The world of business is ever-changing as it grows and transforms through trends and patterns. Here are some marketing trends to look out for in 2020. As we enter a new decade, businesses can use this opportunity to examine the markets and put this information to use.
The following are some new emerging trends that businesses will be moving towards:
A move towards digital maturity:
As the world of business progresses, we have seen a shift towards digital maturity as we exit the digital transformation stage. The digital maturity stage is the continuation of the customer experience. Businesses are moving towards managing the total customer experience by gathering predictive customer data. This data is being utilized for improving marketing, customer service as well as sales. Digital maturity will help businesses move towards a customer centric approach.
Increased focus on Marketing:
Throughout the years, businesses have often overlooked marketing or viewed it as an additional cost. However, businesses are now leaning heavily towards marketing as it can significantly boost the bottom line. Through studies, it is evident that CMOs are becoming a main factor for transforming a business model. These refer to the transformations that exist along all the functions of the business – down to the front line employees working with customers. Note that an investment in the business is a direct investment to your bottom line!
Artificial Intelligence (AI):
Technology has taken the greatest leap within the last decade and will continue to do so. Currently we see a move towards Artificial Intelligence as businesses grow and expand. AI is currently being used to predict the effectiveness of content for each customer. This essentially means that businesses are now able to target content for specific customer segments. An interesting example of this is that metadata is now able to extract the emotion that is evoked by single words or phrases! This information will allow businesses to leverage these emotions and create personalized experiences on an individual scale!
As a business it is key to stay informed and understand ongoing trends in the market! Information is key to staying competitive. Start by researching and looking for ways to implement these trends within your businesses marketing strategy!
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