FUTURE MARKETING TRENDS
July 5, 2018
July 5, 2018
5 Marketing Directions – 2018
The Future of Marketing is Contextual
It’s unfathomable to think a company spent 1/190th of the advertising budget of their closest competitor and outsold them by 3X, but that’s just what Tesla did.
Mercedes Benz is an advertising powerhouse, yet was outdone by something more powerful, context. While Mercedes Benz was telling the world to buy their cars, Telsa was having a conversation about living fossil fuel free. That allowed them to break through, and drive sales without the need for advertising. Advertising is designed to distract away from the consumer’s task at hand, while context seeks to match it.
To see the power of context look no further than Facebook. Each time you log on to Facebook there are over 1,000 posts awaiting you, yet their algorithms only show you the ones contextual to you to the moment. This is why we’ve seen organic reach on social media decline below 1%. Without context to the moment, there is no way our messages will make it through. Context is the future of marketing because consumers demand it, the new media environment supports it, and it is proving to be a much greater driver of consumer action than advertising.
Purpose becomes the heart of marketing
The next mega-trend shaping the future of marketing in 2018 is the notion of Purpose. High performing marketing leaders say they’ve become more focused on purpose-driven marketing. Top marketers are 2.2x more likely than underperformers to leverage purpose-driven methods.
The reason is simple, consumers demand it. Recently I worked with a team of researchers at the Economist and found 79% of consumers prefer to purchase products from a company that operates with a social purpose (data to be published by the Economist Insights Team early 2018). Purpose-driven marketing is a holistic approach to growth and the new heart of marketing.
While traditional marketing tells about products and services, purpose-driven marketing is contextual by aligning with conversations our audience cares about past just our products. Just as Tesla did with the conversations about moving away from fossil fuels, brands like Cotopaxi are aligning with their consumers by supporting social issues such as healthcare, and sustainable living.
Cotopaxi uses their platform to talk about improving the welfare and education of their workers and those in their supply chain. This aligns with their eco-conscious adventure bound customers by focusing on improving the world, not just selling more products. They are happy to read about why Cotopaxi uses Lama wool, and their efforts to save the farmers of Peru.
With purpose driving the conversations Cotopaxi is able to create authentic experiences their consumers are looking for allowing them to break through in the highly competitive outdoor sports arena. As a result, they sold over $900k of a single sweater in under 30 days, then repeated this success with a backpack a few months later! Profits of business must be expanded to included stakeholders such as employees, and our communities. This change how we view the profits of the business allows brands to relate to their worlds in new and powerful ways, allowing them to break through where other methods can’t. Marketing of the future must have a heart.
The Future of Public Relations is Participatory
Social media upended the notion of publishing, and only slightly the notion of public relations. Our new contextual notion of marketing also opens up the doors to the future of public relations and shows us the power of participatory propaganda. The traditional idea of public relations is about controlling the narrative by controlling the press, however, our modern world shows that collective engagement to be a more powerful ploy at narrative setting than publication. The future of PR is participatory.
Alica Wanless is the queen of Participatory Propaganda and has shown this to be the key reason Brexit, Trump, and ISIS have been so successful as of late. To see the power of participation we don’t have to look any further than the 2016 US presidential election. Following the election, if you were to search for “Election Results” the first result on Google was a fake news story stated falsely that Donald Trump had won the popular vote.
This article had over 325 backlinks, hundreds of comments, and over 450,000 shares on Facebook. The CNN “Election Results” page on the other had only had 300 backlinks, no comments, and 1/10th of the shares on Facebook. CNN was hands down the more powerful publication, with a reach of millions. The fake news site was a bottom rung publication, yet via engagement it was able to change the narrative.
The future of narrative control lies in driving engagement with an audience. It is from this engagement modern channels take their cues, placing participation as the key to the future of public relations.
Source & Read More – Sales Force