Digital Marketing in 2020 – Possibilities and Opportunities
It looks like 2020 is going to be a watershed year in many ways. The pandemic, COVID-19, has disrupted life as we know it, and the road back to normal is going to be a long one.
For companies reaching out to consumers, there are challenges as well as opportunities. Technology has evolved to make it possible to find several new ways to attract eyeballs and build loyalty.
Digital marketing is critical in leveraging and managing this change. As a previous survey indicated, Chief Marketing Officers were preparing for digital to grow to 75% of marketing budgets by 2020.
To overcome the competition, companies big or small cannot ignore the emerging trends. All of them are ways to streamline operations, enhance consumer experiences, and optimize lead acquisition. Services, tools, and techniques to enable all of this will be in high demand.
Possibilities for Small and Medium Businesses in 2020
Clearly, the priority is to contain the immediate fallout of the pandemic. Workplace safety measures and supply chains are among the aspects that are at the top of most lists.
However, augmenting and boosting digital marketing initiatives should not be ignored. A study showed that although 72% of small businesses focus on increasing revenue, they also see great value in establishing new customer relationships (60%) and marketing and advertising (46%).
In 2020, more than ever, small and medium businesses can harness digital marketing services to:
- Compete with larger businesses in the same sector successfully
- Learn more about consumer needs and motivations
- Boost conversions by using an omnichannel approach
The above, as you know, can be done much more efficiently and affordably than traditional advertising. In fact, 70% of consumers prefer to learn about a product or service through content and articles, rather than Ads.
This is why:
- 61% of small businesses invest in social media marketing.
- Of the marketing tools employed by small businesses in 2019, 54% used email, 51% had a website, and 48% used social media.
- Almost 90% of marketers say their social marketing efforts have increased exposure for their business, and 75% say they’ve increased traffic.
The aforementioned trends are only going to continue and grow in 2020.
The New Digital Marketing Landscape
Five trends seem to be the most prominent in defining the world of digital marketing services this year.
Some of these began a short while ago, but 2020 is set to be the time when they come into their own.
1. Marketing to Generation Z
Research has shown that by 2020, Gen-Z will account for 40 percent of all consumers, influencing nearly USD 4 billion in discretionary spending.
This is a generation that has come of age with digital content. It is savvy about issues like tone, language, and authenticity.
Values matter to them, and 68% say that it is important to do their bit to make the world a better place.
Therefore, a digital marketing campaign aimed at such consumers has to demonstrate purpose, personality, and a sense of meaning. It should emphasize experiences over products where possible.
Importantly, 53 percent state their favorite brand is able to “understand them as an individual.” And 76 percent want brands to respond to their voices and feedback. Responsiveness is a metric of a brand’s authenticity.
2. Greater Personalization
Whether it’s Gen Z or any other generation, personalization of marketing messages is important in attracting interest and eventual conversion. Along with investing in SEO services, businesses need to pay attention to content personalization.
According to research, 80% of consumers are more likely to do business with a company if it offers a personalized experience.
In 2020, tools and technology will enable even more data-driven ppc management campaigns that will tailor Ads to individual likes and dislikes.
Automation and machine learning tools can enable even a small company to deliver uniquely personal messages.
Purposeful and relevant content, targeted and useful recommendations, and insightful use of data are the other aspects that will come to the fore.
3. The Rise of Artificial Intelligence
The increasing use of Artificial Intelligence is shaping many of the ways in which digital marketing is evolving.
For example, it is being used to automate tasks, improve sales, and analyze marketing data in a pioneering new fashion.
Already, 54% of executives say that the AI solutions implemented in their businesses have increased productivity. And 61% of business executives say they are using AI to identify data opportunities that would otherwise be missed. A bright example is the website builder Weblium with an in-built smart design assistant
Another example is the way chatbots with machine learning capabilities can engage with previous conversational data to personalize future conversations.
According to Gartner, 85% of customer interactions in 2020 will be managed without a human. For customer service-oriented businesses, chatbots are going to replace a vast percentage of human involvement.
And apart from that, Artificial Intelligence is also expected to drive ideas for new products and services, reduce costs, optimize SEM services, and help businesses retain a competitive advantage.
4. More Interactive Content
Interactive content has been a great tool in terms of attracting and retaining consumers. The ways in which it is used are going to expand in 2020.
It has a 35% stake of the USD 200 billion advertising industry, and this is set to only grow. At present, 91% of buyers say they are looking for more interactive content online.
Social media posts from companies will start to look quite different, and there will be a rise in branded games. Content that is smartly optimized for mobile phone screens will rise. As well as the content used for search engine marketing will be purely interactive.
Other forms of interaction that marketers will explore are shoppable posts, 360-degree videos, AR/VR, polls, and quizzes.
5. Videos Will Grow in Popularity
Video marketing strategies have been seen as effective ways of engagement. In fact, 70% of consumers say they have shared a brand’s video online, and 72% of businesses say video has improved their conversion rate.
With the increase in the number of videos, marketers will be making use of the latest techniques and focusing on the right areas to deliver returns.
Personalization is one of the ways in which videos will change. Further, a data-first approach to ensure that the right message reaches the right consumer at the right time is increasingly going to be applied to video marketing in 2020.
Though short-form videos are the most popular, some companies are also realizing the potential of longer videos in increasing emotional quotient.
Finally, videos will also be used across the social media and search engine marketing funnel to reach consumers at different stages of the buyer’s journey.
With greater personalization and automation, digital marketers are going to find even more effective ways to reach prospects and encourage conversions in 2020. This will have an effect on all sectors in a rapidly evolving digital landscape.
Creator: Aayush - Sr. Manager, Brand & Marketing at Uplers.
Feature Image: Photo by Dominika Roseclay from Pexels