Digital Marketing Trends
Updated 2019
During recent centuries the Marketing theory have passed several stages. We are currently in the mature Digital Marketing stage. Here are the list of majour digital marketing trends, which affect company’s tactics not only only, but also offline.
◎The Growth Of Micro-Influencers
New principle of marketing: Quality Trumping Quantity
How many followers should an influencer have?
◎ Synergy of Online and Online Marketing.
In the recent years we could see the Shift from Ofline to Online, from Online back to Offline marketing. But, the current marketing stage dictate the need for Synergy effect of Online and Offline Marketing. Example. E-business models, Amazon
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- amazon business model
How will you define a Product as a part of Marketing Mix for Amazon?
◎ Personalisation And Automation
Artificial intelligence marketing (AI Marketing) is a method of leveraging customer data and AI concepts like machine learning to anticipate your customer’s next move and improve the customer journey.
bringing out emotional connections through physical environment
1. Product/content recommendations
2. Data filtering & analysis
3. Search engines
4. Visual search & image recognition
5. Social listening & sentiment analysis
6. Chat bots
7. Speech recognition
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- Do your hotel need a chat bot?
◎ New business models
Digital environemnt provide a lot of opportunities to try new business with lower risks. It is possible due to fewer investments, more available information about customer and faster implementation processes.
Example. E-business models:
- The on-demand model – following the concepts of the on–demand economy companies which are choosing this business model online fulfills consumer demand on the basis of providing immediate access to goods and services newly needed. It is a business model driven mostly by technology companies. However, can be also found in fast-changing fashion industry.
- The customized goods model is based on the providing a posibility to make personzlized product/service (having unique experience). However, companies which are choosing this model still try to gain on economy of scale from selling mass-market products/services, just giving an opportunity of making some limited customizations (deceptive uniqueness).
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- on-demand model
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- customized goods business model
◎ New Advertising Opportunities
For example, the use of Smart Speaker for advertising and promotions in case of Shopping with Amazon Echo.
https://youtu.be/mCjvV3iFsuw
◎ Transparency As Key To Winning Customers
The appearance of review websites and review-oriented business models (Bla Bla Car, AIrBnB, Uber, Tripadvisor, etc.) shape the way how trust is creating in online environemnt.
Customers through sharing Reviews about company are Empowered As Brand Ambassadors. Thus, the power of building trust is shifted from “institutional trust” to “peer trust”.
The measure of online trust is reputation – the sum of what indivduals or a community think of you.
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- Reputation is sum of opinions.
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- from institutional trust to peer trust
◎ Growth in Content Marketing.
Why is online content important? – Because it helps in Building Trust. The quality and solution-oriented content helps in building engagement with customers,
What is content marketing is explained in the video.
◎ Co-creation and CGC – customer generated content
Further meaning of Co-creation
Co-creation as a business strategy:
– allows and encourages
– a more active involvement from the customer – to create a value rich experience.
Through co-creation, companies can access the depth of customer capabilities, knowledge and assets. And furthermore, revenues and profits are shared – together Airbnb and its “hosts” have built a company that was most recently valued at more than $25 billion, more than the value of Hyatt Hotels.
Can company co-create content with customers? – See the “One Less Stranger Campaign” video
With AirBNB you never a Stranger – Audiences Made Part Of Brand Stories. The customer review was used in this video.
https://youtu.be/s4WVhcXogGk
◎The marketplace model
An online marketplace is a type of e-commerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the marketplace operator. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process. Wikipedia
Example, AirBnB (Uber, Amazon, etc.)
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- marketplace business model
How will you define a Product as a part of Marketing Mix for AirBNB? Target group?
◎ New E-commerce Business Models:
- Dropshipping
- Wholesaling and Warehousing
- White-labeling
- Manufacturing
- Subscription-based
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- business models
