Top 5 Martech Trends in 2020
MarTech has evolved in order to keep pace with the changing consumer behaviors. With the industry growing faster than ever, the year 2020 promises to bring out some exciting marketing technology developments.
1. Automation is the future
Automation is not a new concept but the amount of marketers that rely on automation nowadays has grown drastically. Spending for marketing automation tools is expected to reach $25.1 billion annually by 2023. (Source – MarTech Today) Automation is necessary nowadays as it helps take care of repetitive tasks across multiple channels and saves a tremendous amount of time. ADOHM, powered by Artificial Intelligence helps take care of all your automation needs. Right now, 68% of marketers are using automation and ADOHM aims to help the number grow with its great benefits. The key objectives ADOHM’s Automation helps you achieve –
- Optimize productivity
- Increase campaign ROI
- Improve campaign management
- Acquire more customers
- Improve database quality
- Align marketing and sales initiatives
- Measure performance more accurately
A great example is in this time of pandemic where everyone is under lockdowns and curfews because of Coronavirus, Automation is a great way to keep giving your customers a brand recall and marketing departments can also use it to automate tasks such as email marketing, social media posting, and even ad campaigns not just because of efficiency, but it also gives a more personalized experience.
2. Artificial intelligence to help improve all aspects of marketing
49% of the companies already have an artificial intelligence strategy in place to help with all their marketing activities. Artificial Intelligence is being used to understand and improve customer service and customer engagement, to collate and provide deeper data insights for increased personalisation.
The uses of AI that will be seen in the near future are going to grow. ADOHM, powered by AI helps marketers to Understand and plan their marketing campaigns which gives marketers real-time insights and significant reduction of marketing budgets being wasted.
3. Integrated Platform Based Ecosystems
One out of three marketing leaders have stated their marketing technology is not delivering any output, with C-level Management and other marketing executives expressing dissatisfaction with the lack of integration between marketing tools, CRMs and even within platform-based marketing clouds. The integration helps deliver scalability, measurability and a smooth functioning of the marketing process to help deliver a promise of better insights and real time feedback to the marketing activities.
ADOHM has solved this problem by integrating its marketing and sales suite. It is an Integrated CRM that helps provide timely feedback to the marketing suite in order to optimise ad campaigns in real time. The free sales CRM provides feedback on the leads generated through the marketing campaigns which provides feedback to the marketing suite about which platform is working best for the brand and yielding better results.
4. MarTech Spending will rise but the total marketing budgets will contract
According to the annual Gartner CMO Spend Survey for 2019-2020, which surveyed decision makers from the United Kingdom and North America has stated that the top-line marketing spend will contract for the first time in 5 years to 10.5% of company revenue which is a huge change to look out for.
Last year, martech spending rose to 29% of total budgets. However, the global marketing technology market is now valued at an estimated $121.5 billion, a year-on-year increase of 22%, (Source- Martech – 2020 and beyond).
The growth of new technologies, newer audiences and the need to get better results are making investing in MarTech a very important decision that needs to be taken. It is a kind of growth that companies cannot ignore for too long.
5. Investment in conversational marketing will increase
Conversational marketing is engaging with customers in real time to give them what they want when they need it. It is similar to the conversational tone of human conversational messaging, but really, it’s about immediacy.
Conversational marketing helps to engage customers in a conversation as soon as they hit your website in order to get them what they want with minimal attrition. If they want to speak to a sales person, for example, they it is no longer required for them to fill out a form or send an email and be contacted, they can simply ask and the chatbot can make them offers or recommendations in order to move them through your funnel faster or help solve their customer issue.
Another solution for companies is to have Conversational Landing pages where a bot offers conversations based on the needs and requirements. This feature is a great way to get rid of traditional landing pages which have high loading time, whereas conversational landing pages help kill the loading time and directly start a conversation with the individual. ADOHM has been helping brands with its feature of inbuilt chatbot to help brands with their chatbot needs.