Market trends can help shape an industry. It enables businesses to get a new viewpoint on how they should proceed. While many trends come and go in digital marketing and online advertising, some trends stay relevant. These advertising megatrends are used by businesses to help themselves grow and flourish.
If you are looking to upscale your business and incorporate the best online advertising strategies, here are five online advertising megatrends to take note of:
1. Conversational Marketing
According to Hubspot’s “Not Another State of Marketing” report, over 45% of businesses have included chatbots on their business websites. These chatbots have become an important part of digital marketing. Throughout the years, the idea of using conversational marketing causes minor issues that annoy customers. Some of these include missing information such as delivery charges, business details, and many more. As a result, this can have a bad influence on your business.
This is where conversational marketing comes in. It enables businesses to advertise themselves as a brand that values customers’ ease, convenience, and time. Chatbots have helped customers collect useful details from companies fast. In addition, if a customer feels stuck or confused, a customer service agent can quickly jump in and help. However, recent trends have also found that customers prefer live chats on certain occasions. This is why businesses need to identify when they should use a chatbot and when to use live chat.
2. Email Marketing
Email marketing is considered the most profitable form of digital marketing. According to the Data and Marketing Association, the return on investment (ROI) on every dollar spent on email marketing is $42. This means if one email marketing campaign costs you $1 to run successfully, you will earn $42. Clearly, email marketing offers quite a high return.
Other benefits of email marketing include low costs, instant income, wider audience, and ease of performance measurement. Moreover, if you run email marketing campaigns by carefully collecting email IDs with consent, you are sending out emails to your target audience. This will allow you to send relevant messages to people who are interested in your business.
3. Programmatic Advertising
One of the most powerful online advertising strategies is programmatic advertising. In programmatic advertising, a bidding system is used to automate the complete ad inventory. Different online advertising slots for TV, video ads, voice ads, streaming, digital out-of-home, and streaming ads are almost non-existent to people in this day of age.
One of the most obvious benefits of programmatic advertising is a wider audience reach. With greater targeting capabilities, programmatic advertising allows you to reach out to more audiences without having to put in a lot of effort. So consequently, it enhances the efficiency of your online advertising model. Programmatic advertising also provides marketers a better view of their marketing strategy, therefore you would need to know what type of audience is viewing your ad, and how much it is costing you to run a particular ad via a platform.
4. Influencer Marketing/Advertising
Another powerful digital marketing mega trend that can help upscale businesses is influencer marketing. Influencing your customers’ purchasing decisions is very important when it comes to making sales, and one of the best ways is using a notable public figure. In other words, Influencer marketing involves collaborating with a public figure and getting them to promote your product rather than doing it yourself. This public figure can be anyone who has a positive social media influence. For instance actors, athletes, writers, models, or musicians.
Most importantly, keep in mind that influencer marketing can be a costly digital marketing venture to undertake. So, you might need to set aside a substantial budget to allow this to happen. According to BigCommerce, 17% of companies spent half of their online advertising budget in carrying out influencer marketing for their business. Therefore, the biggest benefit of influencer marketing is the ability to build trust like no other online advertising strategy. As a result, when people watch their favorite public figures promoting a brand, they are compelled to make a purchase naturally.
5. Google and Facebook Advertising
In our previous blogs, we have talked about 3 must know Facebook advertising tips, as well as advertising at Facebook marketplace. Because it is so important, nothing beats the classic Google and Facebook advertising. Google advertising offers a trustworthy and profitable online advertising strategy. Users trust Google as an information king. The general belief is that if Google recommends something, it should be good. Thus, striving to run Google ads can be super beneficial for your business, instead of trying to rank higher when using Google advertising. Furthermore, Facebook advertising is another megatrend that won’t die down anytime soon. On Facebook, companies can micro-target their audience, reach a huge customer base, and run goal-oriented ads. All in all, the robust analytics enables businesses to model their digital marketing strategies to not only find good quality leads but also encourage customer loyalty.