Every major technological breakthrough has changed marketing. Consider how marketing campaigns were conducted prior to the invention of radio and television: display ads in newspapers and magazines, printed brochures left on doorsteps, signs in store windows, door-to-door salesmen, ads in local phone books and similar low-tech methods. The Internet, mobile devices and the Internet of Things have all been innovations that have altered the way that marketers deliver their messages, interact with consumers and built long-term relationships.
Millennials, also known as Generation Y or Echo Boomers, have been a hot topic in recent years. Why?
- Millennials will comprise 75 percent of the world's workforce by 2030.
- Millennials comprise 26 percent of the American population and account for approximately $600 billion in spending nationally and an estimated $1.3 trillion globally.
Internet of Things is radically changing how companies are connecting with their customers. Virtually every industry is finding that is impacting network traffic, the volume of data collected and the ways that marketers can engage their customers. Opportunities are only going to grow; by 2020, there will be over 30 billion connected devices, according to projections by Gartner.
Marketing technology has come a long way since the new century dawned. As recently as the 1990s, many marketers were still relying more on "gut instinct" than hard facts, but harnessing big data helped them make more informed decisions. What passed for personalized emails was often little more than a mail merge to insert a contact's name. Target audiences were painted with a broad brush that often included more people who had no interest in the product or service than people who might actually become customers. Automated campaigns, predictive analytics, customized content, seamless connections across touchpoints and powerful marketing analytics have helped transform how — and to whom — marketers are delivering their messages.