Scott Matteson spoke of the importance of innovation today when he wrote the following in a Tech Pro Research report: “Company operations that are devoid of innovation are based on simply maintaining the status quo — but nothing can remain stagnant in today’s fast-paced world.” This quote reminds us of the importance of innovation in all elements of business strategy, including marketing. As marketers strive for innovation, the following cutting-edge marketing approaches will become more prevalent.
Signage has gone high tech, with more businesses employing refined digital solutions. ReportBuyer predicted the global digital signage market will grow at a compound yearly rate of 8.21 percent from 2017 to 2022. Its report suggests increased demand, especially due to technological advances and declining costs, will drive this growth.
Obtaining more sophisticated digital signage at lower prices is appealing, but only if it gets results. Studies show that digital signage does, with 80 percent of customers admitting they’ve entered a store because a digital sign caught their eye. Digital signage also stays with viewers long after their shopping experience. Studies suggest this advertising medium has an impressive recall rate of 83 percent.
The rise of online marketing methods has removed traditional borders. Television, radio, newspapers, and magazine ads had a clearly defined geographic audience, while online marketing can potentially reach anyone on the planet. Although a wider reach initially seemed appealing, companies are learning that content attempting to reach a mass audience rarely cuts through.
Geo-specific advertising targets smaller geographic regions through its use of local vernacular, imagery, and references. This type of advertising personalizes the marketing experience for consumers. This personalization is key at a time when 80 percent of consumers say they’d be more likely to do business with a company offering a more customized experience. Coupling geo-specific advertising with geographic reporting tools will also help businesses gain a clearer idea of what’s working and what’s not.
Social Media Content From Digital Influencers
While business social media accounts remain relevant, smart companies are expanding their reach by connecting with digital influencers. They understand that while consumers are skeptical of marketing from businesses, they trust the recommendations of individuals, such as digital influencers.
Digital influencers are powerful social media users who shape the actions of their fans and followers. Digital influencers can include actors, musicians, athletes, designers, and models, along with reality TV show contestants, bloggers, and other prominent figures. When a digital influencer embarks on a certain exercise program or uses a particular cosmetics brand, the individual’s followers take notice and often join in.
Consider soccer player Cristiano Ronaldo, who made 1,703 social media posts in 2016. Nike was referenced or visually represented in 347 of these posts, which had 477 million interactions. These posts have an estimated worth of $499.6 million for the sports brand.
In the future, more businesses should leverage the power of digital influencers, such as Ronaldo, and form mutually beneficial arrangements with them.
While these marketing approaches should dominate in the future, marketers shouldn’t get complacent. Instead, they should continue using creativity to find the next innovative marketing techniques.