A massively changing landscape that we all witnessed was with Marketing Industry in 2019, which is not slowing down in 2020 as well.
With the rising influences and demand on the market, there is a constant increase in avenues to connect with buyers. Everyone is trying to give their bits to society while growing their position in the competition. The demand to bring new content for an audience is delivered in every way possible. Marketers have left no stone unturned to creating brand content that servers people through a mixture of audio and video for this new decade. They have even not left the “old-school” channels, for instance, direct mail, and email marketing. Why? Well, these oldies are still filled with power and are thriving marketing delivering results.
It’s time to take this marketing trend spree a boost and let’s hear some predictions and thoughts of Marketing Experts and know what they’re focusing on in 2020:
Co-founder and CEO, Lob
Direct-to-customer (D2C) companies will drop the use of email as a primary customer communication channel. Leore Avidar believes that with the email unsubscribe rate has touched 40%, it’s time to realize that it’s best to stop using it. D2C companies will approach this fact. Since social media sites such as Facebook, Instagram, Snapchat are increasingly becoming expensive, which has led Brands to think of different measures to revamp their marketing strategies. It’s now a necessity to modernize the traditional engagement procedures. This will not only benefit the company to gain more revenues but also help to maintain a customer’s loyalty towards your brand. They would have to come up with unique ideas to market their objectives and goals for extensive customer engagement. Avidar believes that testing and personalization in the era we are living in commands D2C organizations to thrive for new opportunities and available options. They should adopt new channels that offer direct relationships and drive engagement.
CEO of ThoughtSpot
Sudheesh Nair’s thoughts for this year’s marketing trends revolve around Artificial Intelligence. He believes that AI is going to get noisier than 2019, but 2020 won’t be enough for the AI to show it’s a real revolution. He alerts the companies to be prepared the revoking changes that AI is going to bring in 2020. 87% of companies have already adopted AI to enhance their email marketing strategies. Mostly Privately owned start-ups and other companies will progressively tout their brand as AI companies are ready to steal away the most VC dollars. Mr. Nair thought that companies upgrade their marketing plan with an AI spin to impress shareholders. All they want to hear is the success stories, and that what most public companies are feeding them.
Since the AI market is expected to reach a revenue of $118.6 billion by 2025, Worldwide, Sudheesh believes that 2020 going to shape the figure of AI while bringing a hint of disillusion between marketing and reality. He views that this year, companies would need to invest in infrastructure that is capable of AI continually. There should also be APIs to connect data to prepare and feed algorithms.
co-founder and CEO, Qubole
Mr. Ashish Thusoo imagines that finance governance could become a cloud’s top priority. Cloud benefits for dexterity and modernization, but many organizations worry its cost might spiral out of control if not managed well. In this year, according to Mr. Thusoo, we will witness an immense emphasis on financial governance in the Cloud. CTOs are already familiar with their Cloud ROI and have separate departments accountable for their cloud usage. This indicates that focus on tools vital to calculate the cost it would take for the cloud storage & compute. It is also important to give detailed sight on the mechanisms for every single BUs and department in order for them to be held accountable for their usage.
Gregg Johnson brought a new concept to the table that customers will prefer software vendors to ensure compliance. With the introduction of new regulation like CCPA and GDPR increasing with customer demand privacy of their data, will change the methodology of companies approach compliance in 2020. This will be an additional feature that would be a prime factor in the market. This will indicate that it will no longer be necessary to be a duty of IT to tick off from. Software vendors will promote compliance as a service, and evidently, the users will lean heavily. This will turn out to be an ever-changing regulatory landscape.
Founder, Neil Patel Digital
Neil Patel is an eminent name in the list of Digital Marketer. His thoughts on 2020’s marketing trends include many innovative theories such as automation, communication channels, personalized new market, multiple marketing channels and more. Many companies are giving AI a trail spin to make SEO and other forms of marketing more efficient. He mentions how companies can use tools like BrightEdge. He tells if you want to increase your Margin gain, then there is no point wasting time on finding the “Holy Grail of Marketing” and rather invest time in mildly improving each area of your marketing.
He says, “The problem with marketing as it exists today is that 95% of your visitors will never convert into a customer.” He points out that the reason for this is that a single marketing plan doesn’t fit everyone else. The solution to this problem, suggested by Mr. Patel is Personalization. He had given an example of how Amazon has personalized messages and suggest, by analyzing your activity on their website and app.
Mr. Tom Buiocchi brought our attention to a retail trend: “Hyper-Local” marketing will be the next step for the retail industry and services of all kinds. Before moving ahead, let’s us brief you about hyperlocal marketing:
Hyperlocal marketing is a method to target your prospective customers, specify to the geographically restricted area they are in. It could be as near as a few blocks or streets away. They aim to target people who are browsing for “near me” search results on their mobile devices.
Big retailers are already shifting from super-stores to local outposts. They want to connect with people and therefore turning to areas that feel more like a part of the community. The factor of location holds paramount importance for the ubiquitous delivery of anything. Many stores are now relocating to the shopper prone area of their business. Healthcare is also included in this marketing scenario. Tom aspects to see more of the core medical services offered at pharmacies or even intended based locations. Mr. Buiocchi says that retailers can de customers a convenient and efficient experience.
Co-founder and CEO of Pendo
Mr. Olson proposed that product usage metrics will share a position for financials. They will become an indicator of a business’s integration and potential growth. With this continues, the company will be able to compare expectations, while measuring delaying IPO filing, metrics inflates numbers quantifiable that. With product usage metrics, they can choose not to file, and not only this, but they would also gauge customers’ engagement, their reaction to it as well. Sooner the investors can discover such trends; sooner, they can invest.
CEO of Airship
Controlled Apps are going to a new level in this new decade. As per the thoughts of Brett Caine, the owner of Airship, that controlled apps are going to rock this year. There are many competitors on the battlegrounds who spend thousands, and tens of thousands to test and experiment with new technologies in the market. He had given examples of Netflix and amazon; about how Netflix was aimed to deliver people the content they wanted faster. They had created a 25 billion business for Amazon when they too experimented in launching Amazon Web Services (AWS). The factor that was universal in all this competition of every market and mainstream recognition game was customers’ experience and the company’s product or services. Marketers would happily double-down experimenting based on customer engagement channels and digital components. It is always favorable to test and optimize to break down such decisions with data validation, rather than to make bets on large initiatives.
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