Blockchain, Artificial intelligence (AI) and Customer Data Platforms (CDPs) that help in real-time marketing are the technologies with the capability to transform the way marketers run their technology ecosystems.
According to experts, real-time marketing will have the highest impact on marketing activities over the next five years. But, before realizing the benefits of these technologies, marketers must become proficient in delivering personalized communications and predictive analytics.
Marketers’ expectations from CDPs are always high, and the use of the technology differs from user to user, based on the functionalities being used and sold. According to Gartner’s ‘2019 hype cycle and digital marketing and advertising,’ report, half of the enterprise marketers who have deployed a CDP use it as their CRM system. This is an indication of the wrong perception of the purpose and unique differentiators of CDP.
There is a mounting confusion on the usage of CDPs that has led to the saturation of the market with a number of vendors and features overlapping with similar and maturing technologies.
AI For Marketing
AI for marketing has risen to its highest peak of inflated expectations. Analysts believe that AI continues to be the most used buzzword that describes many features that can augment the functions performed by marketers, like automated content tagging and real-time personalization.
AI is set to be transformational over the next 20 years. It is driving pervasive shifts in the martech ecosystem and is effectively transforming many marketing practices.
Advertising with Blockchain
Blockchain holds high promises for marketers in advertising. There are some significant challenges with performance, scalability, and adoption that need to be overcome before the technology can alter the status quo. Many companies have launched Blockchain platforms for advertising on an experimental basis, but none of them has demonstrated ongoing viability yet.
According to Gartner, despite the skepticism, Blockchain is gaining momentum as it has support from organizations like the Interactive Advertising Bureau (IAB) and technology companies such as IBM, Amazon, and Comcast.
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Travel & hospitality and financial services & insurance sectors are combining marketing automation and behavioral analytics to send the right message at the right time to specific customers.
However, Gartner’s report suggests that only 44% of marketers use predictive modeling and rigorous testing to determine whether the real-time response is warranted when they design event-triggered marketing. Marketers must look to revamp the processes and make better use of marketing technologies for data gathering, analysis, and activation.
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