Are you a marketer wondering what 2024 holds in Martech for you? The Martech market is constantly moving, and innovation and transformation are the norm here. New tools and trends pop up left and right. So, you must keep a sharp eye on what could be the next addition to your martech stack.
In this blog, we’ll take you on a journey into the future of marketing technology, highlighting six key MarTech trends that you should consider integrating into your marketing strategies for 2024.
1. Hyper-Personalization
89% of marketers have seen a positive ROI from personalization in their campaigns. And what’s exciting about hyper-personalization? Well, its martech stack goes way beyond the basics. Think real-time data and advanced analytics. They help understand each customer’s unique preferences, behaviors, and needs.
Simply serve the right content at the right time through the right channels. And the results could be:
- Improved customer experience
- More conversions
- Better brand loyalty
For instance, MobiKwik has been nailing in personalization with CleverTap. Their personalized messages reminded users about their utility bill due dates. They also automated welcome campaigns to help new users explore their apps.
2. Human-Like Chatbots
Would you believe that 74% of customers prefer chatbots over talking to human agents? This inclination has spiked the global chatbot market size growth at a 23.3% compound annual growth rate by 2030.
“Reason?” you may wonder. Chatbots excel at handling inquiries. Plus, they can guide users. They can also drive sales. With NLP to mimic human conversations, having chatbot capabilities in their martech stack is a real win for brands.
Take Maharaja, Air India’s AI Agent, for example. It can handle bookings, cancellations, baggage policies, loyalty programs, and more. You’ll get quick and accurate responses.
3. Podcast Tech
Turns out, 33% of American adults are regular podcast listeners. Moreover, searches for “podcast hosting” have increased in the last five years.
Why is this such a big deal for Martech? Well, podcasts are a terrific way for brands to talk directly to their audience. You can choose who to reach, keep your audience engaged with your brand, and build a stronger community.
Brands like Sephora Collection, Johnson & Johnson, Microsoft, and Slack have been showing how branded podcasts can take marketing to the next level. But today, podcast requires more than a host and guest. It requires tools for editing, scheduling, marketing, and more. And that’s exactly where Martech is headed!
4. Focus on Customer Privacy and Data Security
“… Agencies will want to follow the evolution of data collaboration and ID resolution and have a good grasp of concepts across the landscape of identity partners, customer data platforms, and data clean rooms to future-proof their offerings.”
— Maria Orozova, Founder of MODintelechy (Source)
2024 may see a whole shift in how organizations and customers view data. On the one hand, businesses are collecting data. But customers are more aware now. They’re concerned about being tracked online without their say.
So, the smart move is finding a fair exchange of data for value. Brands need to make sharing data okay. Plus, it should be enjoyable and beneficial. Safety, trust, and transparency in data collection is key.
Data privacy and security companies like BigID, Immuta, and TrueVault offer data security, privacy, & compliance platforms, data discovery, classification, loss prevention solutions, and AI automation for data governance. The aim is to protect enterprise and customer data from phishing, ransomware, malware, and malvertising.
5. Voice Search Optimization
Siri, Alexa, and Google Assistant have made voice search optimization a big deal. There are over 1 billion monthly voice searches. And more than 50% of adults use it daily. So, businesses must adapt. The new SEO focus should be on:
- Long-tail keywords
- Natural language phrases
- Questions that start with who, what, where, when, why, and how
- Local SEO for the ‘near me’ searches
Let’s look at MakeMyTrip. They’re rolling out an AI-powered voice chat service. It will be integrated into their mobile app and website. This voice assistant analyzes user preferences. Then, it smartly suggests holiday packages from a vast selection.
6. Omnichannel Communication
Did you know that customers who shop across different channels stick around longer? Yes, that’s a 30% higher lifetime value. This makes omni-channel communication a must in 2024. In fact, 87% of retailers understand its critical role in success. After all, whether it’s a website, social media, mobile apps, or in-store, the aim is a consistent customer experience.
A great example is H&M. This Swedish fast-fashion giant is expanding in India. They plan to open 6 more stores in 3 new cities by the end of 2023. Plus, they aim to increase their online sales.
Conclusion
Whether you’re a seasoned marketer or a business owner looking to enhance your digital presence, we hope his insightful exploration of MarTech trends inspires you to propel your marketing efforts to new heights. The future of marketing technology is here, and it’s time to embrace it to secure your brand’s success in the years to come.
And if you need any assistance, Impulse Digital is here for you!
We are a team of creative minds who lead the way with data-backed approaches. Our digital experience and knack for staying ahead of the curve make us just the right digital marketing partner for you. What do you think?
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