Everyone can all agree that marketing is currently in a transitional phase. The last 15 years has led to an unprecedented level of progress and investment into the digital landscape and business just can’t keep up. In the 2017 State of Marketing report we found High performing marketing leaders say one third of their budget is spent on channels they didn’t know existed five years ago — and they expect that to reach 40% by 2019. With so much uncertainty about the future, how can we prepare ourselves to face the inevitable music when we graduate. From dabbling in artificial intelligence (AI) and using data and authentic content to build a brand's story, to augmented and virtual reality and chatbots, here’s five trends that I believe will shape the future of marketing.
1. Data, data, data. All marketers are familiar with it, and whether we love it or hate it it’s here to stay for the long run. These days it’s not just enough to be collecting data, rather marketers are always trying to understand and learn from the important data and separate it from the noise. It’s very possible for marketers to use relevant insights to develop smarter, more targeted campaigns. Remember, marketing is all about sending the right message to the right people, so use insights!
2. Virtual and Augmented Reality. A personal favourite of mine and a favourite of many multinational companies looking to improve their customer experience. We’ve all heard of or seen the effect Pokemon Go had on consumers, so how can companies capitalise on this new craze. So we’re going to need to understand how this medium is consumed.
3. Bring in the robots! A new addition to the list of technologies however, artificial intelligence (AI) is starting to gain great traction when it comes to sorting through big data and optimising campaigns. We don’t have all the time in the world on our hands so marketers who can successful integrate AI into the customer experience with chatbots and automation to supplement their customer engagement efforts will be the real winners.
4. More robots. Chatbots. If we didn’t have enough robot stuff already, this one we can already see being implemented from online stores to online banking. Although they’re probably not giving you all the answers right now, through AI and data, they are set to improve greatly in the future.
5. Authentic, original storytelling. And last but not least, good old storytelling. This one has been around since the dawn of time and yet, it’s not going anywhere! Out of our list today, this is the lowest in tech but the highest in effectiveness. If you can spin a good authentic yarn to your consumer and be consistent, you’re doing it right!
Do you agree with our list of the 5 current marketing trends that will shape the future of marketing? Let us know your thoughts and join us at our next event, The Future of Marketing on the 1st of September! Get your tickets here.