2017 is set to be a big year for business, as long as businesses take full advantage of the opportunities that are presented to them. Chief Marketing Officers (CMOs) must be aware of marketing predictions for the coming year, so that they can use these insights to develop real strategies that work. The following predictions for marketing in 2017 have been gathered from top CMO's at global corporations.
Big Data Becomes Standard
Companies will have to continue to utilise big data if they wish to succeed. Selling and buying anonymised data will also become big business in itself. As a general rule, companies should try to utilise any big data that they are able to collect. Gathering and using large amounts of data allows companies to understand microscopic shifts in the market. Using big data to understand market trends means that companies are able to adapt their products and services to meet the needs of the market.
Targeted Digital Content
The use of targeted digital content will become more important than ever, as companies start to understand more about consumer digital behaviour. Not only will customers be targeted with adverts for the products that they like, but it will also be possible to avoid showing them the type of adverts that will turn them off. This should help to vastly improve the conversion rating for marketing efforts, meaning that return-on-investment can be greatly improved.
Data Security in Question
Even though marketing trends for 2017 require companies to make use of big data and digital content analysis, companies will be expected to prove that they can use data responsibly. CMO's will have to work closely with Data protection Officers to ensure that all of the data which is being used within the EU meets the new General Data Protection Regulations. The safest way to continue to work with data is to make sure that all of the data that is used by our company is anonymised. Using data which contains personal information or information of a sensitive nature for marketing purposes should generally be avoided to reduce the chances of falling foul of legislation.