Business Strategy

What Marketing will be like in the Next Five Years

What Marketing will be like in the Next Five Years

1Consumer behavior, as well as technology, will continue to advance in ways we cannot easily predict. Simultaneously, marketers and advertisers alike will have to come up with innovative means to promote brands and products at a time when trade and various business platforms are becoming more dynamic than ever. So how will marketing look like in the near future, and what changes can we expect in how brands and people interact in, say, the next five years? Here are some forecasts coming from two key advertising agencies in the ad industry.

Brands

 

Mobile – personal interactions

For the past few years, mobile has largely changed the way people interact with one another. The same is true for brands and individuals. Mobile has and will continue to pave the way for more personal dealings between companies, their brands, and consumers. Rightly so since the majority of our 7.1 billion strong population, myself included, have smartphones in our possession. Mobile has become the dominant means for people to interact with other individuals and even representatives of any and all organizations, groups, companies, and brands. The way people consume content has shifted towards the small screen while still having an option for a more personalized experience with customers. All those screenshots and memes of personal messages with brands on social media platforms like Facebook show just how personal branding and communication have become nowadays.

Transparency

With digital marketing thriving more than ever, demand for transparency also rises. The technology and tools we have today make it easier for consumers to access the information they want or might need. Governments are made accountable for the decisions they make by honoring the fundamental right to information. Organizations like Wikileaks provide access to information through online platforms. Consumers nowadays, also demand more details on brands before making a decision on whether or not to purchase the products these brands are selling. And with pressing social and environmental issues all around the globe, more and more consumers also expect brands to do good. Many customers and product consumers prefer to make informed decisions by knowing the values companies have and whether brands are also good for the society as a whole. Hence, brands need to be able to demonstrate the values they uphold in a transparent and genuine way to convince consumers why they are the best choice out of all the competition in the market. You can even consult with your IP attorney about the information that you can disclose with your customers.

2

Rise of video and video sharing

Together with the increase in mobile usage and the increase in demand for genuine branding and transparency, comes a platform that allows brand and consumer interaction. Video sharing satisfies both mobile market and demand for transparency. It allows a visual storytelling of the products and values a brand sells and represents. A marketing turn happened when online platforms provided a gateway for brands to become more creative through digital advertising in the form of video snippets and streaming. The option to do live videos is also an emerging marketing strategy that brilliantly lets brands build more direct and interactive relations with their clients. Many customers prefer content they can quickly check and one that invites them to engage actively. Video sharing through social media platforms does this and will continue to influence the marketing industry in the years to come.

Startup Marketing Companies

3

Social

Social media will likely be something we no longer need to mention. As social media presence increases and gets stronger over time, platforms like Facebook and Instagram begin to dominate the advertising industry. Commercials and advertisements are now running on these social media platforms, more than they did on the different major television networks worldwide. We also talk about high figures per Instagram post, not to mention the minute-long videos we can now see on our feed. Everyday millions of users including myself check our different social media accounts and only time can tell when going online becomes something we can just take for granted, a given in our everyday routine. And when we no longer fuss about being social, and this will happen soon, then we know this medium has succeeded.

App proliferation

For startup and marketing companies, developing applications users and potential consumers can use is a big and reliable step to success. So much money is spent on and generated from the countless apps that makers create. With the explosion of apps, some would say its development is becoming an industry all on its own with a majority of marketing channels now only accessible through an API input. In the years to come, mobile apps will remain a useful and vital channel for the marketing of startup companies.

Increase in modern marketing

In connection with what we talked about earlier, the proliferation of smartphones, changes in consumer demands, and emerging markets will only propel the increase in modern marketing. Beginning with digital marketing and all the transformations we saw for the past years, we will continue to have a growing customer base. Hence, marketers will face ever-changing and challenging marketing methods in the next few years.

Journey Mapping

Personalizing consumer experience is just one among many ways of engaging the market and increasing sales activities. For brands to proactively communicate with their niche market, journey mapping is a tried and tested strategy. Tracking consumer behaviors is useful in understanding how brands and products must adapt to a fluid market. Technological tools have provided us the means to understand the actions of our customers. And an almost perfect end-to-end attribution is something we still have to look forward to, but it is something we can expect in the near future.

Takeaway

Technology and consumer interests and movements will remain unpredictable in the coming years unless we come up with an unlikely technology that will calculate and identify all possible market behaviors and actions. What we have, though, and what we can rely on, for now, is a look into how marketing will move forward about technological tools, brand, and customer dynamics. What is sure for now is that modern marketing and its complexity will only continue to expand.

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Business Strategy

Earl Jonathan Tech is the founder of PrintMeister, an online printing company that is currently making waves in the marketing and advertising industries of Australia. Earl spends most of his time providing for his clients’ business needs through print.

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