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Marketing Trends for 2020: Here’s What Will Happen That Nobody is Talking About

Marketing Trends for 2020 - Here’s What Will Happen That Nobody is Talking About

Neil Patel 

Source: https://neilpatel.com/blog/marketing-trends/

The new year is right around the corner. And I know you are already prepared because you read this blog and tons of other marketing blogs, right?

But here is the thing: I also read most of the popular marketing blogs, follow all of the marketing YouTube channels, and listen to the same podcasts you do.

And I’ve noticed that very few people are talking about what’s really going to happen in 2020.

Sure, they will tell you things like voice search is going to account for over 50% of the search queries next year but all of that stuff has already been talked about.

And there are actually more interesting trends that will affect your marketing that no one is really talking about.

So, what are these trends? What’s going to happen in 2020?

Alright, here goes…

Trend #1: Companies who rely on Google Analytics will get beat by their competition

We all love Google Analytics.

Heck, I love it so much I log in at least 3 or 4 times a day. And here is the kicker: I get so much traffic that my Google Analytics only updates once a day.

I really need to break that habit but that’s for another day.

You are probably wondering, what’s wrong with Google Analytics?

There actually isn’t much wrong with it. It’s a great tool, especially considering that it’s free.

But here is the thing… marketing has been changing. New channels are being constantly introduced, such as voice search.

And transactions no longer are as simple as someone coming and buying from you and that’s it.

These days there are things like upsells, down sells, repeat purchases, and even checkout bumps. On top of that, there are so many different ways you can generate revenue for your online business, such as partnerships, affiliate marketing, and even webinars.

This has caused companies to start using analytics solutions that tie into their database better, such as Amplitude.  Or better yet, you are seeing a big push into business intelligence.

A central place where you can tie in all of your data and make better-informed decisions so you can optimize for your lifetime value instead of your short-term income.

In 2020, you will see more companies adopting business intelligence solutions… from paid ones to free ones like Google Data Studio.

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If you haven’t checked out Data Studio, you’ll want to start now because it is easy to pass in all of your business and marketing data into one place. For example, you can pass in more granular data from your Facebook ad campaigns into Data Studio while that would be a bit difficult to do with Google Analytics.

Trend #2: Companies will optimize for voice search, but not for revenue

According to ComScore, over 50% of the searches in 2020 will be from voice search. But that’s not really a new trend… everyone has been talking about that for years.

So, what’s the big deal?

Optimizing for voice search is a great way to get your brand out more, but how is that going to convert into sales?

I haven’t seen too many solutions so far when it comes to capitalizing on your voice search traffic, but so far there is Jetson.ai.

If you aren’t familiar with Jetson.ai, it makes it so people can buy from your site using voice search. It doesn’t matter if it is Alexa or Google Home, they work with most of the popular devices.

Jetson Powers Dukes NYC from Jetson on Vimeo.

What’s cool about Jetson.ai is that it can learn from each customer and customize the interactions.

For example, if I keep ordering the same toothpaste from a specific store using voice search, Jetson.ai keeps track of that so you can easily keep ordering the same product over and over again with little to no friction.

Heck, it’s easier than logging into your computer or pulling out your phone to make a purchase.

Trend #3: Your lists won’t convert as well, so you’ll have to look for alternative communication channels

Email, it’s something we all use in the corporate world.

But here is something interesting when it comes to marketing emails… I’m in a group with a bit over 109 email marketers across different industries in different parts of the world.

And can you guess what we are all noticing?

Our open rates are staying roughly the same and that’s largely because we all know how to clean and optimizing for deliverability.

But our click rates are going down.

So far as a group we have seen our click rates drop by 9.4% in 2019.

That’s crazy considering as a group we have over 146 million email addresses.

Now does this mean email is dead?

Of course not!!!

Email is here to stay and will be here for a very long time.

But what companies will have to do in 2020 is to leverage more communication channels.

Chatbots will take off drastically. Not necessarily the Intercom’s or Drift’s of the world but more so the solutions like ManyChat and MobileMonkey.

ManyChat and MobileMonkey leverage Facebook Messenger and as they connect it with Instagram and WhatsApp it will get even more popular.

In addition to chatbots, you’ll see more people leveraging tools that allow push notifications like Subscribers.

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It’s so powerful, here is the impact I’ve been able to generate from push notifications so far using Subscribers.

You can wait till next year to lever chatbots and push notifications, but I’d recommend you start sooner than later.

Trend #4: Moats will almost be non-existent, other than brands

You’ve probably heard the word “moat” before. If you haven’t, just think about water around a castle.

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Back in the day, they had water all around the castle and they used a drawbridge to get in and out of the castle, so it would protect them from invaders.

With your business, you may have a moat. It could be a feature, your cost structure, a technological advantage, or even a marketing advantage.

Over the years, moats in the online world have slowly been disappearing.

It’s easy for anyone to copy these days. So, what’s separating you from your competition?

Something could work right now, but it won’t last forever…

But do you know what will still be a strong moat in 2020 and even a stronger one in the future?

It’s branding.

People buy Jordan shoes because they love Michael Jordan. His brand is stronger than ever even though he hasn’t played in the NBA for roughly 16 years.

His shoes are so popular, it’s helped him boost his net worth to over a billion dollars. Plus owning a basketball team doesn’t hurt either. 😉

But what’s interesting is he’s made more money after retirement than he did as a basketball player.

And it’s not just Jordan who built a strong brand… so have the Kardashians.

Kylie launched a billion-dollar company according to Forbes and it was all because of her personal brand. Her cosmetic company isn’t doing anything revolutionary. She just has a strong brand… and good for her for monetizing her brand.

The same goes for companies like Nike, Ferrari, Tesla, American Express… and the list goes on and on.

It’s why companies are spending over 10 billion dollars a year on influencer marketing.

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Just look at my agency NP Digital. It’s literally one of the fastest-growing ad agencies out there. And when I look at all of my competitors’ numbers, we are growing at a much faster pace because of my brand.

Yes, we have a great team, but again, that really isn’t a moat as a lot of agencies have great teams. It’s my brand that gave us a really fast kick start and continues to hopefully push us up.

You’ll want to build a brand in 2020. Whether it is personal or corporate, it’s the best moat you can build in marketing. Plus, it will help you with Google’s EAT.

Trend #5: Marketing will become a more even playing field, you’ll have no choice but to use automation

When I first started off as an entrepreneur, I turned to SEO because I couldn’t afford the big ad budgets as my competitors.

Heck, I couldn’t even afford to run any paid ads.

Over the years, the playing field has become more level.

There are credit card companies like Brex that make it easier for startups to get approved for larger limits and you may not have to pay them back right away.

There are financing companies that will give you cash to spend on marketing, so non-venture funded companies can more easily compete.

There are even companies like Lighter Capital that will give you loans without all of the headaches based on your existing revenue.

And to top it off, software solutions are now starting to integrate AI to give better recommendations. From Clickflow and RankScience to Distilled ODN… everyone is trying to use AI to make SEO and other forms of marketing.

Heck, BrightEdge can even automate your SEO (or at least a large portion of it). According to them, their automated SEO solution increases page views per visit by 60% as well as provides 21% more keywords on page one​.

Keep in mind their clients are really big (their software starts in the thousands of dollars per month) so they would probably see better results than most companies, but still, you will start seeing many more software companies leverage AI.

Even with Ubersuggest, I’m working on creating AI that does the SEO for you so you no longer have to spend endless hours while, at the same time, saving you thousands of dollars.

In other words, the marketing playing field is getting more even. And if you want to do well, you are going to have to leverage AI and automation.

If everyone else is using it and you aren’t, you are going to get crushed because it will make changes faster and more accurately than a human. Again, it’s the only option you’ll have if you want to continually compete.

But don’t worry, there will be affordable/free solutions that exist, it’s just a matter of time.

If everyone is leveraging the same AI marketing technology, how can you beat your competitors?

Well, it will come down to everything else… price, customer service, upselling, operations, sales… All of the small stuff is what’s going to help you win.

Trend #6: There will be no more silver bullets, we will all have to optimize for marginal gains

A lot of businesses were built off of one marketing channel.

Dropbox grew through referral marketing. Invite more friends, get more free space.

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Facebook was built off your email address book. Facebook used to tap into it and invite all of your contacts to use Facebook on your behalf.

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Companies like Quora and Yelp were built off of SEO. All of those rankings really help drive their businesses.

But you no longer can build a business through just one marketing channel. Good channels now get saturated extremely fast.

Even if they work and cause explosive growth, it will only last for a short while before your competitors jump on board and make it harder.

Marketing is now heading in the direction of being about “marginal gains.”

There’s a British cycling coach named Dave Brailsford. His belief was that if you improved every area related to cycling by just 1 percent, then those small gains would add up to remarkable improvement.

And he’s right, that’s how you win a race.

The same will be with your marketing. There will be a big shift from people focusing on one channel and trying to find the “Holy Grail of marketing” to working on slightly improving each area of your marketing.

From split testing your title tags to get a few ranking improvements to adding checkout bumps to your order page so you can spend a little bit more on your paid ads to using Google Data Studio so you can better optimize for your lifetime value…

It’s all about the little things. That’s what is going to add up to winning.

That’s what you’ll have to shift your mindset to in order to win in 2020 and beyond.

Trend #7: Personalization is the new marketing

The problem with marketing as it exists today is that 95% of your visitors will never convert into a customer. And that’s if you are lucky.

Chances are you are more likely looking at 97% plus of your visitors never converting.

The big reason isn’t that your marketing sucks or that all of those visitors are junk and unqualified.

It’s that your message doesn’t fit every single one of your visitors.

But through personalization, you can convert more of your visitors into customers.

A basic example of this is Amazon. When you go to Amazon, they know your patterns and what you typically buy so they show you what they think you want to see in order to boost their conversions.

And it works! When I log into Amazon I see tons of household supplies because that is what I buy the most often. I never buy dog food (which is smart because I don’t have a dog,) so I’ll never see ads for dog food.

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Businesses are also trying to personalize each and every single experience both online and offline.

Companies like Amperity are trying to create a customer relationship engine so you can better serve each of your customers, whether it is online or offline.

Marketing is going to become a game of personalization. With ad costs and even general marketing costs rising, you have no choice but to figure out how to convert the 97% of your traffic that just never comes back.

You’ll see a big push for this in 2020.

Conclusion

I know a lot of the stuff I mentioned above isn’t talked about a lot and they aren’t popular marketing topics that everyone wants to hear… but it is the future.

These are trends that will come true, some already are, and you have to adapt for them.

Here’s the beautiful part, though. You just read this, and now have a chance to act on the information before your competition. So, make sure you go and do so.

I want to see you not only succeed but I want you to beat your competition. And I believe you can, whether you are a big company, or just starting off with very little to no money.

So, what do you think of the trends above? Do you see any marketing trends that will come true in 2020 that few people talk about?

Smartinsights – 6 essential marketing trends for 2020

Sunday Read (3rd Party) - Smartinsights - 6 essential marketing trends for 2020

What’s new? What’s next? Six essential marketing trends for 2020

By Dave Chaffey 18 Oct, 2019

Source: https://www.smartinsights.com/managing-digital-marketing/marketing-innovation/6-essential-marketing-trends-for-2020/

 

Examples of digital marketing tools and techniques to give you an edge in the year ahead

 Well, we’ve nearly made it! For years I’ve been looking to the future, predicting how innovations in digital media, platforms and technology will shape marketing in 2020. The cutting edge examples certainly show the exciting opportunities available – there is almost too much choice…

In this article, I’ll explore six key marketing trends based on examples and research on the adoption of the latest marketing techniques and technology marketers can use. For recommendations on tapping into the innovations in different digital marketing channels, including email, social media and search engine marketing, see all the other posts from the

Smart Insights team covering Digital marketing trends for 2020.

Now we’re nearly at 2020, we can see the huge impact that digital marketing has had. Looking at advertising alone, these eMarketer predictions show how the duopoly of Facebook and Google dominate paid media investments online, although offline media buys remain important for many larger brands.

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Trend 1. Lifecycle marketing

Although it’s often said that the ‘funnel is dead’ since consumer follows non-linear journeys, regardless of the product or service you’re involved with marketing, it will always be the case that to grow a business, your primary focus is growing awareness, closely followed by increasing customer leads and prospects.

This focus is shown by the latest Altimeter / Prophet State of Digital Marketing report, which shows a primary focus on increasing awareness.

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The role of digital in creating a unified customer experience is also high in the response, but it’s shocking that digital marketing isn’t seen as a driver of boosting revenue from existing customers. It’s an artefact of the question since digital marketing is effective in achieving all of these goals, including customer retention.

A more practical way to plan to integrate online marketing into marketing activities is to consider communications from a customer point-of-view through the customer journey. I call this always-on lifecycle marketing and recommend you review your use of online AND offline media across the customer lifecycle.

An example of an audit is shown by this example of the use of marketing activities by a B2B company, which although strong at the top-of-funnel in terms of activities used, is less strong in the middle and bottom-of-funnel nurture and re-targeting activities. Many businesses are adopting marketing automation and account-based marketing technology to implement these touchpoints. See the article linked to above for all of the potential activities that can be audited.

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Trend 2. Conversational marketing

For me, this is the most exciting trend in marketing today, bringing together rapid consumer adoption of smart speakers and innovation in search query processing, conversational interfaces and messaging.

Conversational marketing was highlighted as a key innovation in the latest Gartner hype cycle alongside Artificial Intelligence, which often fuels it.  You can see that of the technologies on the Innovation Trigger slope, many aren’t expected to become mainstream for 5 to 10 years.

Of those forecast to hit the mainstream within the next 2 to 5 years, the three most significant for marketers to consider are personification, real-time and conversational marketing.

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Gartner explains:

“Conversational marketing technologies enable interactions between companies and customers that mimic human dialogue and do so at scale. This category is near the Peak of Inflated Expectations phase”.

Personally, I think the hype about smart speakers to support the purchase journey is just that. While some products lend themselves to purchase, where a choice is to be made amongst complex products, they just won’t cut it until we have truly intelligent comparison bots. However, the research suggests I may be wrong. A study of 2,000 British adults commissioned by Artefact UK, an AI and data-driven agency, reveals that:

“Six out of ten smart speaker owners (60%) have used them to make a purchase in the past year. In fact, nearly a quarter (22%) said they have done so within the past week”.

I believe that building in more relevant to web, email and mobile-based conversations can have a bigger impact by boosting relevance and speaking in a more personal tone. Persado is an interesting tech here.

Persado uses a copy impact classification applied to existing copy, which is used to tailor copy and calls-to-action on an individual basis.

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For example, using Persado Natural Language Generation to run an experiment, Air Canada sparked a higher response using Anxiety language getting a 3% engagement lift, compared to a 5% drop using Exclusivity language, and a 3% drop using Safety language.

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Another example of AI application is nutrition and wellness retailer Holland & Barrett using AI to provide better-targeted emails. This Machine Learning approach from Tinyclues goes beyond optimizing copy using a tool like Persado, instead, it also involves targeting based on the behaviour of individuals to create more micro-targeted campaigns.

Speaking at a session I chaired at the Email Innovation Summit, Richard Lallo, Head of Digital Marketing, described what he calls ‘strategic promotions and mono-product pushes’ in a campaign. The business was able to drive campaign revenue and increase re-purchase rate while sending emails. Campaign revenue increased by 27%, open rates increased by 19%, while email send volume decreased by 23%, which also gives cost savings.

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Trend 3. Insights-driven marketing

At Smart Insights we’re huge fans of using analytics and insight to drive business performance and optimize the results from digital marketing. It’s why we’re called what we are.

Improving their data-driven marketing is an aim of many businesses indicated by the most desired skill amongst digital marketers revealed by the Altimeter/Prophet State of Digital Marketing report.

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Businesses using this approach are trying to gain the benefits reported by Mckinsey research that suggested that:

Intensive users of customer analytics are 23 times more likely to clearly outperform their competitors in terms of new customer acquisition than non-intensive users, and nine times more likely to surpass them in customer loyalty.

In addition to advances in customer analytics supported by CDPs described in the next section, new Voice of the Customer (VoC) techniques, such as online-hosted customer communities, can improve customer preferences for future products and how they are delivered.

For example, Red Bull used insight platform Vision Critical to launch a community of consumers passionate about the energy drink category. By providing a deeper understanding of consumer preferences, the community challenges widely-held assumptions. The company, for instance, learned who consumes Red Bull drinks — and how and when they buy — were changing. Data from the community provides insight on the competitive landscape, revealing channels the company can enhance to improve growth.

The community also helps Red Bull deliver more value to retailers.

Trend 4. Marketing technology

Today, Marketing Technology (Martech for short) presents a bewildering choice of software services for businesses looking to improve their management of digital media, experiences and supporting data. If your business and your agencies adopt the right blend of Martech, it can help give you an edge against competitors, but if not, you may be missing out on the insights and automation processes they are using.

The latest 2019 Martech supergraphic from Scott Brinker, a specialist who hosts Martech conferences and has advised on technology for HubSpot, has created this somewhat scary map of all the potential categories and services that companies can use.

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To highlight the range of great services available and to simplify the options a little, we designed this essential digital marketing tools infographic to recommend the categories of tools you should consider across the Smart Insights RACE Planning system and highlight the most popular, most capable tools.

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We will create the annual update for this in early 2020, discussing it recently on LinkedIn has highlighted some of the latest trends that aren’t evident from this version of the wheel.

Raviv Turner, Co-Founder, of B2B service @CaliberMind said:

“No MarTech stack is complete these days without the third leg of CRM, MAP & CDP. The only way to map, store, analyse and act on the complete end-to-end customer journey is having all the data in one place using a Customer Data Platform (CDPs).”

I’m not sure ‘the only-way’ is accurate, but that is the sentiment.

Kristen Obaid, Always On digital marketing campaigns manager for an international

Education company, added:

“The Salesforce and Adobe MAPs are underrepresented here (eg Pardot can be used for email, social, CRM, CMS, audience management, analytics. Krux is now SF. They can both be used as DMPs if the data is configured properly.) BI with simple data integrations (like Domo, Tableau) are also missing, plus Intercom for service CMS eg FAQs, and Drift for automated service chat”.

Trend 5. Consumer Privacy and KYC

Repeated privacy faux-pas by Facebook, Google and security breaches at other brands leading to the release of customer details have highlighted to consumers that their data isn’t as safe with online brands as they may have once thought. Privacy regulations like GDPR have been enacted to improve data privacy with increased fines.

Record fines have arisen in 2019 from the maximum penalty for contraventions increasing under GDPR to up to €20m (£17.5m) or four percent of global turnover – whichever is the greater.

British Airways was issued with a proposed fine of £183m for a breach of customer data and a £99 million fine on hotel chain Marriott for failing to protect personal data contained in approximately 339 million guest records.

While these may be more the concerns of the CIO or CFO rather than the CMO, it shows the need for marketers to work with colleagues to mitigate the potential impact of security breaches and reassure customers.

At the same time, we have seen a decreasing effectiveness of traditional identification methods such as cookies for tracking, which makes media ROI determination – supposedly one of the key benefits of digital channels – more difficult.

Emerging technologies can potentially help with both of these challenges.

New Identify Management or Know Your Customer solutions are being developed that can both improve security, reduce fraud and improve insight about customers across multiple devices.

For example, UK start up Hooyu blends traditional methods of customer verification such as database checks (where available) with ID document validation, digital footprint analysis, geo-location and facial biometrics. While this is most relevant for banks and other gambling applications, it indicates the range of data points that are now available.

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With these consumer concerns and new legislation such as the EU ePrivacy legislation about to be launched and the inaccuracy of tracking online with increasing restrictions built into browser like Chrome and Safari it seems like the days of the cookie (and particularly third-party cookies) and digital fingerprinting may be numbered. This means that businesses should be considering other alternatives if they aren’t already.

Discussing Unified ID – Why Identity becomes a key success factor in the post-cookie era era – Alwin Viereck, Head of Programmatic Advertising and Ad Management, United Internet Media estimates that

“More than 20% of all cookies in a desktop environment do not live longer than a day and a further 15–20% do not survive a month. For vendors in a third party context (which are typically all participants of the programmatic ecosystem), the problem might even be worse.

Multiplatform consent solutions like Sourcepoint and Identity and Access Management integration solutions like Auth0 and OneIdentity will be adopted more widely. Within AdTech new solutions will have to be found in response to Google and Apples Ad-targeting limitations.

Trend 6. Digital transformation and Marketing Transformation

Our managing digital marketing research revealed many challenges in terms of how digital marketing is run in companies today. Problems included a lack of focus on integrated strategy, testing, and optimization and structural issues like teams working in silos or a lack of skills in integrated communications.

To counter these types of problems and to make the most of the opportunities for growing a business through digital marketing, many businesses are now putting a digital transformation programme in place.

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The aim of digital transformation is to develop a roadmap to improve digital capabilities and skills, while at the same time, integrating ‘always-on’ digital marketing activities with brand and product marketing in the business.

This chart from the research shows that many businesses are active in transformation to try to achieve this aim through the success factors covered in this briefing.

Despite some talk that we might be in a post-digital world by 2020 and some traditional marketers suggesting that “it’s time to shut down digital marketing for good” the reality is that many specialist digital job roles and are needed to run digital marketing activities as my post ‘10 reasons you still need a digital team‘ shows.

A common practice that we can expect to continue in the future is a move to a hybrid approach to managing digital marketing with digital marketing skills being developed in marketing teams as suggested by this structure.

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However, the label of a ‘digital department’ is outmoded, since the creation of large digital teams has caused silos to develop with other marketing and product teams. Instead, we can expect a continued move to a digital/marketing Centre of Excellence model. The DCoE will be smaller ‘digital services units’ that track the latest developments in development, advising on new digital techniques and technologies.

Through the year, we’ve been adding to our tools to help all members assess how well their businesses are adapting to using digital media and technology as part of Digital Transformation. To review your digital readiness, either for integrated digital marketing or individual channels, download our benchmarks or take our interactive capability graders.

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All the best for grasping the opportunities from digital marketing in 2020 and beyond! To help you on your way take a look at our benchmarking templates, each of which will give you a quick review for digital marketing governance and the key channels like search, social, email marketing plus analytics, content marketing and experience.