Marketing technology is evolving at breakneck speed. Cutting-edge software and next-gen platforms are transforming the way brands approach marketing.
If optimizing mobile platforms and video consumption were the martech trends, this year has brought on a fresh crop of customer-forward and low-effort trends that will likely dominate marketing efforts across all sectors.
Bidding Farewell to Code
Whenever data of any form – especially customer data – comes into the picture, one imagines a data engineer or scientist hunched over their system, laboring over the cleaning, de-duplication and normalization of data. While these elite bunch of folks will forever be available to serve the larger enterprises, they are now not needed for dealing with the smaller and less complicated business data sets.
With the increased desire to simplify or automate those parts of the process that a layperson may not be able to achieve, platforms have slowly become low/no-code. This means that marketing teams dealing with smaller business data sets will no longer need a data engineer for data cleansing, deduplication, and normalization. These modern data platforms can now easily ingest multiple data sources with a simple codeless integration and can be operated by marketing folks with little to no tech or engineering backgrounds.
Unlocking the Value of First-Party Data
Everyone watched the (third-party) cookie jar disappear.
As brands scrambled to make up for the potential loss of this data source, the spotlight fell on first-party data, i.e., the goldmine of information which the brands just weren’t leveraging well enough.
Marketing is not just about the customers trusting you to address their pain points but also trusting you with their information.
In 2024, first-party data leverage will gain momentum, which will transform the customer experience with limitless personalization, shared trust and loyalty. Single customer views will be commonplace and real-time data access will become a norm.
Anyone within the organization will be able to view, access and analyze customer data events, attributes and behaviours to easily make decisions on improving revenue growth and experiences.
Artificial Intelligence Across Martech Platforms
A marketing tech stack in 2024 will no longer be “assisted” by AI but instead will be “powered” by AI.
Automating mechanical processes within the marketing funnel was a trend at some point, yes, but now it will be all about pushing the boundaries of obtaining actionable customer insights and analyzing data using novel AI tools.
Using predictive analysis, hyper-personalization, and targeted marketing with a dollop of marketing automation ensures a winning approach towards marketing and advertising. You don’t have to be a big brand with a large budget to make the most out of AI.
Brace Yourselves for 2024
Whether you are starting with a clean slate this year or carrying valuable knowledge, make sure to prioritize these trends in the next 11 months.
Over at Lifesight, we are closely listening to how these trends unfold and are riding them for our product development. Watch this space for exciting news from our quarters’ we can’t wait to tell you all about it!
