2023 is set to be a big year for MarTech as digital marketing spending is expected to rise to $146 billion. However, this year we will see a shift towards more visual and voice search rather than traditional PPC. In this article, we will explore the top 5 MarTech trends that businesses should keep an eye on in 2023. These trends include Customer Experience, Marketing Automation, Data Privacy and ESG Values, Customer Data Analytics, and Omnichannel.
Customers are starting to see brands as real people with whom they can talk. Users want to interact directly with the brands they love more and more, whether it’s through social media or chatbots. During the pandemic, when the number of conversations on company chat platforms went up by 250% in many industries, this was especially clear.
We think conversational marketing will take advantage of this trend and give users the kind of interesting experience they want. A big part of this will be getting in touch with customers in new ways, especially through Messenger, WhatsApp, and Slack.
Brands won’t have to hire thousands of people to constantly watch chat lines to do this. Instead, they can use sophisticated AI-powered chatbots like the wildly popular ChatGPT, which can answer many user questions with little or no help from the brand. By 2030, this market should be worth $32.62 billion.
A marketing plan that works for everyone doesn’t work anymore to get the attention of your target market. To reach different kinds of users, you need a customised marketing plan. Personalisation is good for customer relationships. But you can no longer count on personalised email subject lines to get people to open your emails. Product suggestions and personalised content are in high demand right now.
It’s important to keep an eye on what users are doing in real time and design a user interface that fits their tastes. Because of this, the idea of “hyper-personalisation” has come up. Almost every part of marketing has been affected, from search results to banner ads. Modern AI tools that are based on data are ready to help you do this.
As the need for personalisation grows, more marketing automation tools will be used to study how users interact and behave. Recent marketing automation trends point to a move toward communicating with customers in the way they prefer.
Data Privacy and ESG Values
In 2023, a big trend in digital marketing will be for organisations to be more proactive about collecting data. At the same time, people are sick of businesses tracking them online without their knowledge. So, how should brands react to this?
This is where the exchange of data and value comes in. It’s important to use this idea to give people a reason to share their data, make data collection fun, and get the most out of the data you already have. This is where strong emotional connections that focus on people can help get customers to act. This will make it easier to customise your content, messaging, product design, and services to meet the needs, behaviours, and concerns of your target audience.
The first step is to make it easier for people to find what they want, so they can find what they need faster. For instance, a quick survey or quiz is a great way to find out what people The assessment and plans should also go beyond the organisation’s borders and cover the whole supply chain as well as the ESG credentials of suppliers. For instance, it is easy to forget about how cloud service providers and data centres affect the environment.
Customer Data Analytics
Without a doubt, big data and analytics are two of the hottest trends in marketing technology right now. But what are they really?
“Big data” is just a term for the huge amounts of information that businesses now have access to. This information can come from many different places, like social media, website traffic, customer purchases, and more.
Analytics is the process of turning this information into insights that can help businesses make better choices. This can be done in a number of ways, such as through descriptive analytics, predictive analytics (which tries to predict what will happen), and prescriptive analytics (which recommends what should happen).
So why are analytics and big data so important? There are several reasons why:
They can help companies make better choices. Now that there is so much data available, businesses can learn more about their customers, their markets, and how they run. This lets them make better decisions that can help them make more money.
They can save money for businesses. By learning more about their customers, businesses can better price their products and services and target their marketing efforts. This can save a lot of money on marketing and advertising costs.
They can help companies come up with new products and services. Businesses can make new products and services that will sell well if they know what customers want and need. This can lead to more sales and a bigger share of the market.
Omnichannel customer experiences are becoming more and more important for customer communications. The more businesses that use omnichannel strategies and the better omnichannel products become, the more businesses rely on these suppliers.
Think about the most recent time you bought something. Aside from your email inbox, you may be used to getting brand messages through push notifications, SMS confirmations, and ads that show up on your social media platforms and are very specific to you. In addition to everything else, these projects can’t work without a connected cross-channel trip.
If a modern business wants to reach its customers well, it needs to have an omnichannel presence. Because of this, they can connect with users across all platforms and meet their higher expectations for a smooth customer experience.
It’s clear that 2023 will be a big year for MarTech because marketers are getting ready to change how they interact with customers by using smarter, more targeted interactions.
Whether you’re a new business or the leader in your market, it’s important that your MarTech stack is easy to use and works well. Getting ahead of the competition means putting in the time to find new business opportunities and new technologies that you can use in your business.
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Published in January 2023