The Role of Technology in Modern Marketing

An incisive move for marketers

Technology has tapped and shaped every aspect of our lives. Over the years, we have seen a visible and profound change in marketing and all the credit goes to technology. With the help of social media and digital platforms, businesses can interact or reach a larger audience to promote their products and generate more sales. A report has revealed that 24% of the marketers around the world believe that the success of their business hinges upon social media platforms. Data analysis and tracking has become way easier than before and understanding consumer behavior is also not onerous. With all this information at hand, companies can come up with more effective marketing campaigns and make improvements in their existing products and promotional techniques. This creates a stronger relationship between the company and its customers.

Reaching new heights

With the growing intervention of technology, business operations have become smoother and efficient and companies are able to devise better customer service strategies. They can provide a personalized experience to their customers, know about their preferences and can even track the progress they themselves have made. A number of marketing tasks have become automated which were previously time taking and needed human involvement. This is boosting the overall performance of the companies and is also enhancing their efficiency. For instance, companies can send automated emails to their customers to give updates about the launch of a new product or service. Similarly, for formulating and decision making, marketers rely on artificial intelligence technology. One interesting thing is the search engine optimization used to improve the ranking and website traffic.  With this, you can promote your products to potential customers which can lead to greater reach. Another advantage of technology is that it has allowed customers to closely engage with the brand. Providing them support, timely dealing with their issues through emails or messages and getting their feedback are some touchpoints that lead to customer loyalty and satisfaction. Since marketing teams can work from anywhere, connecting with customers is not a problem. Customers, on the other hand, are increasingly relying on AI powered chatbots, voice assistants and videos so marketers have to develop their strategies keeping in view their customers’ needs and wants.

Wrapping up

Technology is assisting marketers but it has also posed great challenges for them. In order to meet the needs of their tech savvy customers they have to spend a lot on updating their outdated technologies and training their staff.

Steps that are Important for Product Development

Most of the consumers are unaware of how grueling, time consuming and complex is the process of product development. They must know that it is not a facile process, meeting the deadlines and budget constraints is always the main concern of managers. So, they urge their teams to spend money and use resources wisely. Unlike product manufacturing where all the tasks are repetitive, in product development each project is unique and it starts from ideation to final launch of the product in the market. In this article, we will shed light on the stages involved in the process of product development and how it finally reaches the end consumer.

There is always a room for improvement

1. Idea generation

This is the brainstorming stage. Companies have to come up with a lot of ideas before introducing a new product and they ultimately go for the one which is best. They have to carry out research by analyzing the market trends and see what their target market or customers are looking for in a product so that they can provide them a solution for the issue they might be facing while using the current product. 

Internal idea generation: By holding meetings, you can get high quality ideas from the members of your organizations i.e. customer support or sales team etc.

External idea generation: For the sake of new ideas you can refer to sources outside your company such as competitors or users. You can get feedback from the customers who are using the existing product through surveys or interviews and later fill in the gaps while designing the new product. Similarly, analyzing your competitors’ strategies can help you to come up with amazing ideas and deliver value to your customers.

2. Idea Screening

 At this stage, you filter out the ideas which seem worth pursuing or might prove successful. A number of factors are included here, including profitability, technical and market feasibility, utility, the risks linked with the launch of that product etc. Based on all this, you select the best idea and discard the other ones.

3. Concept development and testing

Product concept is the detailed and comprehensive description of your product including the target market for it, the price you will set, promotional techniques that you will use, how it will appeal or be beneficial for customers, what new features it will offer etc. Once this is done, you can test your concept on a cluster of your customers for the sake of validation or to see whether your idea will be successful or not. This will save your resources and time.

4. Market Strategy

In this stage you dig deeper and work upon your marketing mix, value proposition, market share, budget, profit in the long run, and the details of your target audience including demographics. 

5. Business potential

Another important step is to check the effectiveness of the product that you want to launch. You can conduct market surveys or see how successful the competitor has been in selling a homogeneous product. Companies can predict their cost and profits through a sales forecast.

6. Product development

Product development is the stage in which you head towards developing your full-fledged and final product. You have to spend a lot on research and development in order to produce multiple versions of your product for testing. This prototype gives you a clear picture of what the customer really wants in your product.

7. Market Testing

The testing phase can take months. Marketers carry out the initial test before the final launch of their product in a realistic setting i.e. a mall or a supermarket. This gives them an idea of what step they must take next.

8. Commercialization

Based on all the previous factors, you make a pragmatic decision whether or not to officially launch the product in the market.

Keep a note that product development processes and strategies should always be customer focused and there should be no compromise on quality of product.

 

The Rise of Green Marketing

Saving the planet

Human activities have caused irreparable damage to the earth and we ourselves have witnessed some repercussions in the form of pollution, deforestation, or smog. However, there has been a positive side to this destructiveness too, people are shifting towards environmentally safer options when buying and selling products and services. This has enhanced the credibility of businesses, allowing them to target environmentally conscious consumers and penetrate into new markets while also segregating themselves from their competitors.

The Benefits

Ecological awareness has encouraged companies to introduce products that are sustainable. This will also unburden nature from the hazardous impact of waste materials. In a highly competitive environment, green marketing helps you to gain customer trust and loyalty. Not just this, such practices reduce the exploitation of natural resources and result in lesser carbon emission. Companies innovate in order to attract their customers and strive to make recyclable products. This allows them to achieve growth in the long term and ultimately generates more revenue.

Strategies for Green Marketing

Now let’s see what strategies businesses can use in order to save the planet and win the hearts of their customers.

1. Focus on Sustainable Design: All the stages involved in the product making should be seen from an environmental perspective. It’s not just superficially about the recycling symbol on your product. Control the amount of waste that is produced and pay attention to the material sources, product packaging and the way it is delivered. For example, plastic shopping bags and bottles are very harmful since they contain toxic pollutants and their decomposition takes many years. So, it’s not the best option for packing your products.

2. Green Pricing: When products are designed in a sustainable way or with the view that it is safe for the environment, the cost is usually high and so are the prices for products. As long as it’s environmentally friendly and delivers high value, customers are willing to pay a little extra too. However, companies have to make sure that their product is worth the price their customers pay and quality is also up to mark. Otherwise, they might lose some of their loyal customers.

3. Being Responsible: Sticking to the "Go Green" strategy means that you must be concerned about your actions and processes and how much they contribute to environmental pollution. Through a positive change, show your target audience and customers that your priority is to protect the earth from further damage. Social and environmental responsibility is thus vital.

4. Sustainable Product Packaging: While designing the green packaging of your product, the materials that you use really matters. For example, cloth bags are a good alternative for carrying bulky groceries or paper bags for light weight products (these are even recyclable). Cardboard packaging instead of plastic is a smarter option as consumers have become more conscious of the detrimental effects of plastic which has littered the earth and has been found in billion tons since the mid 1900's.

Green marketing seems a pragmatic initiative which will be lucrative for the marketers. It will benefit the present and future generations, our surrounding and all the living organisms on the whole.

 

Soft Skills that Tech Professionals must have

A successful tech career requires hard skills. Many technical positions require specialized technical knowledge and skills to carry out essential job duties. We cannot undervalue the influence of soft skills, though. You can navigate many aspects of life with the aid of soft skills, including careers in any sector. Particularly in the tech sector, soft skills can distinguish a qualified job candidate who can grow into a leader or an important team member. These "people skills" are the ethereal traits that distinguish professionals as effective communicators and team players in the workplace. Now let’s head towards the soft skills.

1.      Communication & collaboration skills

Technology cannot exist in a vacuum, and it is more enjoyable to develop technology in collaboration with others or as a team. If you are working to create something on your own, scaling it will be a difficult task. You can work remotely as part of a larger team that is all working to create something, rather than always having to do so in an office or hub. There are two major keys to communication, one is to explain how and why and the other is to know your audience. It is important to be able to explain how something works, but you also need to be able to explain why, translate a person’s needs and explain why they need a certain result.  The proficiency to adjust your tone and understanding based on who you are talking to is an outstanding soft skill, especially when explaining something technical to people unfamiliar with specific technology.

2.      Time management Skills

Time management capabilities can have an impact on the rest of the team. When a team is working on a project, if one person misses a deadline, the project could quickly become unmanageable. Because one person couldn't effectively manage their time, the entire team might be subject to consequences from upper management. Given that IT is responsible for a number of interconnected systems with many moving parts that require maintenance, time management is crucial. It's crucial to establish a maintenance schedule and then determine the downtime for tasks that don't fall under the regular schedule.

3.      Networking skills

On many points, networking is necessary. According to business coach and consultant Connelly Hayward, one advantage of having a strong professional network is that it serves as a resource for overcoming obstacles and finding solutions to issues. Insights and solutions become more likely when we have people to talk to, according to Hayward. "We don't just improve our own thinking; we also get the best ideas from others. When ideas, thoughts, challenges, problems, and solutions are openly and freely discussed, great thinking occurs. A strong social network of people we feel at ease with lowers the barriers to natural conversation.

4.      Empathy

Building technology is all about finding explanations to problems, but you can't find a solution unless you understand the user's suffering. The worst products, according to Christopher McCann, CEO of AI-enabled healthcare provider Current Health, are those where it's obvious that designers and engineers don't really understand users or their daily lives. To solve a problem, you must be able to relate to your user and comprehend their issue.

5.      Critical Thinking skills

Employers seek candidates who can think quickly on their feet. They want to know that you can make decisions regardless of the circumstances. You can evaluate a problem and then propose a workable solution when you have critical thinking abilities. In all types of industries and job titles, critical thinking is essential. Additionally, critical thinkers are very flexible. You don't have a fixed mindset; rather, you're open to accepting solutions that might be unconventional.

6.      Being Proactive

The technology sector undergoes rapid change, with modifications to tools and best practices appearing to take place overnight. Tech professionals can find the best ways to incorporate new products and solutions by using critical thinking skills, but being proactive can help you identify business tech trends. Proactive critical thinking enables tech professionals to identify market trends, propose workflow modifications, and carry out changes as required.

7.      Self-Awareness

All other soft skills are supported by a general sense of self-awareness. Not everyone could be a master networker, time manager, or communicator. However, developing self-awareness will enable you to recognize the crucial abilities you lack and work on developing them. The key to a better career is knowing where to focus your time. Additionally, it aids in proving to management during review cycles that you are genuinely committed to your own development.

By adhering to the above-mentioned soft skills, a healthy workplace can be created which will benefit both the employees and the company.

 

How to improve your brand awareness?

A strong brand always stays at the top of the customers minds whenever they make a purchase decision. Brand recognition and awareness depends on how quickly people are able to discern your brand through the logo, jingle, advertising campaigns, product packaging or the tagline. Sometimes bombardment of advertisements is fruitful but mostly it puts your audience off or irritates them, so make sure you use this technique wisely. For example, the name Coca Cola has been deeply and subtly inculcated in people’s minds through television, billboards, kiosks, social media and various other platforms. Whenever, there is a talk about drinkables, the first thing that hits them is “Coke” which is one of the reasons why its name is so popular across every continent and country. Similarly, Nestle remains indomitable in the food and beverages industry. Let’s discuss what tactics companies can use to be successful and how they can remind their target audience that they exist.

1. Brand Building

Companies have to be crystal clear about what they are trying to deliver and represent through their brand. The tone and style (informal, friendly, cheeky etc.) you use on various channels and platforms really matters since it depicts your brand voice. Aesthetics and visuals (font or color) leave a long-lasting impact on customers. Take the example of McDonalds which uses a vivid combination of yellow and red. With a simple logo and a tagline, "I'm lovin’ It" people can quickly and easily recognize and distinguish the brand from its competitors. Moreover, people prefer brands whose values are in line with their own beliefs, make sure you keep these aspects in mind which subtly affects your target market.

2. Freebie

When you introduce a new product or service, it’s good to offer freebies to people or potential customers in the form of a free trial or sample. This allows customers to interact with the brand, get updates and information regarding new features, and develop a sense of excitement which can lead to a positive word of mouth. It not just improves brand association but people may also end up buying your products. Take the example of Sapphire which offers free trials for its entire range of cosmetics and people end up buying a bunch of their products. 

3. Social Media

Billboards and television commercials have become old school and they are not as effective as social media. Brands can reach out to a larger audience by advertising and promoting themselves via online platforms. It helps to build strong company consumer ties and establishes trust and loyalty. Brands can market their products through influencers or experts who have a plethora of followers. In this way people become aware of your brand and would give your products a try.

4. Events

Sponsorships help companies to improve and build relationships within a community. People recognize a brand on the basis of the type of events which that company sponsors. Your primary focus should be on how your target audience will perceive and connect you with that event. Such events include webinars, arts, sports, or charitable ones. The people in the event can be your potential customers and might advocate your company. 

There are several other techniques like referral programs that brands can use in order to increase their presence and visibility. However, the best way for new businesses who are striving to improve their brand awareness is to follow the footsteps of leading brands who are market leaders.   

 

Role of Technology in the Healthcare Industry

Necessity is the mother of invention

Technology has never been futile; every now and then it stuns us with some jaw dropping inventions. Like any other industry, it has greatly benefited the health care sector too; easing the work of medical practitioners and providing relief to the patients. From illness diagnosis to best curative treatment, everything is possible within a short time. In many cases patients recuperate quickly and advanced medical procedures have made pain less severe for them. Along with this, healthcare apps and remote consultation has made it convenient for patients to discuss their issues online, without travel hassles. Now let's delve deeper and find more about how technology has uplifted the healthcare industry.

No more bulky files!

1.      Digitized Medical Records and Big data

Nowadays, details of the patients are summed up and saved in the form of electronic medical records. This digitized record includes the patient’s X rays, CT scans, diagnoses, prescriptions, lab reports and even information regarding their stay at the hospital. Medical professionals and lab assistants can exchange information electronically which lessens the chances of errors and negligence. In short, digital records are time saving, more accurate and lead to better coordination within the healthcare departments. Moreover, with the new healthcare technology, big data collection has become cost effective and efficient. In addition, cloud storage has made it easier to securely store this data. Medical professionals can use this information for R&D, predictions of future diseases and later come up with advanced medical treatments or preventative measures to curb their spread.

Install apps now!

2.      Healthcare Apps

Today every person carries a smartphone and due to technological advancements, a number of healthcare apps have been introduced. Since these apps provide customized solutions to the users, people can keep themselves fit by keeping a track of their daily consumption and activity levels. Patients can also get their test results, receive medical reminders or any other information related to their health or appointments. Such apps can also help specialists to deal with the side effects of certain medicines, provide solutions to patients and make diagnosis easier.

Anywhere around the world

3.      Telemedicine

Telemedicine has been a life saver. With this technology, patients can reach out and consult doctors and experts around the globe even if they are in a critical condition. Patients who are bedridden or confined to their homes can use telemedicine devices to connect remotely with the medical professionals either through video calls or the apps. It allows you to transmit bio signals, reports, images or share any other medical information with the doctor for consultation, without the need for patient-doctor presence at the same time. 

Tech is life saving

4.      Better Patient Care

Medical practitioners have been using advanced tools and technologies in order to provide better health service to their patients. As mentioned earlier, EHRs can be used to retrieve a patient’s past medical records in order to make rational decisions. Similarly, Virtual Reality apps, tools and gadgets have been very useful for patients dealing with depression, dementia, stress and other mental health related issues. Augmented Reality has eased the task for surgeons while performing a surgery. For example, it minimizes the chances of errors when they are locating a tumor during a surgery. Even AR vein detection scanners show a clear image of the vein on the screen. Apart from this, with the help of 3D technology, prosthetics and other devices have been introduced for patients who are suffering from certain impairments and disabilities.

Technology has been benign to the healthcare industry in many ways. It has not just improved the overall quality of services and experience of patients but has also allowed medical experts to explore new avenues and enhance their skills with time.

 

Best drone delivery companies

The sky’s the limit!

Comfort and convenience have become indispensable in today's time where people are too busy to go and buy everyday things such as groceries, eatables, medicines, or apparels. Transportation vehicles such as containers, airplanes, trains, or ships are only suitable for bulk cargo and this process is quite slow. For speedy delivery and to fulfill the customers demand on time, many companies have started delivering products through new technologies such as drones. Drones have become popular since the beginning of pandemic when there was a dire need to supply vaccines without human contact to far-flung and geographically inaccessible areas. A report has revealed that the drone market will experience a growth rate of $47.4 billion till the year 2029. These drones are battery operated pilotless vehicles which can deliver parcels at a specific location. 

Enterprises are now delivering packages through these flying bots with the help of their operating teams that control its movement through a base station. Interestingly, the delivery time is usually half an hour or less (almost the same as bikes which come all the way from traffic congested roads). Let’s discuss some of the leading companies that have been successful in delivering items through drone technology.

1. Zipline

Zipline is an American company that introduced its electric drones in 2014 for the delivery of medical products such as vaccines, frozen plasma, medicines, platelets, prescription as well as blood, wherever required. Apart from medical supplies, it has made the delivery of restaurant meals and grocery items way easier. Every Zipline flight is monitored and controlled by the remote pilots who work at the distribution centers. The company's drone can carry 7 pounds of goods at a speed of up to 70 miles per hour. One interesting feature of Zipline’s drones is that they are eco-friendly i.e. cause 97% lesser emission than land vehicles. The company has successfully provided services within 80 km of reach, even in highland areas or where the weather is extreme. 

2. Wing

Wing is another company owned by Alphabet Inc. which is providing autonomous drone delivery services in three continents. You can get food, medicines, household items goods and small packages delivered right at your doorsteps by simply placing an order through their app called OpenSky. Wing guarantees safe, efficient and faster delivery and has carried out 100,000 tests before being fully operational. The company's drone picks the order from the relevant location and flies up to 45 meters above the land, dropping the parcel at the customer's destination within a few minutes. These air vehicles have a weight limit of 1.2 kg and can withstand rain and strong wind.

3. Flytrex

Flytrex delivers high sky and contactless service almost instantaneously (within 5 minutes) by dropping the package in your backyard. The company has made its name in the industry by delivering more than 85000 products. Each delivery has a direct operating cost of around $13.50. Eatables, grocery and retail items including popcorn, cookies, burgers, sandwiches, toothpaste, and coffee were delivered in Texas and many parts of North Carolina, especially during the pandemic. Flytrex has teamed up with major companies such as Walmart, Skyway Technologies and Papa Johns and its drone can carry a maximum weight of 3.3 kgs.

Drones have stirred up competition among world’s largest e-commerce companies and will be the future of logistics. This new method will not just maximize productivity and provide ease to customers, but will also reduce pollution.