Do you remember those days when you felt compelled by TV ads to watch your favorite shows? People were more patient and there was no way to skip ads. Technology has dramatically changed the way technology works to meet the needs of customers today. We now have TVs in our hands. This means that we can travel anywhere and enjoy any experience from the comfort of our own homes. The same goes for marketing. Technology is revolutionizing it and can be considered the key ingredient to most business's success. Many people ignored digital marketing when it was first developed. They continued to do traditional marketing. Soon, however, everyone realized the importance of online reputation and presence. While traditional marketing is still important, digital marketing and technology in the marketing industry have changed everything. It is now your website, app, or eCommerce store that represents your business and your values. Without modern technology, this would not have been possible.
AI can be used to market by helping businesses to collect data from users and to deliver suggestions and ads to those with similar interests. Privacy concerns are common with AI and data collection. However, AI is helping businesses market more effectively by providing content that matches their interests. Brands must understand their customers and be able to offer the products they desire. The AI market is expanding rapidly. The global AI market was $51 billion in 2020 and is expected to grow to $641 billion by 2028. Artificial intelligence is evolving to automate more processes, from creating content to answering customer queries to identifying consumer behavior.
In October, Facebook was transformed into Meta. This is the next major step in the metaverse. It's a virtual world that allows for social interaction and connection via the internet and augmented or virtual reality headsets. The metaverse, like other technologies that don't seem very important at first glance, will likely revolutionize marketing. Although it is still in its early stages, the metaverse is on the horizon. It is impossible to predict how large it will become, but it is dangerous not to prepare for it. Numerous big brands like Nike and Adidas have begun exploring the idea of the metaverse. Both companies have begun work on virtual shoes.
VR and AR
Virtual reality allows users to experience objects in 3D interactive environments. Augmented reality refers to the enhancement of real-world objects with visuals, sounds, or other sensory stimuli. AR technology is already a major player in the market. Many furniture stores have developed mobile apps that allow customers to use their mobile cameras to place furniture in a room and then see if it fits. This is a huge convenience for customers as well as businesses. The technology is also being used by other brands, such as Gucci's app which allows users to virtually try on shoes. Although VR is not yet mainstream, likely because of the high cost and poor user experience, it has the potential to be a powerful marketing tool. It allows you to experience things in virtual reality. Customers can experience your products or services without actually purchasing them. For a truly immersive experience, you can use VR to take customers through stores and showrooms.
Web 2.0 remains the current internet version, but Web 3.0 is poised to revolutionize businesses. Web 3.0 technologies include cryptocurrency, blockchain, non-fungible tokens, and decentralized autonomous organizations. Decentralization, I believe, is what Web 3.0 will bring to the table. It will allow users and businesses to access and store information from anywhere in the world at the same time, unlike Web 2.0. Web 3.0 could also revolutionize marketing -- it will likely go beyond SEO and social media. It will allow marketers to create more immersive content and enhance the user experience. How? Web 3.0 will focus heavily on AI and natural language processing. This will allow computers to better understand people to deliver better search results. Combining Web 3.0 and the metaverse will enable marketers to create engaging and immersive content for advertising or communicating. The world is changing for the better thanks to technology. Those who use it will succeed, while others may be left behind. Web 3.0, a new technology that will enable marketers and businesses to decentralize their processes will allow them to break down silos, secure transactions, and improve customer relationships.