Augmented Reality and the Internet of Things are among the defining forces of the future.
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When the Internet became commercial in the early 1990s, few predicted how it would completely revise the marketing industry over the next two decades. Ingenious search engines, which navigate on a multitude of emerging websites, as well as the first online ads and search ads marked a drastic change in marketing dynamics, since the active search behavior of the individual made a much more relevant and efficient ad delivery possible.
The advent of social media was an equally revolutionary milestone in which comprehensive data on user demographics, preferences and interests offered marketing professionals unprecedented targeting options. The innovation of advertising is the basis on which changing global technology giants like Google or Facebook are based. They have enabled them to use a large portion of all advertising spending and generate revenue that exceeds the entire GDP of entire countries.
Similarly, companies that manage to formulate the most scalable marketing ecosystems for the next wave of society-changing technologies that better connect commercial with consumer intent will experience astronomical growth and will most likely become corporate superpowers – or further consolidate their dominance ,
Early adopters who use these novel tools and unsaturated channels will gain significant competitive advantages, and new companies and agencies will emerge to build their own tools or business models to complement the most effective future marketing technologies.
Related topics: Marketing technology in the digital age
Big data, AI and quantum computing
Why do these three keywords seem to have been thrown together? As their development is highly interdependent, together they will support most of the major technological advances. The synergy of AI and big data is already deeply rooted in the central marketing activities of large and small digital companies: Recommendation engines account for a whopping 35 percent of Amazon's total sales. The multi-channel sentiment analysis provides information about the brand strategies of companies like Samsung. And every smaller e-commerce retailer can already use the effectiveness of chatbots.
AI thrives In the mountains of information that fuel the company's continuous learning mechanisms and once were used by the incredible processing speeds of quantum computers to open up more and more big data sources, unique insights can be gained, a multitude of tasks automated and even taken on Human decision-making aspects will increase exponentially.
IBM, D-Wave and Microsoft are all investing heavily in quantum computing, and Google has already developed a model for quantum neural networks to build the first stable and commercially usable quantum computer, a force of (artificial) nature, that would make it possible The concept of an almost endless number of potential AI-based applications, some of which we have not even imagined.
It can be assumed that the first commercial applications emerging from current research serve the core functions of the companies that are at the forefront of their development. As a result, all pillars of online marketing – SEO, digital advertising, price matching, etc. – will experience massive disruption as they become more efficient and autonomous.
It also means that many jobs will be out of date. Various customer-specific services that are provided by agencies, especially in the area of data analysis, are inevitably standardized by corresponding AI tools. Cannibalization will even affect the more creative marketing segments, since algorithms already exist that autonomously generate personalized assets, copies and content.
The leap in technology, driven by the evolution of the sacred technological trinity of big data, AI and quantum computing, is opening up a treasure chest to online marketers with unprecedented opportunities to reach and monetize customers, and improve the current digital marketing ecosystem market. Likewise, those who cannot adapt will be out of date with progress.
Internet of things
Our smartphones, laptops and some commercial machines and sensors now make up the majority of the current gateways to the Internet. However, this is changing rapidly as the physical and digital realms are increasingly (and in some ways frighteningly) converging. An estimated 41.6 billion devices for the Internet of Things (IoT) will generate 79.4 zettabytes of data by 2025. a truly astronomical figure full of potential.
Beacon technology, 5G, sophisticated sensors, self-driving cars, intelligent wearables and intelligent houses mark the beginning of a world in which almost everything that runs on electricity can be connected to one another and to the all-encompassing web. Achieve marketing and engagement opportunities for marketers.
Almost 100 percent CTRs will no longer be an impossibility, with companies and agencies striving for hyper-relevance and aiming to eliminate the annoying commercial based on demographic and behavioral data from a few devices. Refrigerators, vending machines, sales displays, even plates; Each “thing” can serve as a point of contact to guide the consumer in a much richer, more assignable, and predictable way to spread the right sales message at the right time.
In order to fully exploit the potential, marketers must face the monumental technical challenge of implementing holistic platforms with multiple devices that can record and manage all of these incredibly different and intertwined gadgets and the data associated with them. This will undoubtedly spawn many new entrants who are committed to delivering solutions to a new, interconnected cosmos.
Voice and virtual assistants
A promising AI child uses one of the oldest forms of human interaction: the voice. Alexa, Siri, or Google Assistant are slowly transforming into a ubiquitous and seamless user interface that changes the way we find information, consume media, and buy things.
With 61 million people using a digital assistant in the United States alone and 20 percent of all mobile searches already done orally, the value of including voice searches in future marketing strategies is clear. In addition, Google's plans to integrate voice query data into the search console and introduce Google Actions, a software with which the Google Assistant can interact with the content of a website, and the consideration of virtual assistants are no longer advisable but a must.
Companies are already benefiting from voice search optimization and are seeing significant increases in their click and conversion rates due to greater relevance and less competition on voice search results pages. Measures such as listing localized companies in the data aggregators preferred by the assistant or optimizing the semantics – with a stronger focus on conversation-related questions – are already part of the standard repertoire of forward-looking SEO tools and agencies.
However, the new frontier uncovered by virtual assistants is beyond search. The cross-app integration and deeper access to big data are the first steps to turn them from pure search engines into predictors of user requirements, which are able to autonomously run targeted ads and carry out transactions on their behalf. In this light, it becomes apparent that the growing number of IoT devices is the perfect ecosystem for connecting virtual assistants. The integration of Alexa into newer BMW automobiles and various Bosch household appliances is an example of a future in which VAs will serve as a convergence point for cross-device data on user behavior and preferences and as an agent to place hyper-relevant ads on the right.
Currently, marketing professionals should recognize the importance of voice search in search engine optimization. As soon as the Internet of Things becomes ubiquitous, a completely new world will open up in the future, in which marketers can find completely new ways to reach consumers. You can leverage stronger emotional connections made possible by language and unlock huge reserves of big data.
Related: 4 main marketing trends for 2020 and beyond
A scene from the Netflix series Modified carbon shows what an expanded / realistic urban landscape could look like: the main character walks through the alleys of a futuristic city and sees through high-tech contact lenses a variety of eye-catching holograms, which mostly advertise dubious amenities. In 2019, the overlay of augmented reality with such lenses still belongs to the area of science fiction films (for the time being). Instead, smartphones are still the marketer's AR gateway for consumers and are becoming more and more effective.
Significant increases in sales can be recorded, particularly in various e-commerce niches, since online shoppers have been reluctant to display the products more comfortably from their homes using their smartphones. For example, the IKEA Place app developed with Apple's ARKit can be used to virtually preview thousands of pieces of furniture in a room, which increases the likelihood of purchase by 11 times. It is quite possible that in some industries the offer of visualizations for "trying out" products before the sale will change from a mere added value gimmick to a standard expectation of consumers.
AR will also play an important role in improving the shopping experience in retail stores. More attractive shop displays, such as Zara's virtual catwalk, which replaced the mannequins in one of his stores, enable brands to create stronger emotional connections through interaction. Walmart has expanded its mobile app with an AR scanner, with which the product-conscious customer can easily call up the reviews or additional information of an article.
Most interesting for online marketing agencies, however, is the emergence of AR ads on social media platforms. Earlier this year, Snap Inc. opened programmatic auctions for AR lenses to the general public. With the launch of the complementary Lens Studio, agencies can offer customers an additional format that is more compelling than videos. Facebook also tested AR ads in its news feeds and messenger, which led companies such as WakeMeUp, which had customers try on new shades of makeup, to record a 27.6 percent increase in sales.
With technical giants giving audiences the ability to engage with the real world every day via AR, it won't be long before nearby stores and facilities present themselves on these overlaid screens that are effectively positioned between physical billboards or signs and signs Google Maps entries.
Given that AR interaction is particularly attractive to younger populations and that the number of mobile AR devices could exceed 2.5 billion by 2023, it is no wonder that AR ads will be out of the realm over the next decade Early adopters are shifted to the mainstream.