In the past over 20 years, digital transformation has impacted every industry but the heaviest impacted is the advertising and marketing industry. In 1996, the internet was just starting to take off and quickly kicking the TV ads out of its king position in marketing. And it seems that there is any sign of slowing down.
The Facts in Today Context
Today, the main concern of customers, whenever they decide to purchase a product or service, is the personal data. Especially, after Facebook’s data privacy scandal, people become more sensitive about the misuse of their data. For this reason, there is a reticence to share and a consumer superiority to own their data and ensure they are in control of it. Also, businesses are more serious than ever about the protection of their customers’data.
Besides personal data, customers also expect a higher level of personalization. They want to remove the ads that are not relevant to them. Due to ever more present ways for consumers to block unwanted content, brands now have to find out a new way to deliver not only with a high volume of ads but also to the right people at the right time. Therefore, ad content and delivery need to continually adapt and remain flexible.
Say Goodbye to 4Ps and Welcome 4Es
Most of you are familiar with the famous 4Ps principle from Marketing Mix which are Product, Price, Place, Promotion. However, the digital world is evolving at an extremely quick pace and the 4Ps may no longer be effective. Then you have to adapt another theory to build a strong value proposition strategies.
So what can replace the 4Ps? The answer is 4Es – the new approach to the customer value proposition, which embodies Engagement, Experience, Exclusivity, and Emotion.
There is a fact that nowadays, customers do not buy products anymore. Instead, they buy experiences and emotions. Emotion branding is one of the factors making the brands stand out with other competitors. Let’s take some examples. Disneyland or Coca-cola sells happiness, Adidas or Nike gives you the courage to follow your dreams, L’Oréal sells beauty and Apple sells a challenge to the status quo.
Therefore, you should change your “what should I sell” or “how should I sell” into “WHY should I sell it?” because customers do not care about what you want. They are looking for something or someone that would give them an added value. Try to let your customers aware that your value proposition is richer than just a physical product.
Related: 7 Affiliate Marketing Trends in 2019
Influencer Marketing is a Key to Gen Y and Gen Z
It is undeniable that internet users no longer trust in the content of brand ads. Therefore, brands should find another way to make customers believe their products and decide to purchase. And influencer marketing is the best way to do that.
Nowadays, bloggers, vloggers, and other influencers have the power of shaping consumer opinions. With 75% of Gen Zs are ‘celebrity networkers’, they are more likely to use social media to follow celebrities and willing to trust a recommendation from these celebrities.
More brands are leveraging this way to reach this audience via influencer marketing. Recently this trend is growing fastly and dramatically. And it seems that this trend will continuously grow in the future.
So how to involve influencers into your marketing campaign? A simple way for you is finding influencers who are potentially interested in your company. Of course, they have to resonate with your brand and your audience. Then, you can shoot an ad video that has the appearance of these influencers. Besides, there are also plenty of ways, for example, let them recommend your items on their social media or mention your products while they are livestream.
AI-based Advertising
The growth of AI and deep learning solutions will continue to rise. Thanks to these technological innovations, we can increase efficiency, productivity and higher customer satisfaction. Plus, it also leverages insights and data to achieve these ambitions.
In today’s world, we have witnessed greater adoption of AI-based advertising, with chatbots rising in popularity. According to a 2017 study done by Myclever, over 70% of consumers prefer to engage via Chabot rather than an app. The study also showed consumers see chatbots are the fastest way to get content, help, and the answers to their questions.
As we have said above, the future of marketing is experiences and consumers see Chatbots as a positive way to better experiences with brands. And AI helps you have greater customization and delivery at the right place and time, as well as a new level of predictive advertising.
Music: a Powerful Tool in Marketing and Advertising
You can look at any successful advertising campaign now, you will see the involvement of good music. As one of the most powerful tools in marketing and advertising, music helps brands to create an emotional connection with their target audience. Then, your brands can develop a strong bond with your customers that empowers brand recognition and loyalty.
Music is a good way to express our thoughts, views, and opinions with the global audience. Through the melody and rhythm, it has a tremendous impact on our moods and feelings. Therefore, you should make use of audio content to enrich stories you want to tell.
The right music combined with the right brand and the right visual content can increase the success of your marketing efforts.
Final Thoughts
Being a pioneer in a new way and creating a unique approach to your customers may be risky. However, we all know that high-risk high return, this may also be the chance for you to get ahead of the pack.
This is the predictions of how the marketing landscape looks like in the future. We hope that the above predictions can help your brands to build up strong marketing strategies.
What do you think about the future of marketing and advertising? Share with us your opinion in a comment.
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