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Future Trends in Digital Marketing: The Convergence of AI, IoT, and Big Data

By Capital Markets CIO Outlook | Wednesday, February 20, 2019

Internet of Things (IoT), data analytics and AI have revolutionized the digital marketing territory by providing in-depth information on customers, based on their interests, preferences, and demands; In a nutshell, the year 2018 has been progressive for industries.

 As the new technologies are advancing, the competitive structure has become highly disruptive thereby forcing companies to analyze new market trends, improve operational efficiency and adopt advanced innovations if they wish to stay ahead in the competition. What’s more? Customers are now becoming highly impatient; they want everything in less time, for less money and negligible efforts. Hence, organizations are striving hard to enhance their productivity, deployment and automation game.

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Digitization is hitting the digital marketing industry. Formerly, marketers focused and invested their money on creating catchy advertisements to allure the customers. But nowadays, with the help of ground-breaking technologies, marketers are streamlining their efforts to offer a personalized experience to each of its clients. These technologies are promising and are helping marketers to ensure high-level privacy and security thereby revamping digital marketing strategies.

1. Artificial Intelligence (AI): Gone are the days when customers were bombarded with irrelevant advertisements on their smartphones. But now, a digital marketer prioritizes customer interest and provides them with a personalized experience. All this can be accomplished with Artificial Intelligence (AI) integration. The technology will give marketers a profound insight regarding customers’ perception which can further lead to effective targeting and a good ROI. Also, the adoption of chatbots is revolutionizing almost every business as they can engage well with the customers, and promote a brand too.

2. Big Data: Big data has transformed the job of marketers. It includes gathering data from numerous sources, identifying the unidentified patterns, understanding the customer needs and providing excellent services to the customers. But assembling this tremendous amount of data is not possible humanly, here is where Big data analytics comes into the picture and help marketers in deriving knowledge from data points, analyzing market trends and understanding customer behavior.

3. Internet of Things (IoT): There is a sharp increase in the utilization of IoT-connected devices. With the proliferation of smart devices, digital marketers can gather a lot of useful data about their customers. IoT helps marketers to get an idea of what customers expect from the brand and how marketers can grab this opportunity to create highly customized ads for their targets, attract them to buy the products and enhance conversion rate.

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