key marketing predictions for 2017

KEY MARKETING

PREDICTIONS

FOR

2017

W W W . C O M S E N S E . C O N S U L T I N G

REACHING A NEW ZENITH IN CUSTOMER

EXPERIENCE

There has been a significant paradigm shift in the way business is conducted. The brick-and-mortar marketplaces have been replaced by online marketplaces. Business decisions are increasingly driven by customer demands. Customers are technology savvy with access to multiple channels and an omnichannel presence. The devices with access to internet, have grown more intelligent and incredibly portable. Further enhancing the capacity of the internet, are the memory and processingcapacities of systems. In 1965, Gordon Moore published a general conclusion that has become known as the Moore's Law and it states that, every 18 months the memory and processing capacity of chips doubles. This law holds and will continue to hold in the near future. This drastic technological transformation coupled with increasing internet speeds, has given rise to an 'Information Revolution'.


Est. 1989

PrologueVINTAGE

Key Marketing Predictions for 2017 | 1

A while ago IBM came up with a white paper detailing '10 Key Marketing Predictions'. The paper listed insights from marketing experts, along with thoughts from some of its partners. The result was an assortment of crucial entries, ranging from across channels – Social, Email, Mobile; Technologies – Analytics, Cognitive, Advertising; And strategies – Customer Success, Center-brain Marketing, Buyer Journeys. The paper became the basis of our research.

We proceeded to further develop on the proposed ideas, and create a list that combined more than a few papers. We researched the broadly dispersed and disparate body of work through academic journals, papers and publications. Our research helped us build the hypotheses for the predictions frame by frame into a holistic view of the marketing function in 2017.


Est. 1989

IntroductionVINTAGE


'Cognitive Content' is revolutionizing marketing like never before. Leveraging the power of AI to transform content into something that speaks to customers and compels them to take action, 'Cognitive Content' is a number one trend that will enjoy the spotlight in 2017.

The biggest challenge is the sheer volume of data. There are fragmented views of customer data across disparate and multiple, unconnected or legacy systems. There is a vast amount of unstructured data in the form of pictures and videos, that still remains unclassified. Statistics show that 88% of all available data remains 'dark' to organizations


Cognitive

Content


'2016 saw the launch of the world's cheapest smartphone at $3.65. There has been an incredible surge towards the use of mobile phones,with nearly everyone around the globe using one. 20 out of 24 industry niches reported mobile as their primary source of traffic among channels, according to a study. We can notice how web developers have adapted to this change in market, generating 'responsive' themes and apps that create a seamless experience for the users on mobile. A mobile-friendly version of Google's search algorithm was released in 2015, which gives mobile-friendly websites an advantage in Google ranking. All this is vital enough to note that the mobile has turned from being an auxiliary device and a device of luxury, to that of urgent necessity.


Mobile


'Influencer Marketing'is organizations turning to micro-influencers in niche verticals to build more authentic, organic, non-scripted content that drives higher engagement. And the supporting statistics sketch an alluring picture. According to a report which surveyed 170 marketers in 2016, 86% have used 'Influencer Marketing' and 94% of those have found it effective as a part of their overall strategy. Marketers have claimed to have found profound benefits from using it. 89% are happy with the content created by social media influencers that voice the brand message. 77% cite customer engagement as key payoff. And 56% report increased traffic to websites, microsites and landing pages as a ROI.


Influence

Marketing


'Integrating every function, and creating a seamless user experience has become a pressing priority in the recent years. Sales and Marketing have converged. Several CRM functions are now managed through cross-functional and multi-level platforms. There is a growing focus on standardizing the brand voice across channels. However, the biggest disconnect remains with the disjoint experiences that are created between 'Marketing' and 'Advertising'. This has led to siloed initiatives that see far less success and never quite reach their full performance potential.


Integrated

Marketing


'Priority has shifted from 'Customer Acquisition', to 'Customer Satisfaction', to 'Customer Success' as the primary driver for company expansion. Forward thinking firms are realizing the economic value in retaining and growing existing customers. The strategy affords scope for maximizing shareholder value and increasing company longevity like never before. With 'Customer Success'still in its nascent stages, predictions are that it will develop into a central practice in 2017.


Customer success


''Center-brain Marketing' is a powerful marketing strategy, that aims to bring the 'left-brain' intensive technical people, their tools and technologies, together with the 'right-brain' intensive creative people to achieve that perfect balance. Overlaying the marketing processes, technicalities and hard-grained principles, with the emotions, impulses and drives that generally make purchase decisions happen, is at the core of Center-brain Marketing.Simply put, its where data meets design. And Center- brain Marketing is envisioned to fuel the future that is driven by Machine Learning.


Center-brain

Marketing


When it comes to channel effectiveness, email is still leading the crowd by a mile. According to a study, for purchases made as a result of receiving a marketing message, email has the highest conversion rate of 66%, when compared to social, direct mail and more. It is the best channel for ecommerce conversions and for delivering relevant and timely content to the audience. However, there are some apparent drawbacks. Email still requires click through to complete an action, like purchase or signing up. This is a daunting task in a world that is turning increasingly mobile. The statistics are staggering. About 53% of emails are opened on mobile devices. One out of every three clicks within an email occurs on a mobile device. 23% of readers who open an email on a mobile device open it again later.


Interactive

Email


Years 2014 and 2015 were about 'Big Data'. Some of the statistics relatedto Big Data growth were shocking -More data has been created in the past two years than in the entire previous history of the human race. Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. Also by 2020 there will be over 50 billion smart connected devices in the world, all developed to collect, analyse and share data.



‘Dark Data’

Visible

Though the number of new Internet users is growing at less than 10% per year, the number of new smartphone subscribers is growing at a 20% rate, says a study. And while we have predicted that 2017 is bound to be a very interesting year for mobile, the same can be said about Mobile Apps. Mobile Apps will experience a massive boost this year.


Mobile

Apps


Marketers who have understood the true essence and meaning of 'Customer Journey', realize its implications on the company's bottom line. Customer Journey is more than a Sales Funnel through which an organization can usher in users. In this rather complex and disruptive world, it is a series of touchpoints, across channels, that require a consistent and deliberate effort. When a marketer initiates a Customer Journey, he crafts compelling experiences for the customers. He delights customers through every step of the journey. And he delivers on the expectations he sets.There are multiple challenges that mar the way. One of them is keeping a holistic view of the Customer Journey Map, that pans systems, platforms, channels and teams to create a seamless experience even where disparate entities may exist

Our prediction is that in 2017, Customer Journey will become more refined. Sophisticated Marketing Automation Platforms will incorporate tools and methods for refining it. And marketers will work in tandem with technology every step of the way.


Customer Journey


Conclusion

This presentation arms you, the marketer, with key trends, strategies and terms that are vital to your role. As a marketer and business leader, you are filling a tall order of tasks, like driving initiatives and campaigns, charting a roadmap for business growth,

engaging in opportunities for innovation and seeking deeper customer connection.

As the role of the marketer becomes more critical to company performance in 2017,

the insights from this paper can be sought to infuse with your existing strategies.

We invite you to find suggestions that align with your business goals and

make them more robust. The predictions herein are designed to aid and refresh

at every stage.

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