Investment in digital marketing is substantially increasing every year. To be specific, the budget for digital marketing can be expected to reach $146 billion by 2023. According to Smart Insights, in 2019, 15.1% of the marketers agree that content marketing is the top marketing technique that can fuel all digital channels from search, emails and social media marketing, followed by artificial intelligence & machine learning, also stays at 15.1%. This article will offer you insights from experienced professionals about digital marketing. These experts share various theoretical and practical knowledge that enable the readers to consolidate the possibility of growth of digital marketing in the future.
How do you see digital marketing evolving in the present and in the future?
Frank Ravanelli, Head of Affiliates, Asia & EMEA, Foreo - the world's leading beauty-tech brand:
Digital will keep being mobile-driven, both in terms of activities performed on the mobile screen and other activities performed on devices connected to the mobile. This will keep affecting the scope of the user-interface and the attention span of consumers. Artificial Intelligence (AI) solutions that offer a transparent way to customize one's digital experience, within the privacy options selected by the user, will be pivotal.
Manisha Seewal, Group Chief Marketing Officer of Carro, an automotive marketplace offering service for car owners:
Today’s consumers are spoilt for choice with the wide array of products and services available out there; however, this has made it much harder for them to narrow down their choices to make more informed purchasing decisions.
The next 5 years will offer more sophisticated and wider-reaching online marketplaces. What this means for marketers is that they need to step up their engagement efforts by deconstructing their strategies to appeal to customers based on their personalised needs. To illustrate, a study by the Harris Poll in November 2018 found that more internet users worldwide will be using more subscription services over the next few years. Narrowing it down to Singapore, 38% of those polled said that they’d be keen on using such services. The launch of our subscription services. Therefore has very much to do with what digital consumers today want: flexibility, convenience and low commitment.
Claudia Choi, Head of Brand Management of HKR International, a Hong Kong based property developer with 40 years of history in real estate investment, luxury hotels and healthcare services across Asia:
Digital technologies are evolving so quickly and changing so fast. It is hard to predict what will happen next month or next year, let alone in the next five years. However, there are a few things that I definitely think will have an impact on digital marketing. For instance, with the growth of 5G, artificial intelligence (AI), big data, speech/facial recognition and wearable devices, consumers will become much more dependent on digital technologies. At the same time, this explosion in data means that their lives will become much more transparent to digital marketing professionals. Accordingly, digital marketing will inevitably penetrate into most, if not all, touchpoints in the shopping experience and purchasing decisions.
Phil Ingram, VP, Marketing, Remote Lands – an ultra-luxe bespoke travel designer focused exclusively on Asia:
It’s all about the data – personalisation through automation. Also, really integrating your entire marketing stack for consistency across all the touchpoints is important.
Sakhee Dheer, Head of Digital Marketing, Global Business Marketing at Asia Pacific at Facebook:
A lot of what digital has come to be today wasn’t around five years back, so five years is a long time in which things , as we know now can completely change. The function is clearly evolving at a very fast pace whether it be the use of data, the use of technology and new trends like AI, blockchain, and virtual reality. All play a key role in how the next five years could evolve and look like. At this point, it's really interesting to see the journey. As marketers, and as business people, it's our responsibility to keep evolving, learning and reading change as part of the journey and understanding what is new, what are the new formats and channels of reaching out to customers to drive impact for our organizations. I don’t have a road map for digital marketing but what we know of the current marketplace is that it'll be very, very different. We will definitely be using a lot more data and a lot more personalisation, whether it be using technology like bots, AI or VR. Also, there'll be many more digital marketers in the whole ecosystem of business. It will become just marketing in the digital world.