You cannot underestimate the power of a good digital marketing campaign. Recent campaigns like Samsung’s The Galaxy Skin and Burger King’s Whopper Detour are perfect examples of the importance of digital marketing for modern businesses.
Harnessing martech tools and platforms effectively, combined with precise data-driven targeting can lead to change on a global scale.
Although most of us have more humble objectives and budgets to match, we can definitely learn from larger scale campaigns. We should also seek to understand platforms, targeting methods and technologies as they continue to emerge and evolve, and think creatively about how we can use them to engage our audiences and generate leads.
The digital marketing landscape is not for the faint-hearted. It’s cluttered and overwhelming and is unlikely to slow its growth in the near future. So here’s our take on the things you should keep an eye on in the next 12 months.
The Martech Boom, since 2011
Scott Brinker has been keeping tabs on this space since 2011 through his well-known Martech Landscape ‘supergraphics’. They show how much the space has changed since its humble beginnings. Take a look.
The boom is real.
According to a recent Gartner survey, martech ate up nearly a third of CMO’s budgets, making it the largest area of investment for marketing resources and programs. This is expected to grow with continued investments in 2019.
So, the boom is likely to continue.
According to the survey, CMOs spent an average of 25 percent of their martech budget on three channels: search (11.2 percent), email (5.9 percent), and website (7.6 percent). Marketing and customer analytics platforms accounted for 8.9 percent, indicating the need for measurement tools – and processes – to continue supporting these programs.
Albeit a slow burn, podcasts are finally gaining mass-market approval. 2019 marked the beginning of a new era for the concept, with Spotify’s purchase of Gimlet Media (for a cool $200M) and the launch of new podcast streaming subscription platforms like Luminary.
According to marketing veteran Seth Godin, 25% of the U.S. population now listens to podcasts on average for six-and-a-half hours per week. He also predicts that this year businesses will spend $515 million sponsoring U.S.-based podcasts.
Rumoured to launch a “Create a podcast” button within its app, Spotify is also making it easier to create and publish audio content – providing marketers the opportunity to dip their toes in the ever-growing pool of podcasts with ease.
The rise of the bots
While we’re not quite at WestWorld level (yet), chat bots are becoming a very familiar part of the digital landscape. Juniper Research predicts chatbots will cut business costs by $8 billion by 2022, so it’s understandable that 80% of businesses want to implement them by 2020.
Some ways digital marketers are leveraging chatbots include:
- Gather initial information from leads: bots can collect contact information, whether or not they’re already a customer, and the areas where they need support.
- Customer service: customers can solve issues and get answers to enquiries through chats with bots in real time.
- Scheduling: Bots can take care of administration tasks such as call or meeting scheduling
- Social media marketing: Chatbots can be added as an extension on various social media platforms for basic level enquiries and to resolve initial level queries.
If you’re going to bring chatbots into your business, you need to make sure you’re not doing it to fill a short-term need or just because your competition’s done it.
As Kipp Bodnar, CMO of HubSpot put it, “The enemy of remarkable marketing is impatience”. So, think long-term what customer needs chatbots will fill and how you will ensure that it adds value rather than creates points of frustration. Make sure you include bots in your digital marketing strategy, so its relationship to other channels is considered.