According to a new predictive report by Signal, the brand identity company, brands are going to reinvent themselves as identity companies in 2018.
As brands have worked to establish more meaningful relationships with their customers, this trend is only going to accelerate in the next year, according to the “Identity Is the Next Competitive Battleground: 2018 Marketing Predictions” report.
Brands are predicted to become more aggressive when it comes to acquiring and building identity assets. The quality of the data assets will ultimately also determine the winners and losers.
“In 2018, companies will turn all attention to identity to build a weapon for success in the customer-first revolution,” said Mike Sands, CEO of Signal. “Brands have discovered that a new approach is needed to retain customers and drive loyalty. With a centralized identity foundation that can ignite insights and fuel relevance across the enterprise, marketers will have an unprecedented ability to fulfill a customer’s every need.”
At the same time, companies are taking more control of their customer data in order to establish customer data graphs and build more personalized brand sites for one-on-one engagements.
Signal also estimates that more brands are going to come together as part of strategic alliances to connect their assets and gain stronger first-party data insights.
Such first-party data will also ultimately drive retail.
In addition, segmentation will become a thing of the past.
The report says:
Segmentation may be what’s now, but individualization is what’s next. Aggressive, progressive brands in 2018 will leverage the first-party data at their fingertips to recast each customer as a demographic of one. Not only will marketers embrace a wave of next-generation services and solutions designed to address each customer on her own terms and hers alone, they’ll capture even deeper, richer data insights in the process, enabling increasingly nuanced engagement with each subsequent interaction.