2017 Predictions for a connected world
Digital revolution has largely been a godsend in the field of marketing. Emerging new technologies are changing the way consumers interact with brands which in turn provide avenues for marketers to reach their target consumer across a myriad of digital channels. In the connected world we live in, successful marketing will require connected, personalized and real-time customer experience. As more companies continue to embrace digital technologies to improve their marketing strategies, here are four trends that will push digital marketing further in 2017:
• The Internet of Things will drive the necessity to understand connections
The Internet of Things (IoT) is fast becoming a standard lexicon throughout the world, as industries, people and machines establish more and more connections. IDC predicts that by 2020 the IoT market will reach 8.6 billion units and create a US$583 billion market in Asia-Pacific. As IoT continues to gain traction, businesses will gain access to more touch points and new sources of customer data. For the media and marketing industry, this will fuel the need to understand these connections, particularly as consumers move across different marketing channels. Marketers will therefore seek methods to help them view and understand connections so they can ensure their audiences are targeted effectively.
• Market and customer-level analytics will see further integration
Marketers are facing increasing pressure to prove the ROI on their campaigns and they need the right analytics tools to do that. As consumers become increasingly connected across different channels, it comes as no surprise that there is more demand for personalized information, available at any time and on any device. Marketers have to achieve a true 360-degree consumer view, be able to predict their behavior and successfully execute personalized marketing campaign across multiple channels.
Despite the challenges involved in delivering a customized customer experience, Gartner predicts that 50 per cent of enterprises in Asia Pacific and Japan will adopt managed, cloud-based BI and analytics solutions by 2018. In 2017 the industry will increasingly demand further integrations of different datasets that together offer a holistic view of the campaign’s effectiveness, by combining both activity from consumers and measurements taken from the market that the brand operates.
• TV will heat up
While still seen as a traditional media, TV will become a more important tool for brands to engage with consumers. In more developed markets this will be due to the growth of addressable TV and attribution capabilities. By having the ability to segment audiences, advertisers will be able to effectively target them with influence-based campaigns that will help to drive an increase in revenue and ROI. In countries where attribution capabilities on TV are still in their infancy, we will see further testing, potentially with some of the more advanced broadcasters and operators opening up their sales houses to offer addressable-based as a serving.
• Further industry consolidation will occur
The marketing technology industry has become increasingly fragmented and disjointed in recent years as new and disruptive companies try to shake the tree. Consolidation will continue in 2017 as more vendors enter the market and as more companies, both publishers and large brands, seek to understand the value of data and to develop their propositions for the market. While there is a worry of decreased competition, there are also benefits to be reaped from the streamlined repertoire of tools available to marketers.