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To remain relevant and ahead in the future, companies need to identify, formulate and execute new marketing strategies that can establish a niche market and build a loyal community of consumers.
At the same time, marketing tools are growing exponentially and it is important for any marketer to analyze changing customer behavior patterns and implement them in any business environment in order to stay ahead and relevant in the days to come Sex, writes Neha Thomas, Marketing, Creative Zone.
Here are some key areas to help start adapting to the future of marketing.
conversational marketing
According to a 2021 McKinsey article, 71% of customers expect businesses to provide personalized interactions, and 76% of customers are frustrated when this does not happen. This shows that today’s customers expect real-time and more personalized company interactions.
Using live chat, messaging apps, and chatbots as a means of speaking to customers is key to providing them with instant responses to their questions, queries, and requests. It also becomes a way for the company to gain and build the trust of customers. However, it is important to invest in a good AI chatbot application to connect with customers on an emotional level.
Conversational marketing is also time and cost-effective for companies. It helps in storing data including customer profiling, customer purchasing and segmentation which can be analyzed and reviewed by the company for future reference.
Currently, conversational marketing is largely driving sales, revenue, and customer loyalty growth, and it will continue to be one of the marketing trends for the next 5-10 years.
Social Media and Influencer Marketing
The ideal place to run customer-targeted promotions is on a platform where your audience gathers, and this is where social media comes in handy. As of 2021, there are approximately 4.48 billion social media users worldwide. Advertising on social media channels, including YouTube, Meta, TikTok, and other types of podcast and video platforms, can increase viewership for your product or service, potentially leading to higher sales.
Influencer marketing has also been given a huge boost by the dramatic increase in social media usage following the outbreak of the Covid-19 pandemic. Using influencers to promote a brand has been proven to yield a positive ROI. An influencer is a trusted figure in a niche community and has a large following. Influencers are known as gurus in their field of expertise. This is why promoting a brand through social media channels can lead to promotional authenticity that can greatly influence many audiences.
Some 58% of marketers say influencer marketing is the most effective marketing trend for 2021, ahead of SEO, experiential marketing, and short-form video content, according to HubSpot blog research. By 2022, 86% of marketers plan to continue spending the same amount or more on influencer marketing. This is in line with current and future generations of customers.
Generation Z, born between 1995 and 2009, and Generation Alpha, born between 2010 and 2024, are expected to use social media where marketing influencers build channels.
AI-marketing method
The use of AI in marketing has been around for a long time, but in the past two years, its use has increased significantly. According to Forbes survey results, 75% of businesses using artificial intelligence and machine learning in 2018 were able to increase customer satisfaction by 10%. The quick and seamless response of AI marketing tools helps companies retain customers.
AI chatbots are now considered the next big thing in CRM because of their ability to personalize requests and handle complex transactions. Responses and decisions will become less complex and straightforward based on data insights from customers’ past and present. By 2025, companies are expected to use a combination of personal, location, and environmental data that can effectively target customers.
virtual reality marketing
Businesses are now opting for full virtual reality marketing to provide their customers with a more immersive experience. While VR marketing tools tend to be a bit pricey, they are still becoming more common. Consumer and enterprise VR market revenue is expected to reach $6.71 billion by the end of 2022 and $12.9 billion by 2024.
Companies are investing in VR to create better relationships with customers. Offering products or services through engaging advertising and virtual storytelling can help customers better understand products and services.
Short Video Content Marketing
As with virtual marketing, increase customer engagement through creative content advertising. Over 31% of global marketers are currently investing in short-form video content, and 46% believe it is an effective tactic.
In the past, companies produced long-form video content to explain their products and services in more detail. However, for platforms like TikTok, YouTube Reels, and IG Stories, shorter video ads are now more popular because of their immediate and immediate messaging nature.
Blockchain and NFT Marketing
When you hear the word “blockchain,” you usually think of buying, selling, and exchanging cryptocurrencies. But in the future, blockchain technology and NFTs will also greatly affect marketing. Simply because blockchain technology can solve the following problems that other marketing trends or strategies cannot.
* Increased security and data privacy
The cost of a data breach increased from $3.86 million to $4.24 million in 2021 alone and is expected to increase in the coming years. In marketing and business, the use of blockchain technology can provide an additional measure of security by recording, verifying and encrypting blockchain transactions. This will prevent data from being sold or stolen. In this way, companies can build greater trust with customers.
* Prevent ad fraud
A Forrester study found that 69% of brands spending more than $1 million a month on advertising said at least 20% of their budget was lost to digital ad fraud. The best way to prevent and solve this problem is through blockchain technology. Blockchain tracks who interacts with your ad using strict user verification. The combination of blockchain transparency and accountability can reduce ad fraud and help businesses achieve greater results with their digital spend.
Voice Search and Content Optimization
The rise of voice search has opened new doors for business and marketing. According to a recent PwC study, 65% of people aged 25-49 use voice search at least once a day (for example, while driving).
Since voice search has become integrated into our everyday essential gadgets like mobile phones, it’s important to consider SEO optimized content for voice search. Marketers should now start thinking about what information, keywords and phrases customers might verbally ask for. Since voice search technology is convenient, it is also expected to increase productivity. — trade arab news agency
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