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Marketers need to observe the latest trends and adapt to them or risk not reaching their target customers.
FREMONT, CA: While the customer journey remains relatively unchanged, the latest decade's customer will want so much more. More engagement, more options, more coordinated content. With all these, for marketers staying relevant is a matter of doubling down. So, the following is a list of trends that will have the biggest impact on marketing technology in 2020.
• Omnichannel Marketing
As consumers become increasingly platform agnostic and more marketing methods are being created every day, there will be an increasing need for marketers to coordinate marketing activities in a systematic method. Hence, omnichannel will become essential in helping the client consolidate their efforts and ensure a seamless consumer journey. Subsequently, this area's growth will see omnichannel platforms grow to 11.01 billion dollars by 2023 as per reports.
• Ad Targeting
There is a big change in online advertising today. Currently, leading players broadcast third-party personal information about the person browsing to ad serving companies. These companies bid on which advert to exhibit in real-time. Because ad targeting is more complex, the cost of good quality lead arriving at the website is higher, and it is more important that they do not bounce.
• Use of AI
Half of all companies already have an artificial intelligence strategy in place, with early adopters seeing improvement in productivity, performance, and outcomes compared with companies that don't have an AI strategy. From the use of natural language processing to understand and enhance customer service and customer engagement to providing deeper data insights for increased personalization, the range of uses to which AI will be applied in marketing is growing. The use of chatbots to understand natural language queries is one of the more obvious examples.
• Conversational Marketing
Conversational marketing is a key innovation in the latest hype cycle. Conversational marketing is engaging with customers in real-time to give them what they want when they require it. It mimics the conversational tone of human conversational messaging. Often powered by AI in using natural language processing to understand queries in chatbots, conversational marketing aims to engage customers in a conversation as soon as they hit the website to get them what they want with minimal attrition.