Over the past few years, we have seen a massive shift in the performance marketing industry towards innovation in technology. One of the best parts was the development of strong fraud prevention techniques with improved fraud detection parameters. However, there is always room for improvement — no wonder we observe continuous progress in tracking and reporting functions.
The industry stays highly competitive thanks to technology and data that drives the insights marketers can take actions upon. At the current time, the online marketing industry is shifting more towards automation and AI. In this respect, we should expect to see significant changes in performance marketing trends. But what is that, that we should be ready for in 2020?
1. Artificial Intelligence to take over mundane tasks
With its rapid spread in the industry, AI is expected to take over a good part of the routine and manual tasks. The technology was already adopted in some places and resulted in a big money-saving change.
AI makes it easier for marketers to manage the data and do calculations when it comes to performance marketing analysis. For example, results from your A/B tests, CTR analysis and most importantly channel-wise conversion rate calculation. All these calculations are not easy when you have multiple data points. Especially when you’re a media buyer, and you need to have a single platform to monitor both the demand and supply. AI comes out with the purpose to unify and automate many relevant processes.
2. Chatbots to be used as a major communication channel
In large lead generation campaigns or mass traffic websites, chatbots are crucial to nurture leads and further convert them into a sale. It is not easy to pay equal attention to everyone when there is a large number of requests. Chatbots open the doors to interacting with a vast amount of the audience without much workforce.
A significant part of customer queries is generic, especially in the first stage. When you know your customer’s challenges and questions, you can automate a good portion of your communication by answering customer inquiries with predefined replies. All the basic queries are taken care of by bots, while you get to solve only complex and unique issues.
Not only large scale enterprises, but also a lot of medium-scale companies already use chatbot as their first point of communication.
3. Impact of Voice search on performance marketing
In 2020 you should be prepared for the voice search era. Voice search is about to have a high impact, especially on the eCommerce. With a growing number of customers using personal voice assistants, marketers expect voice search advertisement to enter the market and take a firm position there. Now, when marketers will be doing paid voice search ads, brands can easily recommend their products in a relevant voice search to a potential customer.
4. Influencer Marketing is a hot topic
Ever since the phenomenon of influencer marketing was introduced, the segment saw a huge spike. Over the last year, 17% of companies invested over 50% of their total marketing budget in influencer marketing. In 2020, we are going to witness a huge growth in this marketing channel since performance marketing has also been connected with influencer marketing.
5. Remarketing Pixels and the Regulation
Privacy remains a big concern, and data regulation acts are still being introduced one after another. The regulations such as GDPR and CCPA resulted in more authentic and legal advertising data. Thus, no doubt, the authentic and legal data is going to be the power of next-gen affiliate marketing.
6. Advanced Fraud Prevention Technologies
A tremendous amount of affiliate scam was spotted in the past few years only because of the new technological developments. With smart fraud prevention algorithms, such as click-level fraud prevention and other advanced machine learning measures, it becomes very hard for fraudsters to send fraudulent leads and conversions. These innovations save top dollars in performance marketing and help media buyers grow. Unfortunately, fraudsters don’t give up yet, and they are likely to come up with new fraudulent methods. Thereby fraud prevention technologies are yet to bring even more solutions to the affiliate industry.
To which extent these tendencies will spread is a matter of time. We will still have to wait for it to observe the first results. But in any case, performance marketing will be growing, attracting more advertisers and earning more profits. And if you want to get the most of it in 2020, bear in mind these six tendencies and make sure that your strategy is data-driven, the routine workflow is automated, and campaigns are creative and data-protected.
We wish you a lot of joy and high profits in 2020!
This post is brought to you by our partner Affise, a performance marketing platform helping advertisers all around the globe to manage, track, analyse and optimise online advertising campaigns in real-time.