6 Key Marketing Trends for 2020
As we move into the new decade, we are seeing plenty of marketing trends take form. From data-driven creativity to influencer marketing and personalization, marketers across the globe have been working hard to keep up with the latest trends to ensure the success of their campaigns.
These marketing trends present great opportunities for those who work within the digital marketing industry, providing businesses with advanced new ways they can market and promote their business, products or services.
However, as the year progresses, we will inevitably see new trends and innovative forms of marketing coming into play. For those who are savvy and looking to keep one step ahead of the game in 2020, Champions are here to help. With our fantastic industry insights, we’ve been able to compile a list of the top 6 marketing trends for 2020.
1. Lifecycle Marketing
In recent years, it has been widely suggested by marketing experts that the marketing funnel is dead. In 2020, we’ll see this idea challenged by emerging marketing trends. Lifecycle marketing takes us back to marketing basics, referring to the user journey.
Nowadays, many users go on what can only be described as “nonlinear” journeys. This counts for whatever industry they’re searching in or for whatever they’re looking to purchase.
In order to successfully grow a business, you will need to ensure you’re building brand awareness, all the while increasing prospects and converting leads. You can do this by communicating with consumers at vital touchpoints in their journey and consistently build brand love. The aim here is to consider your forms of communication from a consumer’s point of view to nurture them more accurately in their buying journey.
2. Conversational Marketing
In 2020, we’ll continue to see people embracing smart speakers and innovation in conversational interfaces and messaging platforms. Essentially, conversational marketing refers to the technique of companies interacting with consumers on a more human level, mimicking familiar human dialogue.
The type of language used will vary depending on the target audience and the goal of the business. For example, businesses can be expected to use the following forms of language in their conversational marketing:
By utilising this new form of marketing in 2020, either in promotional content such as emails or across a website, businesses can expect to see an increase in campaign revenue.
3. Insights-Driven Marketing
Data and analytics have always been a critical part of marketing. Used to optimise businesses and drive performance, we need insights to succeed. In the New Year, we will see an increased amount of businesses reaching out to select consumer bases to get their personal insights into certain topics.
The research and insights gained from this will help businesses to better target their chosen audience in future marketing campaigns. Better still, this form of marketing can provide insight into the competitive landscape, giving businesses the edge they need to survive.
This marketing trend has been predicted due to recent research, revealing that “intensive users of customer analytics are 23 times more likely to clearly outperform their competitors in terms of new customer acquisition than non-intensive users, and nine times more likely to surpass them in customer loyalty.”
4. Marketing Technologies
In modern times, businesses are now presented with an often overwhelming choice of software to improve their digital media. By ensuring you are using the right form of MarTech, your business can gain a competitive edge against competing businesses both locally and nationally.
There is a range of MarTech services that businesses can use in 2020. For example, businesses can choose to engage, reach, convert and act. With each of these categories comes a selection of goals. For example, you can aim to:
- Increase sales
- Generate leads
- Reach new fans
- Gain repeat users
Businesses are recommended to have a Customer Data Platform (CDP) in order to successfully map, store and analyse the full customer journey. However, this form of software can be used in conjunction with other MarTechs to ensure you’re getting the best for your business.
5. Consumer Privacy
After recent data breaches from the likes of Facebook and Google, consumers are becoming more aware of their data and how it is kept safe. Whilst the likes of GDPR have been introduced to work towards ensuring consumer privacy and security, there is more businesses can do to reassure their customers.
Know Your Customer solutions (KYC) solutions are currently being developed to work towards achieving increased security, a reduced chance of fraud and even providing insight about customers and the various devices they’re using.
In addition to this, new multiplatform consent solutions like Sourcepoint and Identity will be utilised more by businesses in varying sectors. These solutions are in response to Google and Apple’s ad-targeting limitations.
6. Digital Transformation and Marketing Transformation
One common problem found amongst businesses is the lack of focus around testing, analysing and developing strategies and structure. In order to combat these common workplace issues, businesses are adopting digital transformation plans into the heart of their businesses.
A digital transformation roadmap works to streamline digital capabilities and skills, highlighting who is responsible for what. Not only this, but a digital transformation plan will work towards integrating “always-on” marketing activities.
As an addition to digital and marketing transformations, businesses will look to reshape their internal business structures, especially those centred around digital and marketing. A Digital/Marketing Centre of Excellence model or “DCoE” will offer businesses smaller ‘digital services units’. These units will keep track of the latest updates in regard to development, being able to advise on new digital techniques and technologies.
Is your Business Ready for 2020?
With so many new trends and technologies to take advantage of, it’s natural to feel overwhelmed by the amount of choice. Luckily, Champions have a skilled team of internal digital experts and marketers who are ready to take on new projects in 2020.
No matter what industry you’re in and whether you’re a start-up business or an established company, we are able to provide a variety of digital and marketing services to assist you with your business journey.
Need some help with your digital services or marketing in the New Year? Feel free to get in touch with us to learn more about the services we can offer you.