Digital marketing continues to evolve at warp speed, and it is more important than ever to stay on top of trends. For the small to mid-sized business (SMB’s), new developments in digital marketing can improve efficiency, ROI and the bottom line. Many of our current trends were viewed as ambitious concepts that bordered on science-fiction a couple of years ago. Now they are part of effective digital marketing. Incorporating some of these trends can translate into substantial increases in revenue.
Video
Most of us are aware of the growing popularity of video. We see video becoming more prevalent on social media and watch more YouTube videos. And online video shows no sign of slowing down. According to Zenith Media by 2021 the average person will watch over 100 minutes of video everyday. For the SMB this is a marketing opportunity. Video increases engagement and conversions. Think about posting your content on more than just YouTube. Promote your video across various social media platforms and consider sending personalized videos to customers promoting specials. The uses of video are only limited by imagination.
AI
More than ever people are aware of the pervasiveness of Artificial Intelligence. AI powers chatbots, helps with personalization in email, generates content, and recommends products for e-commerce. Artificial Intelligence is especially helpful in managing and segmenting data. AI is already taking over tasks previously performed by humans. Microsoft and Uber use robots (that look like R2-D2) to patrol large parking lots. They can take pictures of license plates, report suspicious activity and report back to their owners. You can rent them for just $7 an hour.
Programmatic
Programmatic advertising means using AI to automate ad buying so you can target more specific audiences. Real-time bidding, for example, is a type of programmatic ad buying. This automation is much more efficient and faster than manual buying. Vast amounts of data are considered in milliseconds, reducing the cost of digital media buying. This adds up to higher conversions and lower customer acquisition costs. Programmatic allows for real-time measurement, meaning optimizations can occur more rapidly. It is changing the face of digital advertising so swiftly that, according to eMarketer, over 85% of digital ads in the U.S. will be programmatic by 2020.
Interactive Email
We are seeing some exciting new ways of using this technology. For example, interactive emails that pack more information in a compact space, allowing small businesses to provide relevant and interesting information to their targeted audience while enjoying improved responses. Infographics, gifs and illustrations offer an alternative to boring, text heavy emails. Consumers love to be entertained. A message that entertains and informs is far more memorable than a static email
Launching an email campaign is relatively inexpensive compared to other marketing alternatives. Adding interactive elements is a cost-effective way to make email more effective.
Chatbots
Chatbots can help businesses offer 24/7 service to customers without the need for human assistance. In fact, research suggests that many consumers prefer chatbots because they don’t lose patience and are quick to respond, all factors that increase customer satisfaction. There is another core reason why so many businesses are planning to make this technology a part of their 2020 strategy – they are getting easier to integrate. That is why SMB’s will be a leading force in adding the technology in the coming years.
5G Connectivity
In a world where mobile usage grows by the day, arguably one of the most significant digital marketing trends of 2020 is the dawn of 5G technology, or fifth generation of mobile technology. This update brings a new era of digital communications and its impact will be felt across virtually every industry. 5G technology transmits huge amounts of data. As the world reals from the impacts of Covid-19, 5G offers businesses the opportunity to work remotely at greater speeds than are now available in most offices. The data processing speeds will provide telecom companies with the data speed necessary to potentially challenge Facebook and Google. All that is to say, 5G technology will transform how we access online content, from digital marketers to the average user. The next generation of IPhones is rumored be 5G capable.
Staying on top of the changes in technology can be exhausting. Products evolve and technology expands almost exponentially. Knowing all of the latest digital marketing trends may not be possible. Instead, look at areas of your business that need improvement and then seek the technology that will help. There is a good chance that a product or service exists to help solve your problem. If it is not there today, it will be tomorrow.
