10 predictions on the Future of Marketing
Recently TomorrowToday’s International Partner Dean van Leeuwen was invited to participate as a panel member debating the future of marketing at IQPC’s CMO Exchange held in London. Advances in mobile and smart technologies have fundamentally altered the way consumers approach buying decisions. As a result marketing is undergoing revolutionary change. Here are our top ten predictions on the future of marketing:
- Marketing communications will increasingly be required to demonstrate ROI.
- In the kingdom of the blind the one eyed will be marketers with an eye for Big Data – Customer data and insights will become more important than ever – The best marketers will be (or employ) data detectives who embrace structured and unstructured data.
- Mass marketing will disappear and be replaced by true individual customised offers.
- Messages will need to be perceived as useful and, or entertaining not just be marketing.
- The role of marketing will move away from communicating towards delivering experiences. Astute CMO’s will integrate marketing into all business functions. CMO’s will be champions and the voice of the customer influencing and leading across the organisation. As this trend develops the need for a traditional marketing department will disappear. (See our article on “Fire the Marketing Department”)
- Marketing will be replaced with “Partnering” as companies form mutually beneficial and emotionally connected relationships with their customers.
- Influence of social media will continue to grow, but evidence that likes, views and check-ins impact the bottom line will be required.
- Consumers will control the brand.
- Human values will be a source of competitive advantage and companies that visually demonstrate kindness, empathy, generosity will gain ground on competitors.
- 4p’s will be replaced by the 4E’s – Experience, Everyplace, Exchange, Evangelism. (See Ogilvy’s article The 4P’s are out The 4E’s are in)