1. Appreciate your first-party data.
Advertisers and marketers are under pressure as rising consumer concerns about privacy are forcing traditional third-party data collection to be relegated to the dustbin of history. Safari and Firefox have already banned website cookies. Google will phase them out of Chrome (which makes up almost 70% of the market) in 2023. Having taught the first-party data, treat it like gold!
2. Use machine learning for paid media.
Speaking of your data, one of the biggest challenges is how to make sense of it all. Why should your employees sift through and analyze mountains of data when AI-based solutions can do it in a fraction of the time? Here machine learning comes to the rescue, which will reduce the cost of employees and at the same time increase profits.
3. Focus on personalization.
We all like to feel special, and research shows that customers who get a personalized experience are more likely to make a purchase and more likely than not. Two in three (66%) customers expect companies to understand their unique needs and expectations. About the same number (68%) expect brands to show empathy.
4. Customer privacy priority.
Nearly 80% of Americans are concerned about how their data is being used by companies. Because of this, brands will soon have to adapt and find new ways to predict what customers will buy without collecting personal information.
5. Grab attention with TikTok and Reels.
It’s not news that video has been attracting attention for years. But right now, short video content dominates social media. TikTok, Instagram Reels, and even YouTube Shorts are the best place for fresh brand content. While youth has traditionally been the main target audience, the data shows that the older demographic is quickly catching up.