Digital Marketing Trends
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Transcript of Digital Marketing Trends
Digital Marketing Trends
Digital is not coming. It’s here.
More choices & technology. More confusion. Stick to the fundamentals.
Know your brand. Know your audience. Create alignment. Be authentic.
Digital is not a tactic. Have a digital strategy.
Hire for digital expertise. Expect more from your agencies.
Digital Marketing – Current Landscape
“All digital marketing is brand building”Marc Pritchard, Global Brand Building OfficerProctor & Gamble
Top Marketing Challenges
1. Too many channels – too many choices
2. Data overload and confusion
3. Connecting and engaging with the target audience
Digital Marketing
By 2019, CMOs predict digital marketing will account for more than 75% of the marketing budget.
Source: Accenture Interactive, 2014 CMO Survey
Digital Marketing
Source: Gartner, Inc., “Forecast Analysis: Enterprise Application Software, Worldwide, 1Q14 Update”, April 29, 2014
Gartner predicts that, by 2017, the CMO will have a larger IT budget than the CIO.
$103 BillionDigital marketing spend by 2019
Source: Forrester’s US Digital Marketing Forecast. 2014 to 2019
Preferred Devices
Source: 2015 Accenture Digital Consumer Survey
Trends Fueling Digital Marketing
Trends
2. Technology Expansion
1. The Empowered Consumer
3. Channel & Content Acceleration
1. The Empowered Consumer
Connected
Informed
Demanding
Connected
Source: DigitaLBi
• 72% of smartphone users use their phone when shopping in-store
• 40% will call friends to get an opinion• 35% post photos of their prospective purchases for
‘feedback’ and decision reinforcement
Informed • 82% of online shoppers use the internet to research products before making a purchase.
• B2B: 57%
Source: comScore and eTailing Group – Pulse of The Online Shopper, 2014. CEB 2014.
Demanding • 54% of consumers would consider ending their loyalty relationship with a brand if they were not given tailor-made, relevant content and offers
Source: CMO Council
2. Technology Expansion
Mobility
Devices
Collaboration
Mobility
Mobile is the “power-tool” for today’s consumersSource: 2014 salesforce.com Mobile Behavior Report. Return Path 2014. ComScore 2014
• 51% of emails are being read on a mobile device• 72% of US mobile phone users are smartphone owners
Innovation is creating new
touch-points that consumers
didn’t even know they wanted.
Devices
We Are Here
• New devices are creating even more channels
• The ‘Internet Of Things’, will be by far the world’s largest device marketSource: BI Intelligence Estimates
2013 2014 2015E 2016E 2017E 2018E 2019E0
5,000,000,000
10,000,000,000
15,000,000,000
20,000,000,000
25,000,000,000
30,000,000,000
35,000,000,000
The Internet Of Everything Internet Of ThingsConnected CarsWearablesConnected/Smart TVsTabletsSmartphonesPersonal Computers
We Are Here
Devices
Collaborative Economy
• An economic model that let’s people get what they need from each other using commonly available technologies
• Bypassing traditional corporations
Source: Crowd Companies. April, 2015.
• In the next 10 years, PWC predicts the Collaborative Economy will grow from $15B to $335B revenue
Source: Crowd Companies. April, 2015
• 10 year old etsy. 19M active shoppers, doesn’t own a single factory or showroom, had an IPO for $3.8B
• 8 year old Lending Club has issued over $7B in P2P loans, doesn’t own a single bank, branch or ATM and is valued at $7B
• 7 year old AirBnB has over 23M guests, doesn’t own a single bed, bath or bar, and is valued at $20B
• 6 year old Uber had 140M rides in 2014, doesn’t own a single taxi or towncar and is valued at $40B
Collaborative Economy
Over 150 brands now partner with, sponsor, or buy-out collaborative economy companies
3. Channel & Content Acceleration
Social
Content
• Email is not dead• 4.1 billion email
accounts. 5.2B by 2018• Marketing automation
and CRM increasingly critical tools for digital marketing success
Social
Source: Domo, 2014. Sprout Social.
Content
Millennials • 90% create online
content 1x/month
• 75% curate content 1x/week
But the average attention span has dropped from 12 seconds in 2008 to 8 seconds.
Source: National Center for Biotechnology Information, U.S. National Library of Medicine, The Associated Press. 2014
Source: National Center for Biotechnology Information, U.S. National Library of Medicine, The Associated Press. 2014
. . . the average attention span of a goldfish is 9 seconds.
How To Navigate The Digital World
How To Navigate The Digital World
• Activate Your Brand– Know Your Brand & Know Your Audience
• Develop Great Brand Experiences– Meaningful & Purposeful Communications
• Cultivate Ongoing Engagement– Monitor, Innovate, Analyze and Optimize
The brand story your clients think they have may not be the same one that their customers are thinking. This is where Long and Short of It can help. We use insights based solutions to provide clear strategic direction.
BrandingBrand elements connect the internal vision with the external brand expression.
Strategic PlanningMeasurable objectives, insights, strategy and tactics to achieve the desired outcome.
IdeationStructured brainstorming yielding many ideas and then distilled into a short list to be tested.
InnovationDesign thinking process, tools, and methodologies to help create new products, system, or solutions.
Customer InsightsResearch to determine what customers are thinking, feeling and doing.
ResearchThe cornerstone of everything; we employ all qualitative and quantitative methods.
Sue Stabe / [email protected] / 330.730.5648Let’s DiscussDean Ilijasic / [email protected] / 216.570.1719
Let’s Chat