What is the fourth industrial revolution?
Carmichael states that the fourth industrial revolution is the technologies that blur the worlds from physical, biological and digital. The term was first coined from Klaus Schwab, the founder and chairman of the World Economic Forum
Why it matters to marketers?
Carmichael argues that the factors, Such as Artificial Intelligence(AI), Virtual Reality(VR), quantum computing and the Internet of Things(IOT) all help with the collection of data that is useful to marketers. These data helps marketers understand consumers and the market better.
What impacts can the fourth industrial revolution have?
How it will effect Marketers
- More Data = More Personalised Marketing: With more tools evolving with the use of various technologies such as Social Media, marketers can get better insights and analytics through seeing what their target audience responds to best. For example lets say your audience mostly shops via Ecommerce than integration of a Instagram shop page will be vital.
- Increase of Connected Devices = More chances To Build a Brand: This can be using tools on the Internet of Things to see what customers are doing and track what devices they shop on to send them special promotions. For example App only deals.
- Data is Shown in Real Time: This means that on tools like Social Media ads you can see how many users you can reach when entering in your audience and budget making a ROI on spending easier to calculate
- New Technology Leads To New Jobs: Technology is so evolved that marketing of a brand usually consists in a team to get everything done. With technology branching out this means that roles like, full time blogger, content writer, SEO Specialist is becoming more and more a thing. This is a positive aspect as this will lead to more people employed
The effects that can be found in this blog post indicates a positive shift in affection towards marketing and marketers.
The research shows that the fourth industrial revolution has made marketing easier for marketers.
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