Marketers will be expected to be taking complete control of customer experiences over the next few years. Here, marketing recruitment specialists, Stopgap looking at here are some trends you need to know.
The Economist Intelligence Unit asked the 499 (it makes you think they were hoping for 500) Senior Marketing Executives and the Chief Marketing Officers about the way they expect marketing to evolve. They also conducted a bit of one-on-one and in-depth interviews from the leading brands like JPMorgan Chase and Unilever. They were in search of finding out about the key trends and technologies that will drive changes within the marketing industries in the four years to follow and the overall results have made for a very interesting read.
Below we have provided a summary of a few of these key results for marketers. If you would like to see our full report, it is possible to download the report when you sign up.
The Most Popular Tech Trends for Marketers
The chart that you see below comes as no surprise at all in several ways. Mobile has already been one of the significant marketing trends for several years already and is made up of more than 50% of Web traffic. The Internet of Things is slightly more exciting and newer, yet at this stage, it is not yet clear how this will have an impact on marketers. There are already many predictions and opportunities, yet anyone who claims that they are sure of how IoT will affect your marketing for 2020 is either profoundly misguided or lying.
Personalisation technology is also nothing new, yet with the data amount now made so readily available to companies, CMOs (Chief Marketing Officers) have started to understand that personalisation and opportunities have come into their own. For example, Geo-Targeting is only the beginning, and should not be seen as your main objective. The marketers that are more advanced need to be developing statistical models to determine what indicators will mean that customers are showing an interest in specific products and to then serve them accordingly.
One of the ground-breaking and newer technologies associated with marketing that has become apparent here is the blockchain technologies, yet once again it is still unclear how this is going to evolve by the year 2020. Implications surrounding the intellectual property, law and banking are beginning to be realised, yet how this will become useful to the marketers is still not clear.
Another trending topic includes AI (Artificial Intelligence), especially since Alpha Go AI from Google beat the Go world champion. Combining content personalisation with AI will provide some phenomenal opportunities for different marketers, and is something that those who have the abilities to test and experiment with should be looking into.
The Primary Channels in 2020
If you are like me, when people start talking about 2020, it still sounds like it is far away. Were we not supposed to have flying cars, mind-reading computers, and robotic butlers by 2020? Or at the very least our own moon base?
Yet in reality, these things are not that far away at all. Think back to 2012. That date doesn’t feel so long ago. Yet what I am trying to say is that a lot more years have passed since 2012 than the time it will take to reach 2020. It becomes easy to slip into that way of thinking that the “future” is always going to be a couple of years off, and before you can blink an eye you will already be living in 2020. This may mean that your overall marketing methods have already fallen behind.
So keeping this in mind, take into consideration what the CMOs are predicting to be the primary marketing channels in relation to their companies in 2020. Social is in the number one position, while the mobile apps along with the mobile web come in at 3rd and 4th position. Is this a reflection of your present investment priorities? Investing in the future channels today will make sure you never get left behind.
How to Measure the Effectiveness of Your Marketing Efforts
Marketers are in many cases viewed as having a hard time reviewing how effective their campaigns are. To be fair, they are not entirely to blame. It is very difficult to demonstrate that an increase in sales is a direct result of the latest ad campaign, changes made to messaging on a site or perhaps it had to do with a significant push or effort made by a sales team.
Yet digital technology has offered significant opportunities to provide a far more precise way to measure the key metrics and to determine how marketing is affecting sales. Calculating ROI which is extremely important can only be made possible if you have data that is accurate on what drives conversions and traffic.