Emerging subject in marketing assignment

Emerging subject in marketing assignment

The primary objective of this assignment is for students to acquire a comprehensive comprehension of a burgeoning subject in the field of Marketing. Every student will engage in comprehensive research on the subject and compose the research paper.

The research topic is:

Marketing and branding initiatives that achieve a harmonious balance between the well-being of individuals, the sustainability of the environment, and financial gains.

Kindly be aware that the subject has been given. This does not pertain to the subject matter.

Within this expansive framework, you have the option to examine a particular marketing issue.

Key Recommendations:

1) This theme is really expansive. To optimise your results, it is crucial to choose a specific and focused study topic within this overarching subject.

2) Kindly examine the resource links provided below to gain a comprehensive understanding of the process of writing research papers. Link 2 is an especially valuable resource for understanding the growing issue in Marketing Assignment.

Directions:

1) It is advisable to structure the research paper in the following manner:

– The utilisation of acceptable references, relevant data, and the depiction of data through tables and charts.

2) The recommended word count range is between 1800 and 2500 words.

3) It is necessary to utilise other academic sources, such as research journals, and relevant non-academic references. These can be accessed through your library. The rising topic in this Marketing Assignment requires the inclusion of in-text citations and references in APA format.

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Top digital marketing trends

  1. Conversational marketing refers to the practice of engaging in interactive and personalised conversations with potential customers in order to promote products or services.

Conversational marketing refers to the practice of engaging with customers in real-time, personalised conversations to build relationships, gather insights, and drive business outcomes.

It is the platform where users engage in discussions with brands using chatbots and voice assistants. It is frequently utilised in online marketing initiatives, particularly click-to-messenger, which is a highly favoured choice for paid advertising.  Conversational marketing relies primarily on artificial intelligence and machine learning.

What makes it highly efficient?

Research has revealed that a significant majority of consumers, specifically 70%, have the expectation of receiving immediate responses to their inquiries and questions. From a marketer’s perspective, it is an effective method of increasing user involvement, which subsequently enhances conversion rates and maximises return on investment (ROI). Additionally, chatbots, powered by artificial intelligence (AI), enhance the efficiency of the sales process by pre-screening potential customers and forwarding only qualified leads to the sales team. In the era of data-driven digital advertising, conversational marketing facilitates the gathering of a wider spectrum of audience information.

Conversational marketing, from the viewpoint of a consumer, enhances trust and enhances the customer experience. A survey conducted by sales force revealed that 42% of consumers have a lack of faith in brands, frequently due to a lack of responsiveness or sluggish customer service. Through the strategic use of conversational marketing, brands are able to deliver immediate responses across many points of contact, resulting in heightened customer loyalty and a stronger commitment to the brand.

Strategies for incorporating conversational marketing into your business

There is a diverse array of instruments accessible for leveraging conversational marketing. Click-to-messenger features on social media platforms such as LinkedIn and Facebook are ideal for initiating and engaging in discussions with clients. Websites commonly utilise live chats and WhatsApp messaging buttons as prominent tools for conversational marketing. Emerging subject in marketing assignment.

  1. Customised content experience

What does the term “highly personalised content experience” mean?

Personalised content is specifically customised for each individual user. Amazon, Netflix, Spotify, and Facebook are prominent brands that adeptly customise content for individual users. Upon logging into Amazon, the homepage presents content that showcases products that are likely to capture your attention, taking into account your past purchases and browsing behaviour. Netflix utilises your viewing history and favoured genres to provide personalised movie and series suggestions, while Spotify employs a similar approach to offer music recommendations. Facebook utilises algorithms to ascertain the type of material to display on your newsfeed.

What makes it highly efficient?

Customised material is currently gaining popularity to a greater extent due to the Covid-19 pandemic, lockdowns, and the growing prevalence of virtual living. Research conducted by HubSpot revealed that a significant majority of internet customers, specifically 74%, experience frustration when encountering content that appears to be irrelevant to their personal interests. According to experts, the extensive use of electronic devices for ingesting content during the lockdowns of 2020 has resulted in society developing a near immunity to such content.

By customising information, brands enhance their ability to differentiate themselves and effectively communicate with their target customers in a manner that is meaningful to them. Hubspot conducted an analysis of data from about 100,000 call-to-action buttons (CTAs) over the span of a year. The findings revealed that personalised CTAs garnered 43% more click engagements compared to generic ones.

Strategies for incorporating customised content into your business operations

In order to offer tailored content, organisations must actively gather consumer data and possess robust data analysis, artificial intelligence (AI) technologies, and customer relationship management (CRM) platforms. Through the process of tailoring information to individual preferences, brands establish more robust connections with their target audience, so enhancing their level of interaction and increasing the likelihood of achieving desired outcomes.

  1. Experiential marketing

Experiential marketing refers to a promotional strategy that aims to engage consumers by creating immersive and memorable experiences that connect them with a brand or product.

Experiential marketing is a contemporary approach that emphasises the creation of a user experience centred around a brand, rather than solely focusing on the product. Different brands and sectors offer a range of experiences, but some of the most frequent examples of experiential marketing are corporate events, webinars, and competitions.

Consider the computer behemoth Apple, a brand frequently recognised as a trailblazer in this form of advertising. Apple has lately organised their renowned “photo-walks” when an Apple employee leads customers on a tour of a neighbourhood and instructs them on how to capture images using their iPhone. The company also hosts its annual Worldwide Developers’ Conference, its largest event of the year, where it convenes thousands of programmers from across the world to discuss the most recent developments.

What makes it highly efficient?

Experiential marketing enables people to actively interact with the brand and immerse themselves in its values and personality, rather than solely focusing on its product. Research conducted by sales force indicates that 84% of buyers have a preference for being treated as individuals rather than mere statistics. By generating memories, brands enhance the personal bond between their product and emotions, thereby boosting brand loyalty and sales.

Strategies for incorporating experiential marketing into your business

Every brand, regardless of its size, should include experiential marketing as a crucial component of its marketing plan. While small businesses may not have the financial resources to organise extravagant events like Apple, they still have the ability to develop distinctive experiences tailored to their target audience. Experiential marketing is frequently employed by small and medium-sized enterprises (SMEs) and startups through the organisation of small-scale local events and online activities.

In order to achieve success in experiential marketing, firms must possess a thorough understanding of their target audience and establish explicit and quantifiable goals for their events. Common aims in experience marketing include constructing email subscriber lists, augmenting social media following, and generating revenue. Emerging subject in marketing assignment.

  1. Marketing using influencers

Influencer marketing refers to a form of marketing where brands collaborate with individuals that have a significant online following and influence over their audience to promote their products or services.

Brands utilise influencers on social media sites such as TikTok and Instagram for their marketing campaigns, similar to how they employ celebrity endorsements. Although not a recent phenomenon, this approach has become increasingly popular in recent years due to its straightforwardness. Influencers, especially micro-influencers, create and share material that involves them interacting with a brand. This interaction might take the form of using the brand’s products or services, or connecting with the business’s workers.

What makes it highly efficient?

In terms of effectiveness, influencer marketing generally outperforms traditional celebrity endorsements because to the “engagement factor”: individuals tend to engage with influencers, resulting in a higher likelihood of responding to the marketing effort. As an illustration, Audible, a subsidiary of Amazon that focuses on ebook subscriptions, collaborated with Jesse Driftwood, a prominent influencer in the field of photography. Despite having fewer than 100,000 followers on Instagram, Amazon recognised that he had a devoted fan base that actively interacted with his content. Driftwood’s posts regarding Audible garnered significant user involvement, as seen by comments such as “that is a good idea” and “can’t wait to give it a try”.

Influencer marketing leverages customer behaviour and psychology, particularly through the use of recommendations. According to market research firm Nielsen, a significant majority of consumers (83%) place more trust in personal recommendations compared to traditional digital advertising. Therefore, influencers serve as an ideal method for firms to generate widespread personal recommendations.

Social media influencers possess expertise in a specific field and attract followers who share particular interests. For marketers, this implies the ability to deliver more focused advertising, resulting in decreased advertising expenses. As an illustration, National Geographic recently collaborated with influential wildlife photographers for a campaign in social media marketing. Furthermore, it is only logical that their followers would be intrigued by the National Geographic brand due to their shared passion in animal photography. Emerging subject in marketing assignment.

Strategies for incorporating influencer marketing into your business

For optimal outcomes, brands should seek out influencers who create and share content that is directly relevant to their product or business. Marketers have the option to utilise hashtags to independently locate influencers on various social media platforms or collaborate with influencer firms. Prior to reaching out to influencers, firms should establish their goals and identify their target demographic, as is customary in all marketing initiatives. The most prevalent form of influencer marketing material involves influencers showcasing a brand’s product or service through images and videos of themselves.

  1. Ongoing process of converting traditional systems and processes into digital ones.

Continued digital transformation in marketing refers to the ongoing process of using digital technologies and strategies to enhance and evolve marketing practices. It involves the consistent adoption and integration of digital tools, platforms, and techniques to optimise marketing efforts and achieve business objectives.

Companies must modify their business strategies, goods, and internal structures in response to emerging consumer patterns driven by digital technology. Marketing digital transition refers to the process by which organisations shift their marketing strategies from traditional print advertising to digital means, such as social media. The ongoing digital transformation in marketing for 2021 and beyond involves firms utilising emerging technology to enhance their marketing strategies and enhance the overall consumer experience.

What makes it highly efficient?

The ongoing digital transformation in marketing entails the use of data-driven campaigns and optimisation, resulting in more conversions, reduced advertising expenditure, and enhanced return on investment. These outcomes are unattainable by traditional advertising methods. Research indicates that 86% of organisations report an increase in client acquisition costs (CPA) during the past two years. In order to decrease CPA, organisations should prioritise enhancing user experience and augmenting customer retention. Amazon’s Alexa exemplifies customer-centric digital change. Suppose you desire to purchase your preferred type of coffee. There is no longer a need for you to manually search for it on the internet. Instead, you can directly instruct Alexa to “order my favourite coffee,” and Amazon, utilising voice search technology driven by artificial intelligence, will handle the task for you. This phenomenon is referred regarded as “headless commerce” and serves as a prime illustration of how firms utilise technology to enhance user experience and maintain consumer loyalty.

Strategies for incorporating ongoing digital change into your firm. Emerging subject in marketing assignment.

Ongoing digital transformation does not need to be as advanced or complex as Alexa. Marketers in smaller firms and startups have access to a diverse array of tools to facilitate the ongoing digital transformation of their brands. Google Analytics, A/B testing, and customer data platforms (CDP) exemplify digital change in marketing.

  1. Emerging Social Media Patterns

What are the latest social media trends anticipated for the year 2022?

Video content and social selling are the leading emerging elements on popular social media platforms for 2022 and beyond. Due to the increasing popularity of TikTok, the usage of video and Livestream has surged significantly. Instagram introduced Reels in 2020 as a strategic move to challenge TikTok’s supremacy in the realm of video content, according to numerous social media analysts.

Social selling has gained popularity since Facebook introduced Shops across their network in May 2020. Brands now have the ability to utilise social networking platforms as e-commerce websites, enabling them to immediately publish and sell their items.

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What makes these emerging social media trends highly efficient?

Research indicates that when it comes to videos, audiovisual content is 40 times more prone to being shared compared to those without audiovisual elements. Video advertising is the most popular kind of advertising, generating higher levels of interaction compared to text and image-only commercials. Approximately 80% of consumers have a preference for watching videos over reading content when making purchasing decisions. Based on these statistics, it is evident that consumers are more actively involved with video content. Marketers should leverage this fact to their benefit when strategizing campaigns. According to several social media specialists, videos have the potential to boost conversions by as much as 30%.

Market study indicates that 87% of consumers perceive social media as a valuable tool for making purchasing decisions in the context of social selling. Usually, consumers engage in product research on social media platforms, where they examine reviews and information, before making a purchase on a company’s website. Consumers now have the ability to buy things directly through platforms such as Facebook and Instagram, thanks to the addition of new purchasing features. This results in a simplified and efficient client experience, leading to higher conversion rates. Statistics from China indicate that 70% of Generation Z consumers make direct purchases using social media.

Strategies for incorporating emerging social media trends into your business. Emerging subject in marketing assignment.

Despite the availability of advanced cameras and sophisticated editing software, the task of recording a video for social media can be accomplished by virtually anyone using a smartphone. Marketers have the ability to reuse timeless content to produce films, and utilise Stories, Reels, and Lives to enhance user interaction. To optimise outcomes, social media teams should analyse audience data to ascertain the most effective content kinds and optimal posting times. Avoid the frequent error of attempting to have a presence on every channel, and instead concentrate on the platforms that are predominantly utilised by your target demographic. To engage in social selling, marketing teams should access their account settings to customise stores and upload their products for sale.

  1. E-commerce refers to the buying and selling of goods and services over the internet.

What are the latest e-commerce trends anticipated for 2022?

In this post, we have discussed some emerging trends in e-commerce, including social media selling, personalisation, headless e-commerce, and conversational marketing. Additional emerging trends encompass virtual reality, visual search, and supporting local businesses.

Virtual reality is gaining popularity as it effectively tackles a prevalent concern associated with internet purchases: the apprehension that the actual thing may differ from its depiction in images. Utilising interactive 3D and 360° pictures allows customers to enhance their understanding of the goods, while many shops leverage user-generated movies to increase conversion rates. AI-powered visual search functions by presenting users with images of products in response to their search criteria.

The “Shop Local” movement has gained significant traction in response to the severe impact of the pandemic on small enterprises. Consumers are now showing a growing preference for purchasing from independent stores rather than huge brands in order to assist in their recovery. Emerging subject in marketing assignment.

What makes these new trends really effective?

The e-commerce industry experienced significant growth in 2020 due to the emergence of the Coronavirus pandemic and the subsequent shutdown of brick-and-mortar retail establishments. In the United Kingdom, there was a substantial 61% surge in e-commerce sales in May 2020 as compared to May 2019. Despite the reopening of the world, consumer behaviour has undergone changes, and the prevalence of e-commerce is projected to increase even more.

The utilisation of virtual reality and visual search technologies is enhancing conversions because people tend to have a more favourable response to visual content as opposed to text-based content. According to Google, visual information attracts 94% more clicks, although Vizenze, an AI company, asserts that 62% of millennials prefer visual search over word search.

A majority of consumers, namely 65%, currently have a preference for purchasing from brands that actively promote sustainability. Local businesses, in particular, exhibit greater flexibility in this regard as they have a less environmental impact in terms of carbon emissions and energy usage compared to large-scale shops.

Strategies for incorporating emerging e-commerce trends into your business

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– Businesses may enhance conversion rates by implementing a few uncomplicated modifications to their graphic content. Converting photos from JPEG and PNG to WebP format will enhance both image quality and loading speed. Requesting consumers to provide images and videos of themselves using things is a potent strategy for merging social validation with visual media to enhance conversion rates. In terms of sustainability, corporations ought to endorse environmentally-friendly efforts such as carbon offsetting and minimising packaging. Emerging subject in marketing assignment.

  1. Automated Advertising

Programmatic advertising refers to the automated buying and selling of digital advertising space using algorithms and technology. It involves using data and real-time bidding to target specific audiences and optimise ad placements.

Programmatic advertising refers to the automated process of purchasing digital advertising space. Historically, marketing teams were required to generate bids, engage in negotiations, and finalise contracts. However, with programmatic advertising, companies have the ability to compete for advertising space in a matter of milliseconds. This allows marketers to allocate more time towards optimising their campaigns rather than dealing with administrative tasks. Currently, some firms are allocating as much as 50% of their advertising budget to programmatic advertising. It is anticipated that this trend will surpass $100 billion by 2022.

What makes it highly efficient?

Programmatic advertising enables the analysis of data in real-time and the targeting of specific audiences. Google employed programmatic advertising to market its search application, resulting in a 30% increase in audience reach while reducing the cost per thousand impressions (CPM) by 30%. Programmatic advertising enables organisations to engage in agile and automated ad buying, resulting in time savings for employees and increased return on investment (ROI).

Programmatic advertising operates on many networks and ad exchanges, enabling businesses to expand their reach and focus on their target audience by delivering more pertinent advertisements. This contributes to increasing the number of successful customer actions and enhancing the recognition of the brand. Emerging subject in marketing assignment.

Methods for integrating programmatic advertising into your business

In order to execute programmatic advertisements, firms must initially select a demand-side platform (DSP) to establish financial allocations. Well-known digital signal processing (DSP) platforms include Media Math and Ad form. Subsequently, in line with customary digital advertising initiatives, marketers must establish the specific goals and key performance indicators (KPIs) of their campaign, determine the creative format, and identify the intended audience. After the campaign is launched, marketers should utilise data to identify patterns and enhance their initiatives for improved outcomes.