Earlier this year, a report published by one of the leading advertising intelligence company says that the digital advertising spends by two of the biggest advertisers P&G and Unilever dropped nearly by 40% and 60% respectively. Major reasons for this was the issues raised in terms of Fraud, wastage & lack of transparency the brands observed in the digital space.
As new technologies & methods are evolving in the digital arena, the challenges for the technology providers will also increase to convince the brands to follow the new methods smoothly. Along with the technological transformation challenges, the brands will also have to face the challenges in the customer front.
Reaching out to Millennial - Millennial's are the most diverse generation with the shortest attention span and with different purchasing habits. You can easily reach out to them through online but difficult to get them on board.
They search a lot before making a buying decision or trusting a brand but are good brand followers. Brands need to adopt a different media mix if they want to target the Millennials. The role of influencer's will be vital for this age group. Keeping social media in mind, brands need to develop a network of influencer's & peer groups through which they can position their products convincingly to this group.
Relevant content in all formats - Content marketing caught the attention of marketers since the last couple of years and everyone started developing contents for the customers. Indeed there started the real problem for marketers. Now the contents are available everywhere & in such a market how you will gain popularity with your content. This is were brands should think about need based contents. Content in all formats whether its written, videos or infographics should be prepared considering the knowledge level of your customers. One more format of content which will matter to brands will be User generated content (UGC). Considering nearly 40% of the shoppers are currently online and majority of them spend a good amount of time in reviews and comments before reaching the final decision making stage. UGC is something which the brands need to focus on. Thus, content marketing is not just about preparing & distributing relevant contents but it should also be considered as a vital tool for customer engagement and brand promotion.
Reading the data right - We are in the age of 4G and will soon move to 5G. Along with speed comes the increase in the volume of data consumption. The future for digital marketing will also consist how the brands are going to interpret the data's. Right interpretation will help them for right customer profiling which will help for right product offering which eventually will lead to increase in sales and revenue generation. The coming years will also witness companies investing in getting right resources in these fields.
Even though many consider AI, Chatbot etc as the challenges, i wish to consider them as opportunities. These are the technological advancement in which the brands will invest for a better user experience & customer service.
As new technologies & methods are evolving in the digital arena, the challenges for the technology providers will also increase to convince the brands to follow the new methods smoothly. Along with the technological transformation challenges, the brands will also have to face the challenges in the customer front.
Reaching out to Millennial - Millennial's are the most diverse generation with the shortest attention span and with different purchasing habits. You can easily reach out to them through online but difficult to get them on board.
They search a lot before making a buying decision or trusting a brand but are good brand followers. Brands need to adopt a different media mix if they want to target the Millennials. The role of influencer's will be vital for this age group. Keeping social media in mind, brands need to develop a network of influencer's & peer groups through which they can position their products convincingly to this group.
Relevant content in all formats - Content marketing caught the attention of marketers since the last couple of years and everyone started developing contents for the customers. Indeed there started the real problem for marketers. Now the contents are available everywhere & in such a market how you will gain popularity with your content. This is were brands should think about need based contents. Content in all formats whether its written, videos or infographics should be prepared considering the knowledge level of your customers. One more format of content which will matter to brands will be User generated content (UGC). Considering nearly 40% of the shoppers are currently online and majority of them spend a good amount of time in reviews and comments before reaching the final decision making stage. UGC is something which the brands need to focus on. Thus, content marketing is not just about preparing & distributing relevant contents but it should also be considered as a vital tool for customer engagement and brand promotion.
Reading the data right - We are in the age of 4G and will soon move to 5G. Along with speed comes the increase in the volume of data consumption. The future for digital marketing will also consist how the brands are going to interpret the data's. Right interpretation will help them for right customer profiling which will help for right product offering which eventually will lead to increase in sales and revenue generation. The coming years will also witness companies investing in getting right resources in these fields.
Even though many consider AI, Chatbot etc as the challenges, i wish to consider them as opportunities. These are the technological advancement in which the brands will invest for a better user experience & customer service.
