We’ve rounded up some innovations for you to consider for your business.
It seems as if every week there’s an innovation or new technology that is promising to change the way you do business. But not every new piece of software or Google Ad algorithm will impact your operations.
To help you sort through some of what’s going on in the market, we’ve compiled three ways technology can be used to level up your marketing game. These concepts are not going anywhere, so now’s the time to familiarize yourself and explore whether they can work for you.
Artificial Intelligence is all the buzz
There are so many ways AI can impact your business, most of which cut down on the time you spend on certain tasks. From a marketing perspective, AI can assist in analyzing customer data so you can create hyper personalized, targeted campaigns; allow you to add an unmanned chatbot to your website to address customer concerns; or flesh out your brainstorming topics to write blog content that resonates with your prospects. As with any new tech, you want to proceed with caution and carefully look at the outputs before you put them into practice. Maintaining the quality of your marketing content and customer touchpoints is paramount, so they reflect your brand accurately and respect the relationships you’ve built with your audience.
Virtual appearances expand horizons
The pandemic sent the conferences and conventions industry into major shock, and from that came the epiphany of virtual events. While many have embraced the return of in-person and live, virtual events are still in demand due to their convenience. According to Grand View Research, virtual events are expected to expand by 21% from 2022 to 2030. Event technology has come a long way, with some allowing you to create an avatar, enter networking rooms or visit booths like you’re standing in the room. The benefit for your business is that you can expand beyond the physical bounds of where you or your employees might be able to travel. You can gain exposure to different regions and new industries by testing your appearances at virtual events first.
Referral business is getting more sophisticated
Word of mouth is everything— there’s nothing better than a customer recommending your business to their network because they had a great experience. But sometimes customers need a nudge to share their experience, and scaling a referral program can be a beast to take on. This is where referral marketing automation software comes in. It’s getting more sophisticated, with some even dubbing it a revenue-generating robot. Programs like Ambassador, Rocket Referrals, Referral Rock and Referral Factory allow you to manage an organic sharing experience – from start to purchase – in one place and scale it in a snap. Research shows referrals not only have a high conversion rate but also tend to be lower cost as compared to other lead sources.
Running your business and sorting through the countless marketing innovations that come at us every day can be a challenge. But some are worth exploring and might just propel your business to the next level.
If you’re curious what marketing innovations are all the buzz:
- Research if the marketing technologies you’re already using have AI-enabled capabilities.
- See if your industry offers virtual events of interest and try them out.
- Consider referral marketing automation software to grow your referral lead sources.