How technology will change marketing in 2020

SRIKANTH | February 15, 2020

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Well, we humans won’t satisfy with a single thing, and we seek the best in almost everything. In earlier, we were confused to go with the product without knowing its features because of lacking a perfect platform to exhibit the product.
But nowadays, with the rapid growth of technology, we became more familiar with the features of the product and are more comfortable to know about the product using various advertising platforms.
Just imagine how technology swept out all the traditional marketing trends and transformed into digital marketing trends for making consumers more reliable and comfortable with the product.
In this article, we are going to see what is the future of digital marketing in 2020 and how technology will change marketing techniques like content marketing, branding trends, and technological advancements in 2020.

Spotlight

Triad Retail Media

Triad creates and manages omni-channel advertising programs using first-party retail data, custom content and rich media to connect retailers, brands and shoppers in a meaningful way. Triad’s retail partners include Walmart, eBay, CVS/pharmacy, Sam's Club, Toys“R”Us, Kohl's, and more, giving them a reach of more than 234 million shoppers per month.

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2020 Is the Year of Digital Omnichannel. Here’s What You Need to Know

Article | June 1, 2020

It seems like just yesterday that the customer service industry began transitioning from a multichannel to an omnichannel mindset. It was a shift backed by data—lots of it. According to Marketing Week, 15 years ago the average consumer used two touchpoints when making a purchase and only 7% regularly used more than four. Today, consumers use an average of almost six touchpoints with nearly 50% regularly using more than four. But, a mindset shift is only part of the equation. For years, many companies struggled to cobble together the best customer experiences they could. They were sold on the idea of omnichannel engagement, but their operations didn’t back it up — what use are all the channels in the world if your customer’s story and data are kept in silos? Cut to everyone heralding the premature death of omnichannel. New buzzwords came out like “channel-less” and “harmonized retail” (for real). But these words all pointed to the same thing: the need for a CX solution that puts the customers above the channel, and harnesses technology to give agents the tools and visibility to deliver deeper customer care. Digital omnichannel is the next word in customer experience. Here’s what it means and how to put it to work. What is Digital Omnichannel? At its core, the digital omnichannel promise is simple; it means supporting customers effectively and cohesively across all digital channels. In customer service, digital omnichannel effortlessly blends digital touchpoints to form a unified view of the customer. Agents can view every interaction that a customer has had with the company, no matter the channel of origin, from a single console. This visibility lets them create a cohesive, deeply personalized customer profile that enables higher quality service. By combining the information gathered from channels like live chat, SMS, social media, and more with pre-existing data found in customer databases or CRM systems, companies can eliminate the blind spots and roadblocks that result from siloed customer service systems and channels for a frictionless and more successful customer journey. Why Adopt Digital Omnichannel? In theory, digital omnichannel aligns perfectly with the existing philosophies of many companies, which are to serve customers quickly, efficiently, and effectively. Here are some of the ways that digital omnichannel is helping companies meet their customer service goals and drive operational efficiency: 1. Optimized agent capacity For agents, digital omnichannel engagement means simpler customer communication and greater ease of use. No more social media queries getting sent to the marketing team, who then emails them to customer service. No more shared inboxes. With a unified view of the customer across all channels, agents can resolve queries more easily, increasing their overall capacity. 2. Increased customer satisfaction Customers expect agents to have access to their whole story when they reach out for support. According to a survey conducted by UBM, 75% of participants cited having to repeat themselves as their biggest issue when communicating with a brand. With digital omnichannel, agents have both the tools and the context they need to satisfy customers and improve KPIs such as first contact resolution rate (FCR) and average handle time (AHT). 3. Reduced costs Improving customer satisfaction can indeed increase revenue—but it can also reduce costs. According to McKinsey, brands that improve the customer journey see their revenue increase by 10 to 15% while also lowering costs by 15 to 20%. 4. Increased agent satisfaction When a channel becomes secondary to the customer experience, it also becomes secondary to the agent experience. According to McKinsey, companies that invest in their customer experience also see an improvement in employee engagement by 20% on average. How Do You Adopt Digital Omnichannel? Once you understand digital omnichannel, the next step is to devise a plan to put it into action. There are three practical steps to building your plan: 1. Identify your channels At this point, chances are you already know which channels your customers want and expect (not sure? Ask them). Here are the top digital channels we recommend: • Live chat • Ticketing and email • SMS/Messaging • Social media • Knowledge base • Chatbots These channels cover both your real-time and “anytime” communication bases. They also provide enough self-support cushion to take the pressure off your agents in times of high-volume or after-hours support requests. 2. Create a digital roadmap for your customers’ journey Once you have selected your channels, it’s time to create your customer experience map. Ask yourself who your customers are, where they are coming from, and what actions you want them to take. Break down your key milestones and consider how you can guide your customers through those milestones using your various digital touchpoints and channels. Consider the role of your website, social channels, live chat, knowledge base, mobile chat, and more, in moving your customer from awareness to loyalty. With digital omnichannel, you will be able to effortlessly watch them move through these stages as you collect data on their engagements. 3. Choose your technology Like omnichannel before it, digital omnichannel is little more than a nice theory unless your operations back it up. So, how do you make your customer service operations digital omnichannel-friendly? You don’t want to spend resources trying to cobble it together yourself because that will introduce a technical price that isn’t worth it. The ideal digital omnichannel solution will integrate with your other core business systems, including CRM, and will scale as your company grows and new technologies and channels are introduced. Agent Assist is the perfect tool to optimize agent efficiency and productivity whilst ensuring accuracy every time. Agent Assist monitors your live chats, understands the questions being asked, and suggests the answers from your knowledge base, canned messages and chatbot intents. Within a double-click of the mouse, your agent can choose and send the most relevant answer. Fast, accurate and easy. The right solution should also have top-notch routing, prioritization, and analytic capacities. Tools such as intelligent routing ensure that your customer’s inquiry gets to the right person at the right time, with the flexibility you need to define your own unique routing procedures. Being able to segment your customers your way—by geography, historical sales, industry, and more—will further help you offer a more specialized and effective customer service program. On the analytics side, you’ll want to be able to set the right KPIs, keep close tabs on them, and learn from what’s going on so you can tweak and improve how you’re delivering. Conclusion A great customer experience isn’t merely about implementing more channels. It’s about making it easier for your customers to contact you when and where they want. It’s about how the stories gathered across those channels are appropriately unified. And it’s about equipping your agents with everything they need to create an ongoing cycle of deeper customer understanding and better service Take your time to research an effective digital omnichannel solution that matches your needs, and to carefully plan out your digital customer journey. You can’t cut corners when building a great customer experience. Fortunately the rewards of thoughtful and well-implemented digital omnichannel engagement will last for years to come.

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How to Implement Effective Marketing Automation

Article | June 1, 2020

B2B Marketers need to take additional measures that go beyond the usual technology rollouts for successful marketing automation implementations. Aligning marketing automation tools with existing systems, and aligning the proposed solution with the enterprise business strategy are some of the steps that help marketers with successful marketing strategies. There are some additional steps marketers need to ensure to see if the implementation of marketing automation is effective.

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Neuromarketing and Its Significance in B2B

Article | June 1, 2020

The biggest challenge in B2B marketing is to understand the consumer’s preferences and perform accordingly. Marketers found that the consumer’s mind changes arbitrarily towards making decisions. Neuromarketing has become a boon for marketers. It is a part of marketing that assists in understanding consumer’s brain responses with the help of specialized medical equipment while making decisions in purchasing.According to Mordor Intelligence, the neuromarketing market value was USD 1,158.37 million globally in 2020, and it is expected to be USD 1896.1million by 2026. Emotions, thoughts, actions, consciousness and insights are the essential components of the human brain that play a crucial role while making decisions. What is Neuromarketing? Neuromarketing is a strategical approach to understanding the human brain and behavior towards advertising. It is possible by studying sentiments with the help of medical equipment. North America has become one of the most prominent countries utilizing neuromarketing to comprehend aspects of customer satisfaction. They also utilized it to perform customer behavior investigations and modernize technology. How Does Neuromarketing Work? Neuromarketing is an expensive strategy that requires advanced technology to execute in a result-driven manner. So let’s dive deep into the digital transformation of neuro marketers' strategies to perceive consumers’ sensorimotor, cognitive, and affective responses. Functional magnetic resonance imaging(FMRI) FMRI calculates brain functions. It identifies blood flow in the brain connected with increased neural activity. Thus, it helps to discover consumers’ emotional and behavioral responses. FMRI is highly effective in finding out consumers’ engagement with the respective brand. Thought, speech, sensation, and movement can easily be examined through FMRI. Electro-encephalogram (EEG) EEG is a non-invasive electrophysiological method where EEG electrodes are put down all over the head to identify electrical activities of the brain. EEG can’t examine a single neuron; it requires neuron networks to experience more brain activity. Facial Action Coding System Facial action coding analyzes human instant action and emotions such as anger, happiness, sadness, etc. Neurologists believe that examining different facial muscles assists in understanding consumers’ behavioral activity. Biometrics Research Biometric is an enormously powerful and instructive research medium to examine skin conductance, eye tracking, etc. It helps to understand what grabs consumers’ attention, confuses them, and recalls them. Biometric research allows marketers to improve their designing process, ads, packaging, branding, etc. Benefits and Challenges of Neuromarketing Neuromarketing provides a new view to marketers. It allows marketers to be more attentive to their brand image, such as logo, branding, designing, etc. In addition, it helps marketers to approach the audience with the emotional and desired content that can easily capture their attention and convert them into long-term customers. With the help of neuromarketing, brands understand the decision-making process of consumers and act accordingly. Undoubtedly, there are innumerable advantages of implementing a neuromarketing strategy, but there are some challenges. One of the biggest challenges is having top-notch quality medical equipment. Without having specialized medical equipment, it isn't easy to get reliable data. In addition, marketers are also facing a scarcity of veteran neurologists. Valuable Statistics around the Neuromarketing The US market research industry is one of the most prominent industries. According to the Mordor Intelligence survey, the industry produced approximately USD 47 billion in revenue. Behaviors analysis,consumer gratification, and media audience measurement were the essential components of projects. As per the report of 360 market updates, the neuromarketing technology market size is forecasted to reach US$ 63 million by 2027, from US$ 31 million in 2020. The same report also says that neuromarketing technology is evolving and researching different parameters to know more about brain response. Walker did a study;86% of buyers will pay more for a better customer experience. It shows that the marketing strategy needs to be created so that consumers take it positively. If the company’s customer service is exceptional and provides personal attention to the customers, approximately 78% of customers will remain with the company after a mistake found by Salesforce Research. According to the report of Microsoft, about 90% of Americans believe that customer service is an essential part of deciding whether or not to do business with a company. These statistics indicate that the different industries are entirely focusing on enhancing customer experience in every aspect. Naturally, therefore, they are investing in neuromarketing. Final Thoughts The demand for neuromarketing is exponentially increasing, and different industries,such as BFSI (Banking, Financial Services, and Insurance), retail, scientific institutions, digital solutions, etc., are paying attention to it. As a result, it has created various opportunities for marketers to discover more and more about marketing tactics. Eminent businesses that adapted neuromarketing consider it the most effective, significant, and result-driven advertising strategy to enhance customer experience by understanding their expectations, behavior, and decision-making. These factors help brands to understand consumers in a better way and build robust connections with them. Frequently Asked Questions Which are the industries investing in neuromarketing? Education, retail, pharma, science and technology, etc., are the industries capitalizing on neuromarketing. Other industries are also leaning towards neuromarketing. What are the significant advantages of neuromarketing? Neuromarketing assists in understanding the customers’ requirements and perform accordingly. It also helps to drive positive ROI. What are the essential neuromarketing tools and techniques? Functional magnetic resonance imaging, Electro-encephalogram, and Biometrics are the essential neuromarketing technique that helps neurologists to understand consumers’ behavioral activity. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Which are the industries investing in neuromarketing?", "acceptedAnswer": { "@type": "Answer", "text": "Education, retail, pharma, science and technology, etc., are the industries capitalizing on neuromarketing.Other industries are also leaning towards neuromarketing." } },{ "@type": "Question", "name": "What are the significant advantages of neuromarketing?", "acceptedAnswer": { "@type": "Answer", "text": "Neuromarketing assists in understanding the customers’ requirements and perform accordingly. It also helps to drive positive ROI." } },{ "@type": "Question", "name": "What are the essential neuromarketing tools and techniques?", "acceptedAnswer": { "@type": "Answer", "text": "Functional magnetic resonance imaging, Electro-encephalogram, and Biometrics are the essential neuromarketing technique that helps neurologists to understand consumers’ behavioral activity." } }] }

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Paid Marketing in 2021: A Complete Analysis

Article | June 1, 2020

Paid marketing in 2021 has become the most impactful method of marketing that provides high ROI within a specific period. Delve into our latest article to know more about paid marketing and its benefits. One of the best, quickest, and prevalent forms of marketing is paid marketing. A paid marketing tactic isan advantageous wayto strengthen your brand identity and buildstrong connections with your customers. As a result, companies are constantly investing inpaid marketing and experiencing ideal outcomes. 87% of retail shoppers begin their searches on digital channels. According to the Hanapin marketing survey, 79% of marketers say PPC is hugely beneficial for their business. The data clearly shows how impactful paid marketing is. Introduction Paid marketing is a form of marketing wherethe company pays to promote its product or services. Brands pay for content promotion to reach potential customers based on their interests and convert them into long-term customers. In addition, paid marketing helps encourage customer engagement, boost brand recognition and makethe brand capable of measuring and optimizing the campaign. Organic Marketing vs. Paid Marketing Both marketing strategies are practical, and result-driven to gain brand recognition, leads, and website traffic. But, the differences between both of them specify their way of working and help marketers know when to utilize one over the other. Organic Marketing Organic marketing is entirely based on your creativity and time. In organic marketing, once you understand buyer persona, you need to develop relevant content, including images, gifs, videos, etc., organic marketing is frequently referred to inbound marketing. It establishes companies as thought leaders in the space by educating audiences and building long-term connections with customers. In organic marketing, brands can share information at no cost; also, it looks more authentic to customers as it is not a sales pitch. Paid Marketing Paid marketing means you are paying for intended outcomes. It assists brands in reaching audiences more directly than organic marketing. Paid marketing can be executed in billboards, posters, or other print advertisements. Today, businesses are investing in paid marketing to enhance digital marketing efforts. This method involves distributing ads and sponsored posts on social media and search platforms. The focal point of the paid marketing is achieving positive ROI at a faster rate than organic marketing, converting visitors to customers, and reaching sales goals in the designated time frame. Why is Paid Marketing Important for Businesses? Paid marketing is one of the best options to run an efficient and customize campaign. It attracts the attention of the viewers to experience your products or services. Investing inpaid marketing will certainly utilize your content to escalate your brand by attaining specific leads. It allows you to receive high-quality traffic to your website by ranking on the first page of Google results without focusing on search engine optimizations.Ads are pretty affordable and measurable in paid marketing which helps you to reach a large audience. You can keep an eye on the moneyyou have spent on different ad platforms and set a budget for a specific campaign to avoid overspend. There are plenty of platforms to run a campaign. You can effortlessly find out which platform your target audience is using and modify your messages andcampaign accordingly. US social media ad spends reached $43 billion in 2020. This was a 20% increase from 2019. 63% of people say they’ll willingly click on Google ads. Google estimates that PPC helps to increase brand awareness by 80%. Google will remain the most prominent digital ad seller globally in 2019, accounting for 31.1% of worldwide ad spending, or $103.73 billion. Brand awareness can be increased by up to 80% through Google paid ads. Paid advertising returns $2 for every $1 spent – a 200% ROI rate. 53% of paid clicks are made on mobile devices. Google drives 95% of all US paid search ad clicks on mobile. Mobile will account for 72% of US digital ad spend by 2019. In 2020, US Facebook ad spentexceeded $31 billion.This represents a 5% increase from 2019. The average cost-per-click (CPC) in the marketing industry is $3.33, and the most expensive marketing industry keyword CPC is $165. Types of Paid Marketing There is a wide variety of paid marketing you could use to heighten your business regardinglead generation, growing sales, building a solid connection with customers, etc. Here are some common paid marketing types. Paid Search Marketing Paid search marketing is a cost-effective and accessible method of web marketing aimed to connect your ads with searchers actively pursuing what you deliver. With the right platforms and in-depth research, you can convert your potential customer into a long-term customer. Paid Social Media Marketing The most popular platform is social media. Almost every social media platform offers paid options where you can pay to publish your ads for your target audience based on their interests, behavior, demographics, etc. Influencer Marketing Influencer marketing is a kind of marketing where businesses focus on influential people to convey their brand message to reach maximum audience and boostsales. Choosing the right influencer for your brand can help you in receiving positive ROI. For example,80% of consumers have purchased something via an influencer recommendation. Native Marketing Native marketing is a form of paid media where the ad experience follows the natural form and function of the user experience in which it is placed. Owing to its soft approach, native marketing is more influential in capturingthe audience’s attention. Viewers are always ready to share, like, and comment only when they find the content informative, engaging, and appropriate. How to Launch a Paid Marketing Campaign? There are some procedures to make any advertising successful. Those procedures are essential to attract the customer and experience profitability. First, you need to strategize the campaign and measure it. Let’s take a look at the vital steps of launching a paid advertising campaign. Set SMART Goal A smart goal should be specific, measurable, achievable, realistic, and on time. Before launching a paid campaign, setting a goal is the most essential step. First, it’s important to understand the purpose of the campaign. Is it about increasing followers? Getting more likes, comments? Or is it for brand awareness? Once you have identified your goal, it’s vital to allocate the budget for your campaign. Define Your Audience You need to have detailed information about your target audience. Keeping thorough research about buyer personas is the second most crucial step to make your campaign successful. It includes hobbies, requirements, gender, age, etc. Identify Platforms for Promotions Once you have your objective and detailed information about your target audience, you need to discover appropriate platformsfor your campaign. You must know which platform can give you desired outcomes. However, it differs from business to business. Final Thoughts Plethoras of examples are there around us about paid marketing. Paid social media marketing, paid search marketing, influencer marketing, native marketing, banner ads, and so on. It has become the most prominent form of advertisement that businesses are executing. More than 63% of marketers are ready to increase their paid marketing budget for the following year, owing to its quickest and optimistic results. Frequently Asked Questions What's the best-paid marketing channel for B2B? Paid search marketing is the best-paid marketing channel for b2b. It helps in growing sales and reaching the maximum audience. Does paid marketing work? Yes, it works incredibly to build brand awareness, encourage customer engagement, and to reach a target specific audience within a time frame. What are the top paid marketing channels? Paid social media marketing, paid search marketing, influencer marketing are the top marketing channels that various businesses utilize. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What's the best-paid marketing channel for B2B?", "acceptedAnswer": { "@type": "Answer", "text": "Paid search marketing is the best-paid marketing channel for b2b. It helps in growing sales and reaching the maximum audience." } },{ "@type": "Question", "name": "Does paid marketing work?", "acceptedAnswer": { "@type": "Answer", "text": "Yes, it works incredibly to build brand awareness, encourage customer engagement, and to reach a target specific audience within a time frame." } },{ "@type": "Question", "name": "What are the top paid marketing channels?", "acceptedAnswer": { "@type": "Answer", "text": "Paid social media marketing, paid search marketing, influencer marketing are the top marketing channels that various businesses utilize." } }] }

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Spotlight

Triad Retail Media

Triad creates and manages omni-channel advertising programs using first-party retail data, custom content and rich media to connect retailers, brands and shoppers in a meaningful way. Triad’s retail partners include Walmart, eBay, CVS/pharmacy, Sam's Club, Toys“R”Us, Kohl's, and more, giving them a reach of more than 234 million shoppers per month.

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