It’s already been more than a week into the New Year, and those actively looking at marketing as a career, would wonder what 2016 has in store for them.
Well, the year is definitely going to have strong doses of technology pouring in, but I also believe that the way it is used in marketing will change.
Digital becomes discreet
India is rapidly growing in the digital sense — broadband penetration is increasing; mobile phone usage is exploding; and social media is swelling. However, 2016 will witness more discreet utilisation of these tools as media marketers’ vehicles.
They will understand that more clicks and searches do not necessarily translate into purchases. Hence, the need for more work to be be done on the latter will be realised. Marketers will focus on converting these clicks into meaningful interactions with potential customers, that will translate into buying.
There will be focus on content creation, ensuring that the shift happens from mere searches to actual financial transactions. All this means marketers will realise that just being digital is no longer a competitive advantage — figuring out how to channelise it in order to acquire more customers is far more important.
Sharper customer in-sighting
Marketers today are flooded with a lot of data about customers — their profile, purchase history, spending patterns, et al . Technology is truly helping marketers analyse and dissect the customer into many shapes and segments. But this in itself isn’t enough.
Being able to construct a sharp insight process that will enable companies target the right customers, and woo them with trial incentives or loyalty programs is key. More engagement by companies will be possible, and in better ways, after superior understanding of customers comes into the picture. This will ensure that marketing spends are done more efficiently and result in financial savings for companies.
Smartphones as a shopping tool
By 2016, it is estimated that there will be around two billion smartphone users worldwide. Apart from simple voice communication, these devices will also be increasingly used as a retail shopping tool.
Marketers will need to have technology partners, who will enable sale of their products through smartphones via apps.
This also means that the traditional brick and mortar model of selling will continue to decline dramatically and shopping will move from stores, to online, to smartphones. There will be an app for almost everything. Smartphone devices will gradually start serving even as a relationship tool between companies and customers.
Fraud protection
With the rise in online transactions, fraud protection is bound to be a part of any company’s offering. Either the payment gateways or the selling company needs to take care of this, as it willbuild more trust among those buyers who view security as a barrier to online transactions. Overall, e-commerce will significantly increase because of this.
Closer working of marketing, technology and operations
This is bound to happen more in 2016. Marketers will not be able to conceive of a product or a service in isolation — they will need to interact with their technology and operations teams closely, to satisfy the customer.
Even in a consumer products company, post-sales service or feedback from customers will necessitate technology. Setting up an experiential platform will be key in gaining long-term advantage and this is where operations team can add value.
Overall, 2016 is a year where roles across these three functions will converge and deliver value to the customer.
Thus, 2016 promises to be a year of customer-centric technology — one where there is abundance of digital but is used to benefit customer, by easing out user experience.