As we move into a new decade, businesses must be savvy about the latest digital marketing trends in order to stay ahead of the competition. The power of the internet has transformed the marketing landscape and it is more important than ever for businesses to have a strong online presence.
Here are our top 4 business marketing trends coming your way:
Also known as AI, artificial intelligence is quickly becoming one of the most popular marketing tools. AI can help you automate tasks, personalise messages, and improve your customer service.
Artificial intelligence (AI) is playing an increasingly important role in business. By automating repetitive tasks and providing insights based on data analysis, AI is helping businesses to improve efficiency and productivity. In addition, AI-powered chatbots can provide 24/7 customer support, and marketing campaigns can be personalised using AI-generated customer profiles.
Market research conducted by TechNavio predicts the AI market in the US to grow at a compound actual growth rate of 22.26% between 2022 and 2027. This equates to a market size of USD 125.3 billion.
This growth trend is accelerating. You can read more about market growth drivers and industry analysis here https://www.technavio.com/report/artificial-intelligence-ai-market-industry-analysis.
Augmented reality allows users to interact with virtual objects in the real world. This technology is still in its infancy but it has huge potential for businesses looking to give their customers a unique experience.
One way AR can be used in business is to provide customers with information about products they are considering purchasing. For example, if someone is looking at a piece of furniture in a store, an AR display could provide information about the dimensions, materials, and assembly instructions. This would give customers a more complete picture of the product and help them make more informed purchasing decisions.
Key players in the AR space include:
- Alphabet Inc.
- Facebook Inc.
- HP Inc.
- Microsoft Corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Toshiba Corp.
In terms of market growth, the combined AR and VR market is predicted to grow at a compound actual growth rate of almost 46% between 2022-2025, which is a growth of 162.71 billion.
In terms of technical requirements, AR is extremely bandwidth heavy and will require upwards of 100Mbps internet speeds. Internet service providers, such as Swoop, are starting to cater to these demands by providing high capacity symmetrical bandwidth, uniform internet speed with low latency. Find out more about this high powered, enterprise grade internet speed here.
Influencer marketing is a form of social media marketing that involves partnering with influential people in your industry to promote your product or service. This type of marketing can be extremely effective but it’s important to partner with influencers who are a good fit for your brand.
Influencers have a large, engaged following and can help you reach potential customers who may not be aware of your product or services. By creating relationships with influencers, businesses can tap into their networks and gain access to new audiences.
Additionally, influencer marketing campaigns can:
- drive traffic to your website
- increase conversions, and
- boost brand awareness.
With the right strategy in place, influencer marketing can be an effective way for you to grow your business.
According to an influencer market research article published on Influencer Marketing Hub by Jacinda Santora:
“The market grew from $1.7 billion in 2016 to $9.7 billion in 2020. In 2021, it soared to $13.8 billion, indicating a steady growth. In 2022, the market expanded to a whopping $16.4 billion industry.
This growth is attributed to the increasing popularity of short video formats on platforms like TikTok, Facebook, and YouTube, the effect of the global pandemic on consumers, which catalysed social media consumption, and the optimization of data collection, which marketers used for social media ads.”
A chatbot is a computer program that simulates human conversation. Chatbots can be used to provide customer service or promote your product or service on your behalf.
In recent years, chatbots have become increasingly popular as a way for businesses to interact with their customers. By providing quick and easy access to customer service, chatbots can help businesses save time and money. In addition, chatbots can help businesses to collect customer feedback and data.
By understanding the needs and wants of customers, businesses can use chatbots to improve their products and services.
In the future, chatbots are likely to play an even more important role in business, as they become more sophisticated and user-friendly. As businesses continue to find new ways to use chatbots, they will become an essential part of the way that businesses operate.
Summary – Digital Marketing Trends
Businesses must stay up-to-date on the latest marketing trends if they want to remain competitive. The rise of the internet has changed the landscape of marketing and made it more important than ever for businesses to have a strong online presence.
By utilising artificial intelligence, augmented reality, influencer marketing, chatbots, and more, you can give your business the edge it needs to succeed into the future!
Marshall Thurlow is Director and Founder of Orion Marketing Pty Ltd. He is a digital marketer with expertise in SEO, website design, content marketing and project management. With over 15 years of experience spanning government, not-for-profit and the private sector, he is well equipped to lead teams to success. He is a big proponent of environmental sustainability, critical thinking and progressive issues.