What Are The Recent Trends In Marketing?
Digital marketing merely put is the marketing of products and services through digital channels. However, when we go beyond this simple definition, digital marketing is a very dynamic field. A digital marketer has to be well versed with all the latest trends in the industry to gain the maximum benefit by reaching a larger customer base and converting leads into clients by making use of various digital platforms.
According to statista.com if we look at the recent trends in digital marketing spend in the superpower, United States of America, it has grown from 57.59 billion U.S. dollars in 2014 to 94.59 billion U.S. dollars in 2018. This number is estimated to reach 103.37 billion U.S. dollars in 2019.
The current marketing trends that have a global appeal are:
This will help companies better understand their customer base. Through artificial intelligence and machine learning, companies will be able to analyze and understand the consumer’s buying behaviors and patterns. Based on these results they will be better equipped to meet their demands. Business organizations across the globe have already started adopting functions like Conversational commerce or speech/text recognition, programmatic advertising and market forecasting that help cut cost and provide greater speed and accuracy in the long run.
This is an Artificial intelligence based digital marketing technology that helps companies drive conversations through instant messaging in real time. Chatbots are highly efficient in delivering the product details to a customer online and can also keep a track of the customer’s likes and preferences, based on which their experience can be customized. Using chatbots eliminates the scope of an error by a human handler and can really accelerate the decision and buying process as everything would be automated.
Your customer today needs to be delighted while using your products and services which should be tailor-made to cater to their needs and wants. If your campaigns are highly customized your target customers would show greater interest as it would easily strike a chord with them. Brands across the globe are adopting this practice which makes their marketing more conversational and friendly rather than mass produced and product oriented. Amazon Global has been a pioneer in mastering this form of marketing be it on their e-commerce website or their prime subscriptions which recommend products and services based on your past choices and preferences.
Reports carried out by leading agencies and consultancy firms claim that by 2019, 80% of all web traffic will be driven by videos. Presenting your content in a visually engaging manner makes your product look interesting and as 64% of the customers have said that they are more likely to purchase a product once they’ve seen a video about it. Youtube is not the only video destination, with features like Facebook Live and Instagram live, your brand should be able to engage with customers across all platforms and engage with them frequently.
Influencer marketing is one of the most recent trends in marketing. It is a collaboration of the brand with the experts in any field and then using their expertise to your advantage to talk about the benefits and functions of your brand. These influencers are aces in their respective fields and their loyal fan base attaches great credibility to their opinions and judgments. A modern form of word-of-mouth marketing, influencer marketing is all about trust which helps a brand build a positive image indirectly via the influencer.
Social media marketing
Social media is now the ultimate hub for people to watch, view, discuss, criticize, review and promote anything and everything under the sun and also beyond it. The most abstract of subjects will also manage to find a taker on social media. With about the entire millennial population on various social media channels, it has become their prime source of data consumption be it news, sports, politics or fashion. These numbers are expected to grow by leaps as the world swiftly makes it transition into a completely digital era. Social media channels hence have become the prime tools for reaching the target audience as proved by various social marketing trends.
To give the customer a seamless experience brands are turning to Virtual reality to add the ‘Wow’ factor in which a consumer experiences a brand. With the use of Virtual Reality, brands will use high-end graphics, as well as audio and aural inputs to help users interact and in some cases design and manipulate the way they interact with their surroundings.