2020 is on the horizon and now is a great time to take a look at the top 10 marketing trends that are expected to be important in the coming year (and beyond). As technology evolves rapidly and disrupts the industry one innovation after another, the entire market is impacted. These developments mean that there is a multitude of new ways to reach the consumer, but also that the expectations are higher and higher every year and that, in order to remain relevant, it is essential that marketers keep an eye on these. trends.
So what can we expect for the coming year? Here are the top 10 marketing trends to watch for 2020.
- Even more personalization in marketing campaigns
- More Chatbots to support the change in purchasing behavior
- Storytelling is here to stay
- An increase in the number of partnerships with Influencers
- An increasingly important connection with young audiences
- The customer experience prevails over the product
- Better measure results for better brand consistency
- Go from Analytics to Insights
- Consumer privacy and the GDPR
- Sustainable development leads to more transparency
Even more personalization in marketing campaigns
A recent estimate shows that we are exposed to 6,000 and 10,000 advertisements every day, and that number is only expected to increase. In a world saturated with advertising signals, it’s no wonder that many consumers demand personalization from brands to get their attention. Forbes points out that out of 1,000 people surveyed, 90% want more personalization and 80% are more likely to invest in a brand that offers them personalized experiences.
But these personalized experiences don’t have to be fancy – they can come with just an email. By personalizing content with data received on preferences, purchase history, and browsing behaviors, marketers are able to effectively segment and send tailor-made emails to recipients. To improve your email marketing strategy, you need to have the right tools that allow you to easily store, track, and analyze personal information. But also to collect statistics that help you measure and refine your marketing efforts. Contacts by Launchmetrics is the tool you need.
Personalization is key in 2020
More Chatbots to support the change in purchasing behavior
The chatbot has evolved a lot in recent years. As AI innovations grow, it is estimated that chatbots will help retailers cut costs by $ 439 billion each year, and sales made through them will grow by $ 112 billion by 2023. purchasing behaviors are becoming increasingly digital and consumers are looking for quick and easy ways to obtain the information they need to complete their purchasing act. It’s no surprise, then, that a large number of companies are poised to increase the use of chatbots and artificial intelligence solutions to facilitate interactions between the brand and consumers and potentially convert the user into a lead.
Storytelling is here to stay
Storytelling and sharing have become pillars of marketing. Consumers today are looking to have a deeper connection with brands, they care about brands that tell a story, add a touch of humanity and are cohesive. This desire for authenticity has been perpetuated by social platforms that connect people to each other with free formats (photos and videos for example) through which brands create experiences that elicit emotional responses. By linking the brand’s message to these emotions, companies give consumers reasons to buy their product and explain why their brand is important. It has therefore become essential for companies to adopt a wide range of storytelling strategies to reach and retain the attention of the consumer.
These strategies are as diverse as the number of stories to tell (branded content, integration of influencers, UGC, etc.), so if it is important that all companies in the sector invest in storytelling to connect with their audiences, it is even more crucial to assess their performance correctly. The very nature of storytelling implies that we have to analyze both quantitative and qualitative performance. However, this is an element that Launchmetrics takes into account in its proprietary Media Impact Value ™ (MIV®) algorithm. Our algorithm measures the impact of placements and mentions on different Voices in the fashion, luxury, and beauty industries to determine how brand equity is created, through what brand activity, and where. This will allow you to optimize future strategies and ultimately your ROI. Find out more about Media Impact Value ™ and what our Insights platform can do for you.
An increase in the number of partnerships with Influencers
As we said above, consumers are more inclined to buy brands that create authentic experiences through their marketing activities. This is where thought leaders (Influencers) come in, they help brands extend the reach of their message to reach their target audience through a trusted and recognizable source. In our report, The State of Influencer Marketing in 2019, we revealed that 80% of fashion, luxury, and beauty brands plan to set up collaborations with influencers by the end of the year and that this number is expected to increase further in 2020.
So what type of collaboration with Influencers should your brand invest in? This of course depends on your marketing goals. However, we have found that among the 4 types of Influencers that exist, 45.5% of professionals in the fashion, luxury, and beauty sectors say that Micro-Influencers are the ones who have the most influence on their brand. Why? Not just because budgets are primarily targeted at Micro and Mid-Tier Influencers, but because Micro-Influencer audiences are much more likely to believe the opinions they share and view them as genuine. So for 2020, it is crucial that brands choose the type of influencers most suited to the goals they want to achieve in order to optimize the results of their actions and also the ROI. You are not sure which tools to use to manage campaigns and relationships with Influencers, check out our Influencer campaign management platform.
An increasingly important connection with young audiences
In recent years, the fashion, luxury, and beauty sectors have been shaken by the rise of digital-native brands, also known as v-commerce brands, which attract younger consumers through their direct sales model. to-consumer. These brands have used the power of digital to their advantage. Until recently, understanding Gen Z and how to reach it has been a real source of stress for established brands. Now, they are taking examples from v-commerce brands and investing their marketing budget in initiatives that are directly aimed at groups of young consumers. The big challenge of 2020 for brands is figuring out how to adapt their communication to speak to Generation Z while retaining their loyal consumers. This is why digital marketing budgets will grow in 2020. Likewise, knowing which Voices are helping to grow your brand equity and which consumer group those voices are speaking to is key to ensuring that your investments have the greatest impact.
The customer experience prevails over the product
As a consumer yourself, you know that the number of ways to connect with a brand today continues to grow and that the buying journey is not linear. Consumers today can interact with a brand through a wide variety of channels, so it’s important to employ cross-channel strategies to deliver content that enhances the customer experience. Omnichannel marketing brings together all points of customer interaction, including physical points of sale like stores, e-commerce, email, and social media, and considers them in a single buying journey and integrated.
Authenticity is the key to grabbing the attention of consumers along the buying journey, and among the tactics available, events have always been one of the best ways to achieve this. EventTrack found that 91% of consumers have positive feelings about a brand after attending events or having experiences offered by the brand and are more likely to make the purchase. . These elements are essential not only to help consumers gain a new perspective on the brand, but they also help generate authenticity. However, to accompany the person present at the event on the purchase journey, the event is not enough and the experience must continue in digital. That’s why brands need to take an omnichannel marketing approach and create cross-channel customer experiences to support consumers along the way, understand their buying potential and build loyalty. Measure the impact of your events with our event management software.
marketing trend of 2020
Event Marketing 2020
Better measure results for better brand consistency
In order to embrace a multi-channel mindset and tie the brand experience to different channels, it is important that businesses choose the best format to meet consumer demands. This is about content, whether on the website, in social media posts, online, or on other digital platforms. Despite the explosion of smart speakers, voice search, and voicemail that show we are heading towards a future where voice control will dominate, video content continues to reign supreme when it comes to voice control. ” get in touch with the public.
The TalentZoo website revealed that companies with good management, consistent brands are worth up to 20% more than others. This implies the need to rethink the way digital content is managed and analyzed, and to use the right tools to give marketing teams insights into their performance. This is what Launchmetrics is moving towards with the recent acquisition of IMAXtree, the leading content provider for the fashion and beauty industry, by developing the technology to provide businesses with an asset management system. brand to better measure the impact of their ideas and creative campaigns.
Go from Analytics to Insights
It goes without saying that we rely on data analytics to help us measure the impact of a brand’s actions and help us shape future ones. Now the challenge is big data and the fact that the pool of data that we have access to is only getting bigger. It is unrealistic to look in detail at every number that speaks to a brand’s marketing efforts, or you will get lost in it. On the other hand, adopting a measurement system capable of offering a global vision of performance is much more realistic. This is the only way for companies to make better decisions that have a direct impact on their business, by choosing, for example, to understand how all of their efforts on their Owned Media have contributed to their brand equity rather than measure things like the popularity of their latest Instagram post.
By choosing to evaluate a brand’s marketing activities from a broad perspective, businesses can gain key insights that show the value of each Voice and allow them to understand what to focus on for the best ROI. It is with this in mind that Launchmetrics developed its proprietary Media Impact Value ™ (MIV®) algorithm, to help companies understand which Voices generate the most value and where. Discover our Insights platform.
Consumer privacy and the GDPR
The subject of privacy and data protection has not subsided since May 2018. After 18 months of implementation of the GDPR law, marketing professionals at all levels must have basic or even intermediate expertise in this area. protection of privacy, especially knowing that the mistreatment of personal data can cost up to 20 million euros in fines. In 2020, the amount of personal data processed is likely to increase. It is therefore essential to ensure that the tools used by your company to collect and store this data are compliant. One of the key methods that companies can put in place to support their efforts on this is to create a strong core to integrate this activity into their daily activities rather than doing a big check every two months. By managing e-mailing lists, company database and press contacts, periodic checks of inactive contacts, companies can take the right measures to protect themselves from breaches of GDPR law.
Sustainable development leads to more transparency
There is no denying that today’s consumers are tech-savvy. However, they are also looking to connect with brands that communicate authentically and know the impact these have on the world. The fashion and beauty sectors are particularly under pressure to be transparent about their practices and their efforts to promote a greener industry. This means that companies, global and local, large and small, must rethink the way they operate and adopt more sustainable internal practices.
One of the ways for companies to limit their impact on the environment is to optimize their internal processes to reduce unnecessary production and waste. As the digital transformation continues to transform businesses at depth, enterprise sample management (ESM) systems have been deployed to automate many internal processes, including the sharing of logistics data and product data, in order to better anticipate critical decision-making. Thus, companies not only eliminate inefficiencies and reduce monetary losses throughout the product lifecycle, but they can also limit the waste produced along the way.
By seeking to improve the sustainability of brand practices, companies will be able to send the right message to engage with consumers today while saving money. To learn more about the benefits of ESM systems, see our report Revolutionizing Internal Processes: The Impact of Digital Transformation on Businesses Today, and also see what our Samples tool can do for you.
So while these are just 10 of the trends marketers can expect to see in 2020, we know that the real challenge is keeping up with the ever-changing industries. By tracking the trends that will have the most impact on your business and the choices you make, you will be taking the right steps to stay competitive and to attract and retain your customers over the coming year.