What will your branding strategy look like next year or five years from now?
Ensuring that the brand remains relevant to consumers is a priority. However, given the speed at which consumer trends and preferences change, it’s hard to know which axis to invest in! Preparing the future of so many unknowns is not an easy job.
On December 11, marketing and digital communications professionals gathered at Socialize Madrid organized by Digimind to learn how social media intelligence can alleviate this difficulty of anticipation and help businesses make better decisions.
An evening of learning, networking where presentations focused on the impact of key trends and innovations in marketing strategies and on how companies can cultivate innovation in all departments for the future.
Here we share some of the lessons of the evening.
From big data to smart data
According to the We Are Social Digital 2019 report, the number of active social media users was 3.48 billion in 2019. To fully understand those billions of social media users’ desires, you do need to consider where they are coming from. Andrés Chihuailaf of Digimind explained how social media listening allows you to focus on a specific data set to understand consumer perception, identify market segments and detect channels with an engaged audience.
“A good customer marketing strategy is one that generates experiences that meet needs , surprise and delight the consumer.” While social media platforms have and will continue to play a fundamental role in the purchasing decision of consumers, brands can anticipate user or market demands, analyzing trends in conversations in the digital environment.
One way to anticipate these needs is to analyze historical data , as this allows you to understand “what key issues are already in conversation and what people are already saying about the brand”. Andrés pointed out that this analysis not only allows a brand to move forward with a campaign, but also to bounce back from market gaps, improve innovation and product strategy and be aware of its competitors.
New methods of market research
Álvaro Carmona, Insights & Analytics Specialist at Sony Music, highlighted how new generations and accelerating development in technology are giving us tools that allow us to conduct research where just a few years ago it was unimaginable.
In less than 20 years, the thinking and behavior of the new generations have changed. Generations such as Alpha * or Generation T (like tablet), 100% digital natives, do not know an analog way of life, are impatient, raised under the rule of “touch and pass”, where technology is a real extension to know the world, explains Alvaro.
More than 2.5 million Alpha’s are born every week and it is estimated that by 2025 they will grow to over 2 billion. Understanding their behavior is a determining factor in the success of companies, this is where market research comes in, which must combine different methods such as quantitative (statistical analysis), qualitative (observation of behavior and conduct ) and neuromarketing (access to the consumer’s subconscious information) integrating new techniques for analyzing the digital environment such as listening to social media.
A triangulation of these different methods generates more reliable results by allowing the information to be contrasted with different approaches. This information can be transmitted within the Big Data structure of the company (if available) via an API or is “simply” crossed with other variables depending on the objective or the sector.
“It’s not just about having the tools and technology at our fingertips, but the right approach to move us from social media listening to social media intelligence,” Álvaro explains.
Álvaro Carmona ended his presentation by evoking some of the challenges faced by digital specialists, extrapolated to different industries, beyond the entertainment sector, namely:
- Data integration and equivalence
- Detection of consumption trends
- Understanding future generations
- Adapting new consumption channels and formats
Key trends and innovations
The event brought together a panel, made up of Idoia Septien, Marketing Manager at IE Exponential Learning, Alberto Martín, Digital Manager at BS Social Media and Alvaro Carmona of Sony Music, who also spoke about key trends including brands should benefit for their marketing and customer engagement strategies in 2020.
Hyper personalization
Idoia Septien, explained that 35% of consumers who have not planned to purchase, if they receive personalized content, ultimately have a chance of making the purchase. Buying takes a lot of preparation in an industry like education and the cycle is long, therefor it is so important to focus on customizing strategies to entice and draw customers and eventually improve performance.
Video, live streaming
Video will continue to be a major protagonist in 2020, being a very easy to consume format. New generations increasingly demand short and visual content, explained Alberto Martín. Alvaro Carmona said that the success of a format (like video or podcasts) will depend on its capability to adapt to the requirements of the multitasking consumer. Idoia added that live video will continue to grow. Streaming is already a relevant option accessible to all, which brings the immediacy of Live, much appreciated by consumers.
New technologies: AR, VR and AI
The best way to integrate new technologies correspond to 2 axes: through leisure and play and through the devices that the user already has. The key is not to hinder or complicate the consumer, commented Alberto Martín.
Idoia added that it is very important that active listening be done on how all these technological developments affect or help potential customers in terms of adaptation by brands in their strategies so as not to appear intrusive or persecuting.
The “professional 4.0”
The three panelists agreed that the professional 4.0 should be able to adapt to not only technological but also organizational changes which tend more and more towards horizontal structures. There is a lot of specialization in digital, but speakers stressed the importance of collaboration between teams to achieve common goals. The professional of the future is not the one with the most technical skills but the one who is motivated by his curiosity, his enthusiasm and his passion for what he does.
In general, with trends coming and going, having access to relevant market research and consumer data is essential for developing marketing efforts that resonate and match the changing needs of the audience. A social media listening tool that integrates with existing software will ensure that the data collected is not kept in silos and that your business can access market trends and consumer insights in real time.
DIGITOLOGY 