The business landscape is changing. Business leaders need to keep their change antennae on high alert. If at all they would want their business to survive the competition. Digital technologies are driving the current change in the business world. Digital technologies are electronic devices, tools used for storing, processing, and interpreting data. Digital technologies have affected all levels of business from marketing, management, and customer service (Selwyn, 2014).
Digital technologies such as Facebook have 2.45 billion monthly active users as of 2019. This high number of users creates a huge marketplace for businesses of all forms and size (Gallaugher, & Auger, 2003). To help the companies grow, Facebook came up with a product known as a Facebook page. The company can create pages on which they showcase their products to potential customers. There are two options on Facebook pages that help business sell: one business can invite customers to their pages through invite buttons, and secondly, companies can boost their product through a Facebook paid version of the page.
Other digital technologies such as Google have created a platform through which businesses can host online shops known as websites. On websites, companies can list their products and share information about their services and products. For instance, in sites such as Shopify, a business can have an option where customers pay through credit cards and orders for a product to be delivered to them. Facebook pages and website has been game-changer for many businesses.
Digital technologies have changed even the entire spectrum of business management. In contrast to the early days, it is now possible for a senior manager of a business to host a business meeting with their staff who are in different locations of the earth. Such meetings are made possible by digital technologies of teleconferencing. Tele-conferencing is a digital technology which allows groups of peoples who are in different locations to hold a meeting, as long as they have access to computers and the internet.
Further, the advantages of digital marketing on marketing activities of business include the provision of cheap marketing options. Digital marketing technologies such as Facebook and Google are more affordable compared to traditional marketing options such as television. Digital marketing options are useful because of the large number of people they can reach per minute, with a single message. Also, they are helpful because of the massive data platforms such as Facebook have about their users. They know what specific users like, where they live, age, and their history on digital platforms. Thus they can target digital audiences with products they are likely to buy (Hagberg, Sundstrom, & Egels-Zanden, 2016).
Additionally, digital technologies have changed the management of the business. Technologies such as Email have become a standard tool in the market today. Nowadays, It is more likely than not that every employee in companies has an email address than not. As a result, a company message can reach everyone in a company in a flash of a second. Faster communication saves business expenses that would otherwise be in traveling from one location to the other for meetings.
Digital technologies have also made the customer experience in most business improve. Today there are many avenues through which a customer can communicate to a company; they could correspond to a business through Facebook, Email, Instagram, or even WhatsApp; this is in contrast to earlier days when a customer could only communicate with a company through a letter or via telephone.
To leverage today's technology, a business leader needs; to learn the digital technologies available and adapt them to their business. Changing digital technologies in their companies will help business leaders keep their businesses current and competitive. Failure to adopt digital technologies in a company would mean low production for the company in comparison to competitors.
BarNir, A., Gallaugher, J. M., & Auger, P. (2003). Business process digitization, strategy, and the impact of firm age and size: the case of the magazine publishing industry. Journal of Business Venturing, 18(6), 789-814.
Hagberg, J., Sundstrom, M., & Egels-Zanden, N. (2016). The digitalization of retailing: an exploratory framework. International Journal of Retail & Distribution Management, 44(7), 694-712.
Selwyn, N. (2014). Digital technology and the contemporary university: Degrees of digitization. Routledge.
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