The MarTech world isn’t standing still in 2023 - on the contrary. Last year, many trends in the MarTech industry evolved. Some of them remain relevant this year, others are new. In this article, we explain what they are and what else you can discover in the MarTech world.
Here are our top 5:
- Artificial intelligence and chatbots
- Video content
- In-game ads
- Virtual reality / augmented reality
- Customer data platforms
1. Artifical intelligence and chatbots
Artificial intelligence (AI) is conquering the market, and not just ChatGPT and DeepL Write. This trend has grown in importance for years and will continue to do so in 2023. These developments shouldn’t be ignored in marketing, as they offer a lot of potential. For marketers, AI and chatbots can improve customer interaction and achieve marketing goals. For example, the retail giant Alibaba has opened a physical “FashionAI” shop in Hong Kong to optimize fashion retailing through artificial intelligence.
Below you’ll find some ideas on how you and your team can implement the trend operationally:
- Personalized marketing communications: AI can analyze customers’ behavior, preferences, and context to create personalized marketing communications. You target customers more effectively, leading to higher conversion rates.
- Customer support: chatbots can answer customer queries quickly and efficiently. They can also automate simple tasks, such as booking appointments or tracking orders. This saves you time and manpower.
- Marketing automation: AI can automate and optimize marketing processes. For example, automated email campaigns can respond flexibly based on customer behavior.
- Content optimization: AI can measure and optimize content effectiveness. For example, AI can identify certain keywords that increase customer engagement.
- Social media management: AI can monitor and analyze social media platforms to identify trends and improve social media strategy.
Overall, AI and chatbots in marketing increase the effectiveness of marketing campaigns, improve customer interaction, and strengthen brand loyalty.
2. Video content
Video is king!? For years, creating and publishing video content has increasingly displaced classic written posts. TikTok fueled this development, and that video portal’s approach is being copied by social networks like Instagram with its Reels.
Video content serves as a marketing tactic in many ways:
- Tutorials and how-to videos: videos that show how to use your products or services help users better understand your products and build a stronger bond with your company.
- Introducing your company: a video that introduces your company and your employees is more engaging than plain text.
- Live streams: live streaming platforms like Instagram Live keep your users up to date and interact with them in real time. Possible uses are exhibitions, product launches, interviews, PR events, etc.
- Customer reviews: videos of satisfied customers who recommend your products or services can be more relatable and compelling than testimonial blurbs.
- Social media marketing: social media platforms such as YouTube, Facebook, Instagram or TikTok facilitate publishing short, entertaining videos that promote your brand.
- Event announcements: videos that announce events such as product launches or industry conferences help grab the attention of users and increase attendance at the event.
- Online courses: video courses where you share your knowledge and expertise establish your brand as a trusted source of information in your industry.
3. In-game ads
In-game ads are product placements in online games. They’re increasingly important for a variety of reasons:
- Growing popularity of mobile gaming – this target group is becoming larger and more heterogeneous.
- Higher interaction rates than with traditional advertising.
- Personalization options based on gamers’ behavior.
In-game ads extend marketing departments’ reach to specific target groups and increase brand awareness. A well-known example is the collaboration of the video game Fortnite and Nike’s Jordan brand.
You have several options:
- Targeted placement of ads: in-game ads can be placed specifically to appeal to the target audience, for example in games with a certain age group or niche.
- Integration of brands into the game: marketing departments integrate their brands into the game to attract the attention of players.
- Sponsorship of games: brands sponsor games to increase brand awareness. You can sponsor a game and place your logo on the home page or in the game.
- Incentive advertising: incentivized advertising motivates players to watch ads.
4. Virtual reality / augmented reality
While the metaverse remains quite experimental, virtual reality (VR) and augmented reality (AR) are increasingly important. But what’s the difference between these two technologies?
AR augments the real world by integrating digital elements into the user’s natural environment. It’s often used on mobile devices.
VR, on the other hand, provides a fully digital experience that immerses the user in a completely virtual environment. A classic example of this is VR headset.
The advantage of this trend is that it’s still in its infancy, at least on an everyday level. That’s one prime reason why your company should implement this trend at an early stage. Other marketing benefits of AR/VR include:
- Product presentations: VR and AR can present products interactively, going far beyond traditional 2D presentation. Potential customers can experience a product in VR or AR and develop a better understanding of its functions and features.
- Brand engagement: VR and AR create an interactive brand experience where customers are immersed in a virtual world, interacting with the brand and experiencing it first-hand.
- Interactive advertising: VR and AR can be used to create interactive ads that capture the attention of the target audience.
- Event marketing: VR and AR provide customers with an interactive experience even when they’re not on-site. VR creates a virtual presence for customers that makes them feel like they’re participating in the event.
All these possibilities can be supplemented by another option: holographic technology. This allows products to be displayed in 3D or holographic displays at the POS to present products to customers.
5. Customer data platforms
A customer data Platform (CDP) is software platform that collects, integrates, and manages customer data from various sources. CDP provides a unified view of the customer by bringing together data from different channels such as email, social media, web analytics, and other systems. Examples of CDPs include SAP, Emarsys, Klaviyo, and Microsoft Dynamics 365 Customer Insights.
In contrast to customer relationship management systems (CRM), which are particularly important in B2B marketing, CDPs are especially suitable for B2C marketing.
So how can you use a CDP to optimize your marketing strategies and campaigns while better understanding your customers?
- A CDP serves as a central repository for all customer data, including demographics, behavioral data, and purchase history. A CDP’s centralized and managed data results in more effective and efficient use of data.
- A CDP helps creating personalized marketing campaigns. By analyzing customer data, marketing messages can be tailored to customers’ needs and interests.
- A CDP drives consistent omnichannel marketing. By linking data from different sources, it’s easier to understand how customers interact across different channels.
- A CDP can be used to analyze the customer journey.
- Target group segmentation is also possible with the help of a CDP. By analyzing customer data, target groups can be defined based on common characteristics or behaviors.
What's on the horizon?
What can we expect in the coming years? All the trends mentioned here will continue to develop. AI and chatbots will continue to permeate our lives and become so intuitive that you could almost forget that you’re not interacting with a natural person.
Trends like podcasts and influencer marketing will also continue to develop and change. But even partially written-off trends, such as classic email marketing, can hope for a comeback due to the increasing trend towards 1:1 marketing, while this simultaneously fuels other forms such as SMS or WhatsApp marketing.
So, the MarTech landscape remains exciting!
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