Business Research Report

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Business Research Report

Information Technology in Marketing

Table of Contents

Executive Summary……………………………………………………………………………………………………….3

Introduction………………………………………………………………………………………………………………….4

Research Findings………………………………………………………………………………………………………….5

Hyper Targeting………………………………………………………………………………………………………….5

Social Media……………………………………………………………………………………………………………….6

Customer Relationship Management (CRM)……………………………………………………………….7

Recommendations…………………………………………………………………………………………………………8

Conclusion…………………………………………………………………………………………………………………….8

References…………………………………………………………………………………………………………………….9

Executive Summary

This report examines new information technology that is available to help marketers. People spend so much time online these days that it is almost impossible to market without using technology and still reach a large number of consumers. The three technologies we chose to study for this are hyper targeting, social media and customer relationship management (CRM).

Hyper targeting is the ability to advertise to certain people or groups of people based on specific criteria. Hyper targeting was first heard of through MySpace and involves using information like age, sex, location and interests to determine who to advertise what content to. Social media, dating sites and shopping sites all use given registration information to learn more about consumers. The more companies know about people, the better they can decide who their potential customers should be and how to reach them.

Social media is communication through online communities. The use of social media in marketing has become very popular over the last few years. This is a very effective way to promote content by increased visibility. Using these platforms also allows for more involvement with the customers to build more trusting relationships with them.

Customer relationship management refers to software that records and analyzes all kinds of useful data. This info can be obtained in many different ways by either the company or a third party. It is used to understand the customers and their buying habits.

We recommend opening a Facebook and Twitter account, using those accounts to hyper target and creating a CRM database. We chose these specific technologies because they are fairly simple to implement and would be the most helpful for our company.

Introduction

The purpose of this report is to review and analyze new information technologies that can assist with marketing in the company. As of this year, there are over 950 companies that provide marketing software (Brinker 2014). Everyday, marketing professionals are looking for new ways to grow their business and technology has changed the way they reach new customers. These days, it’s all about the customers and what they want and because they have access to pretty much everything, marketers have to find a way to get their attention. It is estimated that people spend about 11 hours a day using some form of technology (Petronzio 2014). Knowing this, traditional marketing just isn’t enough anymore. If companies want to keep up with consumers, they must keep up with technology.

With all of the technology available for use, companies can have so much information at their fingertips. Out of all of the possibilities, we chose to examine social media, hyper targeting and customer relationship management (CRM) because we think those will work best for the company. Social media is very low cost and will allow us to reach a much bigger audience. We can engage the audience and build relationships with them this way. Hyper targeting will be used to identify potential customers and reach them more efficiently. This ensures that the people we advertise to are more likely to be interested in what we have...
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