Marketing Trends for the Future
Posted by Patrick Murphy on Wed, Mar 23, 2011
This week we are looking at a recent Econsultancy report, which outlined the trends in the media, information, marketing services and technology sectors for the coming years.
All in all the prospects for these sectors is positive with an emphasis on market growth, product and services innovations and company expansions. Right now, all businesses have an eye on the rapidly growing Asian market and the massive opportunities coming from that part of the world.
The respondents, who included 500 top-level marketing executives based in the US and western Europe identified a number of key trends that are affecting companies today. They include:
- The rise of data and how best to use it
- The use of multiple devices / platforms (smart phones, tablet computers, Internet, mobile, computers).
- The rise of social networks and their impact on marketing
- The ability of users to access low cost and free data, content and information
- The difficulty for marketers to target audiences due to fragmentation
- Global expansion / globalization of markets
- The outsourcing of staff / services
Of these trends, marketers see the greatest challenge coming from the proliferation of devices and platforms. 54 percent of survey respondents expect this factor to shape market performance for the next 3 to 5 years.
41 percent have a sharp eye on the development of social media for the next 3 to 5 years. The concern here is that although there is no question that social media will provide significant market opportunities, how those opportunities can be leveraged and turned into viable revenue streams remains to be seen.
Although market fragmentation and the availability of low cost / free product alternatives are a serious concern at the moment, marketers expect these factors to diminish in importance in the next 3 to 5 years as the market levels out.
Tying into the huge opportunities presented by the Asian market, marketers, across the board, are optimistic about the future of global expansion.
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