What is the future of marketing and what are the top digital marketing trends in 2020? I have been reading several stories and predications which outline few sexy and attractive marketing technologies and tactics such as voice search, micro-influencers, automation, and of course AI.
Wonderful, but this all just trendy news we have been collecting for years now. We need to sense the future of marketing and predict upcoming challenges. Living another day is going to be a battle for marketers since the business environment is evolving rapidly.
Where we stand now? the majority of marketers are not considered yet about the future of marketing. According to the most recent figures of 2019, the CMO survey indicated that the majority of marketing leaders are more focused on managing the present.
Digital marketing has been evolving during the last 4 years dramatically and some people are not paying attention. The changes have been coming in different waves for almost 10 years between 2010 to 2020, and these changes are not going to settle down easily. The marketing future is going to be brutal in the coming years more than any time before. We have been seeing strong indicators of this major shift in digital marketing, yet we have been consuming it slowly or resisting it.
However, I did learn a great fact during my years of leading marketing teams and consulting brands, and by speaking to my fellow marketers across different industries and regions. This fact is straightforward and simple; “Management doesn’t care about how you the digital marketing executes; it is all about the results”. Any given CMO at any given day is looking at one thing only; how is the performance doing? Don’t get me started!
What marketers can do while they are becoming the front line for businesses? And as we all know that business is getting competitive and aggressive towards growth. Ahh, growth is the word that you hear day and night everywhere, from big corporates to startups to even vloggers. Growth, growth, growth…
In all honesty, the growth concept is going to fully lead and fuel all the aspects of marketing and will mostly reshape the marketing definition in the near future. With that being said, the question I am trying to resolve here is not only what is the trends that are going to hit soon, but how marketing is changing? What is going on?
In the beginning, I had to do my homework and explore what is top marketing experts are predicting. Dr. Dave Chaffey’s in his latest blog the six big 2020 trends, indicated several major areas including lifecycle marketing, conservational marketing, and marketing technology. After exploring Chaffey’s theories, I explored a few more articles by marketing opinion leaders. My conclusion that marketing predictions are mainly focused on technology, platforms, and channels. I believe we have been in years of jumping between trendy channels and tools without having a solid vision or understanding the strategic objectives of digital marketing.
With the advantages of data and effective tracking of digital marketing, companies started centralizing the marketing department as the ROI factory. It is becoming aggressive and marketers are shifting from the creative side to the executions side of the corporate with more tasks of sales, customer relationship management, and growth.
The complexity of ROI measurements is left to marketers to handle. Gradually, the marketing role is under the fire of making money with less interest in measuring other marketing roles such as brand positioning and visibility. Whether we like it or not, this fact about marketing is going to lead in the future. Hence, the future of marketing is going to be focused on ROI metrics.
I believe in data and performance, but this new role of marketing which is going to dominate more is showing a huge impact on marketers we have been seeing lately such as the intolerance from top management which resulted in a high turnover as they are measuring marketing performance based on ROI mainly.
According to LinkedIn analysis, marketing roles had the highest turnover rate of any job function—an impressive 17%. That’s more than 50% higher than marketingweek survey in 2018, 81% of respondents suggest they are likely to change jobs within 3 years, while 38% of which will do so by the end of this year.
Even CMOs are hardly able to survive more than a year or two. Performance growth, quick catches, short term plans are more important than long term strategy and investing in brand value, quality content, and creative campaigns.
Therefore, everyone is under the stress and the marketing is shifting towards improving the present ROI not building a brand that can generate future ROI. In conclusion, marketing in 2020 and coming years is going to focus on quick wins strategies and the marketing positions will continue to the highest turnover without a stable ground to flourish.
That’s why I am not considered about sexy trends such as micro-influencers, interactive emails, conversational marketing, etc. These are great and attractive methods to implement, but we all know as marketers, that setting up a solid marketing strategy requires a deeper understanding of the consumer before encountering channels and setting up technology.
Whether we already or not, marketers in 2020 have to deal with the latest consumer group, Generation Z. Those are turning 18 and entering the workforce and fueling the internet consumer are going to be a whole different story. According to some of the market estimations, Generation Z will make up 40% of all consumers in 2020. Woohoo!
What is the impact of this shift? Well, we could have hints about their behavior but that’s is not a clue yet. The reason is simple; You can’t predict the nature of a consumer group that is shaping and will take time to fully mature and shapes its behavior and purchasing habits.
Eventually, a scary fact about Gen Z that they are quirkiest, with constant change in their tastes and content consumption. This means that marketers will need to catch up quickly with not only their creativity but also with a solid data infrastructure to be able to attract this segment.
Tip: Gen Z is sensitive to phonies tactics and cheesy styles. Marketers have to shift into more authentic and original ideas to be able to convert. Wink wink, social media marketing is going to take a hard turn and the honeymoon years are over. The social media engagement is going to be revolutionized since Gen Z humor is absurdist and less-polite. So, if you don’t get their ways of communication, leave the space for younger marketers who are able to understand.
Back in 2014, Betsy Holden, the senior advisor at McKinsey outlined the major issue of a marketing consultant, I found that while they have a lot of great platforms and technology but yet the issue is all about humans. The complexity of technology is double-edged.
This leads us to understand a precise point which is, marketing technology is the trend and it is going to impact how we conduct marketing, but it is at the end of the day related to the skills and ability of human skills. Using marketing automation to segment the customer is going to enhance the targeting but who sets the roles and design the consumer journey based on strategy and specific objectives.
In conclusion, while technology is science, using it is a matter of art and this could vary based on human skills. In 2020 and upcoming years, access to advanced marketing technology will not be a critical concern, but the mind that manages it will be always the matter that will shape the relationship between the presence of marketing technology and its execution.
As we discussed the effect of technology, we have to tie it with data. Eventually, understanding the demand in the market we had to review in the previous points how marketing is moving forward in order for marketers to understand the environment they serve at.
Apparently, all the trends that are rising in the marketing will continue to be affecting the marketers. I have the habit of regularly checking the job descriptions on LinkedIn posted by companies from different regions and different industries. There are few facts that draw my attention which can summarize the change happening in marketing roles.
Encrypted titles: There are no standard titles for the majority of marketing jobs. For marketing analysts some companies might call it “Marketing Intelligence Manager” or “Data Analysis Manager”, and several more titles based on the company culture. We have been into that conflict since years ago when it comes to performance titles as some people use the term “PPC” and some call it “Paid search” and some call it “Performance manager” and so on. HR is even borrowing the title “Marketing consultant” for recruiters who are specialized in marketing hiring. I have no idea why they are doing this!! It is a big mess when it comes to titles and the more the platforms and tools we have, the more the titles are diversified. Sometimes it takes a while to understand a title with encrypted title and a strange combination of duties. Startups are reinventing the titles of marketing and setting new titles that are nonspecific and more flexible to match their diversified needs.
Broader tasks and specific technologies: The description of marketing jobs is getting broader in terms of duties but very specific in the required tech skills. Companies tend to get marketers who fulfill their current needs even if it is a blur and cross-departmental with less aim for specialization. Some of the roles are fully customized due to a lack of a structured marketing department or instability in their marketing strategy with short-term plans and micromanagement. However, the companies need at the same time to be a superhero in their platforms and technology. The vast growth in the number of marketing clouds and tools is making it harder since every company is looking for candidates who are strong in their tech stack no matter how uncommon it is. Recruiters and their software who are filtering and scanning resumes are sometimes incapable of understanding that major automation platforms are conducting the same functions, and they filter people out because they are only reviewing based on very specific keywords.
The demand for data jobs: Everyone is hiring data experts in their team since the data-driven approach is taking over. This trend will continue to rise in 2020 and the coming few years till eventually, things will change. My prediction that this trend will decrease at some point for two reasons. First, the future marketers would adopt data skills and it will become an essential skill the same as any admin or management skills the marketer has to acquire to proceed with his career. This already did happen before when the traditional offline marketers had to learn digital marketing to survive. The same scenario will happen with data analytic skills. It is going to be a must. Second, with the increasing competition business will understand that data is telling what is happening and why it is happening? but the missing part will be what we need to make it happen? I expect in the coming years, creativity jobs will return to rising and take over the top trend of skills demand. We can see a quick hint for that happening already in the below stats. According to Altimeter report of 2019, Data Analysis is considered the highest demand for marketing skills, however, there is a huge rise for skills in video editing and production. This fact outlines how creative skill such as video production is becoming one of the major needs for the marketing industry.
While the marketing trends in 2020 are going to bring some heads-up of hot new channels and interesting tactics we need to adopt, the future of marketing is considerably uncertain. There are many crucial facts happening in the background and we need to dig deeper in order to be prepared. The business environment and technology are going to reshape the industry as well as marketing skills. Therefore, we should reconsider the ongoing evolution in business and learn the lesson. The future of marketing is going to be challenging in terms of educational programs, marketing skills, and the marketing industry.
Our journey ends here and this is my prospectives. So if you have further opinions, please share in order to enhance this discussion.
In a data-first world, the marketing analytics is now becoming the process of connecting marketing function with the business intelligence. The demand for specialized marketing analytics consultant is becoming essential to bridge the gaps in marketing data and to extract business insights.
The main question in every business -from a small start-up to a well-established organization- will always be: Do we get the most accurate informed-decision/actions our of our data?
Reality scenarios:
With all these issues a business can either go wrong and lose money or define the problem, raise flags and take an effective decision. Holding many meetings and listening to different opinions from the team is not what companies need to survive in such evolving situations. Numbers, technology, market trends and consumer habits are changing and you have to move faster.
Bringing data to the core of your decision-making process doesn’t only require technology and advanced automation platforms. A tool can give you the real-time figures but creating a relation between data and extracting an action is the biggest problem for any organization.
One of the major challenges CMOs face: finding professionals who can not just analyze data but most importantly to extract the critical insights. Data analysts are qualified to analyze the data but the marketing teams are always in need of a consultant with experience in both analytics and marketing strategy. Here I would love to share some of the main functions of the marketing analytics consultants and how it can help the stakeholders to solve business problems.
Starting with the strategy, the marketing consultant can always organize the marketing analytics process by building an effective strategy based on their findings. Establishing a custom analytics plan would provide efficient outcomes and controllable workflow.
Tip: Google Analytics reports and Facebook insights are not customize designed tools that are built to answer questions. Each business shouldn’t rely on extracting the built-in reports and develop his own customized insights. The process of reporting should start with a business question such as; how we are improving our ROI? The reports are meant to provide answers and indications and not just metrics.
For more information about the marketing analytics strategy, read the article: 5 Effective Tactics for Marketing Analytics Strategy.
Are you collecting the data you need at the right timeframe and at the right volume? Getting overwhelmed with the vast amount of data availability is a mistake.
It doesn’t matter if you have access to all data sources, while it matters the most to have an effective scope. A professional marketing analytics consultant can help you to build the right strategy where data are meant to answer the business questions. Finding the metrics which define the action is a process where a digital marketing consultant can help to connect the dots. The analytics consultant can cover the following functions:
Tip: Insights are more important than data. Choose a professional consultant who can help you to stop chasing all the metrics and organize your reports.
There are several issues in organizations that prevent management from solving problems. Among the top issues are the common ones; themselves. In many business cases, the way the senior management identifying the is the problem is not accurate and that’s why they need an outside eye (different perspective).
Tip: Each organization might be full of certain rules and policies that can prevent internal teams from implementing major changes. An outside expert can help you to push the change and implement new tactics in a shorter timeframe.
One of the key roles for marketing analytics consultant is to cover your team’s knowledge. The consultant can save you time and budget required for an extensive amount of training or additional full-time talents by training your team and providing the right approach for data analytics.
In conclusion: CMOs say just 42% of marketing decisions are made using analytics. Eventually, CMOs still report that they are still struggling with analytics. While the marketing technology and cloud solutions are providing advanced capabilities in combining offline and online data, the lack of talents who are experienced in both data analytics and marketing is a challenge.
A specialized consultant who has the knowledge of data analytics tactics and marketing initiatives can drive the marketing department towards the business goals. Putting all the wide collection of data (media, paid advertising, organic, social media, digital marketing, mobile marketing, customer relationship management, and email marketing) into an insightful pattern can shift any business into a real customer-centric company.
