5 Marketing Trends in 2020
Marketing is a very dynamic topic. With the rapid growth of the internet, technology, and social media, marketing strategies have been evolving even at a faster rate. A strategy that works today may not be working anymore next year. Therefore, it’s very important for us to keep updated on the most current marketing trends.
With the new decade just started, here are 5 of the most popular marketing trends in 2020. We have seen all of them gradually develop, but this year will certainly be when they truly take the spotlight among marketers.
As AI plays an increasingly major role in various stages of a business, from manufacture to sales, so has it also impacted the marketing aspect. One of the biggest and growing trends of the year is insights-driven marketing, in which data insights and analytic tools are used to optimize the performance of digital marketing.
Many businesses are focused on improving their data-driven marketing. Not only is this a new way of targeting specific audiences, but it is also more effective in the long run for converting that audience into consumers. This can help you improve customer experience, including preferences for product varieties and even delivery methods.
For example, you can use data and insights to understand how consumers in a certain region or demographic prefer certain flavors of drinks or models of clothes. Taking control and processing your insights effectively will give you a competitive edge while also offering more value for your consumers.
This will also be the year when personalized marketing becomes the norm and standard. Traditional marketing treats consumers as a generic group and doesn’t attempt to connect with them. While this worked for decades, it has become less effective nowadays.
People today are constantly bombarded by hundreds of messages and ads that they’ve learned to tune out generic contents that are irrelevant to them. With personalized marketing, you can make your consumers feel like you have personally reached out to them and written a specific message just for them.
Of course, you have to go beyond the lazy “Hi (Name)” on email blasts and website pop-ups. That’s an old trick that everyone is already tired of.
Instead, use computers to deep-analyze the data you have and identify the problems of your consumers. Give them a solution on an attractive silver platter. Use segmented email lists. AI technology has enabled hyper-personalization in content, design, and giving people product recommendations.
Interactive technology is constantly integrating into various platforms, from choose-your-own-adventure books to interactive films on Netflix and video games. This means that interactive marketing is becoming a big thing too!
Today, people are not simply looking to buy products when they go shopping. They want an experience as well, which means interaction is key. Not only does this kind of marketing stand out more, but they are also more engaging and enjoyable. Consumers are more likely to share fun content to their friends, thus increasing your business exposure.
Interactive marketing can take many forms, including chat boxes, quizzes to recommend which product or service suits their needs, blogging, social media stories, and even downloadable apps and tools they can use. You can also advertise your URL and social media accounts offline, actively asking consumers to find you online.
The heart of digital marketing is in the content you produce. As we have breezed through the first half of 2020, this adage has never been truer. High quality and informative content will attract more audience, and therefore consumers, than general posts that cannot give them any added value. Additionally, good content will put you on a place of authority as people learn to trust and turn to your expertise. It’s also great for ranking high in search engines.
Content can take many forms, including blog articles, photos, and videos. Visual content such as infographics has been rocketing, especially on Instagram and other social media platforms. However, video is quickly becoming one of the most effective digital content marketing tools. Facebook Live and Instagram Live are also known to retain an audience 3x as long as pre-recorded ones, while engagement is 6x as active.
Try to analyze the types of content and forms that do especially well on certain platforms. This will allow you to maximize your marketing strategy and reach out to as many people as possible. For example, while Instagram is a great place for mini infographics and posters, portraits and short videos might work better on the recently booming TikTok.
Customer Loyalty and Retention
In the years prior to 2020, most businesses cared more about attracting as many new customers as possible. Less focus was put on retaining customers and gaining their loyalty.
However, there seems to be an important shift happening this year. There are many ways in which keeping existing customers is beneficial for your business. Returning customers can be much more valuable than new ones.
In fact, it has been shown that attracting new customers can cost five times as much as keeping a new one. Having a loyal customer following will also boost your brand awareness and reputation, especially if they are often seen using your product or service and talking about how much they love it. And guess what? They can provide real testimonies and become indirect brand ambassadors for your business!
Although we are halfway into 2020, it is never too late to start implementing these marketing trends for your business. If you have, keep improving your marketing strategy as you figure out which is the most effective one. Marketing trends will continue to adapt to new technologies and consumer behaviors. So, remember to always keep updated. Good luck!