Wednesday, December 27, 2017
by Jagdeep Bhoghal
Three marketing trends for 2018
It’s coming to the end of 2017 (where did the last 12 months go?!), so we thought we’d round off the year with our thoughts about big trends to look out for in 2018 within the marketing industry.
Segmentation and personalisation
Segmentation and personalisation certainly aren’t new concepts in marketing, but they’re becoming more and more important in the marketing arena.
With so much competition out there, particularly within email marketing, marketers need to be smarter about the way they target and interact with consumers to get their message across. Think about it – when people open their emails, chances are they’ll receive a barrage of emails that are probably irrelevant, usually from a whole bunch of companies they’ve never even heard of.
That’s why as marketers, we need to make use of behavioural, attitudinal and geo-demographic segmentation methods, amongst others, in order to provide a more targeted and personalised experience for consumers. By segmenting your audience, you can provide tailored offers and updates that are much more relevant to your target audience and less likely to annoy people. It’s a sure-fire way to boost your open and click rates and is likely to bring in much more qualified leads.
Most analysis of customer data tends to focus on current customers, specifically who they are, demographic information, attitudes and behaviours. This is all great information to feed back into the planning of next quarter’s campaigns, but it can also be taken one step further: predicting which of your customers are likely to leave your list – or as we say, churn.
Let’s say you’ve analysed a sample of your customers and found out some characteristics of customers who’ve churned, i.e. they’re of a particular age range, tech-savvy and earn a certain income. This is pretty powerful information as it can be used to predict which of your other customers who share these characteristics but haven’t yet churned, are more likely to than other customers. Once you’ve identified these customers, you can take all sorts of pre-emptive action to lower the likelihood of these customers churning, for example, sending an email offering 15% off their next purchase.
Predictive analytics will make a big impact in 2018 and need to be part of any marketer’s toolkit.
Yes, we all know what’s coming in May 2018: the General Data Protection Regulation (GDPR). One major impact of the new regulations will be the need to re-permission most marketing databases. This is because of the vast majority of companies relying on a ‘Legitimate Interest’ clause to market to their existing customers. However, under GDPR, ‘Legitimate Interest’ will no longer be a valid justification and companies will need to contact their customers and request a new permission to market to them. Ideally, this would be a more granular permission that keeps the customer in control of what, when and how they receive marketing communications. One key thing to remember is customers LIKE personalisation, just as long as they have some control over what that looks like.
So keep an eye on the latest news on GDPR, and if you haven’t already, get started on updating your organisational processes to be compliant with GDPR.
And there you have it, three marketing trends for 2018 we think you need to keep an eye out for. If you’d like some more information about how the team at Denfield can help your marketing get ahead in 2018, get in touch with us and we’ll be happy to help!