Authored by Sandiip Kapur, Founder & President, Promodome Group
A period of transition exists in marketing. New technologies have fundamentally altered how marketers operate, affecting everything from the duties of the chief marketing officer to the types of content produced and why.
Marketing professionals may enhance their client outreach and marketing initiatives through marketing automation and data analytics. This involves analyzing the design of demand generation programs to improve marketing effectiveness and return on investment, as well as using analytics to comprehend how present and future consumers act and make decisions in various circumstances (ROI).
Also, the future of the advertising paradigm is contested by many people. Freemium and e-commerce partnerships are intriguing new ways to monetize content. Still, predictions of the end of a $500 billion global business are naive, childish, and entirely unsupported by the facts.
Advertising is still doing well, and its economic contribution to the world is steady or perhaps slightly increasing (primarily due to emerging markets). In actuality, a renaissance in advertising is far more likely than not.
The most knowledgeable marketers today are adaptable and fast to alter. Here are five themes that will influence the future of marketing and advertising, from experimenting with artificial intelligence (AI) to improving how we use extensive data to interacting with customers on their terms and fostering brand loyalty via genuine storytelling.
In the future, targeting methods will take precedence over target audiences. This makes a lot of sense because various advertising responsibilities require various methodologies. For instance, a campaign that aims to increase brand preference has different requirements than one that aims to increase sales immediately.
Social Network Analysis is an intriguing technique for building more successful organizations. It has been discovered via studying organizations that influence may be found in unexpected locations.
Although most marketers know big data’s enormous potential, they are overwhelmed by its unprecedented amount and variety of unstructured data. It isn’t enough to collect data; marketers are also attempting to determine how to distinguish valuable customer insights from the voluminous data trash. In my experience, marketers may leverage pertinent information to create more innovative, focused ads with better data signals.
Additionally, businesses need to learn from their data fast to improve the consumer experience. Consider what is truly working, what isn’t, and how you might improve if you want to encourage increased everyday active usage of your technological product. Marketers can also benefit from this.
Marketers’ content value is changing as analytics tools for monitoring content performance proliferate. The trend toward employing machine learning to recognize behavioral patterns has already been evident; the next step is to use this data to guide creative strategy.
Each time a consumer engages with your material today, you have the chance to get to know them better and eventually get them closer to making a purchase or other important choice. In the same vein, you’ll see an impact if the experience you’re providing isn’t tailored to their needs. Since there is no longer a single, universal model for marketers, they must reconsider their content and channel distribution strategies while keeping the whole consumer experience in mind.
Modern consumers are self-directed, which intelligent marketers are already aware of. However, customers are looking for individualized experiences as well as the content. They are seeking material that does more than merely advertise a product, in other words.
The trick is to scale out a unified campaign that tells a genuine narrative — across various platforms — and connects with people in real-time, no matter where they are, after starting small, figuring out what works, then scaling out what works.
Display advertisements aren’t as successful as they once were, and 2017 was a turbulent year for digital advertising. However, advertisers have been expanding their spending on mobile, social, and programmatic advertisements despite the development of ad-blocking software.
It’s time for marketers to seriously consider the value of display, especially on mobile, and leverage data insights to identify the most successful ad campaigns.
In keeping with this, companies and marketers continue developing and deploying various media possibilities, from display to native, video, and mobile advertising. The usage of hyper-personalized information and experiences, from augmented reality to live content across platforms, is another swiftly developing trend.
The goal of some of the most prosperous businesses in the world today is to provide customers with a better experience. Marketers must ensure they have the necessary technology and consumer data to offer the correct content and experiences across channels and at the right time.
For marketers and businesses to succeed in an environment with numerous complicated contact points and a consumer decision journey that is constantly shifting, utilizing the trends mentioned above is essential.