Don’t you hate when people ask you what’s going to happen this year in marketing, as if you have 2020 vision? Budum-Ksh . . . All joking aside, 2020 has been deemed the year of clarity by many including spiritual gurus and marketers alike. As a marketing agency, we know that having a clear vision is key to creating a clear, holistic marketing strategy that incorporates all aspects of marketing from digital content to personal experience. In the spirit of the holidays, we took the liberty of putting together a list of the top 3 marketing trends to expect in 2020 to make your strategy planning a little easier for the year to come!
1. Customer Retention
One of the first notable marketing trends of 2020 is an increased focus on Customer Retention. Odd? We know. Logical? Let us explain. As marketers, our primary job throughout the history of our industry has been to create compelling content that communicates the uniqueness of the products we are representing to new consumers in order to sell. However, this year, we are seeing a slow but steady shift from selling to prospective markets/consumers to growing with current markets/consumers. The reason being that companies are finding that it is much more cost effective to cater to existing customers as they often times bring in new customers through referrals. If the focus remains on targeting your current consumer market through market segmentation this year, we’re positive that you will be able to gain the insights needed to grow with your current consumers and gain some more with their referrals.
2. Customer Experience
Along the same line, Customer Experience will be a major focus in 2020 among marketers as the demand for better experiences has been increasing among the Millennial (Gen Y) and Centennial (Gen Z) generations. But exactly does this mean? According to Marketing Insider Group, this means creating a seamless experience from first brand interaction to sale for all consumers that interact with your brand. It is the mixing of PR, content, video, social media, and live, human interaction at events and shows so that all experiences with the brand are efficient, convenient, and friendly. It is, in essence, the marrying of digitization and live interaction so that the customer gets the full experience of your brand, including easy-to-spot branding and up-to-date technology as they foster their relationship with your brand.
To somewhat summarize the 2 main trends above, 2020 will see a bigger focus on Personalization. In other words, companies are spending their marketing budgets, not on aimlessly advertising to all markets, but rather segmenting their markets and advertising only relevant products to those market segments. For example, if you’ve felt like Amazon or Facebook knows what you’re thinking when a sidebar ad for a health food product you’ve been shopping for pops up, we’re here to tell you they are. But it’s not because they’re creepers, but rather to cater to what you’re looking for. Although we’ve been seeing this slow but steady shift in previous years, it’ll be more evident in 2020 as even offline experiences, like those at shows and events, will be more relevant to the market that is attending the event. This will include, more practical product demonstrations, booth giveaways, and even more specific Brand Ambassadors whose profiles mirror that of targeted consumers.
Overall, 2020 will not only be the year of clarity, but the year of the consumer, as brands start to become more in tune with who their target consumer is and what they are looking for in their product, brand, and business. Thinking holistically about your future marketing plan will put you in a position to connect with your consumers beyond your product. It will truly help you foster the human connection your consumers are reaching for in the age of digitization. Regardless of where the next year takes us in marketing, you can count on NeoSol Marketing to guide you through every step of the way.