Unlike Finance or Human Resource, Marketing is a field that has always had to keep its pace with the changing environment. This is mostly because it is the front end of a business which means that there is quite a small margin of error and delay in the application of the latest trends can be costly.
Regardless of that, not many people may like the way this marketing industry changes its ways. As witnessed by this generation, it is on the verge of another turn that will once again shape the entire marketing efforts of a company in a whole new way.
A very good example of the future of marketing is the birth of social media platforms. With the launch of each platform, the marketing departments had to mould themselves to make use of every platform to their best interest. This was such a huge shift in marketing that we actually have separate departments in companies today that take care of social media marketing.
Following are some of the mesmerizing statistics that show the future of marketing:
1. Tailored Conversations
Chief Marketing Officers expect future platforms to be where they can freely communicate with the customers and vice versa. This will help marketers engage in a more interactive experience with customers.
2. Personalized Experiences
Marketers would need to focus more on satisfying customers by providing them with personalized experiences in order to build fair brand equity for themselves.
3. Traditional vs. Contemporary
Through the next five years, the more conventional platforms like television or radio will fail in reaching the customers as compared to the more contemporary ones like social media or online websites, which will become a prime source of interaction.
4. Technology Specific Trends
Small screen mobiles or those without a screen (basically old techs) are more likely to cause a huge impact on a marketing organization by 2020.
5. Changes in Lifestyles
By the year 2020, it is expected that due to the fast paced progress we are having in the lifestyles of people along with technological advances, the shift in marketing techniques will be great!
6. End-to-End Customer Service
86% of the marketers surveyed believe that they will achieve an uninterrupted experience with the customers by 2020.
What does that change?
Well, to be precise, everything! Marketing, as we know it, will be gone. All that will remain is the essence of it. The future of marketing is not what you deliver to your customer; it is the experience that the customer receives by using your product. This will define what strategies you choose, how you choose them, and more importantly, why you choose them.
Once you have all that figured out, it is only then that you will be able to survive against your competition in the years to come.
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