Today, many brands continue to see digital as primarily a response-led medium, but digital channels, when used well, can play a fundamental and complementary role in brand building. The pandemic has served as a wake-up call for brands and taught everyone different ways to sustain while establishing a digital presence and embracing the virtual world. However, this also reflected the volatile nature of digital marketing and how it has amplified businesses by impacted them drastically.
In terms of consumers, while being stuck at home, they took to digital and social media platforms like never before, looking for inspiration to cook, to learn new skills, and to entertain themselves.
Here are some of the trends that can take the lead in this new year, making it merrier right from the start:
Consumers will use mobile to make high-value purchases
Desktop was once the king of high-ticket purchases, whereas now consumers feel equally comfortable purchasing expensive items on smartphones. The emerging retail culture is characterised by the extensive use of mobile technologies, high connectivity, ubiquitous computing and contactless technologies. In fact, innovative mobile technologies provide new tools (apps), which are able to separate the moment of purchase from the moment of effective consumption, by allowing consumers to make purchases by mobile phone and collect them at home.
To capture rising mobile AOV (average order value), retailers must focus on consumer security and convenience in the mobile checkout process. Easy navigation and a shorter checkout process will encourage consumers to complete high dollar shopping journeys on mobile.
Leveraging the full potential of programmatic technology with video ads
A large share of media ad inventory, including video ads, is now purchased programmatically. Thousands of dynamically-generated variations of video ads will allow marketers to run highly targeted campaigns, customised to the individual in real time, to deliver actual return on investment. With programmatic, advertisers can now create thousands of combinations of messaging and animations, overlaid on video ads in real time to deliver a highly personalised user experience.
Establishing data usage as a practice
In todayâ€™s digital world, consumers expect a fully personalised experience online, and to achieve that, marketers need full access to their data. But meanwhile, privacy regulations signal that they want more control over how marketers use their personal information. From video ad spend to data collaboration and AI usage, we believe that data is going to be the centre of almost every new innovation. But not just the data itselfâ€”weâ€™re going to see different ways of how data is treated, secured, collected, and used.
Slow death of paid media, rapid rise of paid social
Paid media will get trickier as consumers grow ever more distrustful of advertising and the media. With 30% or more people expected to deploy ad blockers, it will be much harder for marketers to generate ROI.
Paid social, however, may get more effective, as more and more of our worldview is shaped by what shows up in our social channels and streams. As far as we are hyper-focused on matching content to the audienceâ€™s interest, it could serve to be the most seamless way to inject your brand into target audienceâ€™s consciousness. At the same time, with so many channels available, and many companies have tried to stay relevant on all of them, the need to de-clutter is almost pervasive.
The importance of transparency in digital marketing
Digital marketing is growing more profitable by the day, as businesses are having to adapt in the time of the coronavirus and the economic uncertainty that it brings. Therefore, transparency between marketers and consumers has become essential. According to Global Marketing Professor, 94% of consumers favour brands that show transparency in their marketing, as this ignites feelings of trust and credibility.
Transparency can be implemented by the following:
Digital marketing opens a whole new way of doing business that doesn't require face-to-face sales. By enforcing a digital strategy, marketers will be able to migrate to social media marketing, content creation and SEO, so marketers need to ensure that they capitalise on that.
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