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Marketing can no longer be about appealing to the masses, according to some of the leading voices on marketing in the business world. The Huffington Post reported that 2013 was the year of big dataâ€statistics, analytics, SEO, etc.â€but 2014 will be about advertising personalization. These big names have made a few predictions about how marketing will change in the coming year, and how companies are going to have to work smarter to reach their clientele.
First, Eric Schmidt, Chairman of Google, said, â€śThe biggest disruptor that weâ€™re sure about is the arrival of big data and machine intelligence everywhere. The ability to find people, to talk specifically to them, to judge them, to rank what theyâ€™re doing, to decide what to do with your products.â€ť People donâ€™t respond as well to generic assertions or wide-ranging promises. They want to hear what a product or service can do just for them.
Predictive analytics drive up sales
Another marketing voice, Melissa Parrish, principal analyst of Forrester, said, â€śMarketers will start contextualizing their data, drawing ever richer insights, and using those insights to create not just more relevant, but personalized campaigns and experiences.â€ť For instance, advertisers might want to take a leaf out of the Amazon and Netflix books who offer content which matches customersâ€™ previous purchases. Messages such as, â€śIf you like this book then you might like these . . .â€ť are highly successful in prompting additional purchases. Predictive analytics, according to Huffington Post, â€śare leveling the playing field.â€ť
The downfall of the cookie
Another change in marketing which has been ongoing is the ubiquity of using mobile devices to shop, rather than desktop computers. This means the cookie (that text file appended to websites which tracks consumersâ€™ preferences) has lost its power. Adam Berke, President of AdRoll, said this means, â€śThe ad tech community would have to move beyond the cookie to evolve in the multi-device, web vs. app, iOS vs. Android world.â€ť Since you can no longer track spending habits, the best thing to do is spread the advertising around so you can reach as large an audience as possible. One possible avenue for this is via pay per call marketing which should generate leads of people personally interested in your product.
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