Technology advancements and integrations, such as AI and big data, will be some of the most significant marketing trends of 2020. When it comes to strategic marketing, data-driven decision-making has become crucial to the success of any business. There is no denying that the future is digital.
Still, there is a strong need for marketing to be more human-centric, tailored to touch consumers through technology and facilitate interactions, instead of solely relying on the technology itself to drive engagements. Strategic marketing that positions you for the future is about finding the right balance between the two.
How we market products and services to consumers is constantly changing. Your focus should be on improving the overall customer experience and your target consumer’s relationship with your brand. That happens in several key ways.
Strategic Marketing Trends: Enhanced customer experiences
2020 is the year of the customer. Building and delivering positive and exceptional customer service is critical to marketing success. Companies that focus on customer experiences are 60% more profitable than companies that do not. And about 73% of people say that customer experience is a significant factor while making buying decisions.
When incorporating best practices for better customer experiences, marketers should think about how they share information and knowledge, how they ensure speed, accuracy, and efficiency, and how they engage with and retain customers, all while upholding data and transaction security.
Strategic Marketing Trends: Personalized marketing tactics
Consumers are constantly flooded with advertising and marketing messages that target them through every medium possible, so much so that they have started to tune those messages out.
Relying on traditional outbound marketing alone isn’t going to cut it. Customers want to establish a genuine connection with the brands they like. That’s where personalization comes in – almost 80% of the consumers prefer custom messages over traditional marketing tactics.
Whether you are B2B or B2C, personalization tactics can reduce your client acquisition costs and increase revenues. The future of strategic marketing is creating one-on-one approaches that use marketing automation tools, compelling emails, and persona-driven content to win over your ideal consumer.
Strategic Marketing Trends: Leveraging AI & automation
AI and automation technologies are now assisting marketing functions in several ways, such as providing data and AI-enabled predictive analysis. With these tools, brands can quickly learn more about their target audience and customers.
With AI integrations, there will no longer be a question if a lead is qualified and ready to move to the next phase of the sales funnel– the data will already have that answer for you. Thanks to AI-powered sales forecasting tools and detailed consumer profiles, marketers will be able to create powerful strategies that deliver results in real-time.
Strategic Marketing Trends: Increased focus on customer retention
Your customer retention strategy is a massive part of enhanced customer experience. Research shows that your recurring buyers are more valuable than the new ones – acquiring new customers costs five times more than retaining your existing customers. Despite those numbers, customer retention has typically ranked low as a priority for businesses, but 2020 is all set to change that.
As the future brings more efficient methods of data gathering, businesses will be able to take insights from this data to figure out what their customers want and keep on delivering it to retain them for the long term. Marketing for the future is about holistic, personalized approaches that are augmented with technology. Now is the time to get ahead of the trends and start implementing them in strategic ways. Let’s talk about how to approach and stack the trends to start driving better results and better ROI.