Distinguishable trends and their successful pursuit for marketers are the hallmarks between business success and failure.
Delivering personalized marketing has always been an allusive endeavor for most businesses. One on one marketing should be the cornerstone for every enterprise seeking to be successful.
In 2012 company leaders are facing steep challenges. Disrupted industries and transformed consumers have made the challenges unlike any in history. Marketers must understand consumers are no longer just numbers, but individuals.
People want to make sure their information is safe and can trust the brands they are buying from. Businesses and their marketers, must once again, reinforce decades of positive concepts built from their predecessors.
Trends for Marketing Personalization
1. Market Adoption
Personalized marketing will grow by leaps and bounds in 2021. Feeble attempts have been made because online sellers were not forced into accepting a personalized marketing scheme. Now they are!!
In 2021, every piece of content coming out of a company will have some customer personalization. Products, emails, and content will have a customer’s name on them or some other attempt at personalizing the message. A whopping 90% of online shoppers like the personalization approach, and 63% are annoyed by generic advertising.
When companies want to justify the expense of personalization, they only need to look at behemoths Amazon and Netflix and their efforts. There are plenty of other enterprises jumping on the bandwagon.
Statistic: 34% of online consumers would promote a brand if they offered content relevant to their interests. Cadbury began a personalization campaign that garnered a 65% click-through rate and a 33.6% conversion rate.
2. New Digital Opportunities
Brand marketers will capitalize on changes that have been forced upon us all. The very best marketers will not fall into the trap of “returning to normal.” Digital change is here to stay, and there will be significant opportunities for those companies that can change with the times.
Vast new digital opportunities have already started their climb to the top. Work from home, online retail and wholesale, and education have already seen a transformation. The best marketers and companies will embrace the change that is coming.
Statistic: From Dun & Bradstreet, 76% of upper-level marketing managers face immense pressure to deliver new revenue channels. Budgets are shrinking, and marketers must find ways to deliver more with less.
3. Frustration With Generic Content
Customers are now becoming frustrated quicker with online stores offering irrelevant generic content. Dynamic content and a more granular approach to product recommendations are quickly taking hold. Marketers are finding new and innovative ways to build trust. The intent is to make the company have an authentic feel and keep the customer engaged.
Case Study: StudentUniverse, a leading travel site for students, found their website had a growing problem with cart abandonment and the site search bar. The site implemented a personalization solution from Yieldify. After the changes, StudentUniverse saw a 16.76% conversion rate increase on mobile devices and a 4.51% rise on the desktop.
4. Increase In Cart Abandonment
Cart Abandonment has been a significant problem for online retailers for years. Until 2020, the problem has never been satisfactorily dealt with, and now retailers must change or die. Companies have been analyzing the online customer journey to find new ways of reducing their outrageous abandonment rates.
Browser retargeting, dynamic pop-ups, email marketing, and other strategies have received extensive makeovers.
Statistics: A staggering 80% of every online customer abandons their shopping cart before leaving the site. Dominos’, a food delivery leader, utilized another tool from Yieldify to improve upon their abandonment issues. Dynamic Messaging encouraged customers to re-engage before leaving. Dynamic Messaging encouraged a shopper to convert on varied pizza specials each franchise was implementing at the time. The result was an improved experience across the board. The company saw an immediate 14% higher conversion rate.
5. Artificial Intelligence
Artificial intelligence is finding its way into every new online platform and piece of software being introduced. In 2021, companies will actively search for a competitive edge with customer frameworks that feature AI.
Artificial intelligence platforms can analyze online patterns to give businesses a better way to understand their customers.
Statistic: 84% of companies want to use AI as a competitive advantage. 63% of companies are being pressured by upper management to reduce costs and do more with less. 61% of suppliers will offer AI-driven products to improve output, and 59% of every customer wants AI-driven offerings.
6. Chatbot Integration
Chatbots will drive large enterprises to sound and act more like your next-door neighbor. When you call into one of the large online companies, you are conversing with a chatbot nearly 85% of the time.
Large multi-brand companies are finding new ways to sound like the business next door.
Statistic: 71% of consumers are frustrated when they come up against an impersonal shopping experience.
7. The Desire For Brands To Communicate More
Consumers want brands to talk with them and explain the advantages of their products or services. They do not want to be SOLD! Conversational Marketing is going to be making a big push in 2021.
Conversational marketing streamlines the one-on-one connection consumers require. 82% of consumers shopping online want an immediate response, not a “we will get back to you in 24 hours.”
The goal of an online business is to enhance the user experience with feedback from the consumer. Businesses should foster higher engagement practices and consumer loyalty.
Conversational marketing is not like a traditional marketing scheme. This new form of marketing allows for sales across varied channels like mobile and tablets. The one-on-one approach allows brands to meet consumers where ever they are.
Statistic: Accenture gives us this stat, 91% of consumers are likely to shop at stores that give them personalized shopping suggestions and recommendations across their product line. They want content that is relevant to them.
8. Interactive Content
Interactive content is one of the fastest-growing trends in recent memory. In 2021 the concept is expected to grow at an astonishing rate. 91% of online shoppers actively seek out buying services that feature interactivity.
The desire for interactive content goes well beyond being just fresh and original. The concept makes consumers feel more connected to the selling brand and deeply involved in the buying process.
Most marketing experts predict a seismic shift from text-based content to a dynamic, immersive experience. Consumers are already seeing the shift with embedded polls and calculators, augmented reality ads, and 360-degree videos.
By definition, interactive content is anything that encourages users to engage rather than consume. The following are examples of interactive and shareable content:
- Interactive infographics, by most measures, are the best online investment a company can make. The majority of time for management is involved in creating the content, the pay-offs are astonishing.
- Video, by its very nature, is interactive. Video gives marketers the creative freedom they have never had. Establishing a concrete brand message can be accomplished with the right video.
- Interactive Assessments are quietly becoming a force in modern content. The user fills in one or two blanks or several, and in return, they receive valuable information from experts. Assessments are great at your doctor’s office.
Statistics: Video numbers are bountiful for interactive content. Viewers interacting with a video stay with the content longer, resulting in a 591% explosion of user activity at the site. 85% of marketers now use video, up from a paltry 61% four years ago. 80%of users watch a video while only 20% read the content.
9. Privacy In Marketing
Privacy marketing will be a dynamic force that will see its momentum surge in 2021. Marketers across the world have become so lax that they are utterly defiant of any privacy laws. How much time do you spend each day deleting meaningless emails and texts you have banned?
Consumers only hear of the big players being fined for privacy invasions like British Airways and Marriot. We never hear of the millions of independent companies that openly defy the laws of the land without consequence. People around the globe are finally getting serious, as evidence by California’s new privacy law. The world’s fifth-largest economy enacted the strictest state privacy law ever.
It is clear consumers are getting fed-up with their information being sold to anyone with the right amount of money. People want brands they can trust and know their information is safe.
Results: Can marketing and privacy co-exist? Plenty of well-informed marketers think the new rules will thrust us back in time by 20 years. The new paradigm will say that only 5% of email will constitute the marketing budget.
10. The Omnichannel Consumer
Modern consumers are omnichannel and are geared toward companies that offer various touch points rather than a single mode of connection. Statistics bear this out; Google says 19.41% of shoppers want to socialize and buy from companies that offer various ways to connect, including phone calls. Consumers want to engage with online retailers that best suits their needs.
Forrester Research adds validity to this 2021 marketing trend. Personalization marketers report a 22.87% increase with in-person interaction for their business. Not only are consumers calling with an increased interaction rate, but they are also calling with a 23.41% higher intent to purchase.