With another year of innovation ahead of us Fred Wilson was right to have a few predictions but also some interesting questions. He may not have any exact marketing trends to highlight but we can assure you there will definitely be a lot going on this year.
Here are a few of my new year resolutions for data-driven companies:
Resolution 1: Get GDPR ready
With GDPR going into effect on the 25th of May this year it is time to get up to speed and act fast, data driven or not.
Here a few links we found useful when were looking to become GDPR compliant:
- A self-assessment tool helping you become GDPR ready.
- Data Protection: Big Data and Machine Learning.
- A dummies guide to GDPR.
Resolution 2: Get on the micro-Influencer marketing wave
Is 2018 the year you will be riding the successful wave of influencer marketing? Are you interested in gaining access to a variety of influencers to transform your campaigns? If you haven’t considered it, think again! Here a few statistics to help you make the right decision:
- According to eMarketer, 81% of marketers who have used influencer marketing have deemed it as an effective strategy.
- Sprout Social has also identified 74% of consumers trust peer recommendations over brand advertising.
What to remember when considering influencers:
- With an influencer for every budget available, it is essential to analyse the relevance and resonance an influencer holds within your target audience and the reach they posses on social media.
- Influencers are spreading like wildfire which is a great thing however that is exactly why influential novices are important to consider.
Resolution 3: The death of dark posts is approaching, be aware.
As a result of the behavior of a few press agencies between other things during the US elections, Twitter announced its advertising transparency center, while Facebook announced additional transparency for all advertising.
How does this affect you?
- All promoted tweets or posts will be completely visible, accessible and searchable.
- Micro-targeting and ad personalization will be visible.
- Your audience and competitors will know who you are targeting and how you are targeting them.
Resolution 4: Embrace the “Conversational World”
Since the rise of Social Media thousands of brands have moved towards active consumer engagement by initiating customer conversations and implementing real-time chats (bot activated or not) on company websites or in-app. Conversations have been moved from the public domain to private channels in hope to gather all conversations (via Twitter, Facebook, Messenger, Instagram, Whatsapp, Web, etc.) in a single place.
With technology continuously evolving it is essential to adopt new changes as competitors are always looking for ways to bridge the communication gap with their consumers making direct interactions via any channel easier, automated via a bot or not.
Interested in learning more? Keep a lookout for the release of Joshua March’s book The Rise of Messaging.
Resolution 5: Apply Direct Response 2.0 to your Marketing strategy
Jeff Jordan, a general partner at Andreessen released an informative podcast early last year outlining the shifts, trends and what they mean for new marketing skill sets, capabilities, and tools.
The podcast highlighted the following trends:
- The rise of crowd-based social commerce: A good example? Tesla Model 3 preorders hit $148B in ONE week.
- The rise of promotional transparency: Targeted, performance-based, trackable over time and transparent advertising for all.
- The rise of Experiential Shopping: A good example? Instagram Retail: Browsing and shopping in a single platform. A great trend to keep in mind whilst planning your digital transformation.
Resolution 6: Think Exponentially not Linearly!
An entrepreneur I have always admired, Juan Martínez-Barea, reminded me this Christmas during an event in Málaga how as humans we always think linearly. Why is this important? Artificial Intelligence is going to explode and every industry will be changing drastically, so think exponentially about your long-term strategy.
Our mission at Audiense is to enable innovative organisations to understand and apply the power of audience insights to deliver results. AI is at the heart of our platform, tune in to experience the awesome things we will be doing this year!
P.S.: My 2018 in a post-it!