Many businesses had to completely shut down operations at the start of the COVID-19 outbreak. A slew of other enterprises swiftly shifted to new business models that would allow them to operate remotely and without face-to-face communication. Consumer behavior has shifted significantly as a result of marketers’ experiences over the last one year.
B2B marketers that had previously relied on in-person prospecting, sales and meetings were suddenly compelled to adapt to the online world. According to the 2020 McKinsey report “The B2B digital inflection point: How sales have changed during COVID-19” B2B organizations now consider digital interactions to be two to three times more essential to their customers than traditional sales engagements. Furthermore, nearly 90% of sales have shifted to a videoconferencing/phone/web sales strategy, according to these companies. Surprisingly, more than half of respondents say it is as effective as or more effective than sales methods employed prior to COVID-19.
The marketing lessons learnt amid COVID-19 are likely to stick with businesses for a long time. Let’s take a look at some of the most important trends and innovations that have arisen in recent months, as well as what the future can bring.
The top marketing trends in 2020 included the increased usage of chatbots, an emphasis on voice-driven search optimization, and the use of artificial intelligence. Podcasts and video, two other trends, were also on the upswing. Businesses are seeing a lot of the same trends this year.
Also Read: AI and ML: Use of Technologies Is Least Across Enterprises Even After Personalization Challenges
The use of chatbots is on the rise once again, fuelled by greater acceptance of artificial intelligence, particularly conversational AI. This year’s key trend is personalization. Aside from chatbots, AI is a technology that is powering many elements of marketing, and it has the ability to do even more as the technology continues to evolve and innovate.
Chatbots
Chatbots have been on the rise for a while, but in 2021, the number of websites utilizing them appears to be expanding. According to a 2019 research report from Global Market Insights, by 2024, the global market for chatbots will be worth more than US$1.3 billion, indicating that AI-based technology is becoming a more cost-effective marketing strategy. When it comes to easy questions, many customers prefer to use chatbots. Customer happiness is one of the major benefits of chatbots for both businesses and consumers.
Personalization
Personalization is at the top of the list of marketing’s most important trends. The digital landscape was already crowded, but the pandemic drew in more consumers and, as a result, more marketers. When it comes to meeting their requirements, consumers today have an ever-increasing number of options, but their preference is still human interaction due to the environment of isolation and disconnect.
Personalization will become a must-have strategy for marketers in the future, as customers place a higher emphasis on authenticity and human connection than ever before. As the economy improves and customers feel safe enough to spend again, personalization will become a critical investment for brands. In the economic recovery, brands that can customize their approach to where and how they connect customers, as well as spend in paid media strategically, will win the bulk of sales.
Artificial Intelligence
AI, of course, is inextricably linked to the ability to create powerful consumer impressions and experiences through chatbots and personalization. It merits attention outside of those specific use cases due to its considerable impact.
AI and machine learning can assist organizations in identifying consumer trends, allowing them to deliver the customized recommendation that a customer is seeking. AI can transform crucial demographic and customer data into actionable behavioral insights. Traditional recommendations usually have a lower conversion rate than tailored recommendations.
Also Read: Five B2B Customer Experience Trends in a Post-Pandemic World
AI can also help in handling information limits, such as the inevitable removal of third-party cookie support. Marketers should also learn to adjust to probable negative consequences. The ideal approach is to employ machine learning to maximize the customer impressions that first-party cookies will still gather when customers engage with a company’s website.
AI is ready to greatly improve how marketers create content, exploit SEO, understand and forecast customer behavior patterns, and more, in addition to its usage in chatbot development and personalization.
For more such updates follow us on Google News TalkCMO News.
