Marketers are constantly looking for innovative ways to pique the interest of their customers. On the other hand, industry leaders are quick to spot potential new techniques and technologies, but they also recognize that some strategies are better classified as marketing fads than trends.
For them, a good strategy involves a forecast of how the market will change over the next few years. Brands and enterprises get a competitive advantage since they may now develop jobs through a variety of methods. To achieve something well, you must think about the future and get it right.
Here are eleven distinct trends that will affect marketers and their strategies over the next five years. Be sure to bookmark this page, as you never know when these trends will appear on your radar.
- Personalization and automation will be at the heart of marketing in the future.
The key to more effective marketing is personalization. It’s all about figuring out what your customers want and then tailoring your marketing to meet their needs. Personalization also helps you be more efficient in your marketing by allowing you to spend less time on messages that don’t resonate with customers and more time on what does. Finally, personalisation increases the effectiveness of your marketing by allowing you to target a specific audience based on their actions or interests rather than broad demographic data.
According to an Epsilon survey, 80 percent of customers are more likely to buy from a company that offers personalized services. Also, Smarter HQ says that 72 percent of consumers only interact with personalized messaging.
Meanwhile, marketing automation is a type of software that automates repetitive marketing tasks. To save time and provide a more personalized experience for clients, marketing departments can automate common operations such as social media posting, email marketing, and even ad campaigns.
According to an Invesp study, marketing automation can boost sales productivity by 14.5 percent while lowering marketing costs by 12.2 percent. Eighty percent of users who used marketing automation software reported an increase in lead volume and 77 percent saw an increase in conversions.
- Omnichannel marketing isn’t just jargon.
Omnichannel marketing is more than a buzzword; it’s a more effective technique to reach customers and provide better service. Omnichannel marketing refers to providing a consistent customer experience across all devices and channels (mobile, email, social media) so that customers can acquire what they need from you at any time during their relationship with your company.
Some companies that have successfully incorporated omnichannel today include:
- Bank of America
- Singapore Airlines
- Hyper-personalized marketing campaigns will make waves.
Campaigns in the traditional marketing era were largely based on targeting as opposed to personalization. The goal was to reach as many people as possible with a message that they could relate to. What we are seeing now is a shift from mass communication to hyper-personalized marketing campaigns where brands can deliver personalized content at scale while also improving the customer experience.
As marketers, we will be able to do things like:
- Discover consumer behavior patterns and forecast what they’ll want in the future.
- Customize offers based on location or time of day (examples include discounts based on location).
- Artificial intelligence and machine learning are tools that help marketers do their jobs better.
Needless to say, Artificial Intelligence (AI) and Machine Learning (ML) have greatly impacted the marketing we know today. They are tools that assist marketers in performing their duties more efficiently. AI encompasses any technology that uses a computer’s learning and problem-solving abilities to solve problems. In machine learning, algorithms are used to learn from data and make predictions based on past behavior.
A few examples of how these technologies have been applied in marketing include:
- Choosing commercials that will work well in an advertising campaign
- Identifying consumers likely to buy a product or service
- Automating tasks previously performed by humans, such as reviewing online reviews before they are published
- Voice technology will become ubiquitous in marketing.
The next big thing in digital marketing is voice technology. Although voice assistants have been around for a while, 2019 was the year when people began to realize that they actually did more than play music or order pizza. In 2020, they played a more prominent role in helping consumers find relevant products and services.
With voice assistants like Siri, Alexa, and Google Assistant, brands are already offering personalized experiences by using voice technology. Moreover, these devices can connect with other devices, such as home security systems, so that users can control lights, temperature settings, and other appliances with just their voice commands.
By this year, you will see more brands adopting similar strategies because they realize how important it is to deeply connect with customers with these tools, regardless of whether new products or services need to be designed for them.
- Data lives at the center of AI and ML, which means data volume and quality will be increasingly important.
Data is undeniably at the heart of AI and machine learning. Data is essential for training AI algorithms and creating insights, so it’s also important to understand how customers engage with your company. One of the major drivers of ROI in marketing today is knowing who your customers are and what they want. The more you know about them and what they want, the better you can give personalized content at the correct time.
To attain this level of hyper-personalization, you must first determine how much data you have: Where is it? What format is it available in? What is your financial situation? How reliable is it? These are important questions to ask since the answers will impact whether or not an AI solution will work on your website or in your email program. They’ll also determine which models are appropriate for specific scenarios (e.g., predictive models versus classifiers).
The next trend affecting marketing today is that data quality is improving as organizations embrace machine learning techniques such as artificial neural networks (ANNs), deep learning, and reinforcement learning systems.
- Video isn’t just a trend—it’s an expectation.
Video is the most engaging kind of material on the Internet, and it is rapidly expanding. Despite the fact that the average user watches over 100 videos each month on their preferred devices, only 23% of businesses use video marketing as part of their overall strategy. Video has the highest retention rate of any sort of content, with 95% of viewers recalling what they saw three days later. If you aren’t using video in your marketing efforts now, it may be too late in 2023!
What are the benefits of including videos in your social media posts? Posts with video:
- Maintain a stronger presence on social media.
- Increasing your visibility and engagement
- Make the experience of your viewers more personalized.
- Boost your search engine rankings.
- They are gaining in popularity across all platforms.
- Make an effort to stand out.
- Interactive content takes on new forms that challenge preconceived notions about what people want to see and do.
Basically, interactive material necessitates active participation from the audience. In this regard, the individual becomes more than just a passive observer; he or she becomes an active participant in a dynamic system, thus paving the way to a two-way interaction.
A video isn’t the only type of interactive material. A game, a quiz, or an infographic might be used to provide interactive content. It’s not interactive in the sense that you have to interact with it to watch it; you can also explore the experience using text—but it does raise questions about what people want to see and experience.
Interactive is seen as a way for brands to obtain an advantage over their competitors. In the latest SnapApp survey, 88 percent of marketers said that interactive content is beneficial in differentiating brands from competitors. Audiences are more demanding than ever, expecting all content to be interesting, relevant, and available at all times on any device.
- There will be more digital audio advertising than ever before.
Audio advertising on the internet will become more popular than ever. Let’s take audiobooks as an example. The global audiobook market is expected to grow at a CAGR of more than 19 percent between 2022 and 2025, reaching $1.23 billion. By the end of 2025, the year-over-year growth rate is expected to be 16.12 percent.
When done correctly, audio advertising is indeed an excellent way to reach your target demographic. It’s also a terrific way to interact with your audience and communicate with them in new ways. Audio advertisements can reach niches or audiences that would be difficult to reach through standard marketing methods. Finally, more individuals than ever before are listening to podcasts and other digital audio on their phones and other mobile devices—which means they’re probably using their phones while shopping!
- Snap has emerged as an effective social media marketing platform.
Snapchat is a visual platform as well as a social networking site. Snap is a mobile-first, ad-supported platform, which means that advertisers can utilize it to reach their target audience through brief films and photos.
In fact, Snapchat has 332 million daily active users worldwide as of the first quarter of 2022. According to a recent report by Statista, this is up from 306 million in the third quarter of 2021.
Furthermore, users of Snapchat interact with brands more than users of any other social media platform which gives businesses additional leverage on this social network to sell their products and services more efficiently.
Good is no longer sufficient. If your marketing strategy can’t be broken down into specific, quantifiable targets, it won’t be taken seriously by investors. In a world where artificial intelligence is rapidly transforming every business, you must use every chance to improve your customer experience and stay ahead of your competition.
This doesn’t necessitate employing a large workforce or taking out a loan to hire an executive chef; it simply demands smart thinking about how technology might help you improve your business.
Now It’s Your Turn!
Knowing the trends that will transform the face of marketing in the coming years, which will you first incorporate into your business strategy or marketing plan, and why?
Please feel free to share your thoughts in the section below. We’d also like to hear your ideas. Kudos!