New York Times bestselling author and Founder and CEO of Genius Group, Roger James Hamilton, talks through which marketing strategies you should be implementing to align with the ever-growing technology-driven age.
The speed of technological transformation right now is unprecedented. We know that many entrepreneurs are struggling to keep up with the changes and the sheer number of advancements. What worked as recently as October 2021 is already out of date. Customers’ shopping habits change constantly and previous algorithms for the marketing of products no longer create the same impact or reach.
AI, Ads, 1-1 Customer Journeys, Chatbots and Podcasts are all new strategies that business owners h in order to run launches using the latest marketing tech. These strategies and tools are deliberately crafted to help scale your business, no matter how the economy is doing.
When a customer comes across your website or advert, it is important that you design a pathway that you will take them on from that point. This is a fundamental part of the marketing process and technology can be used to help identify where people are dropping off or any pain points along the way.
Artificial Intelligence (AI)
When you open Netflix today or Amazon you expect recommendations, generated by AI, for personalised products and services and without those recommendations consumers may lose interest and not order as much as they may have done. This process is what we refer to as backwards facing AI, meaning it suggests based on what the customer has already done. With platforms such as GeniusU, they work on a system that is forward facing, so the system will make recommendations based on each customer’s profile or who they are.
When using marketing emails to drive business, automated personalised emails are brilliant to make the customer feel valued and appreciated. Utilising AI to send these emails, based on a trigger point, makes customer touch-points happen more often yet reduces the need for large marketing teams and also limits the opportunity for human error.
Predictive analytics takes this a step further by utilising AI and machine learning to understand text, in images and videos, to help curate content specific to the consumer. This is already being done by Facebook on a project called Rosetta but we will see this being introduced more widely in the near future.
You don’t need to be an AI genius to make use of this technology – you just need to partner with the right AI-driven platform.
In the digital age data is king and with clever use of analytics driven by algorithms and machine learning, customers can be targeted by demographic, location, age, gender, and more. This data helps the business reach the consumer at the golden moment of the right person in the right place at the right time.
Utilising data is nothing new in marketing but, by implementing it alongside AI, marketers can start predicting and making noise about topics they think will resonate with their audience and gain more followers.
For existing customers, data combined with AI can go on to make predictions and recommendations about future purchases, leading to improved engagement and increased sales. Convenience is key in the digital age, so understanding and promoting a product or a service to a customer before they even realise they need it is simply a genius move!
In the age of instant gratification, businesses will lose out on sales if they don’t have answers to questions at the touch of a button. AI chatbots are brilliant at offering round-the-clock customer service and are a cost-effective solution. They can help guide customers through the ordering process, suggest relevant add-ons and services, help with FAQs and escalate any issues they can’t deal with to a manager or customer services agent who can assist further and ensure the customer is left feeling valued.
Forward-thinking businesses are looking to the metaverse to create a virtual space where customers can have an avatar that is built on their actual customer profile. This is important for the future as we will see the metaverse become a key marketing tool.
The Metaverse can also be used to create an avatar of the face of your business or product which can then, like a chatbot, offer insight, key information, tutorials, demonstrations, and more. Virtual stores and products will help create this digital replica of your business and, by being forward-thinking and exploring these methods now, companies can be ahead of the curve and create hype around their brand.
The Marketing Ecosystem
The future of marketing will be through collaboration with others who offer the technology to enable smaller businesses to piggyback on their systems and utilise them for their own business.
This works on a large scale with businesses and entrepreneurs working with tech leaders, but it can also be implemented on a micro-level – between businesses who can partner up to share their customer base, recommend partner products and upsell complementary services. The future of marketing should be about collaboration rather than competition.
Marketing is all about knowing your customer and driving them along the correct pathway to purchase and that has never been easier than with the range of technological tools now available. Utilising these tools is easy with the right partnerships and platforms. Do your research, find the right platform with a user-friendly dashboard and get your marketing messages out there. You will be surprised at what a difference to sales this can make.