HOW MODERN TRENDS ARE INFLUENCING MARKETING STRATEGIES?
Your business, if it does not align with modern trends, will be seen as old-fashioned. It also risks being excluded from the marketplace. To stay counted, it needs to keep pace with modern trends and adapt. This will help it to stay relevant in a competitive evolving marketplace.
Modern trends play a prominent role in the world of marketing. They help to influence and shape marketing strategies. That’s the sign of GREAT MARKETING.
Top marketing blogger/speaker Joe Chernov perhaps said it best when he said, “Good Marketing makes the company look smart but Great Marketing is what makes the customer feel smart.”
Changing consumer behaviors, rapid technological advancements, shifting and regulatory changes, are all altering the marketing landscape. This makes it imperative for businesses to stay updated with the latest modern trends to stay counted in an evolving marketing landscape.
HOW THEY ARE INFLUENCING?
Marketing landscape in a rapidly changing world is evolving. As technology and allied factors grow at a breathtaking pace, it’s fascinating to know how they’re impacting marketing strategies.
The following aspects reveal how modern trends are playing an influential role.
INCORPORATION OF AR/VR
The early versions of AR (Augmented Reality) and VR (Virtual Reality) were not taken seriously. They were seen as a passing fad. Today, they’re getting more and more integrated with strategies.
Many experts predict marketing’s future will be shaped by these technologies. They usher in a new brand of immersive experience with visual storytelling. Thus helps to craft experiences that not just engage but also enthrall the audience in a fun and engaging manner.
Given its immense potential to create emotional connection and fuel a more meaningful engagement, they have become a strategic imperative for marketers. By harnessing them creatively, marketers will be able to make their strategies more effective. For instance, marketers can use VR with LED Panels as the backdrop to display video or computer-generated imagery to create interesting content.
Companies that incorporate AR and VR as part of their strategies benefit a lot. Their brand will see increased recognition, greater awareness, and increased word-of-mouth referrals and sharing.
PARTNERSHIP WITH INFLUENCERS
Of late, influencers have become more prominent. Many businesses use their services to promote their brand and offerings. 51 percent marketers confirm influencers are a key part of their strategies and have been instrumental in acquiring more and better customers.
What makes the trend of influencers so popular?
Influencers in today’s digital world play a vital role. With their power and influencing capacity, they
- Determine people’s opinions. When people are positively influenced, they help to boost your sales. With their loyal followers, they have the power with just a single post to make or break a company’s product or services.
- Help to build trust. With their strong connections with their followers and sway over people, they can convince them to develop trust in your brand and maintain brand loyalty.
- Foster para-social relationships with their audience. This convinces them that they’re a part of their lives.
It is precisely these reasons as to why marketers are keen to make them a part of their strategies for the long-term. This way, they are better placed to tap their connections and cultivate new customers.
LIVE STREAMING
It was during the COVID pandemic lockdowns that live streaming caught on rapidly. During the lockdown, they became a ubiquitous part of marketers’ strategies.
Earlier, it was confined to Video Gaming only. As video gaming gained popularity in several aspects from interviews and tutorials to eSports competitions, concerts, etc, as a concept, marketers began to see them as something that can be a part of their strategies as well. Already many of them are leveraging it, especially in Instagram Live Rooms and Twitter Spaces.
What has contributed to making it a popular modern trend in marketing is its communal nature. It gets the community to watch and engage with the streamer as well as with each other. Besides, it is flexible and adaptable with minimal obstacles. Marketers will just need to invest in some equipment and be tech savvy enough to use it as a form of marketing. Additionally, they can reformat the recordings for other categories of content. Finally, hosting live streams helps marketers to connect with their target market seamlessly.
GREATER USE OF SHORT FORM VIDEO CONTENT
Video Marketing has become an essential plank of marketing. Platforms like YouTube, Shorts, Instagram Reels, etc, have significantly contributed to their rising popularity.
An astounding 91 percent consumers, according to a 2023 study, love to see from brands more online video content. As a result, marketers are driven to incorporate them into their strategies and platforms.
92 percent marketers feel that with video coming to play a more important role in the coming years, short-form video content will witness a significant rise. With audiences showing shorter attention spans, social media platforms featuring short-form video content will strike a greater rhythm with them. Most importantly, they can be used as not just a part of strategies but also for launching offerings, sharing customers’ reviews and testimonials, telling stories, and so on.
With their ability to strike the right note with modern audiences, short-form video content will be a critical ingredient of strategies for brands to communicate with their audience.
INCREASING AI-DRIVEN INTERACTIONS
We’re living in a fast-paced world today. People want instant gratifications’ like quick answers to their issues and queries. AI-powered chatbots and virtual assistants help companies to meet this demand. They not only engage customers, but also ensure speedy response to their problems and queries. This way, the customer will experience a pleasant personalized experience.
Chatbots equipped with conversational AI get customers to engage with them in human-like conversations. They get answers to their questions and assistance through processes. The overall satisfaction ration has enhanced significantly.
More marketers as part of their marketing strategies are using conversational AI-driven chatbots. This helps to provide round-the-clock 24/7 support. Many businesses using them have witnessed more conversions. With more conversions, they are getting to make more sales. This finally helps to improve their bottom-line.
MORE PERSONALIZATION THROUGH DATA & ANALYTICS
Digital-age customers want nothing less than personalized experiences. Marketers realize this and are increasingly incorporating personalization as a part of their strategies. By incorporating it, they are going beyond just knowing their audience’s preferred channels and platforms. They are digging deep to understand their audience’s needs and tastes so as to deliver content that provides a delightful personalized experience.
Personalization has become a trend, a standard in fact for engaging customer service and care. Marketers get to collect useful data through social media, websites, etc. Then, later leveraging advanced analytics tools they can streamline the data to tailor campaigns and ads to each consumer’s preferences. This has come to be termed as personalized marketing.
Ads, content, and product suggestions in personalized marketing are customized to cater to consumer’s preferences.
As new trends come to play a key role, marketing sector will see profound changes. This will compel marketers to alter their marketing strategies. By staying in tune with the latest modern trends and embracing them, marketers will be able to craft more effective strategies. This will help them to taste success in an ever-evolving marketing landscape.
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