Data has come a long way in the past ten years. As we enter the next decade, organizations can expect advances in technologies and exciting new ways to leverage their data to increase ROI and drive sales. Our experts weighed in on data trends they see coming down the pipeline in 2020. Here are five data trends that will impact businesses in 2020:
Social media is set to go above and beyond targeted advertising. Instagram rolled out shoppable posts in September of 2019. The Facebook-owned social media giant is a trendsetter and is already reporting that shoppable posts are doing well. In fact, Forbes reports that 72% of Instagram users have purchased a product on the app. Look for Facebook, Pinterest, Twitter, Snapchat and other social media channels to follow suit in 2020.
Heather Winnicki, Vice President of B2C Product Management, Infogroup had this to say, “Measuring success through performance metrics have always been and will remain a tried and true way to ensure your messages are reaching the right audiences. Therefore, the ability to attribute conversion data to the appropriate marketing campaign will always be the number one way to ensure your marketing messages are reaching the right audiences – without that connection spending marketing dollars on a campaign is simply mass advertising or akin to putting up a billboard.”
Forbes predicted that by 2020, 30% of all website sessions will be conducted without a screen. How is that possible? Through voice activation. Voice-activated devices, such as smartphones, home assistants and television remote controls, were popular in 2019 and our experts see that trend continuing and expanding in 2020.
Rohit Chowdhury, Chief Data Officer, Infogroup says, “For marketers looking to incorporate voice marketing, a path to success starts with laying the basic groundwork first. Keep it simple and ensure that you have a solid content plan and access to technology that will fulfill the core requirements. For example, brands with a global presence should prioritize a solution that can cater to more diverse accents and local nuances over a solution that can answer a higher number of questions.”
Consumers in 2019 were presented with an overwhelming amount of choice. While shoppers do take a rational approach to purchasing (price, convenience, quality are all taken into consideration), there’s an emotional aspect of buying that cannot be overlooked. In a world of choice, an emotional connection with a brand can be the tipping point for consumers when deciding where to spend their dollars.
Heather Bruce, Senior Account Executive, Yes Marketing had this to say about the power of connection, “A powerful way to appeal to your target audience is to tap into their emotions – what they are passionate about, who they follow online, etc. Having a deeper connection with your prospects and customers is an indication that you not only understand the needs of your target audience, but also the ‘why’ behind the need. This differentiates your brand and lowers the barrier to purchasing for consumers who share the same values and pick you over the competition. An increasingly popular way to create that connection is to partner with influencers that speak to your target audience; an effective collaboration can quickly put your brand on the map.”
Companies that provide exceptional customer service have the potential to go viral. Any marketer worth their salt is familiar with the viral Morton’s Steakhouse story. In 2011, a customer tweeted at Morton’s asking for a steak to be delivered to the airport when his plane landed. The tongue-in-cheek tweet turned into a viral sensation when Morton’s surprised the customer with his steak at the airport. In 2020, consumers have high standards for customer service; brands who want to stand out from the competition will need to go above and beyond their expectations.
Scott Heiss, Senior Account Executive, Infogroup had this to say about customer service,
“I recently heard customers are more likely to rate a business highly if they had something go wrong with the product or service purchased but experienced great customer service while getting the issue addressed. While I wouldn’t necessarily recommend that as a strategy (even if it may work) it does highlight the important role customer experience plays in a brand’s success and reputation.”
A recent Infogroup survey of 1,000 consumers found that 88% were concerned about the security of their online data. In 2020, brands will have to buckle down and work hard to meet rising consumer demands for more privacy and transparency.
Erica Huntley, Senior Marketing Strategist, Yes Marketing, “Repeated privacy mishaps and security breaches have made consumers realize that their data may not be as safe as they thought, yet they still desire and expect a personalized experience. Marketers will need to evolve personalization strategies and at the same emphasize building trust as key factors to maintaining customer relationships. Be transparent on how data is used necessary and respect that some customers value their data protection over getting personalized marketing messages. Marketers should consider providing more privacy options that foster trust and ensure messages also serve to reassure consumers on how their data will be used and protected.”
For more insights, read the full report on 2020 trends here.