelligence

 

AI or Artificial Intelligence now has a huge influence on customer engagement, lead generation and user experience. One of the most commonly seen AI tool is the chatbot that engages the leads who come looking for information on your website. AI can change the way your website looks and responds to your leads. AI can help you broadcast the right message to the right audience without human intervention. Technology will collect information from the users and social media, analyze it, and deploy the most beneficial campaign to suit one set of audience. Since it is all based on information, it is more likely to succeed. AI will also gauge the response and rework on the strategy from time to time.

 

Personalization

 

Website personalization has made a huge impact on how customer-friendly your brand is. Providing a personalized shopping cart experience or user experience to leads can help you convert them into loyal customers. Personalization and recommendations have proven to increase conversion rates in ecommerce websites. It saves the customer’s time and makes shopping more convenient.

 

Machine Learning

 

Top Web design & Web development company Cochin

 

Machine learning may seem too technical to be discussed in market. But machine learning is leading many popular marketing technologies such as chatbots, personalization, SEO etc. Machine learning has opened up another dimension of information to marketing professionals – the human language! With voice searches and voice-enabled assistants like Alexa and Siri getting popular among customers, human voice messages are increasingly being analyzed using ML to understand their usage and behaviour better. Personalization takes another dimension when technology is able to comprehend human behaviour and adjust the tactics accordingly.

 

Augmented Reality

 

Ever played simulation games? Ever attended a virtual classroom? That’s Augmented Reality in simple terms! Whether we realize it or not, AR is increasingly being used by many people without even them realizing it. AR takes Artificial Intelligence and Machine Learning to another level by offering a unique virtual experience to the end-users. AR has significant applications in the medical and educational fields. It opens immense possibilities to students and patients who are at remote places to take advantage of the technology and benefit from it.

 

In effect, technology has created a vast difference in the world. We can summarize the advantages of the above-mentioned technologies in the modern world as below:

 

  • Distances reduced
  • Communication enhanced
  • Data and purpose driven market
  • Personalized services
  • Small entrepreneurs can also reach global
  • Marketing is affordable and measurable
  • Customers are Empowered
  • Quality matters
  • Online campaigns that also impact offline

 

 

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