Move over social media v1.0. It’s time to shift your focus to the new kids on the block in the digital marketing landscape!
Over the past decade, social media has turned into a gold mine and mainstay for many businesses. Today, new digital innovation strategies are evolving at lightning speed, and quickly becoming a hot topic for many SMEs. For your business to stay relevant, it’s imperative for you to stay abreast with the trends and refine your strategies for an improved overall customer experience and functionality.
Here are 3 secrets that you may consider leveraging into your existing digital innovation strategy.
1. Artificial Intelligence (AI)
AI is no longer a dream of the future. Have you noticed? While shopping on Shopee or browsing YouTube, suggested content is usually made up of things that you have an interest in. That’s right! We’re already seeing some revolutionary AI usage by companies such as Amazon, Spotify and Netflix. For example, Amazon has built-in AI features to showcase only relevant products to shoppers, filter is based on their past searches, purchases and session views. This will result in a higher likelihood of shoppers to be turning into buyers and consequently, into repeat customers.
AI analysis is has already been integrated in our digital marketing world, and it is frighteningly good at its job. Due to its ability to accurately analyze customer behavior and tailor content for a more interactive and personalized experience, AI is fast becoming a norm for big enterprises and SMEs alike.
1.2. Digital Personal Assistants
An extremely notable use of AI is the emergence of digital personal assistants.
“Alexa, what’s on my schedule today?”
Devices such as Alexa and Google Assistant are examples of AI-driven personal digital assistants which have been purposed to simplify our personal and business lives. Consider integrating personal digital assistants in your own business strategy to improve your productivity as a business owner.
Chatbots are another revolutionary piece of technology that improves both the customer’s experience, as well as the productivity of their operators. Often, many businesses encounter repeated queries of questions that essentially have the same answer. Through AI driven natural language processing, many chatbots are able to answer these queries almost immediately, granting an enhanced user experience for the customer. Should a more human touch be needed, chatbots can be programmed to refer unfamiliar questions to human operators. With less time wasted answering mindless questions, business productivity also increases. Talk about killing 2 birds with one stone!
2. Blockchain Technology
While blockchain technology is still in its infancy, there exists a lot of potential for this technology to serve as the basis of fraud prevention and ensuring security within customer transactions. It might be worthwhile for you to explore blockchain technology if you’re into the B2B space with higher volume of customer transactions.
3. Mobile social commerce
Picture this scenario:
As your customer scrolls through their social feed, they discover your product, their interest piqued. They click on the call-to-action (CTA) button and your brand’s mobile website emerges for their perusal. That’s an additional step and barrier (albeit a small one) towards converting your customer into a buyer at that moment of intent – by then, their interest may have faded lost interest.
Fewer clicks = higher sales
This is where mobile social commerce comes into play. The central idea is to make the purchasing process as simple, and quick as possible. An example would be Amazon’s one-click buy now button on your social media networks. A far more streamlined strategy. You don’t even need to leave the app to make your purchase!
For SMEs who’re looking to optimize your mobile social shopping experiences or find new ways to increase sales, you may work towards this goal by offering your customers the ability to see tagged products with a price and allow them to buy directly from the app itself – in other words you’re leveraging on social checkout features such as adding a ‘Buy Now’ call-to-action button, driving customers directly to a purchase page.
The 2020 digital marketing arena is poised for an upward explosion in user growth. SMEs need to figure out quickly how to keep themselves visible, stay competitive and consistently engage their customers, drawing them into their marketing funnel.