Digital Trends: An Industry Focus on Digital Marketing in 2015
On the Digital Europe blog we’ve been looking at developing trends and upcoming developments in digital marketing. If you’ve not yet seen our predictions for 2015, you can take a look here.
While I expect to see these trends progressing across the board, there is no one size fits all approach to marketing. With that in mind, I’m taking a look at a few key industries and considering how our key trends of mobile, personalised customer experience, cross-channel and data-driven marketing will impact them over the coming year.
First up is financial services, an industry which is struggling to keep up with the flexibility required for advanced personalisation, despite heavy investment.
In recent years, Financial Services Institutions (FSI) have invested heavily in brochureware (pre-registration or log-in) sites to boost sales. However, the majority of digital interactions happen with registered customers in an authenticated space such as the transactional area of your online banking. These authenticated spaces currently have very little flexibility to deliver personalised and engaging customer experiences, something we know is vital. In 2015, FSIs will become significantly more experimental on the web, delivering consistent personalised experiences to both brand new and authenticated customers. If done well, these changes will lead to improved cross-sell and up-sell from digital channels.
In retail, the online and offline experience will continue to merge. Many retailers have already invested in building the ability to connect the online and offline customer journeys. As this picks up pace in 2015, technologies such as BLE (Bluetooth Low Energy) and sophisticated ePOS (intelligent point of sale software) will allow retailers to collect digital interaction data in the physical space. Online, offline and in-store behaviour will combine to create rich, engaging experiences for retail customers with physical locations taking a central role in digital data collection.”
The same theory will apply to customer service, says my colleague Michael Plimsoll:
“In Store knowledge is valued by consumers and brands alike and in 2015 ever more of this expertise will appear online. Real time, online interactions with staff as well as intelligent algorithms will allow consumers to access the same level of customer service and recommendation as they would expect in store. A cross channel approach will enable brands to better cross sell and up sell.
As for the supply chain, as vendors ship more on their own behalf, consumers will benefit from greater flexibility across channels with ordering, delivery, pick up and returns taking place both online and in store.”
I am looking to the automotive industry to continue driving digital innovation. It is already at the forefront of consistent brand experiences and digital content management. In 2015, they will be using data to increase the effectiveness of digital marketing throughout the entire costumer lifetime.
Digitalisation of dealer showrooms will allow companies to gain insight into the customer journey as well as dealer effectiveness. Innovative partnerships with digital brands will extend the value of the brand beyond the vehicles themselves; it will inherently make the automobile more digital. As a result, automotive companies will develop ways to harvest and analyse newly generated data.
Understanding the value of the data we have is important to all marketers, but the uniquely placed telecommunication industry will begin to view this data as a resource in itself.
Companies have long been using digital to increase operational efficiency and to up sell and cross sell their products. However, they also own a treasure trove of digital data – from TV viewership to mobile app downloads — which will increasingly become a source of revenue.
It’s clear to me that data-driven and cross-channel marketing is set to have a huge impact on the customer experience in 2015, no matter the industry you are in. If you’ve not done so already, it’s time to dive in.
Now it’s over to you – take part in our 2015 digital marketing survey and become part of the Digital Intelligence Briefing 2015 report.