Marketing is changing… How and Why?

Marketing is changing… How and Why?

 

Digital marketing has been evolving during the last 4 years dramatically and some people are not paying attention. The changes have been coming in different waves for almost 10 years between 2010 to 2020, and these changes are not going to settle down easily. The marketing future is going to be brutal in the coming years more than any time before. We have been seeing strong indicators of this major shift in digital marketing, yet we have been consuming it slowly or resisting it.

Marketing methodology: What’s going on with marketing?

In the beginning, I had to do my homework and explore what is top marketing experts are predicting. Dr. Dave Chaffey’s in his latest blog the six big 2020 trends, indicated several major areas including lifecycle marketing, conservational marketing, and marketing technology. After exploring Chaffey’s theories, I explored a few more articles by marketing opinion leaders. My conclusion is that marketing predictions are mainly focused on technology, platforms, and channels. I believe we have been in years of jumping between trendy channels and tools without having a solid vision or understanding the strategic objectives of digital marketing.

Al-first approach: It’s been a while that AI and machine learning have been at the top of every marketing trend list, and rightly so. From enabling more accurate, real-time analytics and measurement; improving customer experience and support; optimizing product line pricing strategy to minimizing customer churn, AI and machine learning bring massive benefits to marketing.

According to Forbes findings, 75% of enterprises using AI and machine learning in 2018 were able to enhance customer satisfaction by 10%.

The rise of voice marketing: The increased use of voice assistants has opened a new door of opportunities for marketers. As it allows for contextual interactions with users, voice-enabled technology is being viewed by marketers as a tool that can help them take personalization to a completely new level altogether.

Business Marketing

In 2017, Juniper Research estimated that voice ad spending could reach $19 billion by 2022. While currently there are no real use cases as voice is still in nascent stages, the engagement, target reach, and interactivity potential offered by voice marketing bring a business value proposition too huge to be ignored by marketers.

With Gartner forecasting 30% of all Internet searches will be done without a screen by 2020, marketing gurus are placing huge bets on voice being the future of marketing.

Virtual Reality will make a big impact: As marketers continue to look for tools to offer more engaging, interactive, and personal experiences, virtual reality emerges as a clear winner.

By allowing for engaging storytelling, virtual reality enables users to connect with a brand with emotional intensity unimaginable with traditional media. It places the brand closer to the customer and reinforces brand loyalty.

Leading automobile makers and smartphone manufacturers are already at the forefront in using virtual reality for delivering 360-degree interactive experiences. By 2025 as the Virtual Reality market continues to boom (from $7.9 billion in 2018 to $53.6 billion in 2025 as per MarketsandMarkets research), virtual reality will become the standard part of a marketing campaign. 

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