Marketing Ushers Into New Horizons in 2022 Resulting From 3 Disruptive Trends
In hope of getting back to normalcy (as no other option is out other than to only hope), we hail the advent of 2022 with tremendous enthusiasm and for having surpassed the events that marred 2020 but still, as we stand on the threshold of 2022, it is now evident to some of us, that “normal” is a still something related to past and is not in near sight and the state of normalcy is still elusive to the core.
This is what the stark reality is faced and feared by marketers of today. The useful marketing and office automation tools of yesterday may not be applicable now while we are unsure of tomorrow. Our researchers have uncovered promising trends that proved useful in setting the growth in this year and are still potent enough to revamp the marketing horizon in the coming year.
This was in April 2021, when Apple unveiled iOS 14.5 by which apps needed permission from users to trace online activity and to showcase preferred ads. As was expected, such a feature was turned off by many users and this caused havoc among marketers who found it hard to target the audience through user-level tracking.
This was a disruption that Apple Inc. termed as consumer privacy and vowed to pull up a “safe and trusted place for users to discover apps”. As another outcome, such a shift also resulted in leaving the insightful marketers powerless who used to make Facebook and Snap their mega fields of targeting audience. Earlier, they could have a perfect view about users’ preference and browsing details but post-Apple’s approach, they could lay hands upon aggregated info dating back to the day before only.
However, there are developed ecosystems by Apple which are self-sustained and by the virtue of which performance can easily be chased. As a matter of factly to the horror of social media platforms like Facebook, YouTube, Snap and Twitter, ad revenue sank by nearly $10 billion but then Apple’s revenue reserves through advertising tripled in its market share.
Advertising algorithms, as a result of this shift, are put under a check and so is the amount of data needed to elevate the marketing attempts. Needless to say but such restrictions are limited to our daily exploits through mobiles today but with Apple going far on the path of innovation and a new feature has been unrolled to cover our IP address too, from those sending us emails. Google decides to toe the line and is highly likely to curb device-centric IDs sent purposefully from the advertisers.
From next month onwards, marketers would have to reset their strategies alpha to omega as user-level data is far from their reach. Neither do they have easy access to any specific attribution related to the prime platform. Here, those at the pinnacle of marketing would adhere to the basics of marketing measurement and media mix modelling, which also comprises of comparing sales with marketing spend and managing regression analysis to bring out the common points and to measure the marketing channels as per their impactfulness and relevance.
Besides, for brand managers, they would need to resort to incrementality tests, by switching the channels on and off for a specific duration and utilizing geographic locations specific to cities from where little or no ad expenditure has taken place. Such testing systems (like incrementality tests) are done to measure the effectiveness of advertisements and to initiate new experiments in the marketing arena filled with hope.
Further, marketers pursuing growth would need to grease the wheels of bespoke attribution models as uniform size and shape would not adjust to every need and for this, in-house data science teams would have to be teamed up with.
Disruptive Technology Shows Resilience: Today’s Investment Determine The Gateways Of Tomorrow:
Economic recovery is partial still, in wake of the pandemic, while for many among us around the world, recovery is still a hard nut to crack. Talking about the skill, the strength has thinned and disruption in the supply chain is deep.
Certainly, put together, such factors restrict our ability to see the bright side in growth trajectory but as a silver lining, such challenges have yielded a wide array of opportunities before us, that appears inundated with a promise to excel and to lead. Also, as conventional business models are no longer relevant in the present business horizon, the new set is developed to drive through the world of cutting edge innovation.
This is in this landscape that IBM surveyed to evaluate approaches showing a promise and IBV (Institute for Business Value) carried out a comprehensive survey where sentences were traded that stemmed from familiar phrases such as tech resilience, adaptability, process efficiency, encrypted security and so many forth.
Many people (strength grows into thousands) in a ranged capacity comprising employees, decision making executives, suppliers and vendors and end-users were frisked across the world. During the survey that stretched around the globe, it found that the needs in all the aforementioned categories, registered a drastic shift and that the enterprises that register high growth performance, adhered to some untested methodology related to marketing and office automation to achieve growth targets.
Apart from this, the architects of such a finely orchestrated survey also turned the spotlight on key areas that gathered traction among executives.
Arguably, bundled up, such findings let us have a glimpse into the actual business landscape in which the coming year may unfold before us.
New strategies are devised by project managers to supplement the value chain, with the sole focus on issues like flexibility, rebooted cybersecurity and to figure out business efforts that are environment friendly too. Then, new ways are under review to synthesize men and technology in an optimized way with people remaining at the core.
No doubt, in the light of rapid innovation that give way to strong associations within the organizational framework and which results in better customer experience, today’s decision-makers administer the best of business ideas, simply to stay ahead of time.
As such, depending upon the decision type and amount invested therein will decide the pathways that would lie open before them tomorrow.
IBM research unfetters relishing insights to aid decision-making and their finding, by and large, sum up five key trends, which executives would need to navigate through, in the approaching year. The underlying purpose is to brace up for a future that is replete with disruptions and mega shifts.
- Digital Transformation as a regular way of life to be adapted to, leisurely,
- Skilled workforce is a crucial asset with an organization,
- Sustainability and resilience coupled with transparency are hot priorities,
- Aligning with innovative technology should revamp business operations,
- Trust and fool-proof security are undercurrents to the momentum of innovation,