what is the essential marketing trends for 2020? How do tools, digital media, new technology platforms promise to open up interesting marketing trends and opportunities for businesses by 2020?
2020 is coming very soon, we can realize the great impact of Digital Marketing on the market. As for the advertising platforms, according to the prediction chart of eMarketer page below, Facebook and Google Facebook and Google continue to monopolize the dominant pay-online media investments, but it can’t be denied that the use of offline media is even more important to many larger brands.
Trend 1: Lifecycle Marketing
Although many people consider the “marketing funnel is out of date” because consumers are following non-linear journeys, no matter what product or service you participate in marketing, this is just one of the methods to grow the business. But remember that your main focus is still to increase brand awareness in your customers, which means increasing the potential customers.
This focus is reflected in the latest Digital Marketing Altimet / Prophet report, which shows the main purpose of Digital Marketing strategies is to increase brand awareness among users.
Digital’s role in creating a consistent customer experience is also very high, but the most noticeable thing is that Digital Marketing cannot create the driving force for sales from existing customers. From this we can ask the question: So, is Digital Marketing effective in achieving all goals, including customer retention?
A more practical way to plan on integrating online marketing with marketing activities is that you should consider customer perspectives through customer journeys. This is “Lifecycle Marketing” and you should review the use of combined online media offline throughout the customer lifecycle.
Below are statistics on the use of marketing activities by a B2B business. Thereby, we see that although leading in the activities being used by the customers, but businesses are poor in nurturing customers located between and under the funnel, and re-targeting activities. Many businesses are applying, implementing marketing automation and “Account-based Marketing” (ABM – Marketing focused on each specific customer).
Trends 2: Conversational Marketing
This is one of the most interesting trends in current marketing trends. Through behavioral likes of human conversation to capture personal information and allocate personalized ads appropriately on a large scale.
Conversational Marketing opens a new era for Marketing – Conversational Marketing is about conducting a real discussion about what customers want and the recommendations that retailers make to meet customer needs.
You can see that today is the era of technology, more and more new technology has been invented, many technologies are not expected to become a trend in the next 5 to 10 years. According to the chart measuring the development of digital marketing and advertising in 2019 by Gartner (the world’s leading information technology research and consulting firm) below, showing three important factors that most marketers can refer to among the marketing trends that are predicted over the next 2 to 5 years are personalization, real-time and conversational marketing.
By combining marketing techniques through direct communication with customers and cleverly using customer information to communicate with them, Conversational Marketing meets all three criteria. Once again Marketing is taking a new era with the introduction of a new form called Conversational Marketing.
Gartner explained:
“The technologies of Conversational Marketing allow businesses to be proactive in participating in the interactive marketing process through communication.”
Trends 3: Insights-driven Marketing
There is a need to speed up the process of analyzing data and using information to promote business efficiency and optimize results from digital marketing.
Businesses are trying to use this logistics approach to achieve the desired benefits, reported by Mckinsey’s research showing:
Users that use tools to analyze customers’ insights are 23 times more likely to attract new customers and are 9 times more likely to convert these customers into loyal customers than their competitors.
Red Bull used the Vision Critical insight platform to create an energy-loving consumer community. By providing them with deeper insights into this hobby, the community is becoming increasingly influential. To do this, businesses must understand and capture the information, behavior, manner and timing of purchases of customers using Red Bull. Data from the community will provide insight into the competitive landscape, revealing channels that the company can strengthen to improve growth. The community also helps Red Bull bring more value to retailers.
Marketing Technology Trends – essential marketing trends for 2020
Today, Marketing Technology (hereinafter referred to as Martech) can be understood in the simplest way as the consistency between technology and marketing activities. According to John Koetsier, a market analyst – Forbes magazine, MarTech is a collection of solutions and technology platforms serving businesses in the process of building marketing strategies, promoting products or brands to target customers.
If your business or organization properly applies the integration of Martech, it may give you an advantage over competitors, but if not, you may miss out on a lot of knowledge and process automation that they are using.
The latest Martech 2019 masterpiece from Scott Brinker, an expert who hosted Martech conferences and consulted this technology for HubSpot, created a seemingly scary map of all the catalogs and potential services that every business can use.
To highlight the range of services available and to simplify the options a bit, we have designed the following necessary Digital Marketing tools and platforms to suggest you a list of tools that you should look on the system. From there, it is easy for an enterprise to plan details and highlight the most popular, most relevant tools.
Trends 5: Consumer Privacy Law and Customer Understand (KYC)
Repeated breaches of privacy by Facebook, Google and other brands’ privacy breaches have led to the disclosure of customer information that has raised a warning that consumer information data providing online brands is not as secure and secure as they once thought. Privacy regulations such as GDPR have been enacted to protect data privacy and increase penalties for violations.
The record fines from 2019 for GDPR violations are up to 20 million euros (£ 17.5 million) or 4% of global sales.
The national airline of the United Kingdom, British Airways, was informed of the proposed fine of £ 183 million for violating customer data privacy regulations and a fine of £ 99 million for the Marriott hotel chain for failing to protect the personal data of 339 million customer records.
Although this may be a concern for the positions of CIO (Chief Information Officer) or CFO (Chief Financial Officer) rather than CMO (Chief Marketing Officer), this requires the coordination of Marketing Department and other parts to minimize the potential impact of privacy, security breaches and to reassure customers’ trust in the brand of the business.
At the same time, the effectiveness of traditional identification methods is declining, such as using cookies to collect information from users, which makes determining ROI, arguably one of the key benefits of Digital channels, become more difficult. To optimize the best ROI conversion rate is not simply a matter of administration.
Current emerging technologies have the potential to help businesses improve these two issues.
New identity management systems or KYC processes – “Understanding the customer” are being developed that can both increase security, reduce fraud, and improve customer understanding across multiple devices.
Simon Kelman, HooYu’s Director of Communications and Marketing, a UK fraud and identity verification technology company, believes that it is necessary to focus on conducting KYC checks not just by enforcing ID documents visually or with feeling. Businesses should outsource a KYC expert like HooYo to be able to detect fake cases in real time by checking the database (if any) along with ID document authentication, footprint analysis, geolocation and face biometrics to add confidence in customer portraits.
With consumer concerns besides the new law on information security
The EU ePrivacy is about to be released, increasing the level of errors in online tracking along with restrictions built into browsers such as Chrome and Safari, suggesting that it seems to be the use of cookies (especially third-party cookies) and electronic fingerprints about to be removed. It means that businesses should consider other alternatives if they do not have.
Discussion of Unified ID – Why “identification” became such an important success factor after the cookie era – Alwin Viereck, United Internet Media’s Manager of Advertising and Programming Advertising, estimates that:
”More than 20% of all cookies on a PC do not survive longer than a day and more than 15-20% cookies do not exist in a month. For vendors of third-party cookies (usually all people who participate in the programming ecosystem), this problem can get even worse.
Multi-platform acceptance solutions such as Sourcepoint integration solutions, identification and access management solutions such as Auth0 and OneIdentity will be applied more widely in the future.
Trends 6: Digital transformation and marketing conversion – essential marketing trends for 2020
essential marketing trends for 2020, Our digital marketing research management reveals many of the challenges that exist in the way digital marketing implementations are run in businesses today. Issues include a lack of focus on integration strategies, testing, optimization, and structural issues such as silo teams or lack of skills in integrated communications.
To prevent these problems from happening and make the most of business development opportunities through digital marketing, many businesses are now adopting digital transformation programs.
The purpose of digital transformation is to develop a roadmap to improve digital skills, while integrating ‘always’ digital marketing activities in tandem with brand and product marketing. products in the business.
The chart above from the research shows that many businesses are actively converting to try to achieve their goals.
essential marketing trends for 2020, 2020 is an exciting time for opportunities for cooperation between Marketing with developing new technologies and gradually changing the perception of businesses today. Marketing trends in 2020 are not just marketing ads, but they also bring greater functionality from customers’ shopping journey experiences to newer content forms.
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