2020 was a disastrous year for businesses across the world, with COVID-19 lockdowns lowering sales and limiting the income of consumers. In 2021, the return to normality has begun with vaccination programs starting to roll out around the planet. The change in lifestyle the lockdown periods began will continue into 2021 and 2022.
Southern New Hampshire University reports there are seven common types of digital marketing, including Search Engine Optimization and {ay Per Click. Bennet Schwartz believes the future of marketing has changed as the lockdown took control of our lives and must adapt to meet our needs.
1. Social Media Commerce Continues to Expand
Forbes reports the history of social media has been littered with false starts in the monetization of platforms. 2020 brought people closer to their social media friends and followers as the commercialization of social media continued apace. Social media platforms are moving closer to their aim of selling products through advertising and the use of influencers.
Forbes reports the evolution of social media will make social media marketing more important to the profits of platforms and retailers. The adaption to the new rules of social media marketing will take time to complete, with mistakes possible for many large box stores.
2. Livestreams and Influencers
Traditional marketing too a backseat in 2020 and the first half of 2021. In their place came a move towards using the personalities of internet celebrities to sell products and services. Social media influencers attract the following of millions of people who will purchase what their favorite personality recommends. A good example of the impressive use of social media influencers was identified by bennet Schwartz during the annual Pride month. Cosmetics companies partnered with influencers to create unique looks for Pride despite festivals and events being canceled. A partnership with a successful influencer leads to a brand reaching a global audience.
3. Goodwill Marketing
Several experts have identified a trend for brands to offer marketing campaigns that focus on the good deeds of others. The use of goodwill marketing is notoriously difficult, with brands seen to be profiting off the problems of others. The notorious Pepsi TV spot featuring model and reality TV star, Kendall Jenner, was pulled for appearing to profit from Black Lives Matter protests. Brands have become savvier when it comes to marketing their good works, with Hilton's Hotels for Heroes program a recent example. Providing free hotel rooms for medical workers on the frontline of the COVID-19 crisis showed a caring attitude at a time when tourism and business travel were impossible.
4. Virtual Events are Here to Stay
Remote work and video meetings were the key trends of 2020 and the first half of 2021. Workers have voted with their feet to show the employers they no longer need to be tied to an office to work effectively. The decision to suspend business travel showed most employees do not need to be on the road to remain in contact with their clients. The marketing industry has seen similar results with the switch to virtual events. Brands have reached more consumers by switching to virtual events and expanding their audience away from a traditional few attendees. Fashion brands have seen audience numbers skyrocket for virtual shows and launch events.
5. User-Generated-Content
There are numerous ways a brand can interact with its followers, including allowing users to generate content. There are inherent risks associated with fan and customer-generated content, but success stories are seen every day. The use of User-Generated-Content has become a successful marketing option for brands, celebrities, and filmmakers. UGC is a powerful tool when handled correctly, fan-made art and fiction have been a part of mainstream artistic projects for decades. Only now are the world's largest brands allowing consumers to provide content for their social media platforms. The switch to social media is leading to a democratization of the marketing sector.
6. Protecting the Environment
The environment has become a talking point between brands and their customers. Millennials and members of Generation Z are ecologically aware and want brands to reflect their own interests in the environment. A 2020 study showed 81-percent of consumers hoped their favorite brands were playing a role in protecting the environment. marketing strategies will move towards explaining how a company is working efficiently to protect the environment.
Bennet Schwartz believes the shift towards ecologically aware brands will continue to become more pronounced in the 21st-century as the move away from fossil fuels picks up the pace.
Wrap Up
Several marketing trends are becoming important to the future of the planet and individual brands. The impact of social media platforms is being seen in the way millions of people are interacting with brands and influencers. Schwartz believes an active engagement between a brand and its followers is essential to show a company is moving forward with a modern approach to its customers.