October 1, 2020
Emerging Trends in Marketing Technology
The customer buying journey is constantly transformed with the way that brands and corporations choose to engage with the target audience and their devices, as well as how marketers think about marketing technology investments. These days, the top industry leaders are the people who are responsible for selecting and evaluating the newest technologies, and marketing technologies have become a core capability for many marketing teams.
Digital Marketing Benefits
Companies see plenty of benefits with digital marketing, including access to an insurmountable amount of data that can enable their data-driven decision-making. However, companies have to be careful with this, because what used to be considered marketing in the past – storytelling – these days has turned into a million different short-term revenue drivers.
Chief Marketing Officers (CMOs) must be careful in their choices if they want their companies to remain relevant, and widen their focus to take in all of the different aspects of the customer experience. If the brand or corporation is able to manage all of the interactions between the customer and the company and create an experience for the customers that are going to add value to their lifestyles, the company is going to be very successful.
Challenges in Ad Targeting
Online advertising is heading towards a big change because right now, big companies such as Google are broadcasting third-party personal information about whoever is browsing to many different companies that can serve that person ads. Then, these companies can bid on which ad they are going to be displaying to each person in real-time.
However, with the introduction of the GDPR as well as many other new similar laws, sharing third-party data has become problematic, which meant that Google had to announce to stop broadcasting some of the personal information that it has gathered so far. This has made ad targeting a lot more challenging, and has increased the costs of good leads for companies, and has made first-party collected data a lot more valuable.
IT used to be very popular in the past, and then it became less and less so, with the rise of social media platforms. However, email marketing has been making a slow comeback, and more and more marketers have started focusing on it a lot more.
As we mentioned previously, with GDPR and similar laws, targeting ads to the right people has become increasingly difficult. However, companies which already have a large customer base interested in their products or services have been fighting back as those same customers tend to be the type of people who sign up to email lists.
Many marketers have realized this and have started creating a lot more engaging content for their email campaigns, and relying on this marketing channel a lot more than they used to in the last few years. Companies have started introducing interactive emails to make the overall customer experience a lot better, and encourage action from them by making everything quicker and easier.