2019 is coming to a close, and with it the dawning of new marketing automation trends. Throughout 2019, the marketing automation sector experienced an 8.55 percent growth that shows no signs of slowing down. Market capitalization is set to reach an impressive $6.4 billionby 2024, which is why 2020 will be focused on creating unique and engaging experiences that help organizations more successfully retain their users, attract new prospects, and effectively grow. The
always-online consumer demands marketing automation, and in 2020 the following trends are ready to begin as soon as the bell rings in the new year.
Personalized Content Will Reign Supreme
Marketers are expected to continue to spend on marketing automation software in 2020. In fact, data analysis suggests that up to $32 billion could be spent on marketing automation software and technologies in 2020. The increase in marketing automation solutions is due, in part, to the growing consumer need for enhanced experiences that stem from personalized content.
An impressive 73 percent of consumers state that their buying decisions are impacted by the customer experience. While the majority of consumers crave personalized experiences, the minority of U.S. companies are creating positive experiences. In this vein, relevant experiences will need to be created and delivered via marketing automation in 2020. Responding to consumer demands is made easier when companies implement the following tactics.
- Combine social listening, on-site behavioral attributes, and past purchase data to create more robust customer profiles. These profiles can then be used to deliver highly personalized content.
- Move beyond segmentation and enter the realm of hyper-personalization with predictive recommendations that respond to the exact needs, goals, and wants of consumers.
- Improve the customer loyalty index by simultaneously focusing on retention marketing and cross-selling (or up-selling) opportunities. The ability to cross-sell is made possible when marketing and sales work together. A sales playbook can provide the step-by-step insights needed to create positive retention marketing campaigns that highlight opportunities for cross-selling.
Creating, managing, and seamlessly executing hyper-personalized campaigns at a large scale is only made possible with the right CRM. The CRM should be equipped with marketing automation capabilities that can integrate with existing business technologies, collect user data from various channels, and streamline content delivery. In short, without the right CRM, businesses will be in a sinking ship and unable to keep up with their competitor's marketing automation efforts. Of course, if you find yourself struggling with a fake CRM, then you can read our latest insights to discover what actionable steps you can take to correct your marketing weakness.
Chatbots Will Continue Making Waves
Chatbots used to have the digital reputation of annoying pop-up ads that wouldn't go away no matter how many times you clicked on the hidden "x." However, over the years, chatbots have becoming increasingly smarter. Now, as chatbot capabilities have grown, they are growing increasingly ready for deep integration into hyper-personalized marketing efforts. In fact, a recent ZdNet study 54 percent of respondents stated that they preferred engaging with brands via chatbots rather than another app. The study highlights the user engagement possibilities that chatbots hold. Additionally, in 2020 chatbots are staged to begin making behavioral recommendations that will further enhance the customer experience.
From Facebook Messenger to WhatsApp, chatbots will help businesses capitalize on brand-user engagement. Oracle's latest survey revealed that 80 percent of the top global decision makers will begin to use chatbots in business operations by the end of 2020. These human-trained computer programs are becoming more adapt at providing a seamless exchange of information.
The best part about this upcoming trend is that chatbots can positively enhance business operations during peak seasons without increasing costs. Just as data servers often require additional power during peak usage times, so too do businesses need to effectively respond to peak consumer demands. Chatbots just might be the marketing automation solution needed to engage with customers without using funds to train part-time (or peak seasons) employees. Time will tell if chatbots can become more human in their responses; if they do, then this trend is sure to exceed current usage predictions for 2020.
Automated Social Media Marketing
In 2017 the average time spent on social media was 135 minutes per day. In 2019, the average time spent on social media increased to 143 minutes per day. In 2020, brands want to increase their portion of social media screen time. Automated social media marketing might provide the solution that brands crave as they face increasingly competitive marketing conditions.
Data insights suggest that organic visibility will continue to fall on social media platforms throughout 2020. To combat this fall, social media ad targeting will become more advanced. In 2019, brands increased their social media budget by 20 percent. Experts predict that the social media budget will continue to increase as social video advertising reaches new heights. Finally, stories now include a linking feature that will help brands improve their social media marketing conversions. The totality of these findings suggests that automated social media marketing will become a competitive necessity in 2020.
The Bottom Line: Marketing Automation Continues To Evolve At Warp Speed
As marketing automation continues to evolve at warp speed, we have just one thing left to say ... may the force be with you. In 2020, businesses will need to be ready to instantaneously adapt and evolve to new marketing trends if they want to enjoy high customer retention rates, improve customer loyalty, and enhance customer lifetime values. Fortunately, the Maven Sales Group is ready to help you navigate these new waters.
Whether you want to learn more about Account Based Marketing (ABM) best practices to build robust buyer profiles, discover how a sales playbook can benefit your marketing and sales departments, or are interested in leveraging the power of a carefully crafted network, the Maven Sales Group is standing-by. Discover the customized insights that you need to reach new levels of success as you learn how to leverage marketing automation to your business advantage. Contact a member of the Maven Sales Group today to begin preparing for exceptional growth in 2020.