Marketing Tech Trends CMOs should look into in 2021

Marketing Technologies

All the flashing images we used to see on stock sites with colorful wires and random numbers and shapes when we searched for ‘technology’ are becoming a reality today. Every single day, there’s a new development and some new tech knocking at our doors.

In this ever-evolving time, CMOs are always on their toes, hunting down ways to employ the new technologies that can give an edge to the organization.

After the Covid budget cuts, and the physical unavailability of people, technology and software has developed so rapidly that it has become a part of marketing in 2021. If you are willing to make a difference, here’s what you should be looking into:

1. Artificial Intelligence and Machine Learning

AI

Artificial Intelligence and Machine Learning have already made their way into marketing and many marketers have increasingly been relying on these technologies to achieve better efficiency. 

AI in particular is being used in all kinds of processes. AI tools help marketers and salespeople listen to their prospects on social media, track their important conversations and opinions.

ML tools help in risk prediction, PPC campaigns, etc. AI and ML together are a powerful combination to use for content management and creation. It takes care of Automated replies to queries and optimizing consumer content viewing.

Why is it important in 2021?

As sales and marketing become more complex and new tasks emerge, it requires the attention of the marketers. AI and machine learning tools can handle smaller tasks, which leaves the rep to focus on what actually matters.

54% of executives say AI solutions implemented in their businesses have already increased productivity. It is a time and cost-effective measure, which has a bonus point of making quick and meaningful interaction with a consumer or prospect.

2. 5G

5G

While some people are gratified with their internet speed, some crib and complain. But the much-anticipated future of 5G networks is almost here, with all its promises of dazzling speed and connectivity and technical terms that are irrelevant.

This means the amount of time spent on the internet will increase by manifolds, content quality will be better than ever ; And all buffering circles will vanish into thin air. Thus, your online presence will have to be sharper, the content more optimized for all kinds of screens, ads more interactive and consumer-friendly and if you are using XR, that’s a whole different story.

Why is it important in 2021?

5G has rolled out across the U.S and it is only a matter of time before it is made available in countries with diverse and lucrative markets. All the effects of 5G as mentioned will have to be taken care of if you want to survive in the business. But, on the bright side, data collection and analysis will become easier. In short, 5G is going to blow your marketing program away.

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3. Extended Reality

extended reality

Extended Reality (XR) is a representative term for all reality technologies that are used in marketing ; Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). It also includes technologies that haven’t been invented but will in the future use a combination of real and virtual elements to extend an immersive reality.

If you are working in retail, XR technology can help you create a platform for users to try out the product before they make a purchase. Also, Healthcare professionals and doctors can use it to create hypothetical situations and learn to work their way out of them with provided tools. In mainstream marketing, XR actively engage with prospects and also connect remote workers to the main team.

Why is it important in 2021?

1 million customers in the US are already using AR every month and 39% of companies are now using AR for the consideration phase. Since the future is all about the idea people associate your product with, XR is going to constitute an important part of your marketing strategy as they help consumers conceive a perception about products, with 360-degree videos, virtual stores, and apps.

4. MarTech Solutions

Martech

To first familiarise you with MarTech, it is an abbreviation of Marketing Technology. It is an umbrella term for all software and tech products that assist marketers in planning and executing marketing campaigns.

A personalized customer experience is now the major differentiator between brands and the motivation to buy is changing from consumer to consumer. So, different segments in a market will have slightly different customer journeys. It also means that a one-fits-all marketing strategy will not work.

Hence tapping into behavioral and data sciences to understand the consumer is necessary and the traditional technological platforms are insufficient. There is a need to use tools and solutions that can work through complex journeys. According to MarTech blogger Scott Brinker, the number of MarTech vendors has soared from 150 in 2011 to almost 4,000 today, which only justifies the demand for the technology.

Why is it important in 2021?

The world is becoming more digital every passing day, and MarTech makes it easier for marketers to delegate and perform tasks. Having an aligned MarTech stack is both cost and time-effective and en route to becoming a necessity.

5. Data as a Tool

data

Digitization of markets and brands has really boosted customer expectations around the globe. Big organizations have become less focused and non-personalized marketing campaigns have become equivalent to firing shots in the dark (a recipe for downfall, basically.) In 2018, 63% of marketers out of a surveyed 250 said that data quality is extremely important for sales and marketing.

Marketing now is heavily reliant on data, in two ways.

  • One, if you are not collecting data from your digital assets, you might as well shut your gates because data tells you what is happening instead of what is supposed to be happening.
  • Secondly, data-backed stories attract clients because they provide immediate background information, research, and food for thought as to how a particular transaction will be beneficial.

Why is it important in 2021?

Data stories are definitely here for the long haul, considering the reliance marketing departments are putting into it. Also, It helps create targeted marketing campaigns that yield results and bring insights that are extremely crucial.

Closing Thoughts!

2021 is not a new year anymore; we are six months into it and have six more to go. Some of these technologies have already shown their signs in the market, and the rest are to follow. There is absolutely no way that you can go head-to-head with your competitors if you choose to ignore these trends.

After the debacle called the year gone by, data-driven marketing, recovery of consumer interests and finances are showing optimistic trends. And People are ready to buy again and you want to capitalize on this as much as you can. The way out? Take action on these technologies and figure out ways to incorporate them in your marketing plan.

However, if you feel stuck and confused about where to begin, you can seek help from B2B experts. Their experience and expertise will not only help you carve a successful way ahead but also ensure significant results!

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