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Video marketing has been an important tactic for big brands for years. But video is changing. By 2020, video will make up more than 85% of all consumer internet traffic in the U.S. Most of the videos people will be watching won’t be uploaded by brands or businesses – they’ll be uploaded by individuals. One of the biggest hang-ups many businesses have with video marketing is the production aspect. They want their videos to look professional – like they were produced by Hollywood directors. But you can do fine by using simple recording and editing tools. For example, InVideo can help you create stunning professional-level videos in minutes with pre-made templates. Most importantly, people aren’t looking for dazzling special effects. They just want good content that’s entertaining, informative, and story-driven. Not only does HubSpot introduce its new video series, “Brilliant,” the company tells the story of an entrepreneur who overcame significant challenges and built a business through persistence and determination. The video contains some excellent production elements, but it’s the story that drives it. These are the types of videos that garner attention and go viral. Instead of selling software, HubSpot has found a way to build a community around its brand. And that type of brand recognition is priceless.
Ultimately, it is the business, marketing, and brand development strategies which drive the growth of a business, so it is important to have a sound marketing strategy and branding in place before working on the digital tactics. Otherwise, it’s likely your hard work on the digital tactics will be wasted if they are directed at the wrong audience and your value proposition isn’t strong enough. The key trend here is the way digital technologies and media offer the opportunities for digital disruption. Yet digital marketing is not always used as a disruptor. As I discuss in my Digital Marketing: Strategy, Implementation and Practice book, digital marketing is more often used for market penetration than new product or market development (these are the classic Ansoff growth strategies). To give you a benchmark, this new CMO Survey research from Duke University Fuqua Business School, Deloitte and the American Marketing Association based on the views of Chief Marketing Officers (CMOs) in large US organizations is useful. It’s interesting since it translates the theory of Ansoff into practice, showing how businesses are mainly investing, but other strategies are significant.
Chatbots will continue to be an important part of digital marketing in 2020. This AI-based technology uses instant messaging to chat in real-time, day or night, with your customers or site visitors. Many customers prefer interacting with chatbots as they are responsive 24/7, give answers promptly, accurately recall your entire buying history, and never lose patience. These virtual assistants offer outstanding customer service by meeting customers’ expectations and automating repetitive tasks – which means that you can focus on more important work. Many brands already use chatbot technology, including rideshare brand Lyft. You can request a ride from Lyft via chat (Facebook Messenger and Slack) or voice (Amazon Echo), and their chatbot will let you know the current location of your driver: Passengers can use the app to choose the type of ride, make a request, track the location of the car, send friends a time estimate of their arrival, and make payment.
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