5 Current Trends in the Marketing Industry
With the advancing economy, citizens are also getting advanced with technological advancements. And with advancing technology, the trends in the marketing industry are increasing daily. 5 latest trends in the marketing industry are discussed below.
- Influencer marketing – In today`s era, social media is gaining popularity, so influencers have become the main players in campaign marketing. Also, the brands are collaborating with social media influencers to encourage the services and products to their followers. This marketing is continuously evolving as a strategy for dynamics, adopting the changed behaviour of consumers as well as technological advancements. Some of the trends of influencer marketing are discussed –
- Niche marketing and micro-influencers – Micro-influencers have smaller yet engaged followers within their particular niches and have gained much popularity on social media in the last few months. Marketers can invest in authenticity and trust related to the micro-influencers to effectively pick out the micro-marketers and niches. Marketers can attain their target consumers by joining the micro-influencers within their industry to offer more business and better engagement.
- Transparency and authenticity – The customers demand the products’ transparency and authenticity from particular influencers or brands. For this, the organisation can develop credibility and trust by coming together with the influencers who align with the values and have a genuine belief in the organisation’s offerings and mission. Transparent collaborations and genuine content oscillate with possible consumers, which leads to building stronger bonds and managing the faster growth of revenue.
- Video and live-streaming – Live-streaming and video content have become a controlling power of influencer marketing. Marketers can get support from the campaigns of video-centric influencers who frequently engage with consumers by using social media platforms such as Instagram, TikTok, YouTube and Facebook. Working with influencers who can create content with the help of video and live-streaming helps by expressing the brand’s stories more interactively and attractively.
- Long-term partnership – Most owners of SMEs are moving towards long-term collaborations from short-term collaborations along with their influencers. Developing relationships permits marketers to create a harmonious presence of the brand, strengthens engagement and also produces recurring profits. Marketers can also take advantage of the loyalty of the influencer, elongated reach, and enhanced brand popularity, which leads to the encouraged growth and loyalty of customers.
- User-generated content – This generated content has also gained much importance in influencer marketing. Motivating customers and influencers to develop and share the content associated with the brands aids organisations in expanding their reach and intensifying their social proof. These user-generated contents manage engagement and facilitate authenticity and communal sense towards the product brand. Marketers may also provide incentives and motivate the customers and influencers to create these types of content and drive the growth initiative.
- Data-driven influencer selection – As the platforms for influencer marketing and data analytics are available, it helps by enabling the marketer to take decisions based on data while choosing the influencers. Such techniques offer the audience’s demographics, engagement metrics and analysis of return on investment (ROI). Depending on the abovementioned techniques, marketers can also recognise appropriate influencers for the organisation`s target market. This will also ensure that the organisation receives maximum effect and will aid the marketer in allocating the resources effectively.
- Emerging formats and platforms – Trends in influencer marketing are mainly associated with the emerging formats and platforms of social media. Marketers must know the emerging formats and the new platforms and inspect more opportunities to get together on these platforms, which will help showcase creativity and innovation and capture the attention of early adopters and thus will eventually lead to the growth of revenue. As the trends in influencer marketing keep evolving, marketers must focus on adapting the strategies and grasp them for the company’s growth. For example, the company Cisco collaborated with Neil Patel, a famous influencer and a digital marketing expert, and made use of blog collaborations, social media content and webinars to drive the company’s growth.
- Personalisation – Customers are mainly looking for personalised expertise. Marketers use technology and data to adapt their marketing efforts according to individuals’ interests and preferences by offering them customised and targeted experiences. It is defined as the process that creates individualised and relevant communication among the parties to boost the recipient`s experience. It can also be referred to as adapting a communication or experience depending on the information an organisation knows about their customer. Interactions between customers and the company can occur on several channels, such as mobile apps, online ads, web apps, call centres, online chats, emails, websites, in-branch communication, etc. The personalisation strategy helps bring many advantages to the marketing industry, such as aiding them to understand their consumers and enhancing brand loyalty.
- Aiding marketers in understanding their consumers – The strategies of personalisation aid the team members of the organisation to understand the present needs of their customers and their future interests. To discover the trends of an organisation, the head of the company concluded that his team members have to analyse the data of the consumers gathered from the efforts of personalised marketing to notify for the development of new products and also evolve the present offerings or figure out when to stop continuing with the product.
- Lets the brand stand out – The strategies of personalisation aid the brand in standing out. For instance, the executive of an apparel company would look at garments and shoes, while the executive of a consumer package goods would look at laundry detergent and diapers. This strategy of personalisation will help in speeding up the process of sales and will also help to contribute at a higher rate.
- Enables higher conversion rate – If the marketing team of an organisation delivers better content according to the customer’s expectation, then they can also aid in enabling better conversions and growth. For instance, an API provider was an employee at Edutech company, where individuals were taught how to code and showcased individual content whenever they wanted hands-on experience. This helped by giving practice problems in coding, which the individuals studied at a particular time, and the technology knew learning coding was best for every individual. And this helped in leading to high-quality content, which accelerated a higher conversion rate of the company’s subscription product.
- Develops higher loyalty towards the brand – Greater loyalty towards the brand can transform individuals to register themselves for the company’s loyalty program. And this frequently offers personalised gifts and rewards to the consumers during the event. Higher loyalty toward the brand means that the company exists with long-term and committed customers, and it frequently depends on the emotional connection with the brand, which is enabled by the help of personalisation.
- Builds trust – The most important reason for which personalisation is significant is that it aids in building trust between the customers and the organisation. To develop trust, it is required for the company to foster more personalised features so that they can continue their relationship with trust. And these brands have to think and figure out what their consumers are interested in, and also, they have to make them loyal consumers, which will make the customer return.
- Sustainable and ethical marketing – Brands mainly focus on developing products thinking about social and sustainable responsibility. This is so because consumer concern and awareness have increased rapidly for society and the environment. Marketers are focusing on adopting sustainable practices and ethical values to fascinate customers who are conscious of the environment. The only difference between these two is that ethical marketing encourages the morals and values of the brand, while sustainable marketing encourages a socially responsible environment. This is why sustainable marketing is considered a subset of ethical marketing. A product of a particular brand engages in both sustainable and ethical marketing when the product of the brand mainly focuses on sustainability and marketing practices. This marketing technique has loads of advantages which involve transparency and clear values among the consumers, which will develop trust. For instance, Apple mainly focused on transparency and its environmental impacts, but it also has criticisms for certain non-transparent practices. The company’s business policy is similar and has been framed by constituting the guiding principles of compliance, respect, honesty and confidentiality of the company. While the customers cannot verify the company’s authenticity, this brand is still trusted widely by the public just because the credibility of the brand is added to its transparency.
- Video Marketing – In today`s time, videos play an important role in enhancing the market’s strategies. Marketers are utilising video content on different websites or social media platforms to connect with their consumers and give their message to the customers in a visually appealing and interactive way. Marketers widely acknowledge the significance of video marketing in the industry. Statistics show that almost 8000 leaders in the marketing industry in 2021 used the concept of video marketing after knowing that video leads to the tactic of engaging customers digitally. Around 81% of the respondents utilised this strategy, while 13% are still planning to utilise them. The other best tactic was to utilise live-streaming video, which 73% of the respondents used, while 19% planned to utilise it. As video is gaining much importance among audiences, the business must utilise this marketing strategy. Several advantages of video marketing are discussed below –
- Increase in the number of customers – Video content related to any product or brand can appear on customers’ screens through various channels, whether they visit any website or page of product or share posts on social media platforms or stream movies. So, marketers have their potential viewers.
- Capturing the viewer’s attention- The video’s content is a medium for promoting products or brands which offer motion, music, colours and much more against the still images and text. Captivating the customers’ attention helps to provide strategic advantages like aiding the consumers in discovering more about the particular brand.
- Develop enthralling content marketing – Advertisements are not the only way video marketing works, but they can also work by offering much valuable content that will enhance the number of customers. A European manufacturer discovered the importance of content marketing when his company offered customers videos which taught them about wood carving. As the customers developed knowledge about the product, they ended up buying products from the company, which ultimately helped drive more sales and consumer engagement.
- Showcasing the products and brands – Explainer videos help the organisation by expressing the story of the brand and the benefits of the products and services. Creating a video will help showcase the product and how the customers can utilise it. These can also aid the customer by offering them a behind-the-scenes look at the organisation.
- Voice search optimisation – As technology gets more advanced daily, voice assistants such as Google Assistant, Alexa and Siri are gaining popularity. This is why searching effective content for voice search has also been popular as the latest trend in the marketing industry. Marketers are adopting useful strategies to ensure that the content scores well in the results of voice searches. It mainly refers to the SEO techniques which will help make the content appear in the results of voice search. The main aim of voice search optimisation is to figure out the verbal queries of the content, and the voice assistants and technology for voice search respond to the users in the results of voice search. According to a survey, around 40% of internet users in the United States utilise the technology of voice assistants with the help of smart speakers or their smartphones. Several Studies also show that the United States alone can surpass the usage of smart speakers by 200 million by 2023. This strategy provides a significant chance to apprehend the traffic of organic search. By clicking on the voice search option, individuals can get into the users who depend mainly on smart speakers or smartphones to find out about a product or business. Focusing on the voice search will help in the ranking and overall SEO of the website. Whenever websites improve voice search results, this will provide the organisation’s website with more authority and, therefore, appear on the top of the result page.
In summary, these marketing industry trends identify and reflect the rapidly growing expectations and needs of individuals along with advancements in technology, as these trends show the marketer’s requirements for adopting the preferences and behaviours of consumers. Marketers must adapt to these technological advancements and hold on to these trends to remain in the market competitiveness of the dynamic environment. And by working with the current scenario and being updated, they can stand out in the marketing industry and attain the targeted audience effectively.
Frequently Asked Questions
Q. How does the company adopt influencer marketing trends?
Ans. Several ways are helpful for the business to adapt to the influencer marketing trend. These are attaining target customers, enhancing brand awareness, increasing sales, collaborating with influencers, offering promotions and merging with e-commerce platforms.
Q. How does personalisation affect the concerns of privacy?
Ans. It can be done in several ways which respect the privacy of customers. And, also it is much important to maintain a balance between the interactions of personalising consumers and inscribing the concerns for data privacy.
Q. What are the several complexities faced in the implementation of personalisation?
Ans. Complexities in the implementation of personalisation are the evaluation and collection of consumer data and personas, which clearly define and ensure a seamless experience for the user across various channels and touchpoints.
Q. Is video marketing valuable?
Ans. Yes, it is considered valuable. This is so because it is an effective technique that helps provide knowledge, convert customers and generate leads. And brands require the strategy of video marketing and video production because it is cost-effective and much easier to achieve.
Q. What are the various types of video marketing?
Ans. Various types of video marketing consist of live streams, customer testimonials, tutorial videos, product demos, how-to-videos, explainer videos and much more.
Q. How do companies embrace sustainable marketing?
Ans. The organisation embraces sustainable marketing by following the strategy of ESG, which represents environmental, social and governance. This focuses on considering the product`s environmental effects, encouraging ethical and social good practices operations and assuring the economic viability of the product.
Q. What are the tactics used by the company to support voice strategy optimisation?
Ans. Schema markup, site speed, Google assistants and actions, keyword search, and FAQs are several tactics that can help organisations support the voice strategy. It plays a critical part in creating content and guidelines for voice search and adding frequently asked questions (FAQs) to the important sites of the company. These voice optimisation techniques answer the users in conversational tones.
Author Bio: Meet Mark Edmonds, a regarded marketing master at Academic Assignments, offering first-class marketing assignment help to students worldwide. With long periods of involvement with the business, Mark has a sharp eye for rising trends. His enthusiasm lies in analyzing the most recent marketing techniques, including influencer marketing, artificial intelligence-driven crusades, and maintainable practices. Through his cunning articles and direction, Mark enables students to succeed in their marketing studies, outfitting them with useful information to flourish in the powerful business scene. Embrace Mark’s mastery and leave on a marketing achievement venture under his master’s direction.