Category Archives: Marketing Technology

Will VR Technology Change Marketing Forever?

Virtual Reality has been a topic of discussion for years, but there has been significant progress in 2016. While there is still a lot of work to be made before it becomes an established technology, now is the best time to look at the significance of VR in business and how it will affect marketing.

 

What is VR?

 

Virtual Reality is the use of computer hardware and software to create a simulated environment. Unlike conventional user interfaces, VR immerses users and enables them to interact with 3D worlds, placing them inside the experience.

 

VR technology is becoming cheaper thanks to the increase in new developments and consumer interests. This is creating a massive demand in the marketplace as well as brands that want to try out the technology.

 

Why is VR Very Effective?

 

Those with little or no experience of VR will probably wonder what all the fuss is all about. Here’s how VR is effective:

 

1) Immersive – A more visually and engaging technology is more immersive than television, social media, and mobile devices. The immersive nature of VR creates the possibility of consumers returning to your content to check out on any details they missed the first time.

 

2) Novelty – VR is the newest technology. It is cool and is something that has never been seen before. This already creates an attraction in the marketplace.

 

3) Story-basedVirtual Reality is typically rooted in storytelling. It is so natural that when a new technology emerges, it affects how stories are shared or told. You have the formula for success if you have VR as a visual medium for storytelling.

 

How Virtual Reality Is Being Used

 

The VR technology has a huge potential in marketing. Here are some of the uses of this technology:

 

  1. a) Customer Education – Involving consumers in a certain topic is surely one of the best ways to teach them. For instance, giving consumers a behind-the-scenes look at what goes on during the production process gives them a connection to the brand.

 

  1. b) Amazing experiences – You can instantly transport your clients to any scene in the world, thanks to Virtual Reality. Marriot International recently partnered with Relevant and Framestore VR Studio to take customers on virtual tours of vacation destinations like London and Hawaii. The technique was a huge success.

 

VR technology gives marketers endless, exciting and promising advancements in the marketing industry. It is a powerful technique of revolutionizing the way marketers engage with consumers, which will create a lasting effect on many businesses.

 

 

Rapid Evolution of Marketing Technology Catches Companies Off-Guard

A good number of marketers cannot keep up with the rapid change in technology. The marketing tech area is a sector that is subject to the speeding up of advancements. A report produced by ‘Closing the Gap Between Martech Innovation and Adoption’ found that 56% of marketers think that the martech industry is evolving rapidly than their organizations’ use of marketing technology. Only 27 out of 300 marketing executives say that their companies are maintaining the pace in the industry regarding technology adoption.

 

In its second year of the report, the ‘State of Marketing Technology’ study showed that companies had made significant progress regarding the adoption of marketing tech. Despite the fact that a third of marketers say that their companies’ martech adoption is evolving quickly, 72% provided a similar comment on the martech landscape. This shows the presence of a gap in martech adoption by companies and the rapidly evolving marketing technology. However, this gap is narrowing since 48% of companies have transformed to become early adopters and innovators in marketing tech as compared to last year’s 20%.

 

Meanwhile, 70% of marketers expect their martech budgets to increase in the coming year while 2% expect a decrease. Research also shows that seven out of 10 marketers believe that their organizations invest the right amount of funds in martech. Those who feel that their company’s martech assists them to perform their duties more effectively has risen from 58% last year to 69% this year.

 

Over the years, marketers have been frustrated at their organizations’ slow adoption of marketing technology. This seems to be changing, and marketers are becoming more positive about innovation within their companies.