Until the last few decades, the most advanced calculating mechanism in the world was the human brain. However, we have created technologies that could quite possibly make the human brain by itself obsolete. MIT Press defines the technological singularity as “the idea that…ordinary humans will someday be overtaken by artificially intelligent machines or cognitively enhanced biological intelligence.” Not too long ago, this idea seemed quite farfetched. Today, however, the advent of rapidly advancing technologies like autonomous vehicles and artificial intelligence makes the singularity seem like a not too distant possibility.
Exponential technologies are changing our world in every way. This certainly includes the way in which we communicate with each other. In 2018, several exponential technologies will impact your marketing plans and practices in significant ways including…
Machine Learning
Machine learning is a fantastic example of an exponential technology. In fact, machine learning is actually a type of artificial intelligence that allows for applications to develop more accurate predicting models without the explicit intervention of a human programmer. This means that a software application can essentially teach itself to more efficiently gather, sort, and display information for users and analysts alike. This particular kind of artificial intelligence has already made its way into common marketing practices. A great example of machine learning in online marketing is something you probably experience every day. When an internet user searches for a subject or product on a search engine, machine learning software utilizes that search information to personalize content for the user during other portions of their online experience. For example, if you were to search for the “best local bbq restaurant” and, later, see an advertisement for a local BBQ joint on your social media feed, that would most likely be the result of machine learning marketing.
Marketers must prepare for the changes that machine learning will bring to marketing in 2018 and beyond if they want to keep up with consumer demands and stay ahead of competitors. Before marketers had access to the robust data that is provided by consumers via the internet, social media, and other consumer data sources, launching targeted campaigns was difficult and expensive. Now, however, with the advent of advanced technologies like machine learning, marketers must emphasize proper use of the massive amount of data available and prioritize automation to stay ahead.
Cybersecurity
Since the advent of the internet, cybersecurity has been a tumultuous subject for most users, consumers, and technology leaders. The controversial nature of cybersecurity has certainly not diminished in recent years. More and more, our data as consumers is being stored online. This has many benefits for both buyers and companies alike. Consumers find convenience when their data is stored and managed appropriately while marketers are able to launch more effective and focused campaigns utilizing the data that is stored. Additionally, it is nearly impossible to operate in a digital world without giving up at least some of your personal data. Certain technologies are actually specially programmed to monitor your preferences and activity online and report back to certain agencies to tailor your online experience to your individual needs. On the surface, this seems like a win-win situation. However, there are negative consequences associated with storing sensitive personal data online. Consumers databases are a particularly juicy target for malicious hackers who would use other’s personal information for their own financial or personal gain. In fact, the Identity Theft Resource Center found that “the number of U.S. data breach incidents tracked in 2017 hit a new record high of 1,579 breaches.”
Today, online marketers who wish to gather and utilize consumer data must make cybersecurity a priority. This means implementing exponential technology that can keep up with other quickly advancing technology that is specially developed to steal data. Companies are discredited and their reputations are damaged when they are subject to data hacks that impact their customers. So, to be an effective marketer in 2018 and beyond, understanding and implementing exponential cybersecurity technologies is a must.
High-Speed Internet Globalization
In the course of just 22 years, the percentage of the globe’s population with access to the internet has increased from the just 0.4% to 54.4%. That is an enormous jump in just two decades. However, when you consider the potency of exponential technology, the rapid spread of the aptly named world wide web should come as no surprise.
The unprecedented rate at which the internet is spreading across the globe is creating a multitude of opportunities for marketers. The expanded reach of the internet also means that your marketing has a potentially expanded reach as well. When considering your marketing plan for 2018 and beyond it is important to consider how (and if) you will leverage new markets to your advantage. In addition, it is time to develop a more remote and less expensive sales and marketing strategy. If you, like many other companies, are stuck on field sales reps and tradeshows and your sole source of lead generation, then you are likely wasting money. Investing in developing virtual relationships with global partners in new and exciting markets as a result of internet globalization is a great way to differentiate yourself. Developing virtual relationships in lieu of shelling out cash on expensive in-person sales and marketing initiatives allows for more flexible cashflow and allows your company to maintain profits in an increasingly competitive environment.
For more information about how to leverage technology to improve your marketing, please contact us.
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