The Next Decade Of Marketing: Change Will Be The Only Constant
As Bob Dylan famously said, “the times they are a-changing”. And according to HubSpot CMO Kipp Bodnar [feature image], the change is only starting.
2020 marks the start of a new decade, and what a turbulent start it has been. As the world grapples with a serious health crisis, none of us are sure what the other side will look like. The best we can do is support each other to learn about and adapt to our “new normal.”
One thing we are sure of, is that buyers have changed dramatically in the last 10 years, and while we can’t predict what will happen next, we know that even more change is coming.
For marketers, this means learning how to reach buyers in a fast-changing world. Earlier this year, we surveyed 3,400 marketers on their strategies, successes, and where they’re looking next. We hope that these findings are useful to understand the change that’s ahead of us all.
The changing nature of disruption
It was just a decade ago that social media platforms were starting to gain traction, and now they’re a foundational part of our daily lives, and an essential aspect of almost every marketing strategy. A lot has changed in ten years, including the businesses you’re competing with.
Today, the competitive landscape is more fierce than ever — there are countless disruptions happening across every industry. Ten years ago, businesses won by selling a product 10 times better than the competition. Today, businesses win and lose because of their customer experience, and the incumbents are getting taken down by companies who provide a better experience from end to end.
These companies represent a new breed of growth leader that gets ahead by completely disrupting and reinventing the treatment we’ve come to expect out of companies as consumers. At HubSpot, we refer to them as experience disruptors, and I think Australia has produced some excellent examples of these companies, with Canva being one of the best. I predict that these companies will stand even firmer in today’s climate of uncertainty.
Marketers should be the architects of customer experience
As marketers, every touchpoint we have with buyers is an opportunity to impress. But to do this, businesses need marketing strategies that support the entire customer lifecycle.
Increasingly vocal buyers, easily replicable products, and eroding trust in businesses mean that a delighted customer base is more influential in driving growth than any marketer or salesperson. But too often we see businesses focusing on customer acquisition at the expense of retention — but this strategy will see you miss out on a huge growth opportunity.
It’s here that rich attribution reporting can support you. Ten years ago, closed-loop reporting was impossible for many marketers. Today, rich attribution is available to all, but is not quite yet the norm. Currently, only 52 per cent of marketers use some form of attribution reporting.
Marketers are facing a technology barrier, but that’s starting to change
Rich attribution enables marketers to make better business decisions. One of the most important metrics to track is the return on investment of marketing activities. Only 35 per cent of our respondents replied that it is “very important” or “extremely important” to understand the ROI of any given campaign.
That’s low, but I don’t think the outstanding 65 per cent is avoiding it. They’re facing a technology barrier that’s preventing them from measuring their work. Most software that’s built for marketers isn’t quite powerful enough to capture this, and the software that is sophisticated enough requires heavy IT or developer support. But this is starting to change, allowing more marketers to access the insights rich attribution affords, but within a simple user interface that’s easy to learn.
How the current health crisis might shape our future
Now, I can’t end this piece without addressing a question that’s top of mind for lots of marketing leaders at the moment: how will the current global health crisis we’re experiencing shape our profession in 2020 and beyond? I’ll share my early thoughts on what I think we might see happen, all of which are up for discussion and debate.
1. Doing business online will go from being a good idea to a requirement
I believe this will be especially true for companies who are yet to prioritise this, and are unfortunately feeling the effects of not being set up for doing business online right now. I think we will see every business over the next few years adopting online tools like CRM, payments, document signing, etc. That means in-house marketers and agencies alike will need to become more technically-minded in order to orchestrate these customer experiences.
2. Remote work will become a 1st class citizen
People will realise they can leverage technology to transform how they work and live and this will set off a decade long transformation. For marketers, as a profession our jobs lend themselves to remote work better than most. I expect to see a rise in the amount of open marketing positions where remote work is encouraged, and I think this will happen sooner rather than later.
3. Humans will be kinder to each other
I sincerely hope this prediction is correct, and that we come out of this with greater empathy for each other. I hope we see this effect in business too, in the form of more companies doing the right thing by their customers and employees, even when it’s hard.
As we enter the next decade of marketing, only one thing is certain: more change is coming for our profession. We’ll all need to be adaptable, resilient, and stay laser-focused on the customer experience to succeed.
Latest News
EMG/Gravity Media Names New Managing Director
The makers of Australia's Got Talent has been a magnet for senior hires in recent times.
Opinion: Shark Tank’s Sabri Suby Slams Politicians Jumping On TikTok Ban Bandwagon
Are politicians actually scaremongering about TikTok or just fed up of you doom-scrolling in the work bogs?
TV Ratings: “Ivana Was Robbed” – Final Three Contestants Revealed On Australian Idol
B&T's unsure if these Idol contestants look extra young or whether we are as old as we feel.
Veridooh Snatches Prashand Menon From ScentreGroup
Out-of-home OOH) and digital media leader Prashand Menon (lead image) has joined OOH ad tech company Veridooh as group business director within NSW and QLD. Menon joins Veridooh from his most recent role as ScentreGroup’s group business director and brings with him more than 10 years of experience in Australian media. Previously, he held positions […]
Creative Content Studio OK COOL Answers APAC’s Call, Opening In Melbourne
Life set to get extra confusing for new agency staffers mistaking OK COOL for a pass-ag housemate text message.
Harry’s Cafe de Wheels & Hipages Launch New Pie To Fuel Tradies While On The Tools
The pies should apparently be better for tradies' health, apparently but won't be better for on-site ribbing.
Women Leading Tech’s Woman Of The Year Megan Dalla-Camina: What’s The True Cost Of Cutting DEI Spending?
Cutting DE&I spending might seem easy but you might change your mind when faced with Dalla-Camina's ire.
Thrive Introduces A Batch Of New Senior Leadership Roles
You could say that Thrive is set to thrive with these new hires. But that would be too obvious.
It’s Coming Home! Sponsors Make Subbuteo World Cup Finals Free
No idea what Subbuteo is? You clearly had a more exciting childhood than our editorial team.
Media Bigwigs Bet On Predictive Intelligence Platform Prophet In $5M Seed Funding
Prophet, profit, geddit? Must be laugh-a-minute in this startup's office.
CommsDeclare Brands Shell Energy An “Olympic Gaslighter” & Urges Agencies Not To Pitch For Creative Account
And we thought the gaslight Olympics took place in the Coogee Bay Hotel smoking area!
AFL Wins Battle With Warner Bros. As New AFL Team Is Revealed
There hasn't been this much wrangling over a cartoon animal since, well, ever!
BBC Podcasts Go Global With Amazon Music
Ironically, BBC podcasts unlikely to be available in the Amazon given the lack of signal.
Johnson & Johnson’s Former Consumer Healthcare Arm Reviews Creative
J&J inspired by Scottish term for knowledge 'ken' in its rebrand; nothing says 'wise' like a shot of Listerine.
Kat & Co Transforms Into THE WORLD OF Experiential Agency
After more than twelve years of producing experiences for some of the world’s most innovative brands, including Hermes, Van Cleef & Arpels, Louis Vuitton, and Tiffany & Co, Kat & Co has quietly metamorphosed into THE WORLD OF. THE WORLD OF is an experiential agency at the juncture of culture, technology and the human condition. […]
Adobe Brings Firefly Generative AI Into Substance 3D Workflows
Still unclear of what generative AI actually is? Steer clear of this story.
Clemenger BBDO Introduces Saucy Campaign With Declan Cleary & Lee Kum Kee
When we heard this was a saucy campaign, we thought it be the barbecue and ketchup showdown we'd been waiting for.
Gawk Acquires 40 Billboard Locations From Transad
Gawk makes it move out of VIC into NSW with acquisition. Has promised to stop going on about Melbourne nightlife.
All About Attribution: Commission Factory Releases New eBook
Ever wanted to dive deep into channel attribution? Consider this the perfect springboard.
SMG Studio Launches Risk: Global Domination X Dune Part Two
Through a licensing agreement with Legendary Entertainment, SMG Studio inked the rights to adapt Dune: Part Two into a game based on Risk: Global Domination, Hasbro’s interactive board game. Inspired by Denis Villeneuve’s cinematic masterpiece, Dune: Part Two, this new digital adaptation, RISK: Global Domination X Dune: Part Two, is poised to captivate players from […]
RMIT Study Reveals That 73% Of Employees Don’t Believe Gen AI Is Relevant
Noticing staff switching off when you tell them about gen AI? Understand why here.
Australian Eggs Launches Egg-citing New Campaign Via Connecting Plots
How do you like your eggs in the morning? We usually skip them and go straight for the darts and whisky.
Future Lions 2024 Invites Young People To Be Heard With Spotify
Future Lions, of course, is the AKQA-backed student initiative at Cannes Lions, not a feeder for the rugby team.
QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market
Taylor Swift, Lunar New Year and the Sydney Gay and Lesbian Mardi Gras Festival have had a dramatic impact on the number of people moving in and around Sydney over the past month, drawing big crowds into the heart of the city and its surrounding suburbs. New data from digital outdoor company QMS reveals a […]
Legend John McEnroe Joins Pepperstone’s Team Of Global Tennis Ambassadors
Despite the deal, McEnroe remains confused about difference between above- and below-the-line marketing.
LinkedIn Launches New Thought Leader Ads For Companies To Promote Member Posts
Though LinkedIn couldn't get any more insufferable? You thought wrong.
Latrell Mitchell Smacked On Wrist After Dropping Multiple F-Bombs In Post-Match Triple M Interview
Andrew Abdo has confirmed he is not angry... just disappointed.
TV Ratings: “When You Do Love Yourself, You’re Amazing” – Is This MAFS Most Heart-breaking Split?
Hold the press. MAFS groom and bride actually shown to be nice people.
Opinion: The Only Drag Marketers Should Be Worried About
Thought Transactional Drag was a lifeless club night in Newtown? Read this and you'll think again.
AWARD School Welcomes Class Of 2024
It's best to think of AWARD School like Survivor but with pitch decks instead of swimwear.
Interest In Motorsports Reaches New Heights As Formula 1 Grand Prix Revenue Expected To Surpass $100 Million
Need to get a dull sports client some quick results? Rustle up a Netflix series and watch the dollars roll in.
Chair Rob Murray To Depart As SCA Considers ARN’s Latest Takeover Bid
Struggling to make heads or tails of the SCA & ARN saga? Add this to your woes.
Adland Legend John Singleton Separates From Seventh Wife
Singo calls it quits with seventh wife as his race with Rupert Murdoch to become the most-married man continues.
ACCC Eyes Search Competition, Citing ‘Decreasing’ Quality & Rise In Generative AI
The only decline in search quality we notice is when B&T doesn't appear at the top of Google.
“Imagine A Career Above The Clouds”: Royal Australian Air Force Launches New Campaign Via VML
Don't worry about the forthcoming war with China - at least you'll get a bird's-eye view of the apocalypse.
MKTG Launches PR & Talent Division Realigning Business Structure
Dentsu‘s MKTG Sports and Entertainment has unveiled a significant evolution, including the launch of a specialised PR and Talent Marketing division, investment in expanding its Creative Services group, and a centralised approach to brand and rights holder servicing with increased production capabilities and a strengthened in-stadium sports presentation team. Lead Image: MKTG CD Ross Allen; […]