Key trends to expect in the Marketing Industry in 2013
This year has already been an exciting year for marketing practices in the UK. Not only have we seen a further blurring of the lines between traditional and digital marketing, we have seen the rise in social media and mobile marketing as a viable resource for marketers. Also, it appears that online video is making a viable step forward and is becoming increasingly important part of any marketing mix.
Digital Marketing continues to enjoy a steady year-on-year growth compared to its traditional offline cousin. Why?
It’s simple; cost.
Traditional marketing (advertising, sales, merchandising, and distribution) all cost more per lead compared to online. However, this trend should not be fought but embraced; because it looks to continue into 2013.
Major companies are adopting the upsurge in strategic social sharing as a way to increase exposure and direct traffic to their site.
Now it is possible to validate and recommend products and services through popular social networks; further increasing the opportunities to promote and advertise to your consumers. As this form of marketing continues, so too will the amount of companies coining onto its potential and including it in their marketing mix.
Social media marketing will also expand and grow into other areas in 2013. It is well known that recommendations and endorsements from other users play a very important role in selling your product. In fact, consumers are 80% more likely to listen to a review for a product from a friend, family member or someone they trust than from someone they have never met.
The ability to endorse and recommend products or services, whereby it be a like, share or +1 ensures that marketing has become a race to enjoy the lion’s share of approval.
It is not only digital marketing that will benefit from this rise. Traditional and classic marketing – including press releases, brand reputation, media and events will all benefit through increased social media interaction. The important thing is making sure it is in a positive light. Little sympathy is offered to companies deadlocked in a competitive industry that fall victim to negative PR. Expect your competitors to sense and exploit this weakness.
Another key trend for 2013 is likely to be the increased leaning towards mobile; in the form of smartphones and tablets. With the release of 4G to some parts of Britain in the Autumn of 2012 it is safe to assume that come the turn of the year we will see exactly what potential this technology has. With easier, faster access for public, faster download and streaming speeds, the year 2013 will truly be a pivotal year for online consumer marketing.
The good news for traditional marketers is there will always be a demand for more traditional aspects like direct mail, trade shows, event launches, publicity stunts etc. Combining these practices with a more contemporary angle will be the toughest task.
So, as 2013 looks to see a further proliferation of these practices, it is not so much who embraces these tools but who becomes the industry trailblazers that are important. It is clear that the big players have the biggest advantage here, but if you are an SME or self-employed it is important to start preparing now for what will undoubtedly be a very important year for marketing. Get stuck left behind and you may find it hard to pull yourself back up the industry chain.
In terms of industries to look out for wil be the financial services industry. No one is quite sure whether we will see a further proliferation of financial companies or an expansion. All of this is dependent on the economic market. For this writer, keep an eye on financial marketing movers and shifters as it could be the year where confidence picks up.
Whatever is in store, it is important to have a 2013 strategy outlined now so that can better prepare and adapt to shifting markets and changing circumstances. Marketing is a constantly evolving industry, 2013 is very much looking like the year we will see changes so remember to keep up with the changes but more importantly, identify key trends and try to look for marketing opportunities before they happen.