Recently, Deloitte has released the 2022 Global Marketing Trends report. As all businesses need marketing, capturing the marketing trends in advance is a good idea. Leaders and company managers shall plan to adapt to the market changes. And this 2022 Global Marketing Trends report is a good reference.
We will illustrate the report by topics.
Quality and price are still the most two important factors in consumers' minds. Besides these two, the third factor is a differentiator that companies can compete for to gain new market. According to the report, the purpose is what consumers consider the third important factor when consuming, especially to new generations.
People now want to know what values companies are standing for. Do they only care about money-making, or do they care more for society and the environment? Do they do good things? More than 80% of people interviewed expect company CEOs to speak more about social values.
As the world becomes unsettled, people are more aware of the overall situation. They want to live in a good world, where life is peaceful and comfortable. And they expect companies to contribute more to society. To meet this expectation, companies need to think carefully about their purposes of selling a product or service. Can it benefit society?
According to the report, high-growth companies(with more than 10 % annual growth) insert purpose more in the decision-making process to lead the company.
2.Diversity, Equity, and Inclusion
Customers also want companies to put more emphasis on diversity, equity, and inclusion(DEI) metrics. New US Census data shows in the past decade, the white population has declined for the first time, while other populations are growing. Therefore, creating a diverse culture preferred marketing strategy will meet the population change.
Generation Z (ages 16 to 26 in 2021) particularly expects companies to have a bigger contribution to society than just making money. They value more culture and meaning aspects. To win over this market, companies have to redirect their marketing strategies and put more effort into creating a diverse, equal, and inclusive culture.
High-growth companies more frequently establish key performance metrics for diversity, equity, and inclusion.
According to the report, almost all CMOs interviewed consider data-analyzing is more important than creative skills. From the data, some unapparent relations can be found. That is why more CMOs are embracing data skills.
The way marketers collaborate has changed too. Before, companies would gather a marketing team and work together. Nowadays, companies develop new marketing strategies to get closer to customers, including influencer strategies.
Companies may hire marketers and data scientists in different regions and countries. They work remotely but closer to the local market and influence customers from the first line.
And it has become a trend to find influencers to convey the brand message and influence customer behaviors.
Transferring from third-party cookies to first-party cookies is the trend now. Google officially announced it will phase out third-party cookies on Chrome browsers by 2022. Other browsers like Safari and Mozilla have also announced the same restrictions.
The deprecation of third-party cookies forced companies to redesign their marketing strategies. With third-party cookies, they can get customers' data from a wide range of sources. However, they no longer get customer data like before with first-party cookies since only the website people visiting can get it.
High-growth companies adapt to the change better than low-growth companies. More than half of them are using first-party cookies now. They are better adapters to the radical changes of the market.
The way high-growth companies use customers' data is also more interesting. They study the data to create a more complex and better experience for the customer, while low-growth companies use the data more for marketing purposes.
5.Human-first Data Experience
As customers become vigilant about their data, companies set up data security departments to protect their users' data. Meanwhile, the marketing department needs customer data to do marketing. How to balance this conflict is a critical task for modern companies.
Building trusted customer relationships with data are the priority.
When it comes to trusted data experiences, transparency and humanity are the most two important factors considered by customers. According to the report, more customers are willing to provide their personal information to brands with transparent and humanized cultures.
Companies ought not to go deep for customers' data cause it will creep them and backfire the brand.
6.Human-centered Hybrid Experience
The Covid-19 has changed the global consuming way permanently. People are getting used to digital time. According to the report, 75% of companies interviewed will deliver a hybrid experience to customers within the next 12 months, which is a combination of physical and digital delivery.
The younger generation is more technologically proficient and prefers to consume in digital ways. They are more likely to purchase on social media, virtual reality headsets, and voice assistants.
Knowing the customers and providing tailored services to each group is the key. The young generation, the old generation, and people with disabilities, all have special needs and different consuming habits. Human-centered hybrid experience means providing enough choices for different consumer groups so that every one of them feels satisfied.
Employing AI strategies with human agents can provide timely and helpful services to customers. Contact center, which many companies are building, has become a revenue generator rather than a mere cost center.
79% of leaders of contact centers plan to invest more in AI strategies in the next two years. AI capabilities combined with human agents will provide a holistic dynamic experience for customers. Each service will be provided at the exact time and scenario.
AI technology shall be used more for strategy making, to create a connected and holistic customer experience. Put human-centered factors at the forefront.
The above 7 points are what we get from the report. We hope it will help you.