A new decade is almost upon us and with it comes change that we are not wholly prepared for. The world is constantly moving and changing so to even try and predict whats going to happen is impossible. I’m going to do it anyway so here are my 20 Marketing Predictions for the 2020s.
Influencer Marketing will Die
So, this is the one prediction on this list that goes against all the data, but I don’t care, you can call me out for being wrong in 2030. There are so many influencers now that I can’t keep track, and it is so oversaturated and robotic that it’s almost too hard to watch.
Back in the day, it used to be a couple of YouTubers who would shout out some cool products. Now it’s just a bunch of wannabe actors and models spitting out ads and destroying public property for views. The public is not so dumb that they are gonna fall for these tricks forever, and eventually, influencers are not going to be the hot commodity they are now. To see more of my opinion on this, check out this blog post I wrote for Spark SLC.
Ads are about to be way more Political
So, we all know what the political climate is like, right? Donald Trump is the worst, the hicks in Alberta are the worst, Boris Johnson is the worst, and everything is just terrible. Well, except for marketers. Including politics is always risky when it comes to ads, but it also can reap the most significant benefits.
When the “The Best Men Can Be” Gillette commercial dropped, they pissed off a lot of dudes, but the stance they took gained a lot of press. They were all we talked about in class for a month, and they were all I saw on social media. A guy even threw his razor in the toilet, which is sad and funny. At first, it seemed like a dumb move to criticize their male audience, but that’s not who the target really was. Women loved the commercial, and it gave Gillette a whole new audience and reputation with an unexplored demographic.
Customers are starting to care about the brands they’re supporting, so even though using politics is risky, it’s what brands need to be doing right now.
Sustainability is Trendy Now
Although some may deny it, Climate Change is causing huge ripples across the planet in many ways. With this massive outcry for sustainability, companies are starting to see the financial benefits of going green. You can learn about how business are using sustainability as marketing here.
People care about the brands they buy from and people from all walks of life are looking for the most sustainable options. Its why stores and restaurants are bringing in paper straws and bags and why companies are bragging about using recycled materials. It’s all a marketing tactic to appeal to public outcry, and it’s going to become way more common as time goes on, especially if things don’t start to change.
The Streaming Industry is Blowing Up
Now this one may seem obvious, but it’s so huge I just gotta talk about it. This is one of those situations where things can either go incredibly good or incredibly bad. Streaming has blown up since the success of Netflix, and it’s now on every studio and tv channel’s minds, especially with good old Disney+ coming really soon. The convenience of Netflix was revolutionary, but now everyone wants to do it; in fact, seven new streaming services plan to be released in 2019/2020.
It may seem great, but it’s turning online streaming into TV channels and oversaturating the market. Yes, we will see the rise of stand-out streaming services over the next few years, but we will also be witnessing the death of many of these services. Netflix is struggling to keep titles, and with many new sites coming, it feels like a losing battle.
Along with Netflix, we will likely lose the core benefits of online streaming. No one will be able to pay for all these services, and it destroys the convenient nature Netflix offered. Some sites are planning on releasing weekly episodes that take away the binge appeal. Some are even planning on including ads. Eventually, we will recreate cable/satellite television, but it’ll just be online
TV is going on Life Support
The King is dead long live the King, aka online streaming, is essentially making cable television obsolete. We have seen television struggle to keep up with the rise of online streaming. Still, it can’t compare to the convenience of sites like Netflix and Hulu. In 2017 95% of the U.S. cable industry lost 410,000 subscribers during the first quarter of the year while Netflix gained around 8.3 million. Television is full of ads, only shows new content weekly and is on a set schedule, online streaming is just so much more convenient.
Now that everyone and their mother are making streaming services television doesn’t have a hope in the world of staying relevant. Some streaming services are even considering selling ad space, which is where marketers are going to be snooping around, taking ads from cable services. With no views and no money, a significant change is coming for cable television.
The world is changing, and so are consumers, marketers are going to need to change how they look at their audience. The demographic, psychographic stuff isn’t gonna cut it anymore. In the world of globalization, constant change and the desire to be unique, grouping people based on uncontrollable and unchangeable factors is not enough. Consumers are taking control of who they are, and marketers need to keep up with that. To learn more check out this cool article on the subject.
Awareness is Gold
With the growth of online marketing, it’s even easier for individual entrepreneurs to start the businesses of their dreams. Startups are popping up everywhere, and there are a lot more brands trying to get their name out there. With this, we see a consistent problem in the business world. Oversaturation.
When you have millions of startups and brands out there, how do you stand out? More importantly, how do you gain awareness? The only way for small businesses to get anywhere is to be known by their target, so lots of awareness campaigns are going to pop up.
Personification is Coming
Well, technically, it’s already here. Brands are starting to live, breath and think on their own. Well not really but they want you to think that they are.
There has been a rise in brand personification the last few years, specifically on social media *cough Wendys’ Roasts cough* but it will soon be next level. Consumers are looking for authenticity and genuine connection even when shopping, so brands have to provide it. Brands use personification to make consumers feel as if it has a real personality.
Brands will use social media to convey thoughts, opinions and usually memes to pander to their audience. It’s, of course, all fake and is really just a team of marketing people. Sometimes it works, and sometimes it doesn’t, but brands show no sign of slowing down. Luckily for consumers people aren’t totally falling for the pandering and have fought back.
AI will take over
Conspiracy theories aside this is real, I swear! AI is one of the most exciting technological advancements in the world and marketers are going to take advantage. Even now, we already use it, but our future possibilities are almost endless. AI can be used for sales forecasting, data collection, digital campaigns, real-time customer support and consumer behaviour profiles. AI will revolutionize marketing and make it even easier to target consumers.
Data is the New Oil
I think more than anything these last few years, we’ve seen how important data is for marketing and how much it can change how we advertise to people. Just look at what happened with Trump and Cambridge Analytica. Data is what tells marketing teams how to reach consumers, going without it is like driving blind. The data a company has on its customers drive every campaign and promotion they do. Now that we see a decline in general demographics, its more important than ever for marketers to utilize their data. At the core of most businesses is money, and soon people’s data will be worth more than we could ever imagine.
Yeah I know that’s only 10 predictions relax there’s still 10 more. Just to save you guys from having to read 3000 words at once I have split them into 2 parts. Part 2 of 20 Marketing Predictions for the 2020s will be released on Monday to fulfill all your marketing prediction needs. Do you have any predictions for 2020? Let me know in the comments below!