Accenture Interactive recently did a study that reveals how chief marketing officers across several industries feel marketing will change in the coming years. The study found that 78 percent of all CMOs surveyed agreed that “marketing is expected to undergo radical changes over the next five years.”
What are these changes? The world of marketing is always changing and with technology it is changing very quickly. Some of the expected changes were revealed in the study, which asked CMOs what they expect to see. Here are five of those changes and what they mean for your business.
Digital will Account for more than 75% of Marketing Budgets
Digital marketing is becoming more and more vital to business’ success. In the coming years, your company will need to embrace digital marketing tactics like search engine optimisation, social media marketing and pay-per-click advertising. All of these forms of online marketing can help you build your brand, increase awareness, boost sales and accomplish all kinds of business goals.
Mobile Specifically will Account for More than 50% of Marketing Budgets
We’ve known for a while now that mobile marketing is growing quickly. In the next few years, many expect it to account for more than half of marketing budgets. If you don’t want to be left behind, you need to embrace mobile marketing.
Mobile marketing can include things like social media, mobile apps, responsive site design, text message marketing, email marketing and sophisticated technologies that allow businesses to track customers, through their smartphones, as they come into their stores.
Earned Media will be more Important than Paid and Owned Media
Earned media is becoming more valuable. Focusing on things like distributing press releases, providing high-quality content and reaching out to bloggers will result in coverage that will bring brand recognition and site traffic.
Earned links are also an important part of search engine optimisation, so producing content that people will want to link to is important to multiple aspects of Internet marketing.
Marketing Campaigns will Begin Unfolding in Real Time
Real-time marketing is made possible with social media and the ability to quickly update blogs and websites. This kind of marketing is often in response to news events or pop culture or just as a way to make a product launch more exciting. You can lay the groundwork for this kind of marketing by building up your social media and blog followings and keeping tabs on what is happening in your market, industry and community.
Analytics Skills will Become a Core Competence in Marketing
Website, social media and other social media analytics can tell you whether your marketing is working and can help you understand how to make your campaigns more effective. Keeping close watch on how your tactics are performing, how your market reacts and what kinds of results you are getting will help you enhance your strategies.
There’s no question that digital marketing is the way of the future. Your business will need to use online tactics and strategies to keep up with its competition, reach its market and succeed.