Mary Meeker Series: Ad Spend is Increasing
This post is Part 2 in our series addressing key highlights of the 2019 Mary Meeker Report.
The future of marketing has always been nebulous. Come 2020, targeted marketing might be even more difficult to properly pin down—even as your ad spend rises.
When planning your ad spend for next year, how should you be targeting your audience?
Mary Meeker elaborates on the trends that may arise in 2020’s online marketplaces. How does your marketing strategy stack up?
Try diving into these upcoming trends. You’ll need to know how to market to “digital natives” and mobile users—but if you learn it now, your business can capitalize on the trends of the future before they even arise.
Ad Spending on Millennials
Don’t give up on marketing your services to baby boomers, but the millennial generation now solidly dominates the e-commerce marketplace. And unlike their demographic predecessors, millennials are internet-savvy, having grown up alongside its online landscape.
As a result, the marketing techniques you use to connect with these younger generations of consumers need to be more clever, more direct, and more captivating to generate a profit. You should expect to allocate a good portion of your ad spend towards this up-and-coming generation.
According to the Meeker Report, advertisement personalization is a marketing trend that’s carrying over from 2018. Try to see your consumers as people, not just statistics. As such, businesses need to utilize the data that consumers produce to create individualized e-commerce experiences.
How does this work? Segmentation. Working with tools such as Google Analytics allows you to detect when a new consumer wanders onto your platform for the first time, the second time, or immediately after purchase.
When you segment your audience with these visits in mind, you can customize consumer pop-ups. New visitors might receive a pop-up inviting them to sign up for your platform’s newsletter. Comparatively, you can prompt your consumers to leave a review of a product they’ve purchased.
When you segment your audience, you take advantage of the actionable data your consumers leave behind on your platform and make each consumer feel as though you’re speaking directly to him or her.
Vibing with Video
According to Meeker’s report, video is going to overtake text-based content in the very near future. The amount of time consumers spend watching video online is on the rise. By utilizing videos instead of traditional text-based blogs, you expose your consumers to an advertisement that’s more stimulating than text on a page. Video allows for direct delivery of rhetorical devices such as pathos and framing devices. Thus, you can better utilize your marketing data to build a story around your product and humanize your business to consumer audiences.
Utilizing Social Commerce
These days, social media is dominating business blogs in marketing usefulness. Much of this rise correlates with the growing popularity, if not necessity, of social media in daily life. Facebook is home to over 2.27 billion active monthly users alone, meaning that your audience is already active on the platform. It’s much easier to reach out to an audience through Facebook than it is to draw them to your website with indexed blog content.
Your ad spend may increase in 2020, but your sales can rise with it. Jump on the top marketing trends now to pay dividends for your business in the future.
Image attribution: Monster Ztudio – stock.adobe.com