2019 Trend Forecast – Marketing Industry
Three months ago
Katie, our Client Services Director outlines some emerging trends in the world of marketing and advertising
Katie Salmaggi, Client Services Director
ROI in focus
This year, we are expecting that marketing budgets will be under even greater scrutiny than in recent years and demonstrating return on investment for every marketing dollar spent will be even more of a focus for brands and communication professionals.
It’s no longer enough just to create clever campaigns with nice visuals – creative concepts must be developed for a wide range of media channels and deliver measurable results.
Therefore, we anticipate that a clearly articulated, customer-centric communication strategy with a robust reporting matrix will become the gold standard. We believe this will then further encourage brands to favour marketing initiatives with directly measurable performance and contribution to profit, such as digital marketing and social media campaigns.
Consumers are increasingly buying with their hearts and minds and not just their wallets – they choose to buy from brands that share their core values. This year, brands that clearly articulate their values and live them out authentically will engage their audiences and gain their trust.
New-look client/agency partnerships
Gone are the days of retainer-only agency agreements – flexible, new-look client/agency relationships will continue to evolve in 2019.
A retainer agreement is ideally designed to position an agency as a strategic partner invested in their client’s long term success, however other pricing models may be just as rewarding to both parties, for example, fixed pricing and project-based fees.
The trend will also continue for many large organisations to fulfil their marketing function internally so their agency requirements will naturally change. Even though they may take care of the roll-out and execution of collateral in-house, they will still look to agency partners for strategy, advisory, creative concepts and mentoring their junior internal marketing staff.
One of the benefits of this emerging client/agency dynamic is that it helps make the most of the client’s available marketing dollars. When conversations with agencies are routinely about budgets, it can be difficult for the agency to serve as a specialist partner as they run the risk of being seen as simply another ‘vendor’.
Several times in the last few years, we have found ourselves to be the longest-standing members of our clients’ marketing teams and in one instance, the only link between the previous marketing team and the completely new team – we were the sole keepers of brand intelligence and marketing history.
With the high turnover of staff in most sectors expected to continue in the year ahead – frighteningly, 57% of Millennials leave their employer each year* – ensuring your brand intelligence is documented, preserved and protected will become increasingly important.
*Source: Australian HR Institute
This is the third part of our 2019 Trend Forecast series.