Mafalda Martins In this era of martech and the marketing of the future, the biggest challenges result not from technological advances, but from the profound changes that are occurring at the level of buying behaviors and the way people are choosing to relate to brands.
These asymmetries will only be accentuated in the near future, with the entry into the market of a new generation of consumers, digital natives, who expect everything around them to be connected to the web, who want to be co-creators of products and messages, and who demand dynamic, interactive content, adapted in real time to the individual preferences of each one.
New consumers already have unprecedented power. By being influencers, trendsetters and online community leaders themselves, they can change the course of any business and are shaping the 3 big marketing trends of the future.
The 3 Marketing Megatrends of the Future
1. Contextual Marketing
The power of contextual marketing can be illustrated with the following example. While Mercedes-Benz recently spent an average of 926$ on advertising for each Model C it sells, Tesla spent only 6$, and in the period under review sold 3 times more Model 3s than Mercedes C-class.
The difference between the two brands is that while Mercedes used advertising to sell its brand for attributes such as performance or prestige, Tesla was leading the discussion about the future of mobility, renewable energy and the sustainability of the planet.
Tesla is a participant in a conversation that is happening among various communities and forums, all over the world, being present in a context that matters most to its audiences, without interrupting them or imposing an intrusive message by force of repetition and unsolicited display. According to the 2016 Nielsen Global Digital Landscape, only 43% of consumers trust online ads.
Contextual marketing is the future, because consumers demand it, new media make it possible, and because it is proving much better results than advertising or other outbound approaches.
2. Purpose-driven Marketing
Marketing with a purpose means that brands should be able to address the big issues in society, rather than just talking about themselves.
This is what Tesla has done, as well as Nespresso with “The Positive Cup” strategy, which seeks to restore and revitalize all the resources used in the coffee value chain, demonstrating for example the positive impact on the lives of local farming communities in Latin America.
3. Hyper-Connected Consumers
On average, each person is in front of a screen 12 hours a day (UK National Institute of Health). Consumers are increasingly dynamic users of various digital platforms (forums, blogs, social networks, etc.) and use them to share opinions, thoughts, experiences and evaluate products and services, they research online about a product or service at the same time they are in the physical store.
This trend has been shaping some strategic decisions of well-established brands. For example, Adidas announced in 2017 that they would move away from television advertising to digital channels and be better able to engage consumers with the right message at the right time.
According to Mazda, consumers interested in buying a car visit only 1.2 dealers on average. Five years ago they visited more than 4 dealers before buying.
In the B2B market, on the other hand, most decision makers only ask to speak to a salesperson when they have gone through 90% of the decision-making process. (Forrester, 2015)
Consumers are educating each other and leading the communication channels. Marketing has already lost control over the message and must adapt quickly to a hyper-connected world.
Marketing must adapt to the changing nature of customer journeys in this digital economy, guiding them through the decision process from need to advocacy. To do this, you need tools, teams, and insights from analyzing each segment’s behaviors across multiple channels, then automating processes, personalizing interactions, and coordinating operations. In the marketing of the future, managers must be willing to give up controlling everything and enter this new reality.
Written by:
Tiago J. C. Sousa
Managing Partner – Liminal