Digital marketing is important in today’s industry due to its ability to hyper-target certain customer bases. In fact, most of marketing these days revolves around identifying who the “perfect customer is” and what they are like. From that point on, it is plug-and-play. Being able to customise who to show your ads to is what is growing the digital marketing scale and slowly pushing traditional marketing to the wayside.
Such ventures could mean incredible increases in revenue for companies across the world. Or it could mean incredible losses. As amazing as digital marketing is, it is a black hole that gluttonously swallows dollars for the in-experienced marketer. However, by keeping up with digital marketing changes companies have a shot at this online gold-mine.
What are those upcoming trends? How can we use them to our advantage?
Let’s begin with the current artificial intelligence interface (AI). AI is changing and learning through natural language and machine learning to provide better advertising and programmatic solutions. These changes will increase the use of the demand side platforms (DSPs) and supply side platforms (SSPs) for many analytic uses. Through this integration, better web analytics will be established to allow companies to better understand who their digital marketing is reaching and who it isn’t. The new AI solutions will be giving companies a better grasp of who exactly they will be targeting, thereby maximising their return through how their ad dollars are spent. Most importantly, hyper-targeting will give companies the ability to craft custom content targeting specific niches. Smart technologies will allow profits to skyrocket in ways never thought of before.
Word of mouth is an influential thing. Even if it is written. An amazing strategy being used is harnessing those influencer words and using them as a marketing campaign. Whether it be through blog posts, emails, or newsletters, personal experience can help all companies gain revenue in a most extensive way – the power of the spoken word. Real experiences recounted by real people make consumers more likely to purchase a product. Fake, pre-written scripts won’t bring nearly as much success. The greatest example of this is with “mom and pop” stores who don’t have the budgets for marketing. They rely purely on word of mouth and positive reviews. Companies who have implemented an influencer approach have seen a 35% increase in sales for the year. Imagine how much profits will increase by expanding the program to include a larger influencer base.
Something that has blown up in the digital world is crypto-currency. These currencies are being handled by a “blockchain” – a public digital ledger of transactions that tracks anything you may pay with crypto-currencies of any kind. Blockchains are currently making a large headway in the paid media world. What does that have to do with digital marketing? By validating all transactions, it allows us to keep tight track of waste and fraud by detecting them and alerting the proper parties. Tracking this will have such an impact on the ad world because it is also helping drive down ad costs through such detections. Basically, current costs will be kept down. Extra funds could be used toward other upcoming and future endeavours.
Throughout the next year, several companies will allocate their budgets to more native advertising. This means on a blog, the topic you are reading about may not be the original creation of the blogger. Instead, it is a paid (or sponsored) advertisement for a company’s product or services. Native advertising has an advantage over traditional agencies because of their distinct audience that they can tap into for content creation. This content isn’t hindered by being written, no, companies have branched out even further to reach consumers. From virtual reality, to product placement, “How To” videos and more, native advertising is bursting into spaces that traditional agencies couldn’t.
With every business venture, pros and cons must both be researched, identified, and established before deciding for any project to go forward. While not necessarily about creating digital marketing ads themselves, the issue of Net Neutrality, if eliminated, may affect the audience you are wanting to reach. There is the potential that consumers would have to pay to access certain websites, while alternatively, a company would also have to pay ISPs to allow consumers to access their websites. If the FCC removes Net Neutrality not only will digital marketing budgets go up, but household bills as well due to the potential costs to access their favourite websites. This would affect the income of companies and families alike.
Considering the above, how exactly could such trends be implemented to their fullest potential? The best way would be to focus on working with other companies. This will mean making some tough choices such as outsourcing tangible campaigns. For example, many companies spend an unbelievable amount of time and resources planning live events/charities when they should be outsourcing it to event management companies.
The reality is that your core team should be hyper-focused on the 20% of activities that matter the most while outsourcing the other 80%. A leader’s job is make sure that the right people are playing the right parts – distracting your team from their core mission is a guaranteed way to slow down your growth. Don’t know what the most important activities are? The most powerful question you can ask is “if each employee could only work 2 hours each week, what would I have them do?”.
The greatest athletes, businessmen, and artists, without exception are constantly mentored. They are always working with experts who are highly specialised instead of trying to do everything themselves. And you should be doing the same. Work with a consulting company. These companies bring to the table a pool of knowledge to get the best out of your desired advertising. Your ads will grow and prosper thanks to exceptional leadership skills, innovative technologies, and experience in several engaging event services. The best marketers and consultants will be well known within the vast industry because they have done quality work and made a name for themselves.
Make sure your ideas are heard! Be clear about your expectations and visions. Listen to each other and create a plan to be prepared for your next advertising event.
Be open to letting others take the leadership role and guide you in the proper direction. You need to go to develop your campaign in the best way possible.
Trust that any ad design will showcase your brand in the best way possible. Your event managers will make sure that every guest will leave with a memorable experience and a new appreciation for your brand.
Are you up to taking this information and implementing it in your company? Will your year become more profitable?