AirTank's 2022 Digital Marketing Predictions
Well 2021 to me feels like a blur. I’m losing track of when I saw people last, or general tracking of time and events overall. That being said, I can still read a calendar and I know the year is winding down. That means it’s time for predictions. Here are our top 3 predictions for 2022 in digital marketing. - Jason Tabeling, AirTank CEO
1. Brands look to other channels to diversify their sales
As proof of this the brand Lush pulled their accounts off of Facebook, Instagram, Twitter, and TikTok sighting their core values as a brand stating, “If the platform is damaging mental health, so by putting your content into it, you’re fueling the problem,” Jack Constantine, chief digital officer and product inventor at Lush, told Adweek, noting that the findings are particularly at odds with the bath bomb purveyor’s mission of helping people relax and attend to their well-being.
This may seem like an extreme event for many brands, but between the way data is gathered and used, the government antitrust issues, and consumer trust of the platform (Hint: Last) it only makes sense to ensure you have beachheads in other platforms to provide reach and engagement with your brand. Options like Pinterest, SnapChat, TikTok, and even your own brand websites will grow in 2022 as core tenants in your marketing plan.
2. Brands look for ways to reduce friction for consumers and stay engaged beyond a single transaction.
Here is a quick stat to think about, subscription businesses’ revenues skyrocketed more than 300% from 2012 to 2018, five times faster than revenues of S&P 500 companies, per McKinsey. That hasn’t slowed down. Brands are looking for ways to be less transactional and have a longer engaging relationship with a customer. This is a reason why you have seen multi-payment platforms like Klarna (who just hit 20 million customers) and Affirm grow so quickly in 2021. It’s a way to lower the barrier of purchase, and stay engaged with the consumer. Metrics like lifetime value, cart to checkout rate will become more and more important as key performance indicators (KPIs) for brands.
3. Brands will use more Machine Learning (if they know it or not)
In 2021 alone, Gartner projects AI augmentation will create $2.9 trillion of business value, and 6.2 billion hours of worker productivity globally. A real example would be Google recently rolling out their “Performance Max” campaigns. This campaign type is the next iteration of smart campaigns. Provide the goals and let Google’s algorithms run wild across it’s platforms (including YouTube). Many marketers might opt into this campaign type and not even know that they are using Machine Learning. There are several other low barrier to entry Machine Learning tools that will become more common place in places like content generation (Copy.ai), fraud detection (Kount), and marketing automation campaigns (Marketo). These are just a few examples.
The great part about digital marketing is the rapid pace of change and acceleration. These predictions are just the tip of the iceberg and we at AirTank can’t wait to partner with our customers to deliver great results while riding these trends.
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