From print to digital, marketing has changed drastically in the last 10 years and this rapid evolution doesn’t show signs of slowing down. Marketing as we know it now generally relies on SEO, social media, content marketing, PPC or remarketing to gain new leads. However, over the last year, the digital marketing hemisphere has seen some dramatic changes. Here are seven new developments regarding digital marketing that every business and marketer should know about.
Artificial intelligence (AI) holds exceptional future opportunities in digital marketing. Many companies are already depending on the cutting edge features of AI, and many more are following in their footsteps to implement AI in their digital marketing efforts. Forward thinking companies such as Uber, Microsoft, Pizza Hut, and others are already using AI to automate elements within their business.
According to a Gartner analysis, AI technologies will be pervasive in almost every new software company by 2020. AI is one of the most significant commercial opportunities for companies and will increase global GDP by 14% by 2030. In other words, companies that do not adapt to artificial intelligence fast will be at a severe disadvantage within the next few years.
AI can have many benefits in the realm of digital marketing such as analyse consumer behavior, search patterns, and use data from social media and blogging platforms to help businesses better understand their target markets and consumers.
Chatbots are a great example of AI already in use. These virtual assistants use instant messaging to have conversations in real-time with customers. Furthermore, they have exceptional benefits such as outstanding service, meeting customer expectations, automating repetitive tasks and ability to respond 24/7.
Many companies already have the capability to create bots that, with the help of natural language processing software, deciphers what a customer wants and responds accordingly. According to IBM, businesses can save over $8 billion per annum with the help of chatbots by 2022.
Programmatic Buying and Advertising
Programmatic advertising means using AI to purchase or sell advertising space. Automating processes such as buying, placement and optimisation of media inventory. This has many cost saving benefits and also reduces the risk of human error in things such as request for proposals (RFPs), human negotiations and manual insertion orders.
Programmatic advertising generates higher conversions and lower acquisition costs because it’s faster and more efficient. Programmatic advertising also allows the brand to get in front of the right audience with the right messages at the right time. These capabilities mean more precision and personalisation for a more efficient marketing strategy.
Currently around 75% of digital display advertisements are programmatic and that figure is expected to keep growing.
Voice Search and Smart Speakers
Searching with your voice is an essential marketing tactic, especially with the spike in smart speakers in homes all over the world. Voice assistants are smart and convenient with Alexa, Siri and Google all seeing a boost in sales. According to the Digital Marketing Institute, adopting a voice search strategy is not only about staying relevant things. It is also about designing a unique and optimised consumer experience that will nurture relationships and strengthen brand loyalty.
Video marketing continues to be one of great importance to any online strategy. In fact, statistics show that 52% of consumers make their purchasing decisions based on watching product videos.
Today, video includes more than just YouTube and leverages the likes of Facebook, Instagram, TikTok, LinkedIn and more for video marketing. Furthermore, with the ever increasing use of mobile devices, consumers often prefer videos as it can provide the same information in a format that works regardless of the platform.
Content Marketing Is Going Nowhere
Google’s algorithm still favours regularly updated and authentic content. Content helps create relationships between the business and the consumer therefore, builds trust.
It’s important for marketers to continue investing in content. This is due to the value Google places on quality content that users find engaging or informative. In other words, content marketing is going nowhere and will continue to play a big role in driving online traffic to your website and building relationships with them in a real and quantifiable manner.
Related: Content Marketing Tips To Save Time
Omnichannel marketing is the method of employing varied platforms to give your audience a multichannel experience. However, to successfully achieve this brands must present a seamless, consistent message across all platforms. The most effective strategies will have one all-encompassing strategy that each channel works towards.
Technology is changing the way brands communicate with their audiences, and consumers expectations are getting higher. To stay ahead of the curve, it might be wise to invest in some futuristic tech in the near future. Contact us today to see how we can help.