MarTech Trends for 2023
According to Gartner, the percentage of marketing-related technology (MarTech) usage dropped from 58% in 2020 to 42% in 2022. And this is despite “significant investments”, according to the company. This prevents the full potential of technologies that automate many processes in an area that is essential for the promotion and growth of a company from being realized. However, this may soon change.
With the worst of the pandemic over, 2023 could be a big year for MarTech. In fact, according to Benjamin Bloom, vice president analyst at Gartner in the Marketing area, “investments in technology are a priority for CMOs and show that their ROI is more crucial than ever.” In this post, we tell you what some of these trends may be for the next twelve months.
What is MarTech?
MarTech is the union of marketing and technology. Specifically, it is the software tools used by corporate departments to design and execute campaigns, define objectives or analyze results.
By using technology, the results are refined and the productivity of these workers increases. But it is also possible to have a more direct or closer relationship with customers.
MarTech Trends
Below we list the main trends that will shape the MarTech sector in 2023:
Automated and Geolocalized Ads
Once the copywriter has created the ad and uploaded it to the platform, the technology works its magic to make it appear at the right time and to the right person.
A suitably trained Artificial Intelligence can do this job and, as with so many tasks, leave the creative writing and design part to the employees and the decision-making after getting the metrics.
In the meantime, we could also hear more news about geolocated ads. Once users share their location, the platform would distribute ads according to this or to the event, act… that was held in that location. It should be noted that not all users will want to share such sensitive information, so marketing campaigns could focus on a reward they would receive in exchange for providing it: discounts, gifts, or accumulation of points…
Metaverse and NFTs
The Gartner report also noted that CMOs showed interest in emerging technologies such as NFTs.
Fifty-nine percent of respondents said they were already exploring or testing the creation of NFTs, while 62 percent showed interest in studying and testing technology for advertising campaigns in the metaverse.
Email Marketing
There are more and more newsletters on a wide variety of topics. The content of some of them is of such value that their recipients pay to receive them.
The newsletter arrives in the email of each user, who decides when to open and read it, unlike social networks that display content to the user according to the algorithm. Each email marketing provider provides its own analytics (open rate, clicks, new subscribers, unsubscribes…), which, well analyzed, can inspire new ways to get leads.
Segmenting the database brings with it possibilities such as creating audience groups among people who have already bought something or who have not yet done so but might do so because they have clicked on it.
At the same time, platforms with fewer utilities are becoming popular that seek simplicity in design or delivery, while at the same time managing the payments that users make for receiving the newsletters. This is the case of Substack.
Influencer Platforms
A database in which to manage influencer opportunities allows companies to better manage options for working with a loyal audience, whether niche or mainstream. TikTok and Twitch continue to occupy a place where YouTube and Instagram still have a lot to say.
The platform can be used to filter by the number of followers or create custom profiles in which to store information such as message exchanges, signed contracts, or results achieved with joint campaigns.
At Plain Concepts, we know how to help you create a data platform to manage influencer profiles or for other reasons.
Chatbots
We have talked on occasion about chatbots and how these virtual assistants supplanted many customer service functions during the pandemic, confinement, and social distancing. Chatbots can be more or less complex depending on the needs of the company, and in any case, they always allow employees to focus on more productive tasks.
Podcasting
Just as confinement increased the consumption of VOD platforms, it also increased the listening of podcasts, while new formats, amateur or professional, were created. It is a format that can be consumed while cooking, driving, or cleaning, which gives it great versatility.
According to Statista, 620 million people worldwide were listening to podcasts by the end of 2021, 88.3 million more than in 2020, and the figure is expected to approach 962 million in 2027.
Against this backdrop, you can bet on an entire podcasting program or platform. With them, branded content is created: products or services offered by the company, corporate social responsibility, and corporate news.
In addition to the technological or digital notion of the podcast itself, to make a quality product you also have to bet on the quality of its production: good microphones and editing software help to achieve a professional finish that raises the quality of the program and that the user appreciates.
How to maximize investments in MarTech
Due to the, in some cases, little use of the investment made, we recommend that you define technology utilization goals in the team’s objectives. In this way, the expenditure will be better utilized.
These are the trends of a technological area that allows you to be more productive in marketing and save costs, while improving customer relations. If you want to make the most of these new trends or explore other MarTech paths, we can work with you.
