The 21st century has seen some of the quickest technological developments in human history. When one looks at how developments like the internet, cell phones and now fledgling technologies like artificial intelligence and virtual reality have advanced since the turn of the millennium, the human race has advanced by comparative light years in a span of 22 short years. With those rapid advances comes a need for prospective business owners to roll with the punches faster than ever before: take a look at credit card technology in the past half decade. Five years ago, mag stripe credit card technology was on its way out in favor of the increased security of chip cards. Fast forward to now, and chip cards are all but obsolete, with tap to pay and payment by phone the law of the land. Here’s a look at how new businesses are adapting their marketing strategies to stay afloat (and get ahead) in the digital age.
Perhaps the most notorious example of how marketing strategies have evolved in recent years comes from the omnipresence of cell phones and other internet connected devices in everyday life. Anyone who has the slightest semblance of an online presence is almost certain to receive a bombardment of personalized ads whenever they go online as social media platforms, search engines and other apps sell users data and online preferences to marketing companies, making it easier than ever to target users with personalized ads.
Take a look at online casinos, for instance, which are sweeping the world as more and more people leap at the idea of betting (whether traditional casino games or on sports) from the comfort of their own homes. Those apps are able to customize experiences for users, offering promotions based on a specific team that a user shows an affinity for or adding bonus bets ahead of big events like the Super Bowl or the Stanley Cup. This intensely personal form of advertising allows a marriage of customer service with cunning marketing techniques, helping the industry to grow like never before. The primary objective of the Ontario online casino apps and comparable services is to employ strategies that build a long term relationship with customers: not just a single sale. They’re killing two birds with one stone, helping customers to feel valued and have them keep coming back.
Continuing on the point of advertising, new businesses are able to plug their products with greater success rates thanks to personalized marketing campaigns. Think of the number of advertisements one receives through traditional communication mediums like radio and television. Businesses can choose their target audiences to some degree based on overarching market trends (marketing products like beer and steakhouses to sports fans by purchasing advertising slots during game broadcasts, or marketing children’s toys during a Nickelodeon broadcast, for instance). While it’s better than the deluge of something like political advertisements, all but unavoidable during election season, it’s still an inexact science, throwing thousands (if not millions) of dollars at an ad campaign and hoping something sticks.
The ability to personalize ads saves businesses money and time. Rather than having to take out a page in the classified section of the newspaper, hoping against hope that people will flip through the pages instead of throwing the section out without a thought, businesses are able to get their feet wet with a captive audience already there.
Speaking for myself, I typically don’t pay any attention to advertisements on television or the radio. I love to travel, though, and when I’m browsing the web and receiving personalized ads that tout new places to visit, it’s much easier for me to get pulled in to making a purchase. Search engines like Google match ads to customers based on already existing data, so businesses don’t even have to do the hard part of the work in finding the right customers.