Connect with us

MARKETING

33 Emerging Technology Stats to Know in 2022

Published

on

33 Emerging Technology Stats to Know in 2022

Many major emerging technologies in artificial and virtual reality are becoming more accessible, but are they worth investing in? 

In this post, I’ve gathered TK stats related to emerging technologies and the impacts and potential impacts they can have on marketing and marketers in the near future. 

Augmented and Virtual Reality

For years, researchers have said that virtual reality, which gives viewers an immersive and interactive 360-degree virtual experience, will hold the best opportunities for gaming, entertainment, and academic industries.

Experts have also thought that augmented reality, a partially immersive but still interactive experience, will thrive in the world of branding and marketing.

We have already seen some of these predictions come true, but both still have significant potential. Here are 16 stats that demonstrate the growth and opportunities of AR and VR.

  • Consumer and enterprise virtual reality market revenue is expected to reach $6.71 billion by the end of 2022 and $12.9 billion by 2024. (Statista)
  • Augmented reality, virtual reality, and mixed reality market size worldwide is expected to jump by more than 220 billion USD between 2021 and 2028. (Statista)
  • 101.6 million people in the US will use AR in 2022. (eMarketer)
  • 39% of media planners who use NFTs say they have the best ROI of any channel in their media mix. (HubSpot Blog)
  • In a recent study, 33% of survey respondents understand the concept of the metaverse, 37% have heard of it but aren’t sure what it means, and 30% aren’t sure at all. (GlobalWebIndex)
  • Over half of consumers are interested in participating in the metaverse, and 1 in 3 who haven’t heard of it still say they want to be involved.(GlobalWebIndex)
  • It’s estimated that, by the end of 2022, virtual reality hardware and software sales will generate more than 6.4 billion USD in revenue. (Statista)
  • 54% of people visit the metaverse to play games, 46% visit to virtually hang out with online friends, and 43% visit to virtually hang out with in-person friends. (HubSpot Blog)
  • 36% of consumers interested in participating in the metaverse worry about how companies will use their personal data online. (GlobalWebIndex)
  • Over the next five years, Gartner predicts that one in four people will spend at least one hour per day in the metaverse. (Gartner)
  • Over the next five years, 30% of businesses will have some sort of product or service available in the metaverse. (Gartner)
  • Over 1 in 5 people aged 24-54 are invested in crypto. (HubSpot Blog)
  • People ages 18-24 are likely to buy NFTs to join a community. (HubSpot Blog)
  • Deloitte’s 2021 Global Blockchain Survey found that 80% of participants say their industries will see new revenue streams from blockchain, digital assets, and/or cryptocurrency solutions. (Deloitte)
  • Over 250 million Snapchatters use an AR feature on the app every single day. (Modern Retail)
  • Creators on Snapchat have built over 2.5 million AR Lenses. (Modern Retail)

Artificial Intelligence

Artificial intelligence is so prevalent in 2022 that many of us don’t even notice all the ways we interact with iton a given day. If you’re less familiar with AI, here are eight stats to keep in mind:

  • Gartner forecasts that the worldwide artificial intelligence software market will reach $62 billion by the end of 2022. (Gartner)
  • The business value of AI will reach $5.1 billion by 2025. (Gartner)
  • 52% of marketers prioritize implementing marketing automation platforms to enhance their marketing efforts. (Demand Gen Report)
  • 17% of marketers currently use automation or artificial intelligence as part of their marketing strategy. (HubSpot Blog)
  • 1 in 5 consumers uses live chat or in-app chat daily. (Vonage)
  • 71% of consumers say they would be happy to use a chatbot if it meant an improved customer experience. (Conversocial)
  • A Drift survey reported that 54.8% of B2B professionals across various industries say they receive a greater volume of high-quality leads with chatbot tools. (Drift)
  • 61% of people globally believe that automation could put people’s jobs at risk. (PWC)

Voice Assistants and Smart Speakers

While voice assistants are technically a segment of AI, they’ve become so prominent in the emerging media world that they deserve their own section of stats.

  • Statista predicts that the number of digital voice assistants will reach 8.4 billion units by 2024, which is higher than the world’s total population. (Statista)
  • The total number of Amazon Echo users is more than double that of Google Home. (eMarketer)
  • 123.5 million adults in the US will use voice assistants at least once per month. (eMarketer)
  • Almost all voice assistant users use the technology on a smartphone. (eMarketer)
  • By 2023, digital voice ecommerce is expected to triple to an $80 billion industry. (Juniper Research)

Smart Devices and Appliances

Smart appliances and devices have significant potential to impact marketing. Although the space is still young, it’s providing interesting opportunities to bigger brands. 

As you can imagine, devices like smart TVs could provide great potential for content marketing and branded media. However, a more unique example of an appliance that could provide brand potential is a smart refrigerator.

“I’m excited to see how a smart fridge that can tell me when my avocados are about to spoil can be leveraged by a brand to give me information that might serve me in that particular information, says Amanda Zantal-Wiener, a senior content strategist who creates content for HubSpot that covers news and trends.

But, Zantal-Weiner’s excitement doesn’t end at smart-home appliances — she’s also fascinated by the world of smart cars.

“Until we start to see self-driving cars on the road, the idea of connected cars can also be used to help me do more than mindlessly scroll through my phone when I’m using a ride-hailing service, by serving as a distribution channel for real-time, relevant information during that trip. Everything is connected, and I’m excited to see which brands are able to adapt to that earlier on in a way that actually helps customers,” Zantal-Wiener explains.

Here are four key stats that highlight why you should keep these technologies on your radar.

  • Smart home appliance user growth will more than double between 2020 and 2025, from 30.6 million to 64 million. (eMarketer)
  • Smart TVs are the most popular smart home devices. (Statista)
  • The average cost of a smart-home device is expected to drop by 52% by 2023 (Juniper Research)
  • The percentage of US internet users using a smart appliance will increase to 21% by 2025. (eMarketer)

Navigating the Future of Marketing

Yes, creating voice assistant skills, leveraging AI, and building branded AR/VR experiences might be pretty inaccessible and costly to your company right now.

But, if you want to continue to innovate your brand or be a competitive marketer in the far future, you’ll want to keep up with how technology and marketing possibilities are evolving — you’ll be more prepared to adopt new technologies when they are accessible in the future.

New Call-to-action

Source link

MARKETING

B2C Marketers Treat Content Marketing as a Project; That’s a Mistake [New Research]

Published

on

B2C Marketers Treat Content Marketing as a Project; That’s a Mistake [New Research]

In The End of Competitive Advantage, Rita Gunther McGrath illustrates all competitive advantages are transient. She contends everybody understands that. So why hasn’t basic strategy practice changed?

As Rita writes:

Most executives, even when they realize that competitive advantages are going to be ephemeral, are still using strategy frameworks and tools designed for achieving a sustainable competitive advantage, not for quickly exploiting and moving in and out of advantages.

That last part resonates after working with hundreds of enterprise brands over the last 10 years. Most businesses think about how they can change content to fit marketing’s purpose, not how they might change marketing to fit content’s purpose.

Guess what? Your content will never be a sustainable competitive advantage or differentiator – all content assets are easily replicable and, at best, only transient in differentiated value.

In the newly released Content Marketing Institute/MarketingProfs B2C Content Marketing Benchmark, Budgets, and Trends – Insights for 2023, I see it’s time to feed the content giant that awakened last year. But be careful not to get so distracted by the food you fail to cook consistently over time. All too often, content marketers get wrapped up in content creation rather than in the ability to lead the capabilities to create consistently.

Content should be a strategic activity

Look at content operations as the catalyst that can change everything for your content marketing challenges. You should recognize the activities you perform are a competitive advantage. Success hinges on the ability of a team (of one or 100) to be dynamic and fluid – moving in and out of “arenas” (as Rita calls them in her book) of content and creating temporary advantages.

Here’s the real takeaway: Ask everyone in your business – including your CEO – if they believe compelling, engaging, useful, and dynamic content-driven experiences will move the business forward.

If the answer is yes, then the strategic value lies in your ability to evolve and coordinate all the activities to create those content-driven experiences repeatedly. It does not lie in the content or the distribution plans. Your team’s job is not to be good at content; your job is to enable the business to be good at content.

#ContentMarketing’s strategic value lies in the ability to repeatedly deliver content-driven experiences, not the content itself, says @Robert_Rose via @CMIContent. Click To Tweet

Consider some highlights from this year’s research.

Struggle is real for content marketing strategy

Content marketing remains important.

Seventy percent of B2C marketers told us that content marketing has become more important to their organization over the last year. (Only 4% say it’s less important.)

Importance of B2C Content Marketing in the Last Year

With an increase in importance comes a need for more resources. When asked what they would change about content marketing in their organization, they say they want more staff, more budget, and better access to subject matter experts.

70% of #B2C marketers say #ContentMarketing is more important in their organization than last year according to @CMIContent #research via @Robert_Rose. Click To Tweet

Yes, content marketing is more important, but content marketers struggle to keep up with the demand.

Why?

Because so many businesses treat content marketing as a campaign-, project-focused effort that requires different “assets.” Content marketers are so busy churning out projects of content that they haven’t figured out how to make it a repeatable, consistent, and scalable process.

As far as their biggest challenges in content marketing, 57% of B2C marketers say creating content that appeals to different target audiences. Rounding out the top three: developing consistency with measurement (44%) and differentiating our products/services from the competition (40%).

B2C Organizations' Current Content Marketing Challenges

57% of #B2C marketers say they are challenged to create #content that appeals to different target audiences according to @CMIContent #research via @Robert_Rose. Click To Tweet

Solving all three of these challenges centers around strategic content operations – setting a consistent long-term strategy to differentiate, developing a measurement plan that stands the test of time, and scaling to meet the needs of different audiences. But most marketers aren’t planning to acquire the help to tackle those challenges. Among the resources they plan to hire or contract in the coming year, almost half (45%) say they will look to grow writers, designers, photographers, and videographers.

It’s like trying to design a bigger house by simply adding more bricks.

45% of #B2C marketers plan to hire content creators in the coming year. @Robert_Rose says that’s like designing a bigger house by adding more bricks via @CMIContent #research. Click To Tweet

But B2C content marketing is working

Despite their challenges, talented practitioners find success. Overall, 81% of B2C marketers rate their success as either moderately, very, or extremely successful. Only 2% say they were “not at all” successful.

How B2C Marketers Rate Their Organization's Overall Level of Content Marketing Success in Last 12 Months

And 86% say content marketing provides a “meaningful/purposeful career path.”

These results align with the research discovered in CMI’s Content Marketing Career & Salary 2023 Outlook (registration required). We found though content marketers are generally happy in their current roles, they would be happier if their organizations prioritized content marketing, backed it with strategies and resources, and invested in technologies to help them do their jobs faster and more efficiently.

The final bit of good news? Almost three-quarters (73%) of content marketers expect their organization’s investment in the practice will increase or remain the same this year. Only 3% believe it will decrease.

Different activities, not more efficient ones

The B2C research presents some interesting insights into the priorities for 2023:

  • Businesses must increasingly stop organizing and scaling new marketing teams based on platforms, technologies, or inside-looking-out views of the customer journey. The format and placement of those experiences on multiple channels will always be temporal. Success happens when the business becomes skilled and integrated at operating and managing all manners of content-driven experiences.
  • Businesses must stop looking at content from a container-first perspective – designed solely to support marketing tactics or initiatives. Success happens when the business recognizes content operations as a function, supporting the fluid use of content to fuel better customer experiences.
  • Businesses must not say, “That’s the way we’ve always done it,” when one experience no longer works. Success happens when the business can healthily disengage and dismantle experiences that aren’t working. They can constantly reconfigure their activities and manage portfolios of content-driven experiences.

Starting with the wrong premise

Often the first sign of trouble in any content marketing approach is when you hear, “How do we get more efficient at content?”

Efficiency involves changes to a process to remove friction. The question often assumes a working, standard operation providing value already exists. But if there is no repeatable standard operation, efficiency ends up meaning producing the same or more content with the same resources.

That rarely works out to be better for the business.

The more difficult task for content marketers is to determine the different activities necessary to create or augment the processes and identify the activities to undertake differently.

The content you create provides no sustainable competitive business advantage. But a strategic content operation just might.

Get the latest Content Marketing Institute research reports while they’re hot – subscribe to the newsletter. 

HANDPICKED RELATED CONTENT:

Cover image by Joseph Kalinowski/Content Marketing Institute



Source link

Continue Reading

MARKETING

Renting vs. Owning the Post-Review Local Consumer Journey

Published

on

Renting vs. Owning the Post-Review Local Consumer Journey

The author’s views are entirely his or her own (excluding the unlikely event of hypnosis) and may not always reflect the views of Moz.

Technology can be a conductor or a barrier. Everything we do to market local businesses is meant to culminate in a human encounter. When we get our part right (and external forces smile upon us), technology connects us. When we get our part wrong (or external forces impede us), technology can have the frustrating effect of sundering local brands from their customers, with everybody losing out on the deal.

The modern phenomenon of local search exemplifies the concept of a “mixed blessing”. Loss of control over significant parts of the customer journey can be a source of legitimate stress for owners and marketers. Stress isn’t good for us, of course, and that’s why I’m hoping this message brings some welcome relief: control of the most important aspects of the consumer journeys remains strongly on your side, and you can thrive without the parts you have to give up. We’ve got data to back this up, thanks to Moz’s recent report, The Impact of Local Business Reviews on Consumer Behavior, and I’m hoping today’s column will lift some burdens that may have been weighing you down.

The data

Let’s start out by taking a moment to really reflect on what it means that 96% of adults read local business reviews. Basically almost everyone in your community is perusing this content, making it the widest possible road to your front door, but the truth is that it exists in a space you only partially control. Given that only 11% of review-readers trust brand messaging over public opinion, reviews matter greatly, and it’s a tough reality that they mainly happen in digital spaces you rent rather than own.

If something goes wrong with your reviews on third party platforms like Google, Nextdoor, or Yelp, such as a spam attack, or the random disappearance of your reviews due to a bug or update, or a single irate customer shouting half-truths or downright falsehoods through a megaphone amid a small number of reviews, you have limited direct recourse for resolution. Platforms may or may not respond to your pleas for help, and some customers may ignore even your best offers to resolve their complaints – the sense of lost control is not imaginary.

Here is the good news: for 91% of your potential customers, the very next step they take after reading reviews will land them in spaces you own. 51% will head to your website, which you fully control, 27% will visit your place of business, which you also fully control, and 13% will contact you, and it’s you who control your phone and text lines, your email, forms, and live chat. Apart from the 8% that will move from reviews to the profiles you rent on social media platforms, management of customer experiences is almost all on your side and in your house.

Barring mishaps like your website being infected with malware, a temporary closure of your premises due to illness, or a power outage bringing down your phone lines, it turns out that you remain in charge of key customer/brand experiences during nearly all of the post-review consumer journey. Great news, indeed! But it carries some big responsibilities with it.

Converting on the next step after reviews

The wide funnel begins to narrow as consumers transition from reading reviews to their next steps. Winning maximum conversions from their next actions depends on having the right welcome in place in all three of these spaces:

The local business website

Whether customers click from the review profile to your website homepage, or to a landing page your listing is linked to, prepare this welcome for them:

  • An accessible, secure, technically-clean, optimized website housing the multi-media content and features the customer needs to take their next steps towards a transaction.

  • Highly visible information on every way in which the customer can contact and visit you, including phone, text, chat, messaging, email, forms, hours of operation, maps, and written directions.

  • Additional first-party reviews to provide further proofs of your good reputation and tide you over in times when bugs make your third-party reviews go missing.

  • A unique selling proposition to seal the deal.

Your place of business

Whether your place of business is your physical premises, or your clients’ locations, you can shine on this main stage with the following:

  • Exceptional customer service based on the training of your staff and good management of the entire customer service ecosystem. With 65% of review writers saying they’ve written negative reviews because of experiencing bad or rude customer service, building an employee-centric company that radiates both happiness and helpfulness is your best bet for building an excellent reputation.

  • Careful guardianship of your supply chain. 63% of review writers say they’ve written negative reviews after purchasing bad products. The quality of your inventory supports both repeat purchases and high ratings.

  • Accurate online local business listings. 52% of survey respondents have written negative reviews after encountering incorrect business information on the Internet. Use of listings management software like Moz Local can ensure that what’s published about your business online (like hours of operation, addresses, and key services) matches what the customer will experience in the real world, preventing inconvenience and disappointment.

Your contact options

Whether a review reader turns next to your phone line, text line, live chat, website form, or email, assist them towards a next conversion by:

  • Reducing on-hold times on your phone line to the bare minimum

  • Ensuring all public-facing representatives of the business are well-trained in your products, services and policies

  • Providing realistic estimates of when a customer will hear back if they are required to leave an email address on chat instead of speaking immediately to a live person

  • Reducing the number of form fields the customer is required to fill out before reaching you

  • Offering an after-hours support option

  • And, of course, for the 8% who will visit your rented spaces on social media platforms as their next step after reading reviews, be sure your full contact information is included on your profiles.

Despite the market disruption of the Internet, so much about local businesses remains the same

Infographic depicting the cycle of consumer engagement. Top middle: blue circle with image of person working at a computer, text:

While technological innovations are ongoing, it’s apparent that deeply-rooted consumer behaviors continue to follow a traditional pattern that’s existed for hundreds of years. In summary, people in your town want to know what others say about your business >>> people want to connect with your business for a possible transaction >>> people then tell others about what they experienced with your business. All of this cycle has always happened offline, and the only real change is that the means for some of this communication has partly transitioned online.

Just as business owners always had to do without the ability of controlling the word-of-mouth reputation their community was creating for them on front porches and over fences, modern business owners can live without directly controlling the online brand sentiment that exists in spaces they have to rent rather than owning. While it’s true that traditional PR may have had more power to shape public perception before online local business reviews made individual consumer voices so loud, the not-so-secret ingredient to brand longevity and loyalty remains unaltered: great customer experiences at and around the time of service are the foundation of success.

What every local business needs today is a thoughtful plan for managing the digital assets that now contribute to these positive consumer experiences. The winning recipe, then, is developing high standards for the spaces you own (your website, place of business, and most contact methodologies) and being as hands-on as possible in the spaces you rent (the online profiles containing your local business information, reviews, and social content). With a workable strategy and good quality tools for managing this ecosystem, the development of your good name in the community you serve will follow.

Knowledge is power; read Moz’s full survey report: The Impact of Local Business Reviews on Consumer Behavior

Source link

Continue Reading

MARKETING

How to Run A Content Audit in 2022

Published

on

How to Run A Content Audit in 2022

As a marketer, how often do you run content audits? How do you keep track of how content is performing? Do you use those metrics to improve future campaigns? (more…)

Continue Reading

Trending

en_USEnglish