Conversational Marketing

• Customers prefer brands to focus on the following areas: "more personalized service, faster answers to questions, and streamlined, self-service journeys."
• "People no longer want to feel like they’re being marketed to. They want to feel like they’re part of the conversation."
• The use of live chat and automated chatbots is one method that brands have used to offer more personalized assistance to their customers.
• "Conversational marketing methods like live chat and chatbots are relatively young, but they’re already dominating the customer support space as the favored communication channel."
• "Only 22% of customers are happy with the level of personalization in digital retail. Conversational commerce could offer one on one personalization at every stage of the customer journey and at scale."
• "Customers are leaving brands in favor of those who provide an easier, more streamlined purchase journey."

• After a consumer has a personalized shopping experience, "44% will be likely to become a repeat buyer, 39% will likely tell friends or family, 32% will likely leave a positive review, and 22% will likely post a positive comment on social media."

Over-The-Top Advertising

• "71 % of Internet users login to an over-the-top (OTT) service. Advertising comprises 45% of all online video revenue and is projected to grow to almost 60% over the next 10 years.”
• "OTT adoption is expected to grow from 170.1 million to 197.7 million."
• The move to OTT will benefit advertisers "in the form of addressable TV advertising, which allows for real-time targeting of custom, complex audiences and much finer-grained measurement and performance tracking compared to traditional index-based TV buying."
• A 2019 study from the Video Advertising Bureau, "projected that ad spend on addressable TV will hit $3.3 billion by 2020. The report also found, only 15% of advertisers regularly include addressable TV in their ad buys to date."
• According to a FreeWheel report, "premium video ads on OTT achieved a 98% completion rate, outperforming tablets, smartphones, and desktop. OTT ads also provided a greater boost to brand awareness and favorability than ads on desktop and mobile."
• OTT still has some challenges, the first is "scale, which can be particularly difficult to achieve when implementing addressable advertising campaigns. The second is measurement, as they are still fragmented and inconsistent among OTT platforms, MMPs, publishers, and various third parties."

Summary

• For this hour we were able to identify additional material for 2 marketing trends (conversational marketing and OTT advertising) in the given Forbes article. We recommend continuing the research, to identify more insights for the other trends.
• In the course of our research, we also came across some companies using conversational marketing, which might be of interest.
• Feel free to select or add an option below.