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On this subject, here is an article about the marketing hype cycle: In 2019, advertisers worldwide will lose $5.8 billion due to fraud, according to an estimate from the Association of National Advertisers and cybersecurity outfit White Ops.
This year’s Hype Cycle features 28 technologies. All were selected with today’s unpredictable consumer in mind, but marketers looking to invest in martech should focus on these six in particular.
Customer data platform (CDP)
What should marketers do? Organizations looking to select the right vendor should review internal needs, decide whether it makes sense to buy or build, and carefully review capabilities to avoid redundancies with existing technologies and creating gaps in the technology stack.
“Marketing leaders are increasing investments in innovative technologies as they strive to deliver meaningful customer experiences.”
Artificial intelligence for marketing
What should marketers do? AI can present difficulties due to its inherent complexity, and can create issues with accountability in regulated industries. Marketers should ask vendors to explain their AI technology roadmaps and connect with peers to understand AI across the business. Though full realization is years away, AI will radically alter marketing over the next 20 years, which means marketers should experiment and invest now.
Blockchain for advertising
For example, beyond fraud prevention, blockchain could offer new ways for consumers to manage personal data. It can enable organizations and individuals to verify the provenance of content and goods, reducing the threat of association with fake news, counterfeit products and ads promoting them.
Marketers combine behavioral analytics and marketing automation to ensure consumers are seeing the right message at the right time. The speed at which organizations are able to reach consumers with the right messaging will differentiate them from competitors.
What should marketers do? Use real-time marketing concepts to build speed and rapid response into the entire consumer life cycle. Review where poorly timed or slow reactions affect the business and ensure your organization is built for agility.
What should marketers do? Focus on adopting or improving measurement techniques and improving inputs for more accuracy. Eventually, MTA will allow marketers to see what is working for who in more detail and will help adjust spending levels during a campaign.
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