2020 is about to end, and we all know it wasn’t that great for any of us because of the COVID 19 pandemic. Almost all businesses were tremendously affected and all the forecasts and strategies were forced to be on hold. But things have started improving now and with countries like Russia and the U.K. launching vaccines of COVID 19, things are expected to get to normal in the first quarter of 2021. This also means that the time has come to get back to work with new determination and an aim to reach new heights in this New Year, so it is also important to check out the Martech predictions 2021 and strategize your new year accordingly. Because of the pandemic,
2020 might have been the year of accelerated digital transformation, but marketers will have a host of other technologies on their radar in 2021.
From artificial intelligence (AI) and IoT to mixed reality (MR) and robotic process automation, it's clear that marketing leaders will need to increasingly tap technology in order to make informed, responsive decisions with changing consumer behavior.
- Behavioral Marketing will still trump overblown promises of artificial intelligence. AI is great, but enterprises don’t have time to integrate half-baked or risky technology in the New Year. We’ve all heard the stories – Yes, AI could eventually disrupt the marketing industry by deepening personalization, but industry experts all agree: we aren’t there yet. The real needle-moving tech of 2021 will remain rooted in smart, behavioral marketing Those who make big investments in cutting-edge technology could very well be left disappointed.
- Data-driven decisions will still be at the center of great growth marketing strategies. It’s no secret that our industry has been on a data kick. We collect it wherever we can and hope it will point us in the right direction. Despite this, Gartner’s recent study revealed that more than half of senior marketing leaders are unimpressed by the impact of marketing analytics on their businesses. And, as a result, only 54% of marketing decisions are being influenced by marketing analytics. At the same time, only 23% of respondents said they prioritized spending time on data skill development. In 2021, growth-minded marketers will sidestep this data debacle and focus on two metrics that actually move the needle. The first is prospect engagement levels. Marketers need to move beyond measuring leads and dig deeper to see which ones are actually proving to be relevant to their respective markets. The second is customer product engagement. Point blank: Are your customers getting actual value from your offering? Since it’s your customers, not you, who are your biggest spokespeople, make sure they are getting the attention they need and make it a top priority to track their satisfaction levels.
- Budgets are getting healthy again, but smart marketers will make it a point to not get too greedy. Several recent studies point to a return of the marketing budget and consumer spending as we head into the New Year. While these projections provide a much-needed dose of optimism, marketers shouldn’t rush to resume their old spending habits. But, with the powers of automation, nimble and lean budgets or one-person marketing teams will compete with some of the most spendy brands in 2021. More so, this technology will continue to show marketers how to do more with less – a skill that holds value long after we stop penny-pinching through the pandemic.
This chaotic year of 2020 is about to end, one positive thing that has happened this year at an unbelievable pace is the digital transformation of businesses. This will have an immense impact on businesses and marketing in 2021. Martech is an industry that is constantly evolving, and as these Martech predictions 2021 suggest, it is expected to grow at a very rapid speed.
We don’t know about flying cars or floating houses or superhumans, but one thing we can say with confidence that the future of marketing technology is going to look a lot more like the martech predictions 2021 made by David Greenberg.
ABOUT THE AUTHOR
Aashish is currently a Content writer at Martech Cube. He is an enthusiastic and avid writer. His key region of interests include covering different aspects of technology and mixing them up with layman ideologies to pan out an interesting take. His main area of interests range from medical journals to marketing arena.