There’s a good chance you’ve been bombarded with macro forecasts on the rise of digital media artificial intelligence (AI), mobile communication, videos, drones and more. But, as an individual B2B, small or midsize marketing professional, B2C, or nonprofit what forecasts should really be looking out for, and what forecasts could you use to improve your profitability and ROI?
I believe 2018 will be an up and down ride, and am hoping that my forecasts smooth out the journey for you. Here’s what I think:
Improving Marketing And Marketing Communications By Paying Attention to These
1. Considerable thought and time is required to develop a new website language to meet the increasing use of voice activated Internet searches. Voice-activated searches, utilizing “personal assistants”, accounted for 20 percent of search queries in the year 2016, (ComScore) in 2016 and is expected to increase to fifty percent by 2020. Your website pages need to be able to comprehend and reflect the way people talk.
2. A greater focus on brand transparency absolute truth, face-to face interaction with customers and prospects will be at the forefront of. Cybersecurity-related breaches, as well as eroding trust in media and institutions, has led to an extensive and widespread desire for truth. Events and interactions at the point of purchase offer opportunities to establish (or build or rebuild) trust in the brand.
3. Reducing merchandise returns by e-commerce consumers will get more attention and require new strategies. Although online sales are increasing around three times the rate of those for brick and mortar stores (in part due to free shipping), almost one-third of purchases made online are returned (versus nine percent for stores). With shipping costing between twenty-five and sixty-five percent for an online retailer’s cost of products (UPS), it’s all players on the table to cut the price.
4. While the digital marketing industry will increase it will require there to be significant changes made to its ongoing development. Think about the following:
— P&G has called on Google, Facebook, YouTube and other companies to improve security measures to protect against fraudulent traffic reporting practices and inappropriate content before the end 2017 or they will stop advertising with them; P&G has already removed $140 million from them in 2017.
— Walmart is also no longer making ads on YouTube.
— Facebook states that it has the potential to reach 101 million 18 to 34-year-olds. But it is estimated that the Census Bureau counts only 76 million from this group.
The ANA has a plan to begin a six-month, trial study worth $50 million that will include 35 marketers as part of a test of 30 online publishers who are premium to find out their real value.
– Added to these allegations, there are also accusations of social media kickbacks, even though over 600 million of consumers globally have installed ad blockers. Visit:- https://htsmstory.com
It is clear dramatic changes must be made and done quickly.
5. As another result of the distrust that exists within the market reps, employees and distributors will be the”new” marketing communications “influencers”. Naturally, these individuals will be “the brand”, and management will be aware of the value of a highly engaged workforce. As they seek to build brand ambassadors at all levels, savvy leaders will foster authentic and open internal communications.
6. While it may appear to be an old-fashioned approach however, direct mail will be given an increased amount of attention. According to CompuMail, average response rates for direct mail (5.1 percent) is superior to email (0.6%), paid searches (0.6%) and social media (0.4%) or online display ads (0.2%). Direct mail is even stronger in the millennial generation, with responses of 12.4 percent among those 18 – 24. Data also suggests that direct mail is superior than email in terms of generating longer lasting customer engagement.
7. Bloggers will remain an element, but they’ll have to write larger posts, spending more time crafting posts, and publishing less frequently (Orbit Media). In particular, posts went from 808 words in 2014 to 1,142 words in 2017 with an average post taking almost 3 1/2 hours to make. The current system is that 3 percent of people post daily, 22 percent posting weekly and the majority of them posting once a month or less frequently.
Changing Your Strategy, Planning And Tactics
1. Marketers recognize that in the face of a changing market, the most crucial aspect of profitable growth and a higher ROI is developing a meaningful strategy for marketing and marketing communications. Through the years of experimenting with a vast variety of tactics (in large part due to their being easy to understand), marketers have learned that, without a concrete assessment of their value, these efforts may have been ineffective. The practice of putting tactics ahead of strategy never is a good idea… “ready, fire, aim” is the first thing that comes to mind.
2. Marketers, in actual fact, are spending more time trying to determine if their marketing communications tactics are working. Accepting that clicking on ads doesn’t automatically result in increased profits, they will establish strict measurements and metrics for the ROI of digital marketing the same way they do with traditional marketing.
3. Beyond the efficiency of an advertising medium, much more thought will go into the choice of a specific media in relation to the level of trust consumers have for the medium. A recent survey of 1,030 customers by Clutch revealed broadcast video and television as the medium for advertising that is the most trustworthy (61 percent) as well as social media as well as online media as the least trusted (38 percent and 41% and 41%, respectively). The trust of all media is the highest among millennials and less so among baby boomers.