By Jeff Bullas
I would have written you a shorter letter but I didn’t have the time.
This quote attributed to many different sources sums up what we are facing in this now very complex world. But keeping it simple and short takes time and effort. Distilling the complex into something that makes sense in one sentence or even a six second video is an art form that is to be treasured.
But as marketers that is what you are confronted with. Increasing complexity. It is just one of the trends that will impact your business in the years ahead.
We also need the right tools, platforms and technology to help us scale the huge amounts of data and noise that now confront us online. Here are 7 digital marketing trends that you need to keep your eye on.
1. Increasing complexity
Tech is largely to blame for making marketing complex. But it’s also the answer. Making sense of tons of data, always on marketing and the many forms of splintered media is something tech platforms do well.
Right alongside that sits different categories of complex. Facebook advertising is a discipline on its own that requires focus. Then add the dark science of “Search Engine Optimisation” and understanding the many moving parts that require mastery.
The types of media we need to master includes live streaming, Facebook videos and GIFS and Infographics. Then you need to master marketing automation and artificial intelligence tools and platforms.
2. Marketing technology
Marketing technology (sometimes called Martech) is continuing to grow. According to Venture Beat there has been over $134 billion invested in this category in startups in just 5 years. In 2018 IDC is predicting that CMO’s will spend $32 billion on buying and implementing Martech solutions.
But the category has 3 core categories. B2B marketing, B2C marketing and advertising technology. It should not be seen as one size fits all.
According to Ajay Agarwal in an article on TechCrunch there is an interesting divide between spending on marketing versus sales between B2B and B2C. B2B companies spend much more on their front end sales than on marketing at a ratio of 10:1. B2C spends a lot more on marketing than sales with an inverse ratio of 10:1.
Maybe we will expect to see Salesforce dominate B2B marketing tech as it is the dominant sales tool for B2B globally.
He sees the key trend and opportunity as one in which a B2C marketing company can create a B2C system of record from the start of the customer journey to sale.
3. The rise and rise of algorithms
The beauty at the the birth of social media networks was their simplicity. They flowed past you unfiltered.
Twitter was a distilled stream of unfettered consciousness. Facebook was a flowing page of diverse ideas and people. And some sat outside your tent of ideas and interests.
But things have changed.
The need to make money from the platforms meant that algorithms needed to be programmed to ensure that the social networks could start to monetise their distribution. The organic reach that Go to the full article.
Source:: Jeff Bullas Blog