Marketing and advertising executives rely on a growing range of technologies to plan and execute successful campaigns. These marketing technologies are often called “MarTech.”
The future of MarTech is likely to include increased reliance on artificial intelligence (AI) and machine learning (ML) technologies. AI and ML allow for faster, more efficient data analysis. Marketing technologies that leverage the power of artificial intelligence and related technologies should offer increased personalization and market segmentation in the coming years.
MarTech solutions provide access to data to help make smarter marketing decisions. You can also get more done faster by streamlining your workflows and internal communications.
So, what can you expect from MarTech in the coming years? Here’s a closer look at anticipated developments in marketing technology.
What Is MarTech?
Even if you don’t realize it, you likely depend on MarTech platforms for some of your marketing processes. Your preferred content marketing system (CMS), email marketing platform, and advertising platforms are all examples of marketing technology.
The group of technologies that you use to conduct and optimize your marketing activities is often referred to as a “MarTech stack.” While each business has unique marketing needs, most MarTech stacks include tools for planning, launching, and monitoring marketing campaigns.
The past two decades have seen marketing tools evolve rapidly. Thanks to developments in artificial intelligence (AI) and other technologies, the future of MarTech is likely to include more solutions for automating and optimizing your campaigns.
Privacy Is a Major Concern for Marketing Technology
Privacy is at the top of the list of issues that new marketing technology will address. Consumers are becoming increasingly concerned with privacy and security. Most people don’t like it when companies share their personal data with third parties. About 86% of the population is concerned about data privacy.
Government regulations and tech companies have also limited access to certain types of data. Consumers frequently have the right to refuse to share data, which limits data-driven marketing strategies.
Many current marketing tools make it easy to give customers the option to opt out of sharing data. You can expect marketing technology to continue implementing privacy features to ensure compliance with all laws and platform requirements.
MarTech Will Allow for Greater Personalization
MarTech software is likely to continue providing new ways to personalize your marketing campaigns. While privacy is a major concern for most people, they also want a personalized experience.
Consumers continue to share first-party personal data. This data is used to help personalize marketing content to individual consumers. Targeted emails, social media messages, and other custom content help build trust with customers.
Marketing personalization is already widespread, but the future of MarTech will likely make it more effective, thanks to the advancements in artificial intelligence (AI).
AI-based personalization allows for targeted marketing in real time. AI can analyze user data to create the optimal customer experience. 87% of companies already use AI to improve their email marketing.
Other uses include:
- Personalized messaging
- Ad targeting
- Personalized content
- Custom websites
- Product recommendations
In the coming years, you may also see more AI-powered chatbots and avatars for interacting with customers. Chatbots and avatars will be able to gather more accurate data through customer interactions, increasing the effectiveness of marketing personalization.
Future MarTech Will Provide Highly Targeted Segmentation
Artificial intelligence has increased the ability of marketing platforms to target specific demographics with greater accuracy. Marketers now have access to AI-based market segmentation.
Segmentation strategies help marketers make better use of their marketing tools. You waste less marketing money by focusing on the portion of the population that’s more likely to buy your goods.
Traditionally, marketers rely on studies, feedback, and historical data to identify segments of a market. AI software can analyze data from large swathes of the population for faster, more accurate segmentation.
Improving your segmentation strategy also allows you to target those who don’t like sharing data. Using AI-based segmentation makes it easier to deliver a more personalized experience without personal data.
AI-Based MarTech Will Provide More Sophisticated Analytics
Along with greater personalization and segmentation, AI is at the core of future analytics solutions. You can already find analytics software that incorporates machine learning (ML) for improved decision-making.
Unfortunately, machine learning solutions are often too costly for small to medium-sized businesses. ML software should become more accessible to marketers in the coming years. Increased adoption of ML software will lead to more products and lower prices.
ML software will also gradually become more reliable, efficient, and effective as developers tweak and finetune its performance. One of the key elements of machine learning is gathering data. As the software gathers more data, it can make smarter recommendations. custom medicine packaging boxes
Future MarTech May Start Incorporating NFTs
Public interest in non-fungible tokens (NFTs) has skyrocketed in the last year. Marketing teams have already leveraged the popularity of NFTs to push their marketing campaigns. This trend will likely continue in the coming years, paving the way for MarTech solutions that accommodate the management of NFT projects.
NFTs are designed to digitally represent almost any asset, including digital assets and physical assets. NFTs are sold to transfer ownership of real estate, art, and more.
Companies have started using NFTs in marketing to boost brand awareness and increase customer retention. As the technology is relatively new, you can expect a variety of marketing tools to experiment with NFTs in the coming years.
You May Someday Automate Your Marketing Campaigns
Many of the mundane tasks that you perform right now may become obsolete within the next few years. Future MarTech will continue to implement artificial intelligence and machine learning technologies. The automation solutions offered by these technologies will increase in scope and reliability.
You may eventually be able to let an entire marketing campaign run on autopilot. The software may perform market research, generate original copy, and launch campaigns on multiple platforms with minimal input.
The future of MarTech is likely to include increased reliance on artificial intelligence (AI), machine learning (ML), blockchains, and non-fungible tokens (NFTs). These same technologies are also starting to revolutionize almost every aspect of the way businesses operate.
Along with aiding marketing and advertising, AI and blockchain technologies are increasingly used in manufacturing, healthcare, banking, retail, and a growing list of industries. If you want to stay ahead of the competition, embrace AI and blockchains to make better use of MarTech in the coming years.