With companies like Facebook being questioned for a security breach in the digital world. It is time to see what our future beholds in the marketing world. It is time we predict what is expected and what is going to happen across the marketing realm.
From digital collaboration, Video Ad Spend, GDPR adaptations, and AI usage we think data is going to be center of every new innovation. This 2019 will be the adoption of secured and innovative data creation.
Let’s check out a few of Digital Marketing Predictions.
1. GDPR will drive data protection legislation globally
The EU General Data Protection Regulation will drive protection legislation around the world. There are many industries, Trade bodies and legislators who favor adopting and setting up similar privacy laws in the US and other regions.
US-based companies have taken a few steps like:
- Conducted a GDPR gap assessment
- Increase data privacy budget
- Appointment of data protection officer
Now marketers are thinking deeply about managing a massive customer database. While you may be located anywhere, if you are doing business with European companies, you need to follow the GDPR legislations.
2. All protected data may come under scrutiny
The first half of 2018 recorded a 4.5 billion data breaches approx. These data breaches also have a list of big business houses. Companies like Cathay Pacific, Shein.com, Saks and Lords & Taylor, Facebook were affected with a data breach. In fact, the data breach in Saks affected the payment card number of the customers, later on, a New York-based security firm Gemini Advisory LLC said the hacking was done by a hacker group called JokerStash.
With these vast incidents tech giants have come under scrutiny regarding, how they protect their data, their corporate footprints and taxes they pay. The European Competition Commission imposed a fine a Google in July 2018 and also has ordered a probe into Amazon’s use data.
So we can expect Facebook, Google and Amazon introduce new policies on data sharing and user privacy. Which will lead them to set up tighter controls on their users and information they share with advertisers. Increased scrutiny will lead to consent management
3. Video Ads
The private market places will have a growing share of video ad spend as marketers aim for premium inventory and better performance by displaying video ads on high-quality websites.
Google calls it as Programmatic Direct, where marketers get a private environment to advertise.
Video content is most viewed on smartphones, usually watched by users on apps. Apps play a significant role to make up an increased share of video content.
The Gen-Z are online most of the time surfing video content. The PMPs ( Project Management Professionals) will drive more video ad spend through programmatic advertising channels.
4. Brands and Retailers Team-Up
Brands and Retailers are looking for opportunities to capture omnichannel capabilities through collaborative data sharing. Brands and retailers are now looking into other marketing platforms that are not highly secured to maintain a healthy relationship with the customers. This is like retailers sharing real-time inventory data with brands giving both access to the system for better plan, promotion and operation of their popular brand.
Consumer insights are highly critical for brands to make the right impact on their products. It is essential for the investor to understand if the investment is right. Secured platforms provide very little information in this regard. Hence, partnering with other retailers can help brands understand them better.
5. AI is the future of digital marketing
In 2018, many digital marketing companies have invested money in artificial intelligence. These companies are looking forward to developing solutions providing advanced personalized and better user engaged machine learning system.
AI will enable marketers to understand their audience better and deliver highly relevant personalized messaging. AI will drive the maximum advertising budget in 2019.
On an average 30 % of the marketers are already using AI and 30 % are planning to use in the future. Companies having large data sets and strong computational advertising capabilities will take the lead in developing and offering enhanced AI-based digital advertising solutions and system to prevent ad frauds.
6. In-house digital marketing
The cloud-based storage and AI solutions will encourage businesses to go for in-house marketing instead of outsourcing it. Instead of giving digital media buying operations to an agency marketers would prefer in-house.
More than 50 % marketers go for in-house Marketing Strategy, Product Marketing, Customer Experience, Social Media, Data Analytics and between 40-45 % do Ad operations, Data Analytics, Content Marketing, Branding, Events marketing, Digital Marketing.
The regulated consumer data have brought high focus on this trend. Brand and retailers have greater ownership of their user data. Bringing in-house ad operations can lead to significant cost savings and faster turnout ratio.
In the future more and more companies are going to opt for in-house ad operations. This also includes paid social, display and programmatic buying.
7. The voice and visual marketing usage will grow
As we have discussed this before voice and visual tech is undoubtedly the future. Digital marketing will become more apparent towards voice and video search.
Text search and visual search is essential when you talk about consumers searching for a particular product. With the voice search options engaging with your customers becomes more interesting. It is easier to produce engaging, meaningful voice and video marketing content. And it also more natural for the consumer to understand your product in a better way. This helps in connecting the marketer and consumer more easily, making each one them connect through the purchase journey.
Brands who have redesigned their website supporting visual and voice search will see a 30 % rise in digital commerce by 2022.
Brands and retailer have taken the lead in optimizing their websites for voice and visual searches will win shoppers instantly. This will create an effective and more engaging interaction with consumers.
Optimize your data to connect better and deliver a better quality consumer experience.
This is how you can make futuristic changes in your marketing strategy to get all your marketing game right. Where data breach has become a common phenomenon, having protected data is one of the essential needs of the time.
Marketing is going to new horizons in the coming future. Brace your selves and be prepared to imply your marketing strategies with AI.
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