Moksh Popli Looks at 4 Ways Technology Will Power Brands in the Future

For decades, businesses have utilized technology to drive brand awareness, generate visibility, increase market share and mindshare, and ultimately onboard profitable, loyal customers. However, in the next few years we will witness an entirely new level of technology-driven marketing and advertising strategy. According to Moksh Popli, here are five ways that technology will power brands in the future:

Smart Billboards

5G networks will unleash a connectivity and data sharing infrastructure that will give rise to smart billboards, which enable businesses to micro-target their customer base with real-time, and in some cases personalized messages.

According to Moksh Popli, while small-scale smart ads are already found in some urban centers, in the future we’ll see this expand in a much bigger and more comprehensive way. For example, drivers with fuel-inefficient cars will see billboards telling them exactly how much money they would save by driving a more fuel-efficient model.

IoT Appliances

Another way that technology will power brands in the future is through IoT, as manufacturers proactively keep in touch with customers with regard to maintenance, warranty information, support documentation, and advice on additional purchases and promotions. According to Moksh Popli, we are not far from the day when household appliances will share data to maximize the performance and lifespan of each, and ultimately help manufacturers deliver more value and drive long-term customer loyalty.

Granular Audience Micro-Targeting

One of the most important — and also the most challenging aspects of marketing is targeting sub-groups that are potentially lucrative but are cost prohibitive to reach through conventional marketing such as broadcast advertising, mailers, flyers, etc. However, in the future a growing number of businesses will be able to harvest, analyze, organize and exploit a massive amount of data that enables them to target specific customers with personalized messages. For example, parents who come home from the hospital with their new baby would find a personally-signed letter from a local car dealership in their mailbox congratulating them on the new addition to their family and inviting them to visit the dealership for a very special offer.

The challenge, however, will be to establish and enforce privacy laws that govern how customer and prospect information is gathered, stored and shared. With some very stringent customer data protection regulations applied in the EU with the GDPR, it is likely that there will be something similar in other parts of the world in the near future as well.

Mobile Market Research

Market research is essential data that helps businesses decide everything from what products and services to develop, to which customers to target and how much to charge. The proliferation of mobile devices and the impending implementation of 5G networks (which will co-exist alongside 4G networks for a while before eventually replacing them) means that businesses will be able to engage current and potential customers in ways that were impossible in the past, such as through remote online communities supported by real-time video conferencing and virtual focus groups.

According to Moksh Popli, most mobile market research engagements are web-based or social-media based surveys. This is useful but is nowhere close to being as valuable as engaging target customers over long periods of time to deeply understand their motivations, perspectives, opinions and thought-processes. Technology is making this type of rich, video-driven engagement more affordable and practical.