Marketing technology is continually evolving at a rapid pace. This means that businesses have to be on the lookout for new trends, as opposed to relying on what worked in the past. With emerging technologies like machine learning, voice search and artificial intelligence beginning to establish themselves permanently, the demand for marketing analytics is getting louder. According to statistics,
- In 2016, technology occupied 33 percent of the marketing budget.
- The number of devices connected via IoT will grow to 75 billion by 2020.
- 50 percent of consumers will be interacting with voice-activated technology by 2020.
- Two-thirds of smartphone users purchase from companies whose mobile apps and websites customize information to their location.
Here are some of the top trends in marketing technology for 2018:
Polls show, 61 percent of consumers trust a company that creates customized and individualized content. Part of the process for intelligent personalization is the building of content that is both smart and dynamically rich. Moving away from the ‘one-size-fits-all’ philosophy is key toward understanding consumer personalities and achieving marketing success. Direct conversations peak consumer interest, that translates into a relationship with your business. Customers who feel that your content meets their needs will be inclined to purchase in the future, thus demonstrating loyalty as well as promoting your business.
Example: Netflix is a great example of how cutting-edge personalization strategies bring in profits. The company routinely sends recommendations by identifying users’ interests from their viewing history. These recommendations reduce churn, as well as offer other viewing options to users. The recommendation system saves Netflix an estimated $1 billion every year.
Crunching Big Data Together
In 2015, the White House hired Silicon Valley veteran DJ Patil, as the country’s first US Chief Data Scientist. It was a move that highlighted the power of Big Data, and the role it played in driving innovation and understanding the American consumer.
To accurately predict what content will best attract and engage customers, there is a need to first identify buying patterns, and accordingly respond to those potential buyers with personalized content that will influence their purchasing decisions. Pooling together the right data requires the business acumen of data scientists, individuals who are comfortable with the quantitative equations behind market technology campaigns. They examine chiefly three types of data measurements:
- Intent Data: Data collected from prospective buyers before they directly interact with your business, such as keyword searches and websites visited.
- Behavioral Data: Data collected from prospective buyers engaging with your business, such as content viewed and emails opened.
- Fit Data: Demographic data collected about prospective buyers, such as credit score and company size.
Social Media Influencers
Social Media plays a powerful role in having both a personal and active connection with customers. The photo-sharing media platform Instagram for instance, has over 600 million users. 50 percent of these users follow at least one business. Capitalizing on such social behavior means being a part of nearly 95 million photos and videos shared every day. That is a huge marketing opportunity to tap into.
Research shows that people trust recommendations over any other form of marketing. Getting in touch with Influencers, Instagram users with a large following, is an excellent SEO strategy to enhance the authenticity and credibility of your brand. If a celebrated food blogger posts a picture of herself digging into Shepherd’s Pie at your restaurant, there is a high probability that her followers are going to check out your Instagram profile, your restaurant website, and even the Shepherd’s Pie in your restaurant.
Visibility with Native Ads
Nothing is as irritating and disruptive to a user than an ad popping out of nowhere while browsing a website. This situation is best resolved by native ads, advertisements that blend seamlessly into the browser environment while allowing businesses to market their services and products in a non-disruptive manner. By presenting the right information when a user actually needs it, businesses can opt for instant content, search advertising, recommendations and sponsored listings.
The demand for native ads has rapidly risen in contrast to traditional advertising, because they drive brand lift and consumer engagement. With viewers spending as much time on native ads as they do on editorial content, native advertising is predicted to drive more than 74 percent of ad revenue by 2021.
By using technology to create targeted marketing, businesses are able to use consumer data to enable meaningful customer interactions. Now is the time to start planning your company’s digital marketing success for 2018. For more information, please contact us.