- Programmatic Advertising
Programmatic advertising refers to artificial intelligence (AI) to automate ad buying to target more particular audiences. For example, real-time bidding is a sort of programmatic ad buying. This automation is far more efficient and quick, resulting in increased conversions and cheaper customer acquisition costs. However, it is much more than that.
Ad exchanges, which operate automated auctions that bring both parties of the transaction together, run the market for digital advertising space.
- Advertisers are interested in purchasing online ad space.
- Website owners who have digital space to sell are known as publishers.
The entire process is elevated to a new level with programmatic advertising. It uses algorithmic algorithms to sell and place digital ad impressions via ad exchange platforms in a fraction of a second.
Programmatic also uses traffic statistics and online targeting technologies to serve impressions more correctly, efficiently, and at scale, resulting in a higher return on investment for both advertisers and publishers.
2. Conversational Marketing
With all of the chatbot rhetoric, the truth of current marketing emerges: it’s more conversational. People want it that way. Therefore brands are catering to them. When customers have a question, 82 per cent want an answer “right away.”
Conversational marketing, also known as one-to-one marketing, is a new personalized approach to marketing that aims to engage in a one-on-one dialogue with customers to understand their needs better and establish a distinct position in the customer’s mind so that they can recognize the company’s brand.
Although live chat is one of the most popular conversational marketing methods, it is not the only one. Social media, phone calls, emails, and other methods can all be used for the same purpose.
To have a valuable conversation, it should occur when the client chooses, which means it can happen at any time, from early morning to late at night. The interaction should also begin and end at the customer’s convenience, whether it takes a few minutes or several hours.
Without the ability to scale, no marketing approach can succeed. Small and medium businesses have had problems in the past because they couldn’t afford to pay many people to do the job. This is where bots come in, offering 24/7 support and having a library of answers ready for typical questions. If the dialogue grows too complicated for the bot, it can be forwarded to a human.
If you want to stand out in 2021, you need to personalize your marketing- and that means personalized content, products, emails, and more.
Consider these personalization stats:
- 63% of consumers are highly annoyed with generic advertising blasts.
- 80% say they are more likely to do business with a company if it offers personalized experiences.
- 90% claim they find personalization appealing.
When you adjust your marketing depending on the data you’ve obtained from your contacts, you’re using personalized marketing. This covers things like hobbies, purchasing preferences, and purchase history, among other things.
Personalized marketing is when you use this data to customize the information your contacts get via email, advertisements, and other channels.
Personalization has impacted various forms of customer communication as organizations have gotten more accustomed to this strategy. Here are some of the most recent trends:
Customers are 29 per cent more likely to open personalized emails, and customised emails generate 6x more transactions than generic emails.
Over 60% of consumers agree that receiving a discount within an hour of interacting with a business can help drive loyalty, according to a 2017 study.
Less generic advertising: Consumers are getting less receptive to generic commercials as customization becomes more prevalent: Nearly three-quarters of customers are annoyed with impersonal shopping experiences. Over 70% of customers, on the other hand, only respond to marketing that is tailored to their specific interests.
4. Visual Search
Visual Search can take the user experience to a new level:
People can upload an image to conduct a search and get more specific results. A few emerging platforms for this are Pinterest Lens, Google Lens, Camping, and Bing Visual Search.
Consumers today have an attention span of 8 seconds, which is one second shorter than that of a goldfish. Visual search skills are critical in catching the consumer’s imagination and interest in such a time.
Visual Search, by definition, uses images as the query for searches rather than text. Said, visual Search turns your phone’s camera into a search engine. Aim your phone’s camera at any object, take a photo, and you’ll have search results in seconds.
Visual Search, on the other hand, extends far beyond matching images to search results. Photo apps can read text on post-its and convert it to excel sheets, extract and translate text from images, scan QR codes, recognize logos, celebrities, handwriting, landmarks, and recognize logos, celebrities, handwriting, and landmarks. We’ve accomplished so much, and we’re only getting started.
Visual Search is currently sweeping the fashion e-commerce industry. This search type and eCommerce sites are a marriage made in heaven when it comes to well-optimized content. Customers use an image to search for a product, and companies like Myntra have taken advantage of AI-powered recommendation tools that propose close matches to the goods based on the visual Search.
5. Social Commerce & Shoppable Posts
With e-commerce and social media both increasing at alarming rates, it’s no surprise that businesses are combining the two to increase sales.
Instagram Checkout allows users to complete transactions from within Instagram, which was launched in March 2020. Customers will be less likely to abort a purchase if they have to switch apps or sign in to an unfamiliar store, according to e-commerce companies.
Brand-to-consumer relationships have changed dramatically in recent years as a result of social media. Many businesses now have a separate Facebook or Instagram profile because these all-in-one platforms may enhance brand exposure and drive sales. They have the potential to streamline client interactions in addition to being highly effective advertising platforms.
Enter Social Commerce, which refers to the sale of goods and services through social media networks. Customers may now buy directly from your Facebook or Instagram profile by generating shoppable posts and the like.
The technique of using social media to advertise and sell things is known as social commerce. Unlike social media marketing, which tries to direct customers to your page, it allows them to purchase directly from your business page. Removing needless stages from your transaction will boost your chances of making a purchase.
Unfortunately, many business owners overlook social commerce, missing out on countless conversion chances as a result. The guide below will teach you everything you need to know about social commerce and shoppable posts to help you close more purchases.