2020 Global Marketing Trends You Should Take Note Of!
Digital marketing is driving today’s marketing environment, making it vital for every business to be focused on digital marketing’s global marketing trends.
If you’re wondering why you need to pay attention to global marketing trends…
Well, it’s because your consumers are highly driven towards technology and are on a par with these current trends. Consequently, if you’re not keeping up with digital marketing, you’re not only falling behind — you’re losing customers.
You may be familiar with some of these budding trends such as Artificial Intelligence, Augmented Reality, and Video Search Engine Optimization (VSEO). Many of these new digital marketing advances offer an excellent platform to experiment with for innovating customer interactions and increased revenue.
Brian Solis says it best,
“Each business is a victim of Digital Darwinism, the evolution of consumer behaviour when society and technology evolve faster than the ability to exploit it. Digital Darwinism does not discriminate. Every business is threatened.”
Therefore, do not make the mistake of sticking to old methods when they simply don’t work anymore. Move forward, stay ahead of the curve or fall by the wayside.
If you’re ready to move forward, let’s take a look at some of the latest global marketing trends that are going to rule 2020.
1. Artificial Intelligence
Artificial Intelligence is slowly becoming the heart of every business as it helps them to understand consumer behavior and patterns in-depth. We can also observe Artificial Intelligence being widely implemented in categories like product recommendations, content creation, Email personalization, E-commerce transactions and more.
One of the noteworthy examples of AI is Chatbots which utilizes natural language processing software to decipher customer preferences and responds in real-time.
According to Techgrabyte,
“Artificial intelligence is the biggest commercial opportunity for companies, industries, and nations over the next few decades” and “will increase global GDP by up to 14% between now and 2030,” which means that “AI latecomers will find themselves at a serious competitive disadvantage within the next several years.”
2. Programmatic Advertising
Programmatic Advertising facilitates automated ad buying that helps businesses in attracting a wider audience worldwide. This automation is quick, efficient, and ensures higher conversions and lower customer acquisition costs.
In simple words, programmatic advertising is nothing but real-time bidding. An individual clicks on the webpage, the publisher puts the ad for auction, the person willing to pay the highest wins the right to display his ad, the ad is then delivered to the prospective customer and when the customer clicks on the ad, the advertiser coverts them to sale and obtains profit. As simple as that!
According to the statistics by eMarketer, 86.2% of digital display ads in the U.S. will be programmatic by 2020.
3. Conversational Marketing
If you look deeply into the nature and functioning of current market trends, you will find that all of them are brand focuses which means a move towards a more personal and conversational tone. Conversational marketing initiates a one-to-one, real-time connection between marketers and customers. The prime objective of conversational marketing is to enhance user interaction and experience by offering instant solutions that foster high customer engagement and loyalty.
David Cancel, Founder, and CEO of Drift says it best,
“Today’s buyers expect to find what they’re looking for now, not later. As we prepare for the future, it will be more important than ever for businesses to be available across a broad spectrum of channels, and to make sure you’re communicating the way people prefer to communicate.”
By personalization we mean, personalized content, products, emails and more. Personalization is extremely crucial for website marketing especially, in 2020. Let us tell you why!
- 63% of consumers are completely annoyed with generic advertising blasts.
- 80% say they are more likely to do business with a company if it offers personalized experiences.
- 90% claim they find personalization of content highly appealing and intriguing.
Did you know?
Starbucks uses a gamified mobile app that draws on data like purchase history and location to get as personal as possible, allows customers to customize their drinks, and encourages further use with its rewards system. This has helped them tremendously in increasing its revenue to $2.56 billion.
You can see this personalization across industries online. Take, for instance, popular online casinos like Monster Casino, Black Spins and Cosmic Spins. All of these online casinos were quick to tap into personalized promotions to entice the players to keep coming back. One such game is the Blackjack professional series high limit bonus; which offers free bonuses tailored to the user — very effective in keeping customers coming back for more!
5. Video Marketing
Video marketing is a digital marketing trend that has steadily been growing over the past 5-8 years. In terms of increased revenue, it has probably been the biggest. Wondering how and why? Here’s the answer!
Given our extremely tiring routine, we hardly have time to go through the fine print word by word and so, prefer listening or watching instead, Here is where video comes into play.
- 70% of consumers say that they have shared a brand’s video.
- 72% of businesses observe that video has improved their conversion rate.
- 52% of consumers say that watching product videos makes them more confident in online purchase decisions.
- 65% of executives visit the marketer’s website and 39% call a vendor after viewing a video.
For effective video marketing, it is important that you understand what type of audience you would like to attract, your business objective, niche, and purpose. Depending on these factors, you may choose your kind from the different types of video marketing tools that include live video, 1:1 video, and 360-degree video content to mention a few.
Ian Schafer states that, “Innovation needs to be part of your culture. Consumers are transforming faster than we are, and if we don’t catch up, we’re in trouble.” The above-mentioned digital marketing trends, if followed religiously, will certainly help you gain substantial business exposure thus helping you optimize your business effectively and fulfill your business objectives. Keep in mind, hard work definitely pays but not without smart work involved.
So, go smart, go digital! Happy marketing!