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Marketing Contributes to Increased Technology Adoption

Marketing contribution to technology adoption
Modern B2B Marketing to fill up your sales funnel | Canada

Technology Adoption Rates: How Marketing Contributes?

Marketing contribution to technology adoption
  • (Revised: 02/02/2023)
  • Reading time: 2 minutes

Picture the world ten years ago. How different was the technology we used then compared to what we use now? The Internet was just starting to become commonplace and smartphones and social media were barely in existence! It is difficult to imagine living in a world like that today. Yet, if you had imagined the same thing a hundred years ago, a ten-year difference meant hardly any change in lifestyle. It is clear that today’s technology adoption rates are rapidly increasing and will continue to do so for the foreseeable future. So, how come so many technology companies fail while overall technology adoption rates are accelerating? What is the differentiating factor that makes some successful and others a total failure? The answer is simple: marketing. How can marketing be used to accelerate new product adoption when technology adoption rates are increasing at unprecedented speed?

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Fortunately, we have the answer to this question thanks to a concept conceived at the mid-20th century that still applies today. This concept is Everett Rogers’ Diffusion of Innovations Theory which seeks to explain the process behind new concepts and technologies and their spread through cultures. The theory states that there are four main elements that influence the new product adoption rate:

    • Innovation: an idea, practice, or object that is perceived as new by an individual
    • Communication channels: the means by which messages are transferred from one individual to another
    • Time: the time from which the innovation is first known until it is either accepted or rejected by a potential user
    • Social system: a set of interrelated units that are engaged in joint problem solving to accomplish a common goal (an institution, a neighborhood, a nation)

Being aware of these four elements, we can now see how they can relate to technology adoption rates and discuss ways in which we can improve them. Let’s examine each element and how technology companies can use marketing to reduce the amount of time it takes for their product to be accepted and adopted by their clients.

Innovation: What does your product bring to the table that isn’t already there? In order for your innovation to create a buzz, it must present something worth talking about. This is where a good positioning strategy can make all the difference. Your product must be perceived as new and special, whether it is a breakthrough innovation or not.

Communication channels: As a tech company, you must be able to identify the channels that your target market listens to. What blogs do they visit? Are they a member of a certain social media group? Do they go to a particular professional meeting or conference? You must learn how to use these and other channels to effectively highlight your solution if you hope to increase your technology’s adoption rate.

Time: Thanks in large part to the Internet, modern communication channels have allowed for faster communication than ever before. To boost your new product’s adoption rate, your marketing strategy and execution must communicate your product’s value as clearly and concisely as possible or risk being rejected by potential clients who are already accustomed to instantaneous communication. Time is money. If clients don’t understand your product within five seconds, they will move on and not look back.

Social system: Today, a social system encompasses more than just physical examples such as neighborhoods, offices, or schools. Increasingly, there is emphasis placed upon online social systems such as review sites, forums, wikis, video/photo sharing sites, social networks, and other digital communities. These are very powerful tools that can quickly and easily spread messages in a timely manner. You must choose your target market appropriately and decide how to incorporate these online communities into your customer acquisition strategy in a way that still allows for the potential use of more traditional social systems.

The bottom line is that for a successful adoption rate of your new technology, you must invest in marketing that addresses all four of these factors. Technology is changing our world and evolving at an ever-increasing pace. To be a winner, you must find a way to keep ahead of this pace.

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The 5 Interesting Major Shifts of B2B ‘New Marketing Evolution’

Marketing Evolution
Modern B2B Marketing to fill up your sales funnel | Canada

The 5 Major Shifts of B2B 'New Marketing Evolution'

Marketing Evolution
  • (Revised: 02/02/2023)
  • Reading time: 2 minutes

A year is wrapping up, and the marketing industry is facing some major changes moving forward. Though this year was nowhere near as financially tough for many as the year before, the recovery, while starting to show signs of hope, is still hampering firms. In response to the economic downtown, as well as new, emerging technologies, companies have undergone a major shift from the old marketing regime in a process we’ve coined New Marketing Evolution.

We have identified 5 major consequences of New Marketing Evolution to consider as we head into the new year.

1. The definition of marketing, transformed

During the last 2 years, the marketing industry has undergone a significant shift. The mindset of potential clients has changed and, if you or your company continue employing the old methods, you may quickly fall behind the curve. The key changes:

Old Marketing Regime New Marketing Evolution
5-year marketing plan Real-time, here and now: Marketing strategies, technologies, and techniques are evolving every day, so companies are now sticking to a 6-12 month outlook.
Mass approach Customized to the prospect: If you’re pitching a one-size-fits-all package to a potential client, odds are that they’ve seen it before, they can do it themselves, or they can find better options by searching Google. A customizable, personal option is the way to make leads stick around.
Spending big bucks WOM (Word-of-mouth): Why spend thousands on an ad campaign that you’re not even sure can reach the right people? B2B marketing strategy based around word-of-mouth saves money and can drive real, relevant leads.
Controlled sales environment Welcome to the Wild West: Whatever your business, there are likely twenty others just like you, eager to capitalize on their product. Just like the Old West, you need to constantly stay on your toes and adapt continuously.
Push marketing (tell me what I need to do) Pull Marketing: Businesses are constantly overwhelmed with marketing attempts. This isn’t the death of the cold call, but the new marketing strategy is: don’t interrupt me, I’ll call you when I’ve done my research.
Use of traditional offline media Use online and offline media: Integration is a key for the success of a marketing campaign. Combining the power of online marketing with some of the proven traditional media strategies may yield the 1+1=11 effect. Just ensure that you effectively plan it out.
Mostly manual Automated process: There’s an app for that. Just like about everything else, marketing automation software has become extremely prevalent and it allows you to do more with less.
No ability to measure What is the ROI?: Calculating return-on-investment has become effortless but increasingly sophisticated, like a simultaneous paradox. Invest in the marketing activities that would make an impact on your sales.

2. The competitive landscape is more spirited than ever for three reasons: (A) the economic situation leads to less buying power, thus decreasing the number of potential consumers or clients, (B) a smaller world approach brings a lot of new competitors from international markets that were not present in our market before, and (C) the high pace of changes and the consolidation of technologies creates inherently new competitors, both direct and indirect. For example, the introduction of Apple’s iPad imposed competition not only on eBook readers, but also on laptop, notebook, wireless phone, and portable entertainment devices. In the first quarter of 2011, iPad will have its own breed of competitors; since, just two weeks ago, HP released the Slate.

3. Internal pressure to use fewer resources and deliver results faster: Marketing budgets usually shrink or almost disappear in slow economies, but the need for good leads to fill your pipeline is still there. You just need to work harder with the limited resources you have at hand. Once more let’s look at the table above and notice how new B2B marketing strategies are designed for efficiency and cost-effectiveness.

4. The new marketer must master technology and create original content: While a lot of marketing is performed online nowadays, there are countless tools that can be used to research, measure, and automate the marketing process.  In order to efficiently master them and produce creative content, here are the necessary approaches:

Old Marketing Regime New Marketing Evolution Approach
Static Content Authentic and valuable content
Monologues and speeches tone Share, interact and collaborate
Isolated campaigns Integrated strategy across channels
No data, no worries Prospect data should be analyzed and drive improvements

If you’re not producing creative, original content through a company blog, a Twitter account, a sales presentation, or any other part of your marketing campaign, then why should a client listen?

5. Delivery = ROI: After you’ve spent time developing and implementing a well-targeted, carefully-researched, meticulously-refined marketing solution, you’ve only just begun. It is not enough to just spend time on delivering marketing activity; you must listen to your target audience, collect and analyze marketing results, deduct what the return on investment is, and determine how it can be improved for future marketing activity.

Marketing Evolution may have created a more competitive and constantly changing environment, but it has opened the door for customization, unique interpretation, inspiring interaction, and creativity. New technologies and techniques allow new B2B marketing strategies to build closer relationships with clients than ever before. How your company evolves with New Marketing Evolution is up to you.

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The above-mentioned marketing consulting and lead generation services are how our B2B marketing agency accompanies organizations in their quest to grow. Contact us today and allow us to look at your specific marketing challenges and suggest how we can assist you specifically.

Testimonials

“Ranking our Web site high on search engines results, designing a professional Web site look and developing engaging relevant content for a heavy technology company like us resulted in a dramatic increase in client leads that we receive from our Web site.”

Simon Robin CEO, Hardent
Schedule
a Free Call