5 Trends Shaping The Future Of Global Marketing
Global markets impact almost every business decision and are constantly highlighted in media. Leading strategic and financial business decisions affects more than just businesses’ ROI but also their brands appearances get considerable in this impact. The forces shaping global markets are always in flux which is causing the external and internal pressures to government, businesses and people and it’s demands are ultimately turning it into new trends that are shaping the future of today’s global marketing.
Also Read: Strategies To Drive Your Business In 2017
Type Of Content Distributed, Translated and Managed Today
Before brands go global among technology and their tech stack, it is worth asking, “What is included and who is involved in the global marketing?” when it comes to content translation process. Content is the brain of the global marketing architecture without which you can neither explore your product to media, customers and other people across the world nor you would market it globally. According to the research for 2017’s global market, roughly the same number of organizations 86% expect to localize website and digital content in 2017 compared to those doing it now 90% and growing number in e-marketing 70% and video content 62%, up from 65, 48 and 43 percent respectively. So the type of content that is going to be distributed, translated and managed today is vastly affecting on the future of the global marketing.
Global Customer Experience
Global customer experience is one of the most affecting feature of every business in concern of global marketing that create various challenges in shaping its future. Stats of different matters shows us it’s impact on global marketing. In-house resources (38.5%) and a lack of strategic direction (24.6%) are the two main barriers marketers’ face in facilitating a global experience. Barriers to global customer experience delivery selecting the right tech partner 59%, and identifying sufficiently compelling ROI 57% were the barriers faced by the most Enterprise IT decision makers.
Rise Of International Marketing
World is growing fast along with getting short because of technology today. This is the main and very advantageous fact for rising the international market. There is visible trend of brands moving from activity in lesser than 10 countries to become active in more and many more than just 10 countries. According to the survey and stats, by 2017, 68% of enterprise IT decision makers plan to be active in more than 10 countries and 35% expect to be active in 50 plus countries. There is the huge pick of technology market growth so that international market which is impacting rigorously on global market growth.
Add New Language, Attract New Market
Enactment of new languages will fuel the global expansion plans of enterprise brands, according to their IT decision makers. Languages digital content is translated into today and in two years. And in these two year’s time period 27 percent translating into more than 10 languages will almost double to 45 percent and the 8 percent currently translating into 50 plus languages will triple to 24 percent in 2017. This is what the condition would be by adding new languages. Not just this attraction of new marketing trends are integrating promptly. International customer acquisition strategies are creating custom marketing campaigns in house, some translate their websites and others outsource to agency partners with experience in the target market. The top three international customer acquisition strategies of travel brands are focusing on one size fits one solutions to resonating with country specific audiences.
When implementing a standardization strategy, companies assume homogenized consumer needs. Thus investments in international market research related to modifying the marketing mix are minimal. Localization strategy takes into account the inherent diversity that exists in international markets and treats individuals as “cultural beings” whose values and behaviors are shaped by the unique culture in which they live. Localization strategy is geared toward understanding local consumer preferences and other locale-specific requirements and then adapting the marketing mix and other business strategies to best satisfy consumer demands. This is how localization strategy plays an important role for creating a future of global marketing.
In order to achieve global objectives, global marketing need to be rise with top speed. With knowledge of these 5 trends we can conclude that its rising and shining with bright future ahead.