More data steam for MarTech, AdTech world

The future of marketing and advertisement technology will be driven by advancements in AI, automation, and data science

Metaverse isn’t the only one that shook the innovation space in 2022. The industry can expect the year ahead to pave the way for significant changes in the AdTech and MarTech platforms. The bigger question is whether brands and companies are market-ready to earn people’s time, attention, and money.

With the pandemic pulling a gear shift in every sector, the marketing rulebook has had its share of expirations and additions in the past two years. With the year 2022 behind, one can look at a complete transformation to normalcy coming back after all the Covid-induced constraints. Following the noise in the AdTech and MarTech space during the previous year, here are some of the technologies that will define the marketing sphere in 2023.

Zero-party data gathering

Zero-party data is what a customer proactively shares with a brand. But what data are we talking about? It can be preference centre data, purchase intentions, personal context, and their identity for the brand. Here, consent is what drives the data for marketing usage. This data is used to improve customer experiences and target advertising.

In 2023, gathering zero-party data will become the norm for marketing spaces in businesses and organisations across all domains. A prominent trend in digital marketing will lead organisations to become more proactive in their data collection activities.

The emergence of AI in Martech

In the past, companies relied on various technologies and solutions to analyse data and track performance measurements. But they have still struggled to keep up with the market’s rapid changes. Thanks to big data analytics, companies are now more likely to continue embracing AI solutions to deliver better results.

AI provides marketers with real-time insights that help them make better decisions. It automates repetitive tasks, freeing time for more strategic work. In 2023, AI will get deeply incorporated into MarTech. It is set to cover every aspect of marketing, from customer segmentation and targeting to content creation and distribution.

The emergence of AI in AdTech

As AI gets better at understanding human behaviour, it will also become increasingly proficient at creating personalised customer experiences that will in turn drive engagement and conversions in the brand’s favour.

By 2023, video traffic is estimated to make up 80% of all Internet traffic, making it easier for MarTech companies to analyse reach, engagement, and RoI.

AdTech companies with the help of AI will now be able to target ads more accurately, personalise the user experience, and track engagement all under one platform. AI will also help improve the efficiency of campaigns by reducing the cost of advertising for brands and businesses. Contextual advertising is an apt example of leveraging the power of AI to deliver ads that fit better with the consumer’s behavioural patterns and drive better engagement.

With AI becoming more sophisticated, the future of the AdTech industry looks promising and one can expect to see more AI-powered products and services in the years to come.

Purpose-driven marketing

Marketing can drive sustainable growth by driving compelling experiences and keeping purpose and innovation at the forefront. Having a strong purpose at its core contributes value to a brand, both in terms of earning consumer trust and also as a strategic decision. Effective marketing depends on helping companies create a more meaningful world for their customers by identifying a social purpose. No wonder, then, purpose driven-marketing will be the way forward.

GenZ being the loudest influencers in the industry, brands will continue to target and connect with the influencer’s audience by plugging across each touch point encompassing communication, experience and transaction. For instance, sustainability will be set as a goal for brands to achieve as it can be the key differentiator between the brand that one likes and the brand one chooses to buy from for sustainable reasons. This further strengthens the point that purpose will continue to trump everything in brand marketing.

Video marketing for the win

Brands today have made bite-sized video marketing a huge part of all their campaigns on social channels, such as Instagram reels and YouTube shorts. These help them increase engagement among millennials and catch the audience’s attention more quickly. An average user spends about 88% more time on a website with video content and is 64% more likely to purchase a product after watching a video that talks about it. This is reason enough for companies to adapt ephemeral content into their marketing strategies.

By 2023, video traffic is estimated to make up 80% of all Internet traffic. This makes it easier for MarTech companies to analyse reach, engagement, and return on investment around brand campaigns that leverage video content.

MadTech: Convergence of AdTech and MarTech

MadTech is the intersection of marketing, advertising and technology. This is where the successful deployment of the right tools and strategies in marketing and advertising takes place. Working with data acquisition technology, brands now have data warehouses filled with information. This includes demographic and geographic information, order history, buying preferences, product research, and purchase intent. When this data is combined, brand marketers can build a much clearer picture of the audiences to target, what offers would be relevant to them, and the best marketing tactics required for success.

Technology is constantly evolving and new trends are constantly emerging. To stay ahead of the game, businesses must ensure that they are on track with the latest trends on the right platforms. The future of marketing technology will be driven by advancements in AI, automation, and data science. AI is the game changer helping marketers make intelligent decisions by providing them with insights that would otherwise take too long to generate manually or with traditional methods.

Using AI, AdTech companies will be able to target ads more accurately, personalise the user experience, and track engagement under one platform.

The AdTech and MarTech industries are set to experience significant growth in 2023. Brands and companies that want to take advantage of this growth should consider adopting key strategies, such as developing innovative products, growing their customer base, and investing in the latest technologies.

By Ritesh Ujjwal

Ritesh is the Co-founder and CEO of Kofluence

feedbackvnd@cybermedia.co.in