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Cadbury’s created a personalized video campaign that matches a Dairy Milk flavor with users based on data from their Facebook profile, including age, interest and location. The campaign generated a 65% click-through rate and a 33.6% conversion rate, proving that the personal touch works. Starbucks uses a gamified mobile app that draws on data like purchase history and location to get as personal as possible, allows customers to customize their drinks, and encourages further use with its rewards system – which skyrocketed their revenue to $2.56 billion: Video marketing is one of, if not the, most important marketing trend today and likely for the next 5-10 years. These numbers show the importance of incorporating video into your digital marketing strategy in 2020: 70% of consumers say that they have shared a brand’s video, 72% of businesses say that video has improved their conversion rate, 52% of consumers say that watching product videos makes them more confident in online purchase decisions, 65% of executives visit the marketer’s website and 39% call a vendor after viewing a video. Video is by far the most popular way customers want to learn about new products.
Ultimately, it is the business, marketing, and brand development strategies which drive the growth of a business, so it is important to have a sound marketing strategy and branding in place before working on the digital tactics. Otherwise, it’s likely your hard work on the digital tactics will be wasted if they are directed at the wrong audience and your value proposition isn’t strong enough. The key trend here is the way digital technologies and media offer the opportunities for digital disruption. Yet digital marketing is not always used as a disruptor. As I discuss in my Digital Marketing: Strategy, Implementation and Practice book, digital marketing is more often used for market penetration than new product or market development (these are the classic Ansoff growth strategies). To give you a benchmark, this new CMO Survey research from Duke University Fuqua Business School, Deloitte and the American Marketing Association based on the views of Chief Marketing Officers (CMOs) in large US organizations is useful. It’s interesting since it translates the theory of Ansoff into practice, showing how businesses are mainly investing, but other strategies are significant.
Artificial Intelligence (AI) is considered the cutting edge of technology by many. But in a few years, it may be as standard as smartphones are today. Divorced from all the implications of popular science fiction movies, AI is a computer or robot that can gather facts about a situation through sensors or through human input. It can then use this information to solve problems or perform tasks. More specifically, AI is a computer system that can perform a task which normally requires human intelligence. This is also the primary reason people fear AI. AI has numerous potential applications in marketing. But in 2019, you’ll mostly see AI deployed for content marketing, customer service, and advertising. Before you start worrying, know that AI isn’t currently positioned to make every content marketer’s job obsolete. AI is mostly used today to identify trends, drum up data, and do competitor research.
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