The advent of the internet and social media has revolutionized U.S. marketing and advertising industries, leading to the rise of digital (online or technology-based) marketing. New apps and emerging technologies drive trends within the digital marketing realm. Marketing professionals can learn about these trends through earning an online Master of Business Administration (MBA) with a concentration in Marketing from St. Thomas University (STU). The cutting-edge digital marketing expertise that students develop helps them become innovators in the field.
Here are five examples of current trends in digital marketing that every marketing professional should know about:
1. Voice Search and Smart Speakers
Roughly 35% of adults in the U.S. now own a smart speaker, according to a 2022 report from NPR and Edison Research. In total, 62% of U.S. adults use a voice assistant on smart devices such as speakers, tablets and phones. This technology allows users to perform a multitude of tasks, ranging from setting alarms to ordering products through vocal commands. “Smart homes” pre-wired to facilitate smart speakers are increasingly popular within new developments. Smart speakers largely rely on the internet to facilitate commands such as “Alexa, where is the nearest drugstore?”
Plus, the integration of generative AI with smart device voice search can dramatically improve the accuracy and detail of search results. The shift in decision-making from humans to computers poses unique challenges for marketers who previously targeted consumers through original content, often without considering the complex algorithms that drive search engine rankings and smart speakers.
2. Virtual Reality and Augmented Reality
No longer the sole purview of online gamers, virtual reality (VR) and augmented reality (AR) have significant marketing applications. For instance, emerging AR- and VR-driven social media environments like the metaverse provide unique marketing opportunities within the VR realm. Plus, consumer participation in virtual environments will increase as advanced AR and VR devices like Apple’s Vision Pro goggles enter the marketplace, driving more innovations in VR marketing techniques and applications.
3. Artificial Intelligence
Artificial intelligence (AI) gained a foothold in mainstream life with the rollout of RankBrain in 2015. The Google algorithm uses cumulative learning processes called machine learning to answer online user queries with a high level of insight and accuracy. As noted above, recent developments in the integration of search engines and generative AI take these query responses to a whole new level.
Marketers and businesses can save a great deal of time and money by leveraging AI-driven technologies, whether in identifying, analyzing and solving business problems, optimizing content and marketing strategy, gaining accurate insights from audience analysis or automating a range of marketing processes. In fact, McKinsey & Company estimates that generative AI alone “could add the equivalent of $2.6 trillion to $4.4 trillion annually” to the global economy through productivity increases — 75% of which fall across four business functions, including marketing and customer operations.
4. Chatbots
Chatbots — the AI-based technology increasingly used by businesses to chat with customers online in real time — are here to stay. Plus, while the chatbots of old are formidable tools for marketing, customer service and lead generation, generative AI greatly increases the depth of interaction and personalization chatbots can provide, as shown by the release of ChatGPT and others.
Business forecasting agency Juniper Research projects that global spend on chatbots will increase from $12 billion in 2023 to $72 billion in 2028, with growth driven largely by models like ChatGPT. Chatbots provide a cost-effective and efficient service by answering questions quickly while logging customer interactions without the need for human involvement.
5. Influencer Marketing
Social media influencers are individuals with large followings who are seen as having credibility with a specific market segment. They are spokespersons and advocates for products, services, causes and more. Influencer marketing utilizes these individuals to promote directly to their followers. The advantage of influencer marketing is authenticity, though it’s important to remember that these influencers are usually being compensated. In other words, while traditional advertising models relied on print or online ads to promote a particular product, influencer marketing uses the softer method of allowing celebrities to do the social media marketing legwork.
How an MBA Can Help You Keep up With Digital Marketing Trends
Digital marketing professionals must have a deep understanding of a range of skills, from brand management and research analysis to sales and media planning. STU’s online MBA in Marketing equips students with these essential skills. Taught by STU professors who bring professional marketing experience to the virtual classroom, the MBA program is designed to prepare the next generation of marketing leaders.
Learn more about the STU online MBA with a concentration in Marketing program.
