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Top 3 MarTech Trends To Watch Out For In 2023
The tech-submerged world we reside in exposes an average Internet user from 4,000 to 10,000 ads every day while scrolling social media, streaming a show, or browsing online. Only the most impactful advertising is likely to be remembered.
Marketing technology, or MarTech, refers to software and platforms that help brands and businesses achieve marketing goals. MarTech does not happen overnight but emerges and fades from the limelight.
As we unveil the new year, some trends continue influencing marketing and offering the space to succeed. Here are three MarTech trends that will impact the world of marketing tremendously. If you’re not using one of these, you’re losing out on an excellent opportunity to expand.
Customer-Centric Artificial Intelligence
Artificial Intelligence technology has been primarily used to ease the workload. However, the question in 2023 is: Can brands use AI to improve the on-demand consumer experience?
The discovery of AI information and art-generating platforms like ChatGPT, Midjourney, Stable Diffusion, and others allowed the use of natural language to request art beyond imagination and access to vast knowledge about everything.
2023 is set to introduce customer-focused AI technologies.
- Natural Language Processing (NLP) gives computers (or AI) the ability to understand text and spoken words like humans can. For example, support chatbots and other digital interactions.
- The Internet has transformed to serve consumers; therefore, understanding consumer sentiment to push your brand to success is essential. Voice and visual recognition technologies help improve user experience by detecting consumer emotion.
Emphasis On Personalization In Marketing Campaigns
Personalization is how brands tailor experiences or interactions based on the company’s information about its audience. Personalization has grown in marketing campaigns and has successfully driven engagement to individual-focused content.
44% of users say they are willing to switch to a brand that promotes tailored marketing materials. Therefore, learning about your consumers can help attract buyers and build relationships. Brands that deliver personalized shopping experiences can expect the following benefits:
- Boost Repeated Purchase
- Increase Brand Engagement
- Improve Brand Visibility
- Drive Brand Loyalty
Targeted email, influencer marketing, and customized video messages are well-known personalization opportunities. The following personalization trends have risen in the first half of 2023:
- The future of cookieless reality is near. 28% of consumers feel less control over their data and demand personalization that is not at the expense of their privacy. Apple and Firefox already block third-party cookies. Google announced blocking third-party cookies in 2023.
- Personalization doesn’t need to be limited to the user’s purchase duration. Retailers can attract consumers with personalized deals or rewards based on the purchase history. 55% of consumers say they join loyalty programs for customized rewards.
Omnichannel Marketing For The Win
Customers are unpredictable, and their actions during the buyer’s journey reflect this. As a result, brands are now expected to create high-quality experiences across all active channels. The results of an omnichannel are profitable, as a recent study found that marketers using multiple channels earned a 494% higher purchase rate than single-channel market users.
Marketers and businesses must connect digitally with the target audience to create engaging omnichannel content. AI-enabled automation can be of great help in developing consumer-focused strategies. AI helps understand a consumer’s channel preferences and redefine user engagement for brands.
In addition to omnichannel marketing gaining tremendous traction, mobile commerce trends will also follow as smartphone use rises.
Takeaway
Despite the economic slowdown, experts predict that 2023 could be a big year in the MarTech world. In addition, the pandemic immensely helped in pushing digital transformation into the spotlight.
Between continuous optimization of brand value, persistent focus on consumer demands, and the evolution of marketing function, marketers will undoubtedly face challenges in 2023. However, MarTech is a boon that shapes a sustainable digital universe where technology and nature thrive and co-exist.
