MarTech, also known as marketing technology, includes a wide variety of software and tools companies use to achieve their marketing objectives. To keep up with ever-evolving technology and buyer behavior, MarTech trends continue to change.
Different companies invest in different marketing technology strategies. Some are fine with using only one, while others prefer a mixture of various approaches to ensure a more extensive audience reach.
Which MarTech platforms, technologies, and overall strategies should be on businesses’ radars in 2023 to help them get an edge over the competition?
Top 5 MarTech trends in 2023
The right marketing strategy can make or break a brand. Whether companies decide to focus on a specific strategy or a combination of different ones, they must keep up with the trends.
Here are the top five MarTech trends to look out for in 2023.
Artificial intelligence
Artificial intelligence and machine learning are incredibly versatile fields used by marketing experts in various situations. Although it’s not a “new technology,” experts constantly find ways for AI to help companies with marketing initiatives. From social media to lead nurturing, artificial intelligence continues to reign supreme across various use cases, industries, and applications.
A few examples of new use cases of artificial intelligence, specifically in the world of MarTech, include:
- Zero-party data gathering
Big data is undoubtedly a must-have tool for companies. However, global privacy rules created a bit of a conundrum regarding data collection methods. In the coming year, the MarTech industry will see organizations taking a proactive step in their data collection methods with short and concise forms and higher success rates.
- Multilingual marketing
Most data published online is in English, which isn’t user-friendly for a global reach. Over the last few years, machine translation began helping automatically translate some of these materials. Machine translation post-editing (or MTPE) is the newest iteration of this tech and is already gaining popularity in the digital marketing field. It will undoubtedly explode in use cases in the coming months.
- Push notifications for ROI
Email marketing efforts are dwindling in effectiveness as users’ inboxes flood daily with offers and campaigns. It only makes sense that, as users grow even more dependent on mobile devices for all of their online activities, companies utilize push notifications to attract customer attention. AI helps pragmatically attract customer attention with these notifications.
Digital out of home (DOOH) advertisement
This MarTech trend is an evolution of billboards and other signs people find on the street, intended to grab their attention. Nowadays, people live busy lives and are too engaged or occupied going from point A to B to stop and stare at a billboard unless the billboard calls to them.
This is why companies invest in placing their ads on screens wherever possible. Public transportation, shopping centers, business buildings, and many other places display digital marketing ads that easily capture people’s attention. Several companies in Asia and the US continue to invest in 3D billboards as a way of effective and engaging advertising.
Some of the major benefits of using DOOH advertisements include the following:
- Reaching a larger audience
- Targeting without being intrusive
- Not being susceptible to ad blocking
- Having high engagement rates
Shoppable video ads
The idea behind this type of advertisement is to feed the viewers’ desire to acquire something they see on a video or TV show without leaving the content itself. From purchasing an outfit worn by a favorite character to booking a trip to the beach that’s currently on TV, the opportunities are endless when customers only need to click on the actual ad that they’re seeing in real-time.
Companies can easily increase their conversion rate by simplifying the purchase journey for customers. They can do this by promoting and selling their products and services directly off each streaming platform.
Some current major shoppable video platforms include Instagram, TikTok, YouTube, and Amazon Live. These platforms understand the value these ads can bring to brands and ensure that creating shoppable videos is simple for both sellers and consumers.
VR-based tools and apps
The Metaverse is fast approaching, and companies must create hybrid and virtual reality experiences that fit into this world. Companies should begin investing in VR and AR tech as virtual try-ons, while filters will continue to have a massive impact on 2023’s marketing landscape.
Big companies like Sephora and Ikea have already created marketing strategies using VR technology to promote their products and services. Many other companies are likely to follow, as using VR in marketing comes with several benefits, including:
- Impressing users and clients
- Facilitating the engagement between a user and a product
- Reducing the workload of sales teams
- Making it easy to deploy campaigns
Conversational UI
Conversational UIs, commonly known as chatbots, will be another source of investment for companies. Chatbots definitely aren’t anything new. However, their use cases continue evolving as site visitors get increasingly impatient. Instead of browsing and scrolling, users want instant, streamlined services as fast as possible, or they bounce. This includes chatbots, live chats, virtual assistants, and even personalized emails.
In the coming years, Google will be ending third-party cookies in Chrome, which will have a significant effect on Conversational UI. Marketing agencies won’t be able to use data collected from cookies to target audiences, so marketers must develop more “one-on-one” marketing tools to make every user feel unique and seen, and generally attract people to their brand. Consent runs parallel with these advancements, and user privacy is becoming more important than ever.
Bonus trend: outsourcing to digital marketing agencies
A major trend that will continue to escalate in 2023 is outsourcing to digital marketing agencies. Working with outsourcing providers allows companies access to talented professionals without investing too much time and money.
Small businesses and start-ups should consider outsourcing to digital marketing agencies as it might help them make big moves in the industry. Leaders can focus on core business tasks, instead of wasting time on extensive recruiting processes, while a team of outsourced experts creates customized marketing campaigns tailored specifically to their businesses.
Keeping up with marketing trends is essential to stay ahead of the competition. Marketing strategies continue to evolve as marketers try to spread their messages and promote products and services in continuously innovative ways.
Artificial intelligence and VR technology advancements will set the pace for MarTech trends in 2023. However, there will also be a big focus on Digital out of Home (DOOH) ads, shoppable video ads, and conversational UI integration.
An overall marketing trend that continues to grow involves outsourcing to digital marketing companies. This business model allows companies to save time and money, by not having to recruit in-house professionals, while still having access to marketing experts worldwide.
Investing in one or several of these trending marketing strategies can give businesses the competitive edge they need in a world where consumers are constantly bombarded with information.
