Marketing has come a long way in the last 20 years, and it’s going to continue to develop and refine itself in 2021. A lot of things seem unsure as we look towards the future, but Serendipity is fairly certain about these five predictions for marketing in 2021.
1. Accelerated eCommerce Growth
In 2020, with individual state guidelines in place and anxiety surrounding COVID-19 running high, it became essential to provide consumers with everything they need online. In doing so, companies saw great success. Serendipity anticipates this is only the beginning. According to Google, searches for “livestream” and “pop-up retail” are on the rise. We can expect brands to utilize this strategy, and nudge consumers to buy with limited time offers.
2. Brands Will Take A Stance on Social, Political, Economic and Environmental Issues
2020 was a big year for the Black Lives Matter movement, and in 2021 people will continue to call out police brutality and racial injustices. People will also be calling on brands to take a stance, and companies will do so accordingly. Serendipity expects companies big and small to publicly share diversity, equality and inclusion statements, as well as stances on social, political, economic and environmental issues. Companies are realizing that consumers are more loyal to brands that support their beliefs. It will also be essential for brands to back up their words with action. Consumers, especially Millennials and Gen Z, are already starting to see through virtue signaling, and they will not be afraid to challenge brands to walk the walk.
3. Potential Pivots Will Be Part Of The Plan
Pivoting from live to virtual events became a part of the norm in 2020. Even digital campaigns had to reinvent and include new messaging related to the pandemic. Of course, these changes did not come easily. Serendipity knows first-hand how much thought and extra work goes into a pivot. We know marketers, and we predict that the scramble felt by many marketers in 2020 is going to prompt plans for unforeseen bumps going forward, regardless of the nationwide vaccine rollout.
4. Micro-Influencers Will Hit Their Stride
The influencer marketing industry was worth $8 billion in 2019, and according to Business Insider, that is expected to balloon to $15 billion over the next two years. While brands utilize macro-influencers with 100,000+ followers, Serendipity believes it will be micro-influencers, creators with between 1,000 and 100,000 followers, who will be the real stars. The benefits of micro-influencers include higher engagement and authenticity. Brands can also reap the benefits of lower rates attached to micro-influencers, making their budgets go further.
5. Video Will Prove Itself Powerful
In 2015, The Washington Post predicted that by 2020, 80 percent of the internet would be online video. While we aren’t quite there yet, the advent of TikTok and its popularity amongst Gen Z and Millennials is proving to be powerful. However, it’s not just short-form vides getting recognition, it’s long-from videos on YouTube and livestreams on Facebook and Instagram as well; all have seen a significant rise in utilization over the past year. Why? Video marketing is proven to be an effective way to boost engagement. Additionally, exciting things, like augmented reality is becoming more commonplace.