In marketing, the impacts of technology are diverse. Organizations are tasked with managing more marketing options than ever before, and consumers are more integrated with marketing information than they have been in the past. Technology has impacted the field of marketing significantly, along with virtually every other discipline in business. From the organizational perspective, technology has impacted the ability to collect and organize marketing data, the channels the organization can use to reach consumers, and the process of developing different types and formats of advertising assets. Organizations have more data, more marketing formats, and more online places to communicate with consumers (i.e. social networks, blogs, search engines, YouTube videos, etc.).
From the consumer side, marketing has become increasingly integrated into everyday life. From Facebook advertising to Google paid search results, the average consumer has an increasingly personalized and data-driven exposure to ‘relevant’ ad materials. This is all not to mention the various devices and distribution formats, spanning from computer browsers to mobile to tablet distribution.
For organizations and consumers both, the most important is the way in which big data, diverse distribution opportunities, products and consumers are all combined. Identifying the ideal target market from the data, figuring out which channels this market tends to use (social networks, etc.), and which products fill their needs is a strategic necessity in the modern technological era for organizational success.
Today’s connected consumers are using smartphones, iPads, laptops - and even glasses and watches - to access content. As a result, marketing departments need to provide compelling campaigns across these different devices and become proficient in using technology. Marketers need to work closely with IT departments and technologists. They need to understand the processes behind developing websites, handling data and running social media campaigns. Marketers could develop the skills to enable them to work hand in hand with technologists while retaining their creativity, flair and intuition. This paper discusses social media marketing and some of the major marketing technology tools.
Digital Marketing industry in India is spread to almost all the business sectors. Some of the applications of E-Marketing are shopping and order tracking, online banking, payment systems and content management.
The power of digital marketing allows geophysical barriers to disappear making all consumers and businesses on earth potential customers and suppliers. It is known for its ability to allow business to communicate and form a transaction anywhere and anytime.
Digital marketing industry in India is a booming career today. In a country with a rapid growth economy, it is expected to have a very high significant growth in Digital marketing career. The growth in the digital marketing trends is making a very substantial impact on marketing and advertisement. The big picture of Digital Marketing industry in India cannot be complete if short preview of the past digital marketing statistics is not made.
In 2011, the digital marketing statistics revealed that advertising via the mobile phone and tablets was 200% lower than that of the following years. During this year, the net worth was $2 billion. The growth was in a geometric progression as it rose to $6 billion in 2012. The competitive growth demands for more improvement in the career works and professionals are being added to the field.
Today, digital marketing industry in India is growing at its peak, and is still continuous. Many factors are responsible for this growth. The use of communication tools has greatly changed in the year past. No one ever thought to have a credible deal online.
Low cost of handset is now available making it possible for India to have about 600 million internet users which ultimately creates a fascinating business opportunity to sell to a growing population.
Several factors have been found to contribute to the growth of digital marketing in India. Before now, internet usage was only meant for the wealthy. There is now a great change in the lifestyle of the middle class. It was discovered that changes in lifestyle and standard of living had increased the level of consumption, quality and also the pattern of consumption. The quality of use in the urban centers of India is on a high side. This is because majority doesn’t have time for shopping. Apart from struggles to earn money, people want some other things to be done at their own convenience.
The following survey from people indicates the size of Digital Marketing industry in India:
34% of the companies already had an integrated digital marketing strategy in 2016
72% marketers believe that traditional model of marketing is no longer sufficient and this will make the company revenue to be increased by 30% by the end of 2017
In 2017, 80% businesses will increase their digital marketing budget which may surpass the IT budget. Only the illiterates could not access the potentials of the digital marketing because of the accessibility to computing devices and computer education. The following are the channels that are playing an active role in the development of digital marketing industry in India.
1. Mobile Marketing
Digital marketing overview reveals that Social media has been playing a supporting role to marketing.
Over the years, it has been noticed that 92% of social media users are from the mobile devices. This
enables the size of digital marketing industries.
2. Email Marketing
From the digital marketing overview, it was discovered that well-targeted email marketing will be one of
the most effective ways of ensuring conversions in 2017. Email is one of the most effective methods for
digital marketing as there is a facility to disburse messages to millions of people at a time.
3. Search & SEO Marketing
As much as changes is existing in the search engines, marketers are also trying shift their ways of targeting
audience so as to meet up with the current evolution in Digital Marketing industry in India.
Apart from the above channels through which digital marketing takes place, activities under Digital
Marketing industry in India are not limited to social media, email, content, search engine, etc. Digital
marketing is either done in-house where companies might hire people for their own or clients’ digital
marketing needs. A company may outsource to specialist digital marketing agencies or given to
consultants.
A Conceptual Study on E-marketing and Its Operation on Firm's Promotion and Understanding Customer’s Response. Authored by Goodarz Javadian Dehkordi & Samin Rezvani. The purpose of this conceptual paper is to discuss four main different tools which are: mobile marketing, E-mail marketing, web marketing and marketing through social networking sites, which use to distribute E-marketing promotion and understanding their different influence on consumer’s perception. This study also highlighted mobile marketing and role of social networks and their component in term of perceptual differences and features which are important to them according to the literatures. Mobile devices and marketing through mobile recently by introducing smart phone have changed and these enhancements in technologies especially in mobile devices brings so many advantages to most of the firms. E-mail marketing according to literature is the most useful tool in internet and also the most cost effective phenomenon in electronic marketing for firm and businesses.
E-marketing authored by Ms. K. Sangeetha, in this paper talks about how an online marketer now needs to find where people are congregating online and needs to engage them in a meaningful way. Be it in matching with what they are looking for, watching how they interact or listening to their natural opinions on company. This paper states that E-marketing has emerged as one of the most innovative mediums for organizations to market services. It may be the art of identifying and understanding customer needs and creating solutions that delivers satisfaction for the customers, profits towards the producers and benefits for the stakeholders. E- Marketing today according to the literature encompasses product definition, product packaging, advertising, sales & distribution.
Social Media Marketing: Strategies & Its Impact authored by Vivek Bajpai & Mrs. Shweta Shriwas. This research paper talks about how companies can use social media marketing to make their marketing more effective and to build a stronger community. Social media helps in connecting people through social networking sites where people can stay far and yet remain connected. It highlights that Facebook today helps to create a loyal connection between product and individual which leads to large advertising opportunities. These media have a competitive edge over other popular public media like Television because there is a time gap between social event occurrence and the time it is being broadcasted. Taking advantage of these strategies can help to build a community, make marketing more effective and incentivize buying.
Challenges for marketers
1. Generating Traffic and Leads
This is a pretty broad area. The essence of this challenge is not the basic blocking and tackling associated
with driving visitors and leads but rather doing it at a pace that matches everyone else’s expectations
especially sales and executive leadership.
Most marketers start with the tactics. The problem is that website, blogging, content, emails, search, social,
paid and other tactics are not where the secret to lead generation resides. Everyone knows the tactics.
What’s preventing you from generating enough visitors and leads is the strategy behind the tactical
execution, the orchestration of those tactics and the optimization of those tactics once they’re launched.
This is why inbound marketing agencies have sprouted up like weeds. These agencies are typically
responsible for a wide variety of these tactics including strategy, orchestration and optimization.
2. Proving the ROI of Our Marketing Activities To show ROI, you must have income associated with investment, and the only place the income comes from is the new customers and revenue generated by your marketing activities. This also means you (as marketers) are going to have to start showing full-funnel tracking for the website visitors you generate. To be more specific, prospect A showed up on the home page of our website. Then went to the team page, pricing page and request a consultation page. Then completed the form on that page and transitioned into the sales-qualified lead phase of our sales funnel. A sales rep received notification and she reached out with email. This is level of insight to track prospect all the way through the entire click-to-close experience.
3. Securing Enough Budget
This is directly related to marketing’s ability to generate revenue. Once you consistently generate enough
high-quality leads and those leads convert into revenue, we should be in a better position to request more
money and protect your current budget.
The other aspect of this challenge is an ability to model results based on a level of investment. For example,
there is a direct relationship between the results and the level of investment. Yes, efficiencies are gained at
certain levels and after a certain amount of time, but marketing today requires consistent nurturing along
with a continual investment in new techniques and new technologies. The optimization required to
continually improve marketing and sales program performance also needs to be budgeted for.
4. Identifying the Right Technologies
Today’s sales and marketing technology environment is getting more complicated every day. The impact
these new tools have on the performance of sales and marketing teams is requiring marketing folks to stay
up to date on, review and trial new tools regularly.
Partners that bring technology agnostic approaches and technology expertise to the table are needed.
Their practical and client experiences with those tools will be invaluable when you’re starting to review
tools, select tools and use tools in your own marketing and sales programs.
5. Targeting Content for an International Audience
The world is a global economy, so it’s not surprising that respondents are looking at international
audiences. The way marketers can attack this challenge is to think about the cultures and experiences of
the target audiences. Referring back to the strategy conversation from the first challenge, by understanding
the individuals in each of the audience segments it becomes clearer what content they need, in what format
and how it needs to be delivered.
Converting your website for visitors from different countries who speak different languages and have
different cultural nuances is core to giving them a click-to-close experience that causes them to want to do
business with you.
Marketing tactics with best ROI
No matter what marketing avenue it is, there are three letters looming large over your entire campaign:
ROI.
How to Define ROI: It’s not always clear what constitutes ROI. Brand reputation, credibility, and visibility
are all abstract ideas, so it can be hard to translate that into a concrete dollar value.
Accounting for Time: All investments will be a combination of time and money, but some will be more of
the former, and vice versa. Comparing prospects can be difficult when they have different metrics for the
investment.
Long- Versus Short-Term: Long-term investments tend to pay-off more, but multiple short-term investments
could produce better results in the same timeframe.
Execution: An airtight strategy won’t amount to much in the hands of a novice. The success of any
marketing tactic depends on how it’s executed.
Unique Qualities: No two businesses are the same. The dynamics of your operation are going to affect
how well each strategy pays-off for you.
Conversion: There is a big difference between getting traffic and getting sales. Plus, misleading or oversold
tactics can become returns down the road.
1. Paid Ads
Paid ads are a classic method, and most business owners will tell that they offer an excellent ROI. These
can be a great way to get your name in front of a lot of potential customers in a short period of time.
However, it must account for the cost per click, which can vary substantially based on your industry. Plus,
reliance on paid ads means you’re not building genuine equity. Most marketing tactics like purchasing
property, in that you’re buying influence and recognition. With paid ads, though, you’re just renting space;
the ads turn off as soon as you stop paying. There’s no legacy or lasting value beyond what was generated
while the ads were active.
2. Content Marketing
Compared to paid ads, content marketing is a much more cost-effective strategy in terms of up-front cost.
All you need to do is start pushing out content and—BOOM—you’re engaged in content marketing. This
makes it a very effective way to establish long-term expertise in your space, and to raise your profile through
search engine optimization (SEO) practices.
This is a long game, though; it takes months for content marketing to pay-off. All that primo content you
create will be a great investment a year from now, but it’s going to take a lot of hours in front of the
computer to create, which can be difficult if you’re trying to launch a business.
3. Social Media
Social marketing has a wide range for judging up-front cost; it could cost you nothing but time, or you
could invest thousands of dollars per month into boosting your social profile. It’s also difficult to gauge its
effect, as social influence doesn’t translate into direct sales for most businesses. Sure, you can measure
engagement and site conversions, but reputation and influence are very abstract.
The most important factor is your product category. The effect of social media activity be in creating buzz
will be radically different if you’re a retailer compared to a B2B operation
4. Email Marketing
Email is described as a high-earning tactic. In fact, 67% of businesses list email as their most-effective
marketing channel. Email is a low-cost, high-yield marketing strategy; it doesn’t cost much to send out a
blast of emails and start seeing result. While you can buy email lists, this can produce inconsistent results,
and may even be counter-productive in the long run. But building out your own organic list will take time,
and can only work in conjunction with other marketing strategies like content marketing.
Some of the new high-tech stores are likely to open in Amazon’s hometown of Seattle, where the first location is based, as well as Los Angeles. It’s not clear if Amazon will open up Go stores in any other cities this year. And in Seattle, Amazon had identified at least three locations for additional Go stores as of last year.
Amazon is hoping that by making convenience store trips even faster, it will raise the bar for brick-andmortar shopping in much the same way that Amazon Prime did for online shopping and delivery. If successful, the initiative would help Amazon become even more ingrained in the daily lives of consumers and grab a greater chunk of the giant food and beverage industry that still predominantly lives inside brickand-mortar stores. There’s also been speculation that Amazon could add the Amazon Go system comprised of cameras and sensors to Whole Foods stores now that it owns the grocery chain, but that would be a huge undertaking and represent a significantly greater technology challenge.
If the company does open an Amazon Go store in Los Angeles, it would mark just the latest example of Amazon using that city as an early testing ground for new products and services. Los Angeles was the first city that Amazon expanded its Amazon Fresh grocery delivery service to after incubating it for more than five years in Seattle.
News of the planned expansion of the Amazon Go concept is sure to set off fresh concerns about the great societal challenges that come with the type of automation that Amazon is inventing. Since the Amazon Go model does not involve customers checking out, there are no cashiers working in the stores.
News of the planned expansion of the Amazon Go concept is sure to set off fresh concerns about the great societal challenges that come with the type of automation that Amazon is inventing. Since the Amazon Go model does not involve customers checking out, there are no cashiers working in the stores.
There were more than 3.5 million cashier jobs in the U.S. as of 2016, according to the Department of Labour. Though there are no cashiers, the first Amazon Go store does employ workers who prepare fresh food and meals in an exposed kitchen visible to passers-by. There is also a greeter stationed near the entrance, as well as a worker who checks customer IDs near the beer and wine selection. The experience is designed for those who do not like to stand in a checkout line. Amazon benefits by eliminating the cost of checkout personnel.
1. Shopping Process
In order for consumers to shop at an Amazon Go store, the consumer must first create an Amazon account,
have a smart phone, and download the Amazon Go app. Once these items are in place, the customer
scans their Amazon Go app, located on their smartphone, upon entering the retail store. At this point, the
customer is free to walk around the store, shop, and add and replace items to or from their virtual cart.
In order for Amazon Go to accomplish this paradigmatic shift in the operational model of retail shopping,
it relies heavily on technological innovation. The technology Amazon Go uses automatically senses when
an item is picked up, put back on the shelf, and who committed the action. Once the customer is satisfied
with the items they’ve chosen, they simply walk out the door - no lines, no checkouts, and no waiting. The
purchased items are charged to the customer’s Amazon account and a receipt is sent to the Amazon Go
app.
2. Technology Used
Amazon Go uses what they call, “Just Walk Out Technology”. This technology is responsible for keeping
track of items taken from, and in some cases, returned to, the store’s shelves. It also keeps track of the
individual’s virtual cart.
For this to be possible, Amazon uses technology similar to that of self-driving cars. The system relies heavily
on sensor fusion, computer vision, and deep learning algorithms. While they haven’t revealed too much
about their technological advancement, it appears that Amazon plans on making cameras central to their operational strategy. These cameras will track not only the products and their placement, but also the
individuals who do the shopping
Descriptive type is chosen as it best suits the industry under research. During literature review, it was identified that we need to study how emerging technologies are changing the way companies are approaching its customers. Survey type was chosen as it will help me gain more insights, about the impact of technology and digital channels on marketing in India.
Research Methodology
Collection of secondary data using research papers, publications and collection of primary data using questionnaires, etc. Analysis of collected data using both qualitative tools.
Sample size taken was 62. This study is targeted largely to MBA students of MET Institute of Management Mumbai and a few other MBA colleges in Mumbai because of their background and age diversity with a larger percentage using the internet. The study uses qualitative research methodology for analysis of the survey.
The survey was conducted with participation of 62 respondents. Participants were asked a set of 13 questions regarding the use of digital channels, impact of Amazon Go and social media in their daily routine. A structured questionnaire was used to collect the primary data from the respondents. A copy of the questionnaire is enclosed in the annexure.
Responses to each question have been quantified and represented in charts in this report, along with additional analysis and insights from secondary sources.
Top Social Media Platforms used in the age category 22-29.
There is a positive relationship between consumer behaviour and social media marketing. This implies that companies should invest more in social media marketing to increase their market share and conduct a market research on the different markets in various countries to ensure that the social media marketing initiatives being implemented suits the targeted markets to improve product purchases.
CMOs will need to have a deep enough understanding of the technology landscape to effectively advocate for the solution that will best achieve their goals. Leading marketers are looking to be more strategic about their use of technology as they focus on making data-driven decisions across channels. Social media marketing is one of the platforms for marketers essential in factors like reach and creation of brand awareness.
Amazon Go technology enables customer to take products off the shelves, put them in their carts, and leave the store without going through a checkout line. Besides the convenience to the customer, Amazon evidently plans to benefit through a reduction of checkout clerks. The cost of implementing, maintaining, and sustaining the system may offset or exceed cost-savings through reduction of checkout clerks. It is unclear as to whether the new concept will be embraced fully by Indian Consumers
Tags: MET Institute of Management , MET Institute of Mass Media
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