The marketing world is a dynamic, ever-evolving landscape. Staying ahead of the curve is essential for success. Let’s take a deep dive into some of the key insights and trends that emerged during the recent CMO EU Digital Summit hosted by GDS Group. Marketing experts and leaders gathered to discuss the latest developments in the industry from artificial intelligence’s (AI’s) limitless potential to the power of personalisation and the value of building strong communities.
AI: Limitless potential or limitless risk?
The event kicked off with a lively debate on the potential and risks associated with AI. Manish Kataria, Head of Wholesale Operations & B2B eCommerce at Esprit and Lina-Maria Perdomo, Global Head, Content Marketing at Schneider Electric shared their viewpoints for both sides of the argument and managed to change 9% of the audience’s minds about the potential and risks of AI. This underscores the importance of informed and open discussions in a world where AI is reshaping marketing.
Behold the power of personalisation
Personalisation in marketing is no longer a luxury but a necessity. We learnt that research by PwC found that 83% of CMOs have invested in tools and technology to support personalisation but only 27% are able to say personalisation at scale is well established in their organization.
The event’s closing panel spoke about the significance of personalisation and the role of data in making it happen. Successful personalisation requires creative and disciplined first-party data collection, along with investments in infrastructure to aggregate this data. The future lies in predicting what customers need, sometimes even before they realise it, but it’s crucial to find the right balance between delight and invasiveness.
Video is key
The event emphasised the importance of video in marketing. Research by Hubspot found that 27% of marketers say creating engaging content was a challenge and 23% struggled with finding new content ideas.
Further to this, our attention spans are diminishing. So making short, engaging videos an essential tool. And research by Insivia said viewers claim they retain 95% of a message when obtained via video. Whether this is true or not, we need to adapt to this changing landscape, creating content that is not only informative but captivating.
In a world where trust and loyalty are invaluable in the realm of marketing, the power of community cannot be understated. A recent study by LoyaltyLion revealed a staggering statistic, 47% of consumers express a willingness to become loyal to a brand if they feel a sense of belonging within a like-minded community. This highlights the incredible potential for brands to foster loyalty by creating spaces where customers can connect with one another.
Moreover, community-building dovetails seamlessly into the theme of content strategy. The 2022 State of User Generated Content report delivered an eye-opening finding. An overwhelming 72% of consumers place more trust in reviews and testimonials submitted by their peers than in a brand’s self-promotion. The upshot? In today’s marketing landscape, unlocking consumer trust is a two-fold strategy, embracing “earned media” while concurrently nurturing a community of consumers who resonate with your brand. As senior marketing executives, this insight underscores the immense value of community engagement and user-generated content in fostering trust and brand loyalty.
Don’t forget the importance of your people
One of the recurring themes throughout the event was the significance of the human element in marketing. Building the right culture for your teams, providing growth opportunities, and allowing them to work on exciting projects is essential. The event highlighted the value that marketing leaders place on their teams and the pivotal role they play in driving success.
The future of marketing
The event’s discussions provided invaluable insights into the future of marketing. By 2025, a significant shift is expected in marketing messages, with 30% being synthetically generated, a remarkable leap from less than 2% in 2022. Furthermore, organisations that integrate AI into their marketing strategies are poised to shift 75% of their operational activities from production to more strategic tasks. The future holds exciting possibilities for those who embrace change.
Intriguingly, a Harris Poll and LEGO survey revealed that today’s children are three times more likely to aspire to be YouTubers than astronauts. As marketing professionals, we must adapt to this changing landscape and prepare for the evolving aspirations of future generations.
And while it’s easy to get lost in a sea of data points and metrics, the event’s speakers stressed the importance of staying close to consumers. Understanding their needs and preferences is key. In an age of data-driven marketing, the human element remains irreplaceable.
The marketing landscape is in constant flux and staying at the forefront of industry trends is essential for success. As marketing executives, we must embrace the power of AI, harness the potential of personalisation, and focus on building strong communities to connect with customers and employees. The future holds tremendous promise and those who adapt and innovate will be well-positioned for success.