A few insights about the future of marketing.
Context replaces advertising
Tesla sold three times more cars than its closest competitor but spent only 1/90 of its advertising budget. Airbnb used the correspondence in Craigslist to create a user base and expand its service. Advertising is one-way communication, and consumers do not like it. In fact, the world has declared the largest boycott - 600 million users use the technology of blocking advertising.
The future of advertising in context. Advertising is designed to tear off the current task, and the context corresponds to it. Advertising just cannot withstand consumer demands, and some fast-growing mega brands have proved that context can be a solution.
Look again at Airbnb. The company sent its messages to Craiglist's users who were looking for a room for rent. Airbnb used Craiglist's capabilities to solve the personal problems of users at the time they appeared and in a way that was acceptable to them.
Now the company relies on advertising but gets different results thanks to its approach. The company's goal is more than 100 million rent in 2017, with spending $ 23.5 million on advertising, while for Hilton Hotels - more than 140 million room reservations with advertising costs of $ 188 million.
The Goal Becomes the Heart of Marketing
Sweater Libre — one of the hits of the brand of women's clothing Cotopaxi. With this brand, not many are familiar, unless you are a fan of outdoor activities. Cotopaxi is also a marketing genius, selling a sweater for $ 900,000 for less than 30 days. Then the company did it again a few months later, this time with a backpack!
What is a secret of marketing? The goal is not a promo.
The Economist Group conducted research and found that 79% of buyers prefer to purchase from a company that operates with a social purpose. The role of the goal goes beyond the preferences of customers. The same study found that 83% of young employees would prefer to work for a company that functions for a social purpose.
The modern market requires that we rethink what drives our business and our revenues. Cotopaxi considered "income" the social security and education of its employees and those who are in the supply chain. It also includes the creation of sustainable living conditions for farmers, from whom the company purchases materials. Thus, Cotopaxi can create an authentic experience of interaction, which customers expect, and make their way against the background of competitors.
"Profit of the company" should include the interests of stakeholders, such as employees and communities. These changes will help brands to reconnect with the world in a new way, allowing them to stand out where other methods will not help.
PR becomes collective
Traditional propaganda and PR function where publishers control information. In the modern era, people, not publishers, have greater control. And in future marketing, the key in the presentation is the participation, not the publication.
Following the presidential elections in the US in 2016, the top search query of the fake news site was "Election Results" and an article where it was stated that Donald Trump won the vote. The article collected more than 325 backlinks, hundreds of comments and over 450,000 screeners on Facebook; CNN's "Election Results" page, on the other hand, collected only 300 backlinks, zero comments and 1/10 sheriffs on Facebook. Proving that participation has more power than publication.
The meaning of PR in the control of the story, and in the modern world, the collective involvement turned out to be more powerful in presentation than placement or translation. The future of collective PR.
We are in the era of Automation 2.0, where the platform for automating marketing processes is just a point in the network of automation, not the only place where automation takes place. Experience, not messages, is the future of marketing, and growth hacking (breaking demand growth) is a discipline that uses data and tests them to create an optimal experience of interaction. Automation of marketing 1.0 - this is the optimal tool for the expert on lidogeneration. The network of data and tools creates an Automation 2.0 environment, which is the choice for the growth hacker.
Chatbots get the upper hand
In 2015, consumers more used messaging applications than social media. And according to the Myclever research in 2017, more than 70% would prefer to interact with the chatbot than the application. 2018 will be the year when companies make up for lost time since this same study showed that users consider chatbots the easiest way to get access to content, get help, and get answers to questions.
For example, using a chatbots company that specializes in retargeting, AdRoll enabled the sales development team (SDR) to increase the number of calls by 13%, now the team assigns almost half of the meetings via bot.
Chatbots also use the Automation 2.0 structure and can combine data from different sources to determine when to involve and how to personalize engagement by providing personal, authentic, meaningful and contextual experiences.
Approaching 2018, learn to focus on the context and think beyond the financial benefits. Modern marketing will require a network of tools, creating contextual experiences of interaction on different platforms. Brands that are capable of creating native, authentic, personal and meaningful experiences of interaction, will become bastions of success.