Digital marketing advances—laying the groundwork for the 2020s
Catch up on part I and part II In Part I of this (now) three-part series I gave readers an overview of tech trends to expect in 2017. In Part II, I outlined what experts foresee as the impact of digital infrastructure changes on marketing strategies in 2017 through 2020. In this Part III segment, I discuss probable tech and related marketing changes that will accelerate and pave the way for the future of digital advertising in the 2020s.
Digital Marketing Trends to Watch Heading into the year 2020
As we look at future of digital marketing what is the major takeaway in this three-part Insights article? —Make sure your marketing staff/consultants are up to speed on digital advances and related marketing content and venues.
2020 and beyond–What you need to know
- Information-based products and services will dominate — By 2020, 50% of the largest 2000 global businesses (aka, the ‘G2000’) will be using digital technology to enhance their products, services and marketing. That percentage is bound to increase substantially in the 2020s because revenue growth for information-based products and services is 200% higher than for non-tech-driven businesses.
- Mobile websites will beat apps — The introduction of new mobile apps is expected to peak in 2017. Why? Mobile websites are easier to maintain and more cost effective over time.
- Investment in 3rd platform technologies will grow to over 75% of IT spending — Third Platform Technologies integrating mobile computing, the cloud, social media, big data analytics and, by the 2020s, the Internet of Things (IoT) will dominate. This will include substantial growth in Cloud Infrastructure Services (IaaS), i.e., remote hardware; Cloud Platform Services (PaaS), i.e., proprietary apps and other software; and Software as a Service (SaaS), i.e., third party managed software. –I’ll describe what these related developments mean for your business in a future Insights post.
- Blockchain-based distributed databases will improve cloud security — Blockchains are distributed computing/database systems characterized by decentralization and public-key cryptography transaction authentication. This breakthrough technology improves security while streamlining global financial systems and reducing provider costs. Resulting profits will drive new, profitable business models and enterprises.
- Expect exponential growth in augmented reality purchasing– Conversion rates increase when customers have a chance to try on clothing and other personal enhancement products before buying. One expert estimates that by 2020, over 100 million consumers will be using augmented reality software to shop.
- 30% of web browsing will be screenless by the early 2020s — We’ve already seen the introduction of Apple’s AirPods, Google Home and Amazon’s Echo with total units projected at 10M units just by 2020. New, improved iterations of these products will grow the market as new voice-driven apps are introduced.
- Seven current digital giants are expected to thrive in the 2020s — While new mega players will doubtlessly emerge in the 2020s, Google, Apple, Facebook, Amazon, Baidu, Alibaba and Tencent seem destined for continued success. Among their advantages–they are now working to develop the improved ecosystems required for integrated use of the IoT.
- IoT is projected to save consumers and businesses over $1 trillion a year in maintenance and services — IoT appliances help consumers save money directly (e.g., as with reduced heating and cooling costs). They also have built-in maintenance monitoring to prevent costly breakdowns while building repair services business revenue.
- Fitness trackers will be used by a substantial percentage of employees in the 2020s — Businesses will help employees improve their health while saving on corporate health insurance costs with devices that monitor vital signs and physical activity levels. Over 70% of multinational companies already sponsor wearable tracking devices. Similar technology will be used to ‘enhance’ other employee behaviors.