Opportunities to grow business across the customer lifecycle
There is always a huge interest in digital marketing trends and innovation in marketing around the turn of each year. 2022 will be no different, in fact, it’s particularly true since the pandemic has forced downward pressure on marketing budgets meaning that marketers are looking for new cost-effective techniques. According to the 2021 Gartner State of marketing budget report, marketing budgets have fallen to their lowest recorded level, dropping to 6.4% of company revenue in 2021 from 11% in 2020.
You can see that these cuts are consistent across sector and we can anticipate these reductions across businesses of all sizes. Consumer brands, financial services companies and healthcare seem to have been less impacted by the pandemic as we would expect.
Digital media spend increases while agency spend decreases
The Gartner research shows CMOs have shifted spending…
Evaluating technology options for innovation in marketing - do you know your Hype Cycles?
If you're involved in marketing strategy development, you will be constantly making judgments and doubtless reviewing with colleagues which digital technology innovations are most relevant to your organization. In this article, we compare different examples of the well-established Gartner Hype Cycle tools which serve to highlight the adoption of new technology services within marketing technology.
Gartner publishes many different hype cycles reviewing the adoption curves for different types of technologies, but as a digital strategist, I am most interested in those focusing on marketing technologies. A summary of the report with the infographic is published annually and I have been monitoring them and sharing them for over 10 years in this post. You can compare the newest to the latest at the end. The methodology is described later in the post.
Through the updates you can see how technology…
Mapping the most effective AI technologies for marketing across the customer lifecycle in the coming year
AI technology is a hot topic in marketing at the moment, but AI is a broad term covering a wide range of different technologies. Artificial intelligence means any technology that seeks to mimic human intelligence, which covers a huge range of capabilities such as voice and image recognition, machine learning techniques and semantic search.
AI will continue to grow in 2022 and beyond. In fact, the global AI revenue forecast for static image recognition, classification, and tagging by 2025 is currently US $8,097. This figure is followed closely by the forecast for algorithmic trading strategy performance management, coming in at US $7,540.
Marketers like to wax lyrical about the latest exciting technologies and bang on about AI for image recognition, speech recognition, preventing data leaks, or even …
Examples of digital marketing tools and techniques to give you an edge in the year ahead
Well, we’ve nearly made it! For years I’ve been looking to the future, predicting how innovations in digital media, platforms and technology will shape marketing in 2020. The cutting edge examples certainly show the exciting opportunities available - there is almost too much choice…
In this article, I’ll explore six key marketing trends based on examples and research on the adoption of the latest marketing techniques and technology marketers can use.
For recommendations on tapping into the innovations in different digital marketing channels, including email, social media and search engine marketing, see all the other posts from the Smart Insights team covering channel-specific digital marketing trends for 2020.
In 2020, we can see the huge impact that digital marketing has had over the last decade, and more. Looking at advertising alone, these eMarketer predictions show…
The importance of creating a team and culture that thinks differently
Consider the marketing campaigns, advertisements, PR stunts and billboards that have caught the public’s imagination over the years. Whether it’s the Conservative party’s ‘Labour isn’t working’ poster, Benson & Hedges’ ‘Iguana’ ad or the Cadbury gorilla, they all have something in common: they offer something completely different from what had come before.
In today’s noisy and crowded media landscape, it’s arguably never been more important to think differently. Yet despite the vast number of ads we’re confronted with every day, people dislike advertising.
This study from Kantar asked a representative sample of consumers how they felt about advertising.…
In its recent comparative advertising campaign, Google promotes its Pixel 3a model as a cheaper and higher quality choice over Apple’s XS, putting it side-by-side with the Apple product in a face-off of the tech giants.
Why beat about the bush in advertising when you can directly compare your own product to a competitor’s higher-priced and (in Google’s opinion) inferior one?
We’ve seen examples of this kind of advertising for many years, from supermarket chains’ regular competitor comparisons to the “Get a Mac“ campaigns of the noughties. It appears that Google felt it was high time that this time round a company went after Apple.
Indeed, Google has set its sights on Apple, with billboards and video ads from the Alphabet-owned company claiming that the Pixel 3a provides better quality low-light photography at a fraction of the…
Voice technology will be huge in 2019, with smart speakers driving this revolution. Let’s look at some of the key ways voice can boost marketing activity and engage audiences
A bit of background
Voice technology uses Natural Language Processing (NLP) and AI to provide a more intuitive way of interacting with devices including smart speakers. Although the underlying technology has been in development for decades, it is only with recent advances in computing that it has been practical and reliable.
Now let’s take a brief look at the main smart speaker platforms.
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Currently the most popular smart speakers with global sales of 100 million devices. Alexa technology is available in a wide range of devices from the entry level Echo Dot through…
Our review showing examples of the latest innovations in digital media, technology, and data to support digital transformation
We love reviewing innovation in marketing. It’s interesting to see ‘what’s hot’ and ‘what’s cool’, but to keep it practical and actionable as we like, we’re equally interested in which communications and transformation techniques will make the biggest commercial improvement for businesses.
A good example of the commercial impact digital technology and media can have is Dominos. I recently heard about the impact of digitization of Dominos from Dave Wild, their UK CEO at Technology for Marketing / E-commerce Expo. Dominos UK only took its first mobile phone order in 2010 when online sales accounted for less than 30% of revenue. Eight years on, Dominos have a market share of more than 50% with digital transactions accounts for more than 80% of sales and the UK smartphone app accounting for more than two-thirds of those…
To prevent further revenue drop, linear television will have to change advertising practices completely
For many years, advertising budgets were gravitating towards the Internet because only this medium could offer media buyers precise targeting and efficiency metrics for campaign analysis. The experts predict that by the end of 2018, the Internet advertising budgets will outweigh linear TV by a whopping $40 billion.
A couple of years ago, the ad market was close to the point of no return and the industry players predicted nothing but a slow demise of TV advertising. In order to prevent further revenue drop, linear television will have to change advertising practices completely.
Let’s find out how the market adapts to the new programmatic-driven addressable TV reality.
What is addressable TV and how it’s different?
Chart of the Day: Brands and Agencies Struggle to Trust AI with Budget Allocation
Business success demands a balanced approach when it comes to decision making – objective analysis and subjective experience. Artificial intelligence (AI) is one of the hottest tools to improve the scale and quality of our data analysis, but research from Albert Technologies has shed light on what tasks marketers are having difficulty letting go of.
Polling brand and agency marketers on their adoption of AI, both groups agreed that budget allocation was one of their hardest tasks to relinquish. Brand marketers had the most difficulty handing over campaign analysis, while agency marketers wanted to hold on to their audience segmentation.
These attitudes may be the result of AI systems having varied levels of automation. Marketers are likely more open to systems they can use to improve their analysis…