Each new year introduces changes in the world of business. Some customers become more open-minded to new digital marketing methods while others prefer the comfort of the old ways. As an entrepreneur, it’s best to know what these trending strategies are so you can capitalize them to stay on top of your industry.
1. The Metaverse
Facebook has officially changed its name to Meta. And with that parent company rebranding is the creation of the Metaverse — a virtual and augmented experience where everyone can communicate for personal or business purposes.
The Metaverse is still under development as it lacks a lot of useful features it should have. But the concept of it opens a lot of opportunities especially when it comes to customer care, business meetings, and marketing. Try to imagine a virtual Times Square with your business advertised on one of the LED displays.
2. Privacy challenges in advertising
Apple’s iOS 15.2 update last year caused a lot of business owners to panic. The new privacy report feature gave the option for iPhone users to disable apps from accessing their private information making it hard for algorithms to run targeted ads.
It won’t be long until other gadget-makers would follow suit. Other entrepreneurs think it’s wise to advertise your brand on traditional platforms such as email marketing or tell your customers to enable information access on apps where your business has a page/account.
3. Email marketing is still king
Continuing from #2, email marketing has remained popular throughout the years and its rising popularity will return this 2022 due to the trend of privacy feature updates on smartphones. If you’re not done yet with doing tasks to start your year right, you might want to include studying email marketing strategies as part of your to-do list this month.
4. Loyalty programs are getting obsolete
Loyalty programs are no longer compelling when driving customer purchases. Membership programs are. Jay Myers of Bold Commerce said, “Brands will embrace the membership model and add value through benefits, like exclusive access to products, free shipping and offline events.” Instead of incentivizing customer purchases with loyalty rewards, offer a membership program that would drive plenty of sales. You can also still earn money even if customers don’t buy anything.
5. NFTs and crypto in social media eCommerce
Non-fungible tokens were one of the biggest hypes of 2021. From art, social media content, to games, people were buying and selling them as a way to earn throughout the pandemic. In terms of digital marketing, you can create an ad, physical, or a virtual product, turn it into an NFT, and sell it.
Customers who’ve bought your created ads will then pay up in cryptocurrencies which you can mint and exchange for fiat money. Some even hold their crypto assets and wait for the value to pump before conversion. You might wonder — how does selling your products as NFTs actually benefit your business?
Since NFTs are hot right now, there’s a huge customer demographic on the internet that is eager to line up just to buy what you offer. And if what you make are all unique, the more will bid and pay top dollar just to buy something “rare.”
One last thing — Sustainability is also hot in the world of entrepreneurship right now. More customers are buying from brands that use and follow eco-friendly packaging and production practices. Make sure to tell these points in your advertising.
