Hard to believe that it is almost 2020. Another decade is in the books and the world seems to be moving faster and faster every year. The trends in business seem to evolve at an alarming rate the older we get. This is true for trends in the field of marketing as well.
As we look back over the past year and forward into the next, let’s take a minute to evaluate the latest trends in marketing from AI, to Chatbots, video marketing, and personalization.
AI – Artificial Intelligence
What was once the fantasy of sci-fi movies has become an everyday part of life. How often do you ask Siri, Alexa or some other artificial intelligence to find out some information for you or do a task? Earlier this year Harvard Business Review predicted that AI would quickly become a part of every single one of our newest technologies. The trend seems to be going in that direction.
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.” An indisputable fact that means “AI latecomers will find themselves at a serious competitive disadvantage within the next several years.” How does your company use AI?
Chatbots are another form of AI technology that are making it easier to connect with your customers each time they visit your website. You have probably seen the window pop up on your screen asking if you need assistance. These chatbots offer answers to simple questions 24 hours a day. Single Grain online estimates that chatbots will power 85% of customer service by 2020. If your company is not considering this as a part of the marketing strategy you may be left behind as consumers have begun to expect the access to answers, no matter what time of day.
Content is still king, but now people consume their content much more visually than in written form. Take YouTube for example. When you want to learn “How To” do some small chores around your house, very few people are reading a manual but rather watching a video on how to get the job done.
Customers respond well to visual content. In fact, live video has shown to keep audiences watching three times longer than recorded ones. Just ask viewers of Facebook Live or Instagram Stories.
Consumers are becoming more annoyed by generic advertisements and email blasts that take up their precious time. This coming year is going to be the year of personalized marketing. Businesses will be leveraging the power of personalization in the coming year as surveys have found that 90% of consumers remarked that they found personalization appealing in email, advertising, and product recommendations. Two companies that are already doing this well include Netflix and Amazon, with their tailored recommended products or movie titles.
If you are hoping to get the pulse on this year, and next year’s marketing trends you may want to attend our workshop, “Marketing for Success” on December 10th.