A look at the marketing and advertising articles we’re sharing internally this week at AList.
After 62 percent of companies reported having to entirely rethink operational models as a result of the pandemic, chief marketing officers can remain agile by investing in ecosystems of partnership between departments and enlisting humans, not just artificial intelligence, to make sense of data to deliver unique personalized experiences.
Why it matters: Eighty percent of consumers are more likely to make a purchase from a brand that delivers personalized experiences. Therefore, being a CMO in the age of COVID-19 will require patience and empathy as consumers decide how they feel about important changes, including how often they want to work remotely and how often they feel comfortable going out to eat and shop.
Reducing marketing budgets can short circuit brands and cost them more in the long run. Instead, they should take advantage of the opportunity to double down on marketing initiatives while their competitors are cutting back.
Why it matters: Four areas of marketing investment to consider are chatbots for personalized experiences, a focus on the searchability of social media posts, creating more video content to grow organic reach and partner with influencers to personify experiences in the post-pandemic world.
According to the IAB’s augmented reality (AR) Buyer’s Guide, 97 percent of brands on Forbes’ Most Valuable Brands list are currently using AR, and there will be 85 million AR users in the US alone this year.
Why it matters: Immersive and multi sensory, AR creates an enhanced online shopping experience. Shopify saw a 200 percent increase in conversions after using AR for product visualization, while Overstock increased conversions from 10 percent to 200 percent after using AR in its product catalog.
Rather than making predictions about how sustainable supply chains and hybrid workforce will change the future of work, Ad Age columnist M.T. Fletcher suggests companies create a wish list based on reflections from last year.
Why it matters: Fletcher suggests companies keep things unstructured and organic when heading back to the office, avoid ghosting agencies and clients and be candid about lay-offs to generate loyalty.