The emergence of digital technologies has changed the face of marketing. The emergence of data analytics also has a profound impact on how businesses market themselves and grow their brands.
In this article, we will discuss seven emerging trends in analytics that you can use to better understand your brand and generate more revenue for your business.
1. AI-Powered Visual Search
A major one of the emerging trends in marketing is visual search. Visual search involves using a picture of an object to find similar products online for purchase purposes. In the past, customers might have had to type out what they were looking for or rely on advertisements, but now AI-powered visual recognition has changed all that.
This means brands can collect more data about their consumers and give them better recommendations based on this information through image analysis. For example, if you are browsing a clothing site and see a dress that appeals to you then simply take a photo with your phone and upload it into the system. You will immediately get suggestions from other popular brands where you can buy the dress.
Chatbots are also emerging trends in marketing. These virtual assistants use machine learning to interact with customers. This is another way that brands can collect more data about their consumers. They can learn what types of products people want or make assumptions about them.
Although chatbots have been widely used by large corporations smaller businesses should take advantage of this opportunity too. This is because it allows them access to customer conversations cheaply and easily.
Micro-moments are a way of understanding how consumers behave online. Instead of asking customers what they want, brands can learn from their actions and make assumptions about them based on these behaviors.
This is one reason why it’s so important to pay attention to emerging trends in analytics. This is because this information will help you better understand your brand and provide more value for your customers.
4. Voice Search
Voice search is another emerging trend that enables brands to interact with customers in a different way. Instead of typing into their phone or computer, consumers can simply speak out loud and get the information they need quickly and easily.
This has major implications for marketers because it allows your brand to be more accessible than ever before. This means you will have an opportunity to find new ways of reaching people with minimal effort on your part as well as make better decisions about how you spend your marketing budget.
Blockchain is a decentralized ledger that provides transparency and security to the consumer. The technology allows for secure transactions between two parties without going through an intermediary.
It enables businesses to get more information about customers, such as where they are from or what they have bought before. This will help brands make better decisions when marketing their products and services because it gives them access to valuable customer data.
6. Natural Language Processing
Natural Language Processing (NLP) is another emerging trend in analytics that will help you better understand your brand and make more money. It allows businesses to take data from customers’ conversations and turn it into information they can use for marketing purposes.
It means brands can collect more data about their consumers, such as where they are from or what type of products interest them most. This provides useful insights which would be impossible to get through traditional research methods like questionnaires or surveys alone because people don’t always give honest answers when asked questions directly.
7. Data Literacy
Data literacy is a term used to describe people who can use data in an effective and meaningful way. This includes being able to access, understand, interpret and communicate information from different sources of data.
It means businesses will be able to make better decisions about their marketing campaigns because they have more insight into what customers want from their brand.
NetbaseQuid provides information that helps companies understand their brand, improve customer satisfaction and increase sales.