Over the last five years, we’ve seen more analysts review the shift in consumer trends towards e-commerce. The 2020 coronavirus pandemic saw an acceleration in the process, with e-tailers like Amazon experiencing record revenues, along with the rise of other tech-related meal and convenience goods delivery services.
With more people moving online to spend, there’s an increase in competition for online market share between e-tailers and e-commerce entrepreneurs. The landscape changes rapidly in online marketing, and over the last five years, we’ve seen some impressive changes.
Let’s unpack the reasons for the increase in online marketing over the last five years.
Social media started gaining traction with the introduction of Facebook. However, it took five or six years to monetize its platform by offering an ads service to marketers. By 2015, marketers uncovered this hidden gem, using Facebook’s targeted advertising campaign service to amplify conversion and profits.
Over the last five years, we’ve seen the introduction of the Facebook Pixel and numerous gurus popping up online talking about how they made millions through using Facebook ads.
YouTube caught the attention of marketers around the same time as Facebook Ads. The rise of the “YouTuber” phenomenon meant that people could make ad revenues off the ads playing before their content. The 2016 “Adpocalypse” saw many YouTubers see ad revenues cut significantly. However, YouTube remains focused on its advertisers as a core piece of its revenue model, and we can expect it to continue to grow, much like Facebook Ads.
The Shift to Mobile
When Steve Jobs introduced the iPhone, he had some idea of what he thought was coming. However, some near 15-years later, mobile tech dominates human communications. App development gave brands and companies a way to capture new audiences and customers. With the onset of mobile advertising in 2017, Marketers quickly adapted to mobile advertising models. Think about it, when you drive down the freeway, most passengers (and some drivers!) have their heads buried in their phones, and they never notice the billboards.
Influencer Marketing Strategy
Social media took off big time in 2015. The global craze around Instagram had people swiping through images of their favorite celebrities and interests.
However, with anyone able to use social platforms to capture an audience, marketers started to notice rising influencers online. People that amass huge followings, without any celebrity endorsement or Hollywood connection.
What’s Coming in the Next Five Years?
Influencer and social media marketing are trends that aren’t going away anytime soon. We can expect app-focused and influencer marketing strategies to dominate in the coming five years.