The future of marketing

31 December 2015 03:06 am Views - 1631

In the ever-changing world of marketing, attention is always focused on identifying the ‘next big thing’. Striving to improve the brand and positioning of their clients, marketers are constantly on the lookout for new trends, shifts in customer tastes, and better ways to communicate their messages.

Good marketers realise that, just because an approach has worked well in the past, its ongoing success is far from assured. To remain at the top of your game, ongoing evolution is critical.

When it comes to the future of marketing, there are a range of trends that will drive change. Our current ‘top 10’ list is:  
1.    Mobility:  The rise of mobility has been nothing short of dramatic. Smart phones, tablets and now wearable devices have come from nowhere to be the must-have items for anyone on the move. These days, as well as making calls, the smart phone is also an internet browser, music player, video and still camera, and an electronic navigator. As a result, marketers must ensure their activities reach people via the small screens they have with them at all times.

2.    Engagement:  The old ‘one-to-many’ style of marketing is over. These days, customers are seeking personalised engagement with brands - and it’s a trend destined to continue. Those brands that are able to genuinely engage with customers will be rewarded through loyalty, recommendation, and increased sales.

3.    Content: The phrase ‘content is king’ remains true, and the need for quality content continues to rise. Visual content, in particular, is becoming increasingly important and will be at the centre of strong marketing campaigns - in some cases at the expense of conventional marketing methods. Speed will also play a big part with the brands able to develop compelling content quickly getting a head start on their competitors.

4.    User-generation: While branded content will remain important, the power of user-generated content will continue to rise. Online reviews, blogs and social media posts will form a strategic part of many campaigns. Content co-creation between brands and consumers will also become a popular trend, helping to strengthen relationships and drive engagement. 

5.    Social media: Social media has already embedded itself as an integral part of the overall marketing process. As its potential impact rises, many brands may even shift their entire marketing efforts to social channels. As a result, social media has the potential to become not just one of the communication channels to use but the channel to use.

6. Direct conversations: Successful brands will be those able to conduct direct conversations with their customers, increasing loyalty and creating brand advocates. At the same time, customer responses and feelings toward a brand will shape future campaigns. 

7.    The evolution of Millennials:  Like age groups before them, the Millennials will age and be replaced by a new, younger generation. Brands solely-focused on this group need to realise this change and ensure their brand evolves as well. They need to change their game to stay relevant.

8.    The brand as a product: Increasingly, successful brands will behave more like product companies than service companies. While service companies strive to create a happy customer who returns again and again, product companies focus on innovation. This means that, for brands, customer satisfaction and retention will not be enough. As well, they will need to efficiently innovate to create even more value for their customers. That said, it’s important to emphasise that great service will never go out of style.

9.    Personalisation: With the rise of trends such as ‘big data’ and analytics, data-driven marketing will become more powerful and widely used. Successful brands will realise there is a big difference, however, between data-driven marketing and intrusive marketing. While the former focuses on relationship building, the latter is little more than old-school ‘push’ marketing in a new guise. Marketers who focus on relationship building will be rewarded, while intruders will be shut out.

10.Metrics: Thanks to the development of sophisticated measurement and analysis platforms, marketers will have access to more accurate metrics. While many brands currently focus on measuring ‘vanity’ metrics such as likes, shares, or tweets, in the future much more valuable insights will be possible. The ability to assess the success of new campaigns will be stronger than ever.

There’s no doubt the marketing landscape is shifting rapidly. By watching trends such as these, savvy marketers will be able to ensure their brands survive and thrive in the future.

(Christian Hyland is the Senior Manager - Strategic Consulting at Oracle)