Looking Ahead: 2021 Marketing Predictions
2020 was a year of many ups and downs and the overuse of the word “unprecedented” in marketing. It was a jarring year for many individuals and businesses alike. It’s no wonder everyone has been so excited for the calendar year to end and are looking forward to a new year full of possibilities. Here at J Miller Marketing, we have been looking ahead to 2021 as well. Specifically, how 2020 has impacted marketing trends and what we think is in store for 2021!
How Did 2020 Impact Marketing Trends?
2020 changed the way we consume media. With more time at home, we consumed more online content whether it was streaming TV, audio, or shopping online. In fact, “video streaming on Internet connected devices increased 100% YoY”.1 There was also an 18% increase in listening to podcasts.
According to a report by Hootsuite, the 3 main goals of businesses going into 2021 is increasing their acquisition of new customers, increasing brand awareness, and driving conversions.2 This doesn’t come as a surprise considering 2020 changed our shopping and consumption habits. With more consumers viewing content online instead of through other channels, businesses must find new ways to reach their goals and make their brand known.
J Miller Marketing Predictions For 2021
We will continue to see a rise in streaming media usage
The rise in streaming media usage will be here to stay for the majority of consumers. This also means an increase in advertising for audio and OTT/ Connected TV. If your business hasn’t already investigated this path in paid advertising, it may be time to consider it.
Chatbots will continue to be a topic of conversation - maybe even on Instagram!
Chatbots have been growing in popularity for years. It is even more important now as businesses are trying to find creative ways to interact and reach their online consumers. Almost 80% of businesses plan to integrate some form of Chatbot system by 2021.3 Chatbots can also help save up to 30% of their customer service costs.
Live Streaming will continue to be utilized
Another way businesses stayed connected with their customers was through live streaming on social media. This trend will stick around in 2021 as businesses continue to engage with their customers on a frequent basis.
Cookie-less tracking will gain popularity
With some popular browsers eliminating cookies in 2020, marketers will have to find new ways to track. Marketers can use marketing mix modeling (MMM) to combat this. “MMM is an analytical, top-down approach to understanding how a company’s promotional efforts, the general economy, and even competitors impact sales.”
2020 became the year we really relied on the internet to stay connected. We don’t see that trend slowing down in 2021. Brands need to continue to innovate to stay in touch with customers through streaming advertising, chatbot, and live streams. Not even a lack of cookies can slow marketers down! We are ready for 2021. Are you?
Sources