7 Innovative Marketing, Economic, Infrastructural, and Technological Impacts

1. Use of Mobile phones

According to Pew Research Center research on possession of smartphones in 2011, 95% of Americans owned at least one cellphone while 77% own smartphones. Due to new technology, broadband service has decreased significantly, hence why mobile usage has gone up. 92% of people aged 18-29 own smartphones while 88% of people ages 30-49 own one. 74% are people aged 50-64 who possess smartphones.

With these statistics it is clear that mobile phones reach the highest percentage of consumers, thus a new market emerged and was tapped by companies for advertising purposes and app creation. Consumers are now buying products using their phones, they use them to do market research on products, make price comparisons between vendors, the list is endles. Businesses are increasing tapping into this gold mine by either creating mobile apps for their consumers where they can make all their purchases at their convenience.

2. Shift from physical retail shops

The retail industry has had to become innovative to catch up with the mobile market. Most consumers are global (or in some cases cannot travel physically due to disabilities or distance), and may not be in a position to travel to your physical store and purchase merchandise. This is the reason for an increase in online stores. This is where by pictures are taken then posted in online platforms where buyers like them make online payments and goods are delivered to their preferred locations.

3. Internet visibility

Web visibility is vital to any business in this digital world. Instagram and Facebook have become a force to be reckoned with in 2017. Applications for consumers, and creating a website that is interactive with your consumers, and which has good customer service (preferably 24/7) is an absolute must. Not being available on said platforms even as a mom and pop shop has you considerably behind the curve.

4. Live streaming

Videos that are being live streamed are becoming popular. That is the main reason why companies like snapchat, Facebook, and even Instagram have ensured that their applications can offer this feature. Watching videos instantaneously through these platforms captures the audience’s attention far more than photographs. A good example of a company that has largely tapped into this gem is RED BULL.

5. Indoor Navigations

Indoor navigation helps increase your customers’ shopping experience.This is by providing shopping directions instantly. It enhances good customer care services in real time to clients. Given that so many people today are touring foreign countries or other cities, giving people proper and easy to see directions around your subways, shopping areas, and stores, is the best way to give them a great experience and keep them coming back.

6. Real time Chat Support

Along with point #5, real time chat support helps user navigation. Not only are they able to instantly ask questions, or for support from your live operator, but your operator on stand-by can also track user navigation on your digital space (website), engage the customer via chat, and ask them if they need any help with their product or service selection.

7. Experimental marketing

This is the marketing strategy that helps consumers and producers engage with real time invitations. This can be through events. When companies are launching a product they organize concerts or launching parties where consumers get to be introduced with the product .e.g when a movie is premiering – a premier party/launch event is organized specifically to bring the product to customers for the first time.