In the past decade, marketing technology (Martech) has evolved enormously, and it is expected to grow further in the mere future. 2021 provides marketers and organizations with an opportunity to enhance their work process to overcome the challenges and obstacles faced in the previous year. Marketers expect that over four areas specific around analytical marketing technology will be areas of scope for martech progress in 2021.
The marketing department and businesses may face many spending limitations and budget constraints amidst the pandemic’s turmoil. However, marketing technology was not a sector that was widely being affected, instead, a survey from ClickZ demonstrated that the marketing technology budget shares witnessed a massive rise from 32% to 42% from May to late July 2020.
Read on to understand where businesses show interest in investing and which technologies will dominate in the coming year.
Content Marketing Platform (CMP) is one of the top categories which was dominating the marketing technology progress in 2020. CMP is a software tool that allows marketing teams to handle and streamline all the marketing processes starting from ideation and planning activities to collaboration and approvals.
During the lockdown, people being indoors and exploring various things and scenarios can be considered one of the prime reasons businesses are continuously looking to boost their target audience experience. With the pandemic changing the approach they reach their target audience, several CMOs and marketers are focused on exploring the tools to support in creating more relevant content quickly like webinars, blogs, ebook, and whitepapers to make up for the live events.
Hence, due to this growing demand, it is not a surprise that over 20% of the marketers will be potentially investing in CMP for their marketing organization.
Over 70% of the markers indicated that accelerating their campaign execution is of utmost priority for them. It is because enhancing productivity is a potential method for them to improve their brand performance. In addition to that, many organizations are becoming highly competitive with developing campaign strategies, so it is essential that the marketing team should be agile.
The main factor in running a marketing team (agile) is planning and executing the marketing campaign on time. Instead of spending a lot of time working on the execution, it is crucial to find different ways to automate the campaign execution process. For instance, campaign execution through manual email marketing can be time-consuming, so marketers should find ways to automate the process to quicken the execution.
Remote working can sometimes hinder the marketing campaigns from quick execution. In that case, technology usage can be beneficial in streamlining the process and implementing the marketing workflow for completing the campaign related work quickly. Suitable tools can help in efficient collaboration and execution even while working remotely.
The pandemic and lockdown have potentially highlighted that benefits of apps offer both consumers and brands and even for the government to streamline the process during a pandemic in 2020 efficiently. This transformation has led to potential acceleration towards an app-focused world. Likewise, in 2021 it is more common to see businesses and marketers investing in apps and utilizing them as a primary channel to communicate with their customers. Companies need to invest in apps to stay ahead of the competitors with mobile technology as their key strategy.
Data exploitation has always been a concern, and it may bubble up in the future due to the digital transformation. Cybersecurity has always been a massive concern for marketers and now becoming more pertinent as consumer data is highly decentralized and more cloud-based apps are evolving. Finding ways to strengthen an organization’s cybersecurity is vital to convincing customers that their sensitive data will not be stolen, shared, lost, or misused.
The interest around marketing technology may seem to differ from time to time, with a new category entering and exiting the spotlight. AI also never loses its buzz because the technology is endlessly applicable and powerful.
We already witness that AI is widely leveraged in marketing strategies such as predictive analytics, chatbots, deep learning, etc. The potential of the technology remains great, and it is believed that this will continue to witness it in the mere future. Several types range from AI, which can dynamically adapt to technologies that create novel models to explain specific challenges. Marketers expect to see how formative AI can play a vital role in marketing to drive more engaging and personalized B2B marketing.
For businesses, their top priority is to retain their customers that they have acquired throughout the year, especially retention is critical when we are progressing to the relatively normal scenario. Figuring out approaches to build a more beneficial app can help with their process of customer retention. The covid-19 has proven the need to progress one step further and triggered to think what customers really need, especially in times of pandemic. To be a successful brand, it is essential to stand in the customer’s shoes and understand even the small things that you can do to make their lives better and easier.