The digital marketing industry is constantly evolving as consumer habits and demands shift with the release of new technologies. For the first time ever, mobile advertising dominated web advertising, controlling nearly 75% of all ad spend. Not only is mobile where most people spend most of their time, but it is also where they purchase most of their digital purchases. This trend should only increase as smartphone and credit card penetration rates increase across the developing world.
For the global marketing industry and entrepreneurs, data and automation will continue to be an important piece of the puzzle and should be a core area of focus for business owners. Below is a full list of marketing trends to keep your eye on.
1. Influencer Authenticity
Content demands across the consumer landscape have shifted to wanting a more personal and authentic interaction with both brands and influencers. In fact, 58% of people have bought a new product in the past six months because of an influencer’s recommendation. With Instagram on the verge of removing likes, the influencer market will need to focus more on authenticity and product-market fit. This should increase the level of quality in the content provided.
2. Video Content
Video content is now the holy grail of content marketing. Stories, as seen on Instagram and Facebook, have single-handedly crushed competitors such as Snap. Given the vertical distribution of content and commerce on these platforms, creators and brands can leverage Stories to interact and sell. This also gives advertisers the ability to market “live” within these segments. Researchers have also shown that people spend most of their time watching live videos as compared to pre-recorded ones. So the implication of that in marketing is something we can see in 2020.
3. VR and Augmented Reality
Virtual and augmented reality have emerged in recent years. In the coming years, it is expected that augmented reality will be surpassing virtual reality, eventually booming into a $198 billion industry by 2025. Marketers can leverage augmented reality to highlight promotions in real-time as well as simulate a shopping experience remotely. With just a smartphone, people can be transformed into a digital experience that can be leveraged for commerce, education, and more.
4. Google Ads Smart Bidding
Google Ads smart bidding entails the process of using machine learning and contextual signals to make smart recommendations that will enhance Google ad profitability. Various strategies include enhanced CPC (cost-per-click) and conversion maximization. Companies need to make sure their marketing strategies and goals align with smart bidding. In some cases, manual management could be more effective. Keep an eye on smart bidding in 2020 as more companies explore this feature.
5. Proprietary Tech
To date, only, only 23% of businesses have incorporated Artificial Intelligence (AI) into processes and product/service offerings. Most studies have found that the larger a business is, the more likely they have integrated some form of AI. As costs and accessibility to AI become lower, AI continues making its way into more marketing products in 2020.
6. Voice Search
Within the last year, 60% of people have started to use voice search. While privacy is still an underlying concern, voice search is accurate and convenient. These stats should grow as consumers and marketers find ways of interacting organically in various voice forms. We should expect to see various apps and enhancements being built on top of leading IOT and voice search devices in the near future.
7. Mobile E-Learning
The sad reality is that over 71% of workers are not actively engaged in their jobs. To increase this engagement, companies can implement various marketing and technology such as gamification applications. The goal is to create a sense of community and purpose within your organization. Mobile learning has been proven to increase retention and adult learning, so it should be utilized when possible.
8. Social Impact Marketing
As CSR programs continue to become more important, companies will find ways of integrating these initiatives into their existing marketing efforts. As seen with companies like TOMS, social impact marketing and for-profit operations are not mutually exclusive. You should think about ways to integrate social impact activities into your existing business plan to align impact and profit. Doing this will help build a stronger following and brand loyalty.
While not fully comprehensive, these marketing trends should continue and become more prominent in 2020.
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