IDC expects the global market for enterprise marketing software to soar to $32.3 billion by 2018 — a jump of more than 50 percent. The current state holds market share at $20.2 billion so far in 2014. This jump won’t come easy. It will require a delicate balance of technology, creative talent and IT services for the market to reach its potential. IDC breaks that market down into four broad categories: Interaction Systems, Content Production and Management, Data and Analytics and Management and Administration. Also, on the rise are “marketing-as-a-service” (MaaS) offerings where agencies and other marketing service providers run the software on behalf of their clients, as part of a larger bundle of services.
Meanwhile, the advertising world is swimming amongst a tremendous number of cataclysmic disruptions, such as: print and TV advertising isn’t what it used to be (TiVo, HBO, Netflix, Amazon); display advertising is a poor substitute (ad blockers, banner blindness, fraud, hate); programmatic media buying is squeezing the margins of traditional agency cash cows; data has forced greater transparency and performance-measured accountability; and search engines and social media thwart PR spin and inauthentic brand advertising.
As you lay the foundation of your 2015 marketing strategy, here are five marketing trends to give you a jumpstart on your big projects for the rest of this year and next:
- Micro-targeting: It’s time to really get to know your customers-dig deeper into customization and personalization strategies to find the small, yet potentially profitable subsets of your market and niche offerings.
- Paid placements are here to stay: Spend your money on the right content and platform and understand which digital properties are performing best for you. Build budgets and relationships around content placement, sponsorship opportunities, syndication services, and content recommendation platforms
- Mobile will dominate: Master it- Fine-tune your mobile strategy to encompass the totality of content execution: persona profiling, content theme, design and distribution.
- Marketing automation tools will change the way you play- Look to extend capabilities and more tightly integrate them
- The need for quality content- As brands turn into publishers, their content needs will have to expand to the finer points of writing compelling copy adaptable across platforms and written to the tastes of narrowly targeted personas.
Consider these action items to set you on your way: construct a technology road map based on business drivers to guide investment; consolidate applications into a platform with data and process level integration to improve efficiency and effectiveness; work to integrate marketing technology with the enterprise infrastructure to reveal deeper insights into customers, partners, and market opportunities; establish inter-disciplinary teams and processes to combat the silos point solutions can create; and learn to leverage corporate IT to improve vendor management, due diligence, and governance practices.
Let us know what you think and as always stay #TopRight!