AFTER COVID-19 – ANTICIPATED MARKETING TRENDS
At Flock, our solutions are always future and consumer led. For us Flockers it is imperative to offer our clients solutions that are fit and well equipped for the future. As the world begins to slowly open up after the disruption caused by COVID-19 and adapt to the ‘new normal’ we have looked forward and outlined some anticipated trends and issues that will increasingly become more important over the next few years in the marketing world.
DATA TRANSPARENCY AND TRUST
Data transparency and consumer trust is a key issue that continues to define the relationship between brands and customers. Privacy breaches and scandals such as those seen by Facebook and Google has resulted in consumers re-evaluating the safety of their online data. Transparent, authentic marketing is becoming increasingly in demand. The Chartered Institute of Marketing in a recent report found 57% of consumers don’t trust brands to use their data responsibly – It’s vital for brands to restore this trust.
DATA SOPHISTICATION
There is vast potential in big data – Marketers must learn how to best optimise and extract valuable consumer insights to target the best and most appropriate content during the customer sales cycle. Data insights can be used to develop intelligent and more targeted campaigns, as well as improve the customer experience. Brands can use a mixture of personal/location/environment data to target customers with the right content at the best time.
AI INTEGRATION
AI and machine learning consistently appears at the top of every marketing trend list to watch out for. Over the next 3 years we expect to see an increase in predictive bots, personalised content and agile learning algorithms. The AI recommendation system that Netflix uses, for example, saves the company about $1 billion each year. Additionally, 75% of what users watch on Netflix come from those recommendations.
5G AND MOBILITY
5G is ushering in a new and exciting era of technology for both advertisers and consumers. The developments in technology that will accompany it will be game-changing and marketers must ensure they take full advantage of this. 5G will facilitate real-time analytics – Faster data access to real-time analytics, allowing campaigns to be optimised and altered in real time. The faster speeds will mean increased accessibility, swifter gamification, and increased location-based targeting. Barcelona is currently trialing urban, citizen-oriented and technological laboratory to validate 5G technologies and services.
HYPER-PERSONLISATION
Hyper-personalisation is the next step in personalised marketing. For marketers hyper-personalisation is no longer just possible but is now a necessity to keep pace with rapidly changing consumer trends. All marketing content (brand offers/messages, calls to action, product recommendations) can be targeted to hyper-specific groups and in different contexts. From discounts to product recommendations, consumers now expect companies to learn and respond to their wants and preferences. Amazon, remains the golden child of personalisation, matching previous purchase habit to shuffle the content so that no two experiences are the same
HYPER-CONNECTIVITY
Advances in mobile technology, the internet and the internet of things (IoT) has resulted in hyper-connectivity. This sharp increase in the interconnectedness of people, organisations and objects has in turn impacted consumer patterns and behavior. More devices connected has seen the rise of gamification particularly for fitness and shopping. To deliver the best results brands must ensure that all channels used are connected to one all-encompassing strategy.
We hope this article has provided some useful insights into the various trends you can expect to see in the world of marketing over the next few years. We have helped prepare a number of our clients to plan and adapt for these future trends, whether it be finding the right future-focused agency to marketing technology support. If you’d like to here more about how Flock can support or you would like to share any of your thoughts please do not hesitate to get in touch with us .
References
https://www.cim.co.uk/more/cutting-edge/
https://www.businessinsider.com/netflix-recommendation-engine-worth-1-billion-per-year-2016-6?r=US&IR=T
https://twitter.com/netflix/status/365577591563882496?lang=en