The top 7 marketing trends to watch in 2018
With an eventful 2017 behind us, marketers face an exciting year ahead.
Predictions include companies adopting a longer term view on customer relationships, doubling down on the capabilities of big data, embracing new technologies and pressuring digital ad suppliers for greater transparency.
1. Focus on what you have already
According to the 2017-2018 Gartner CMO Spend Survey, 2018 will see marketers devoting more resources to engaging with existing customers.
The focus of acquisition of new business and customers will continue, but marketing’s primary audience will shift to the current database, pool of customers already owned by companies.
This also will translate into developing deeper relationships with existing customers, and applying big data analytics to switching, retention and post purchase marketing.
2. Voice rises
2017 has been described as “The Year of Voice.” .
Telstra Chief Technology Officer Andrew Scott said 2018 will see a continuation of this trend, with smart speakers and voice product development, shaping “the year of the connected speaker.”
“We expect to see the rise of the Apple HomePod device, Amazon Alexa in Australia, the Sonos One, and a few others,” said Scott.
According to AdWeek, the U.S. will have 67 million voice-assisted devices in use by 2019.
Martech Today writes about voice being at the heart of the Internet of Things:
Soon, the norm will not only be talking to our phones and devices but also to our refrigerators, washing machines and cars — some of the more complex devices we own.
By 2020, voice is expected to drive half of all searches on mobile, while mobile is expected to drive half of all e-commerce transactions.
The rise of voice will require marketers to re-engineer SEO so that search is focused on the way humans talk, not just how to type in search.
3. Here comes Alibaba
This year, online shopping by Australians grew 20% compared with 2016.
Retail in Australia is at the beginning of an upheaval, and according to this article by Mumbrella article, it's not just Amazon who will be driving change:
Alibaba is not only created in the largest internet market in the world, but also controls 80% of China’s ecommerce market – putting them in prime position to dominate the Australian market.
Amazon is barely a drop in the water compared to its Asian counterpart – which is quietly waiting to make its move of the rest of the world.
4. Big data
According to Forbes, expect big data to become more available to small and mid-sized business owners.
With more advertising platforms and marketing outreach methods incorporating big data into their usual infrastructure, it’s going to be hard to stay competitive if you aren’t tapping into the thousands of customer data points that are now available.
Leveraging this data is critical. In the next twelve months expect to see more businesses implementing more sophisticated loyalty programs and predictive customer modelling.
5. A new acronym rolls in
Customer lifetime value - CLTV - will be the number one success metric.
To evaluate and prove ROI, marketers will have to embrace longer-term customer lifetime value to evaluate their success.
6. Chatbots rise
As social platforms upgrade tech in messenger marketing and personalisation, other tech players like Domino’s have enabled customer service and e-commerce via chat.
In 2018, chatbots use will increase and become more commonplace.
To drive ticket sales for the Australian Open, Tennis Australia engaged Facebook's Messenger Bot.
According to Campaign Brief, in just one week the Bot generated 170% more conversions than linking users directly to Ticketek and a much cheaper cost per conversion.
7. Greater transparency and accuracy in digital media
Highlighting the problem with digital advertising, one of the world’s biggest advertisers began a rallying cry in the beginning of 2017.
“Murky at best, and fraudulent at worst,” said Proctor & Gamble Chief Brand Officer Marc Pritchard, describing the digital media supply chain.
"We don’t want to waste time and money on a crappy media supply chain."
With Google and Facebook accounting for 25% of global advertising spend, it’s timely that advertisers push back, and demand better.
Still at the beginning of tidying transparency, advertisers are not yet out of the dark. But it is a positive beginning of change.
8. NSW Win
Sick of losing, sick of its own poor culture, fed up with near misses and blessed with the retirement of great Queensland players, NSW wins the 2018 State of Origin series.
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