Technology and Business Marketing Today!

Gone are the days when marketing was limited to a few grandiose ideas thrown together by the top management after which pushed to junior marketers to execute on sheer grit and long hours of extensive work done without the help of technology.

Cut into the current day and age and you can see technology making a formidable inroad into marketing and changing the way marketers think. Technology has also increased the number of media touch points with the customers. Here are a few glances of how technology has changed marketing.

More juice from online marketing

With the advent of information superhighway, marketers get access to a considerable amount of resources considering they also have to cope with servicing customers on this platform as well. Public relations have gone online and twitter is the new CNN and Facebook is the new search engine. With such sweeping changes in user behavior, marketers can only make it easy for themselves by harnessing all these technological changes rather than shunning it.

Creative is as creative does

Consumers are more exposed to technologically modified creative solutions combined with the increasing advancement made in design technology. 3D is no longer a subject of fantasy flicks or a difficult practice but becoming major part of main stream design. As a result, simplistic graphics and overall design might backfire unless you have a specific strategy behind it. The positive point of recent enhancements in design culture is that it has changed the way in which creative folks ideate…the tough part is that advancements in virtual reality environments such as Second Life makes business marketing a bit more complicated than it is.

Change in the lingo

Technical advancements of recent years have had a direct impact on marketing lingo as well. Online marketing has added terms like Performance Marketing, Pay Per Click (PPC), Cost Per Thousand (CPM), Click Through Rate (CTR), DSP, SSP, SEO and so on which forces the traditional marketers to catch up or be left out. These new areas have also brought in a significant change in how business marketers are perceived by clients and colleagues.

The change in the marketing mix is slow but important

Marketing plans now include online channels almost by default. Few and far between plans are likely to have no mention of the online marketing and social media. In fact business marketing on social media and digital marketing are now being handled by specialized digital agencies that might be catering to specific niches for example digital marketing for consumer good, digital marketing for food & beverage and so on. With the current rate of technological advancements, one might predict that in the near future, most of the marketing budgets will be focus on online activities than any other channels of media.

Availability

Availability of more user data has been made possible with the rise of technology implementation for business marketing. Years ago, most of the marketing intelligence was based on guess work and experience of marketing directors or following strategies of larger companies that spend some of their budget on basic methods of market intelligence gathering. With the advancements of online analytics and many other methods of online user behavior monitoring, today marketers can actually provide accurate user data that help influence business marketing decisions and allocate precise budget for each channel they use.

Technology for business marketing thrives on innovation

In the past, marketing was an activity used only by larger companies that were able to provide the budget for such activities. Today, smaller businesses have been able to crack the marketing code with innovative technology and that is what makes use of technology an essential factor in all marketing activities for small businesses. As a result of technological integration, we see smaller start up companies are achieving sales goal of unrealistic dollar amounts that they had never dreamed of.

In today’s business environment, marketers are working hand in hand with technology and their involvement is likely to grow in the near future. Technology in business marketing is here to stay and the sooner marketers get on with new and exciting ideas the faster they will achieve their goals of providing quality service to their clients.

New Technologies Help Businesses Increase Profits

New technologies play a central role in modern business operations. Businesses using the newest technologies are generally more productive and efficient than their competitors. If you are interested in increasing your company’s productivity while decreasing its costs, you should review the various ways in which new technologies can benefit your business.

Technologies such as fax machines, telephones, and computers have all played an integral role in defining the modern business world. For instance, fax machines give companies the ability to complete transactions with customers and enter into contracts with other companies remotely. This capability helps businesses expand their operations beyond the limitations of their physical operations.

Telephones have also given companies the ability to transform the way they operate. Telephones give businesses the ability to communicate with employees and customers from around the world to provide better support and customer service. Telephones help companies remain informed concerning important aspects of their operations and this access to information helps them save money while increasing their productivity.

Computers have performed a similar function in the business world. Computers allow for modern enterprises to remain informed concerning global events as they unfold in real-time. Computers also permit companies to increase their productivity by helping them handle documents and important data more effectively.

Even today, new products are being released that are transforming the way businesses operate. VoIP technologies have given companies the ability to communicate with anyone in the world for a very low cost. By communicating through their Internet connections, companies can now communicate with employees and customers freely without worrying about the exorbitant costs commonly associated with international calls.

This technology seamlessly integrates with existing Internet connections too. Even small enterprises regularly enter global markets due to the substantially lower costs of communicating through existing Internet connections. Many services are now available allowing for calls to be made at a fraction of the cost of traditional phone calls.

Other advanced technologies include fax to e-mail services. Corporations can now instantly receive the faxes they are sent and store them in digital databases. Services that convert faxes to digital documents make it easier for organizations to handle their important documents.

Modern businesses obtain a competitive advantage by utilizing the best technologies. Enterprises using the most advanced technologies can greatly increase their productivity and efficiency to make their operations more profitable overall. Once your company is utilizing the most advanced technologies, you will be able to communicate with employees and customers with greater ease while also substantially reducing the costs of your communications.

Impact of Technology on Business

Together with the advancement of science and technology, technological innovations grew along with it, resulting to the emergence of new equipment and gadgets. No matter how big or small your company is, technology brings both intangible and tangible benefits to become cost efficient and to meet the growing demands and needs of customers. Technological innovations affect corporate efficiency, culture and relationship among employees, clients, suppliers and customers. The type and quality of technology used affect the security of confidential business information.

Due to the burden brought by administrative tasks, like inventory, bookkeeping and records keeping, both big and small companies rely on computers to do their administrative works. The birth of Internet and online social networking sites tremendously decreased the costs of business operations. It also makes it easier for companies to use the Six Sigma management methodologies. Some firms shifted to outsourcing instead of hiring their own personnel due to the low costs associated with it. Because of the huge impact of technological innovations to companies, it is impossible for them to live with it.

Commonly used high technology equipment:

  • Computers
  • Photocopier
  • Telephone
  • Computer printer
  • Internet
  • Paper shredder
  • Multimedia projector
  • Touch screen monitors
  • Computer mouse
  • Laptop computers

Advantages of Technology to Business:

  • Customer Relations. Technology affects the way companies communicate and establish relations with their clients. In a fast moving and business environment, it is vital for them to interact with clients regularly and quickly to gain their trust and to obtain customer loyalty. With the use of Internet and online social networks, firms interact with consumers and answer all their queries about the product. Establishing effective communication with customers not only creates rapport with them, but it also creates strong public image. It allows business enterprises to reduce and to cut carbon dioxide emissions.
  • Business Operations. With the use of technological innovations, business owners and entrepreneur understand their cash flow better, how to manage their storage costs well and enables you to save time and money.
  • Corporate Culture. Technology lets employees communicate and interact with other employees in other countries. It establishes clique and prevents social tensions from arising.
  • Security. Modern security equipment enables companies to protect their financial data, confidential business information and decisions.
  • Research Opportunities. It provides a venue to conduct studies to keep themselves ahead of competitors. It allows companies to virtually travel into unknown markets.
  • Corporate Reports. With technology, business enterprises communicate effectively with their branch offices to deliver quality financial and operational reports.
  • Industrial Productivity. Through the use of business software programs or software packages, it automated traditional manufacturing process, reduces labor costs and enhances manufacturing productivity. It enables companies to increase efficiency and production output.
  • Business mobility. Technological innovations improved companies’ sales, services, shorted lead time on receiving and delivering goods and services. Enables them to penetrate multiple markets at least costs.
  • Research capacity. It enables them to conduct studies on various companies to gain knowledge on the new trends in the market and way on avoiding them.