From voice-activated service tools to self-learning personalisation, this year is shaping up to be another period of exciting developments in marketing technology.
If you’re anything from an agency specialist to an in-house marketing team lead, here are just a few of the new advancements to excite all industry players in 2020.
1. Don’t rely simply on Google Analytics
It’s a well-known adage that companies with market insights simply perform better than those without. Consequently, this year will see a big push into business intelligence as companies look for ways to take their sales forecasting to the next level without having to mine for data. While they have long been the ‘go-to’ for many, reliance on tools such as Google Analytics alone just won’t cut it in, especially when coupled with some of the new features we’re going to be talking about later on.
Fortunately, Lighthouse8 has long seen what’s over the horizon and proactively incorporated this into our service offering. Using historical metrics and current transactional data, we can provide a customised reporting dashboard that provides information to your business in real-time. Additionally, our K8 technology can spot trends in advance, allowing you to get the jump on the competition for maximum effectiveness.
2. Optimise for voice search
Making sure your business can be found when customers come looking is the crux of any worthwhile digital marketing campaign. We have already seen new developments in the past few years in how brands are looking to stand out.
With Google reporting that 20% of searches through the Android Google App are being conducted by voice-activated technology, this is a marketing technology platform with further anticipated growth. In Australia, 57% of us are using voice search functions through home assistants and smartphones, a figure that is can only rise with more technological advancements in accuracy.
The selling point here is convenience – meaning that brands using search will have to bring this utility to users’ daily lives in order to make an impact. This also means that if voice search strategy is not part of your overall marketing mix, you could be left behind in the next few years.
“Voice Shopping to Reach $40 Billion in U.S. and $5 Billion in UK by 2022”
OC&C, The talking shop report
3. Automation is key
As marketing becomes more of an even playing field, there is a good chance your competition will be exploring automation tools to take back their time while reducing expenditure on resources. The main benefit of this is the use of past data rather than opinion in order to make optimising decisions.
Artificial intelligence can already perform a majority of the digital marketing tasks thought only possible for humans, including automated bidding, optimising ads and creating dynamic landing pages. Lighthouse8’s K8 technology does all of this and more at a rate of more than 220,000x the speed of the average professional – 24 hours a day, 7 days a week!
This is only one example of utilising machine learning technology to ensure that your business is ahead of market. So what happens when everyone starts using robots? While there a significant first-mover advantage existent, what will eventually separate brands is in their ability to still provide personalised services and pay attention to the small details that matter to customers.
4. Personalisation is the name of the game
The online experience should be an extension of one’s physical offering is present. Where possible, businesses should be looking for opportunities to appeal to each customer or group and despite what we have been told, this is actually where technology can help.
By feeding in a range of data points including the weather, news reports, location and customer information, algorithms such as K8, can harness this data in real-time for maximum effectiveness. For example, this can be demonstrated by a higher Click Through Rate (we’ve seen up to a +95.76% increase by increased bids on specific keywords) or in the creation of highly personalised dynamic ads.
5. Utilising data for marketing channels
Most businesses are sitting on a gold mine of information: their customer data. Primarily stored in their customer relationship management (CRM) software, such systems hold valuable audience information that can be repurposed for the new age of marketing. Today’s marketers are no longer relying on their own assumptions, choosing instead to adopt a data-driven route in developing digital strategies that directly appeal to the market.
Other technology used to gather and perform these big data analyses include social and industry monitoring software aimed at providing on-hand customer intelligence. These insights can be aggregated to form predictions regarding future customer trends and promotes more efficient media buying. Simultaneously, the explosion in the growth of data-based marketing has also led to an increase in creative production and automation technologies.
This is just a sample of the future of marketing technology and what to expect. Regardless of the industry, brand or organisation you belong to there is an opportunity to explore further digital transformation tools to achieve your business goals.