The year 2020 is upon us and more importantly the ushering in of a new decade. The coming of a new year naturally lends itself to introspection for brands and companies and from us at The CMO, we have come up with predictions of where we see the market going. Our predictions and trends for 2020 have also been curated from authority leaders like Milward Brown, Media Post among other sources so we provide a balanced perspective that aligns with global trends. In this same piece, we have included our wish list J
Time for Experiential Marketing to take off
The marketing search libraries on the internet are littered with various case studies of brands that have implemented successful experiential marketing campaigns over the years notably from Pepsi and Coca Cola. This year it is our wish to see more experiential marketing campaigns take place. The emergence of digital media has opened numerous opportunities for brands to leverage technology to create unique brand experiences. Our neighbors down south have malls, shopping brands and others who have harnessed technology to take customer experiences to another level. The infrastructure is there for our local brands to take the bold step and use new technologies such as AI, AR, VR for experiential marketing purposes.
Time to Measure Influencer Marketing
Last year we wrote extensively about the strategic role of influencer marketing under the banner celebrity endorsement. According to Coolio Yang, the use of influencers has inherent risks in: inappropriate endorsements, lack of transparency and fake followers and all that damages the credibility of the influencers and the brands that use them, not to mention the trust of their followers. Whilst risks are part of the package, there are also big opportunities for influencer marketing to prove its worth in 2020. The DIMENSION 2019 study shows that people’s opinion of brands is particularly influenced by user-generated content and other consumer or expert content found on the internet. Marketers will, therefore, seek to work with talented content creators, who know how to bring brands into their community in a genuine and authentic manner. The latest BrandZ report says that what matters is depth of engagement with an online influencer, not just the size of the fan base.
Brands Take a Stand: The battle for attention
Brand activism can be defined as a radical reformist stance taken by brands to create change or improvements in society. Over the last year or so we’ve seen Nike take a stand on racial injustice, Burger King on bullying, and Gillette on masculinity. While there are risks, there can be a positive business impact; Nike recorded a sales increase of more than US$6bn after launching its Dream Crazy ad, showing that consumers are willing to reward brands that share their values. This is consistent with our recent series on brands with a purpose where we challenged brands to identify and stand for a cause or purpose. We hope to see many more brands take a deliberate stance and to be purposeful in their approach.