New year, new challenges! Every year brings its own trials and opportunities in the marketing world, and 2019 will not be an exception. As marketing trends come and go, and as businesses use various marketing techniques to attract the customer base, one has to contemplate on how to navigate in the ever-changing marketing world.
This is why we took a deeper look at the marketing crystal ball to see what comes next for businesses in terms of marketing for 2019 and beyond!
1. Reinventing Through Digital Transformation
With each new year, a new peak of technology development comes our way. And each year, our lives are gradually transformed because of it. Just think about it!
For instance, in 2006, Facebook just started to rise outside university campuses, and Twitter was barely known to the general public. And 13 years since then, we can’t live without social media, and we must have each app on our smartphones!
This digitalization alone means you can’t rely on traditional marketing tactics, especially in 2019 and above, and new practices must be implemented if you want to capture a larger portion of your target market.
Today, marketing is one of the most technology-dependent processes in business. According to the Gartner’s CMO spend Survey for 2018-2019, worldwide, the martech spend now accounts for 29% of total marketing budgets. This points out that in the past 2 years, CMOs are eager to invest in tools more than ever!
In addition to the development of WordPress as a CMS, new CRM platforms, and marketing automation software, there are also new and improved social media marketing tools, apps, and content marketing development softwares. The effect of using these softwares is felt across each industry, for example, banking is continuously transformed by new and improved payment systems, and B2B companies can’t function without a CRM or Salesforce integration and social media marketing.
There is also a lot of progress in collecting, vetting and decoding data that is generated in each marketplace, as well as in the expansion of digital media advertising for reaching target customers. While in a different time, CMOs had to struggle to find at least some quantifiable portion of data for target customers, now, they’re struggling to absorb the data to get relevant feedback about the marketplace.
Fortunately, the data challenges can be easily overcome and interpreted with the technology that is available to businesses today. For example, consider only the capacity for marketing of technology such as IBM’s Watson, that can perfectly comprehend and interpret human language and analyze unorganized data.
The marketing reinvention journey is set to begin in 2019, and the ability of companies to respond to this challenge will determine their marketing success this year and beyond.
2. Enhancing Customer Experience
Whether it’s 2019, 2050, or 2150, one thing remains a constant in marketing – the customers are at the center of everything you do. And the expectations of customers have risen now more than ever! As claimed by Accenture, only 7% of businesses think that they exceed their customer experience expectations.
The continuous customer experience improvement can keep your business on point and competitive in 2019. As a matter of fact, today, more than 50% of companies implement business models variations to improve their customer experience.
Technologies for improving customer experiences and delivering content to our customers are at our palms, and one of the most powerful concepts of today is called omni channel marketing. Today, it’s all about creating consistency for the consumers across all channels. With that, customers can switch between channels and start the customer journey when they want to.
The growing number of marketplaces and languages is challenging, and if you want to operate globally, this year, you need not only to be ambitious with your marketing efforts, but you also need to have a sound and appropriate customer experience strategy.
3. Next-Level Personalization
Personalization in marketing still matters, because when you offer people something that is tailored for them, they’re more likely to pay attention to it. With the human attention span now shorter than a fish, you must offer content that can engage people within seconds. Again, this is where personalization steps in. Based on research conducted by McKinsey, personalizing your content has the power to reduce acquisition costs by 50%, and increase marketing efficiency spends by 30% in the process.
According to Gartner, in the B2B segment, the usage of AI for data collection and interpretation will result in 40% of B2B websites to use price optimization algorithms to personalize prices for different customers.
Without proper data, it will be extremely difficult for you to implement personalized experiences across all channels. In 2019, you’re going to need a deeper data set if you want to understand more about your segmented audiences, especially with the rising privacy concerns of the consumers.
Here are some additional voice search numbers for you. Alexa and Google Home command the market with a 95 percent market share! As more users buy voice devices into their homes, there will be even more innovations in users’ search habits:
- 20 percent of searches on Google’s mobile app are voice searches.
- Google’s speech recognition and accuracy (English) is now 95 percent.
- According to Search Engine Watch, Google voice search increased by a factor of 35 from 2008 to 2016.
- 43% of mobile voice searchers choose voice search over typing a search query.
If you really want to excel in marketing personalization, you must utilize the latest trends and technologies available to you:
According to an Adobe Analytics report, after the holiday season, over 50% of American households own a smart speaker. Out of that 50%, up to 71% use the speaker at least once per day for searching for products.
Without a doubt, voice search technology is on a continual rise. While mobile experience matters, you need to focus on making it easier for the consumers to search and buy your products via voice assistants and smart speakers.
Personalizing Through AI
A survey conducted by eConsultancy in May 2018 pointed out that almost 3 quarters of digital CMOs use or plan to use Artificial Intelligence to personalize their advertising. With each improvement in algorithms, and with more data to feed the algorithms, customers’ expectations for personalized marketing offers have risen. In fact, companies that use AI to personalize their offers expect an increase in profits of 15% by next year.
Don’t Forget Your Content
With the big pool of data available, that includes page visit tracking, purchasing history, and consumer behaviors, personalizing your content has never been easier. Up to 96% of marketers consider personalization the number one factor that improves customer relationships.
4. Integrating AI
Speaking of AI, currently, we’re in the AI integration battlefield, and Google, Amazon, Facebook, Uber, Amazon, Apple and Microsoft are battling to win the artificial intelligence war. These companies are winners. And if you want to set the example in your industry and lead the way, integrating AI into your digital marketing strategy is inevitable!
With the amount of data sets on potential customers on the rise, technologies such as machine learning, deep learning, and natural language processing will be vital to make a precise data-wise decision about your customers.
According to our CEO and Chief WordPress Architect, Mario Peshev, this is how you’ll prepare for the AI and automation revolution:
“Management has to invest heavily in areas that AI doesn’t excel at, such as critical thinking, empathy, customer satisfaction and creativity. Machines are only meant to replace tedious, repetitive tasks, whereas a personalized approach shines on its own.”
If you want to revolutionize your digital marketing through AI, here are the implementations that you need to consider:
- Creating Content: Smart apps such as Wordsmith, Articoolo, or Quill are frequently utilized by publishers like Forbes for creating the latest news articles. With templates and form to enter data and keywords, these tools can create unique content that is similar to the content of a human writer.
- Content Curation: If creating content is easy for AI, curation is even easier. Through content curation with AI, you can offer more interesting content to your customers and connect with them better in the process. They will spend more time on your website, and see more of what you offer as a result.
- Email Marketing: You can use AI to personalize your email marketing campaigns based on data and user behavior. There are helpful tools such as Phrasee and Persado that can generate the perfect subject lines and copy, and surpass the effectiveness human-written email message with ease.
- Advertising: Facebook and Google’s ad platforms already use machine learning to find out what the users are prone to and place an advertisement that is related to those interests. Google AdWords already an automatized auction-like software that lets advertisers know the CPC for certain keyword upfront. There are also other new platforms such as Adext, an audience management system that utilizes deep machine learning to automate and optimize your ads for greater audience success on Google and Facebook.
- Chatbots: Automating responses to customers is much easier with chatbots. They can serve them 24/7, and collect data in the process. And they won’t get an attitude as an overwhelmed customer service clerk does. Chatbots can also answer several user requests at the same time, something that is virtually impossible for a human customer service employee.
5. GDPR and Privacy Regulations
2018 was the year of some of the biggest changes and innovation when it comes to web privacy regulations with the passing of EU’s General Data Protection Regulation (GDPR) in May.
The GDPR (General Data Protection Regulation) is a new EU Regulation that is a substitute for the 1995 EU Data Protection Directive (DPD) in order to improve the protection of the personal data of EU citizens and increase the obligations on organizations that collect and use personal data.
This regulation is applicable to businesses that market their products to people in the EU or track the behavior of EU consumers. In essence, even if your business is based outside of the EU borders but you process data of EU citizens, the GDPR definitely applies to you.
According to last year’s survey from Hubspot, less than half of the businesses have updated their data protection policies.
He’s making a list
He’s checking it twice
He’s gonna find out who’s naughty or nice
Santa Claus is in contravention of article 4 of the General Data Protection Regulation (EU) 2016/679
— joe (@mutablejoe) May 20, 2018
In 2019, you must take responsibility for the marketing data that you collect from your target users, and about the purpose that you’ll use it for. After GDPR, data regulations and privacy are taken more seriously than ever. For example, last year, British Airways endured data breach that impacted 380,000 of their customers.
The effort that it takes to become a GDPR compliant business may seem time-consuming and overwhelming, but once you tick it off your list, you can safely think about marketing tactics and hacks that you can apply to your target buyers.
According to a Hacker Noon article, this is what’s about to come in GDPR in 2019:
- Uniformity: 2019 might be the year when the ways companies comply with GDPR get more uniform across industries, positively affecting customer perspectives.
- Affecting Big Data: GDPR will presumably affect big data ethics as companies engage in data governance and data mapping to become more aware of data usage, data storage and other essentials.
- Other Privacy Laws: There are other businesses will need to comply with soon. For example, the California Consumer Privacy Act of 2018 (CCPA) differs from the GDPR in several ways and goes into effect on the first day of 2020.
- Data Breach Risk: Nearly a quarter of businesses believe in the risk of data breach even when GDPR is in force. They point out the need for compliance creates an internal distraction and uses resources that might otherwise be devoted to cybersecurity alone.
Over to You
Bottom line, everything that you’ll implement and every challenge that you’ll overcome in 2019 will impact this year’s marketing strategy and beyond, and you’ll be in a better position to tackle your business growth and acquire more customers in the process.
We suggest you to thoroughly understand the importance of the challenges that we mentioned above and conquer them step-by-step with the implementation of the latest marketing tactics and testing them on the go to ensure results that you’ll be thrilled with this year.
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