With technology creating so many opportunities for marketers, it’s more important now than ever to keep up with the news and trends. Here’s all the latest you need to know to keep you moving forward.
Workflow Streamlining
A recent survey reveals that marketers face increasing content demands and budget concerns, with a significant portion struggling to differentiate their brands. AI adoption, used by 62% of CMOs, shows benefits in task automation, asset organization, and visual content creation, leading to time savings, expense reduction, and improved performance. Digital asset management (DAM) platforms are also popular, enhancing productivity and work quality for over half of respondents.
Audience Development
Despite Google’s delay in phasing out third-party cookies, a recent report shows a rising focus on diverse data sources among B2C marketers. Confidence in data types correlates strongly with strategy effectiveness, with those most confident being 5.5 times more likely to have effective data-driven strategies. First-party data is widely used, with strategies adapted to mitigate cookie depreciation effects, emphasizing improved customer experience and ROI through unified CRM and analytics.
Personal Is Best
A recent report highlights current challenges in customer reach, with 55% of marketers finding it harder to engage customers compared to five years ago. Personalized 1:1 marketing is deemed essential by 86% for B2B success, with preferences leaning towards email and social media interactions. The report underscores the shift towards tailored marketing to meet unique customer needs, facilitated by CRM systems and marketing automation for precise targeting and effective engagement strategies.
Amazon Ad Spend
Amazon’s rapid growth in digital ad spend positions it as a formidable player behind Google and Meta, potentially forming a “Triopoly.” EMARKETER predicts Amazon’s ad revenue will grow by 24.7% in 2024, increasing its market share to 15.4% in 2025, with projections to surpass Meta by the end of the decade. This growth reflects Amazon’s expanding influence and competitive stance in the digital advertising landscape.
Cookie Plans
A new survey reveals that only 32% of publishers are actively preparing for a cookieless future, with many delaying action due to overwhelming choices and low confidence in navigating the new landscape. Despite concerns over reduced yields from cookieless traffic, 37% appreciate the privacy benefits and are seeking new alternatives. The survey emphasizes the urgency for industry-wide adaptation and innovative solutions to manage the impending phase-out, despite Google’s delay until early 2025.
AI Obstacles
A recent survey highlights significant barriers to AI adoption, with demonstrating business value and total cost of ownership being primary concerns for nearly half of respondents. Lack of talent, skills, and confidence in AI are other major obstacles, alongside data quality issues and alignment with business goals. Generative AI emerges as the most widely deployed AI solution, viewed as pivotal for enterprise AI expansion and scalability. Organizations are advised to invest in foundational AI capabilities to ensure efficient and secure scaling of AI deployments.
Digital Foundation
A new report underscores digital initiatives as key for B2B marketers, with social media, digital advertising, and email being top channels. Challenges include data quality, workflow efficiency, and performance measurement, though social and digital advertising are expected to grow in importance. With budget increases anticipated for customer acquisition initiatives, marketers are balancing digital personalization with in-person engagement strategies like live events and partner programs to optimize customer reach and engagement.
Abandonment Issues
A recent survey on online shopper behavior identifies extra costs, including shipping and taxes, as the primary reason for cart abandonment, influencing 48% of respondents. Other significant factors include reluctance to create accounts and concerns over site trustworthiness with credit card information. The report emphasizes the impact of checkout process design on reducing abandonment rates, suggesting potential conversion rate increases of up to 35.26% through improved usability. This underscores the significant economic opportunity for e-commerce sites to recover billions in lost sales by addressing checkout flow and design issues effectively.
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