Saturday, January 23, 2021
  • Setup menu at Appearance » Menus and assign menu to Top Bar Navigation
Advertisement
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
No Result
View All Result
Home Marketing Technology

4 Martech Trends to Follow in 2021

January 7, 2021
in Marketing Technology
4 Martech Trends to Follow in 2021
585
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

2020 didn’t turn out to be quite what we expected, but I like to remind myself of a famous quote from Albert Einstein: “In the middle of difficulty lies opportunity.”

2021 presents marketers with an opportunity to take 2020’s obstacles as challenges and improve their processes and methods of working. Four emerging themes in particular around analytical marketing technology will be the foundation for martech progress in 2021.

You might also like

Marketing Tactics Most Searched for Online

How to Win Back Lost Customers With Content

The Content Habits and Preferences of Engineers

1. Optimization and modernization supersede complete transformation

Some martech vendors push a digital transformation agenda that’s all about the “ripping and replacing” of software systems. Why not instead focus on the optimization of costs, the modernization of technologies and processes, and the revamping of marketing journeys?


Digital transformation is a process that takes years to complete. Instead of removing entire systems and starting over, in 2021 companies will focus on optimization and modernization through the use of analytics.

That will include the optimization of marketing resources, marketing program costs, and customer engagement processes, as well as an upgrade of marketing technologies to lean toward new capabilities: Think machine-learning, data collection and transformation, and channel convergence.


2. Machine-learning becomes mainstream in marketing

In 2018, I wrote an article stating that businesses hadn’t yet tapped the full promise of artificial intelligence (AI). Machine-learning, which is a subset of AI, will become much more mainstream in 2021.

Machine-learning models will be used to better predict customer and prospect value—namely, the value of Marketing-qualified leads across Web and mobile channels.

Gradient boosting machines and random forest models will be used to better segment customers based on behavior. Better value scoring and classification will result in higher degrees of personalization and subsequently improved conversion rates on digital channels.

The capabilities mentioned in the 2018 article—product recommendations, loyalty programs, text and search, and digital advertising—will also fast-forward through an increased and improved use of machine-learning.

3. Attribution becomes obligatory

Aligning sales and marketing departments within organizations has become critical. Because physical sales interactions are limited, sellers are relying more heavily on marketing outputs to feed the pipeline.

Attribution is an analytical technique, similar to optimization, that will become prevalent as organizations recover and reinvent their strategies while also more tightly controlling costs and processes. More brands will desire to granularly attribute marketing activity from channel to revenue. Early-stage clicks will be more closely tied to late-stage engagement and conversion.

Analytical frameworks for attribution are already being developed by some of the most mature marketing organizations, and I sense that the majority of fast followers will employ attribution more fully in 2021.

4. Better conversational AI emerges out of improved digital engagement tactics

From a data perspective, brands will, out of necessity, expand the level of detail in the customer data they collect: As a result of limited interaction over physical channels, digital customer behavior data will be necessary for improved engagement.

From an analytics perspective, conversational AI in the form of chatbots and other digital engagement mechanisms will be deployed to assist with product and service recommendations—also known as analytical “next best offer” or “action.”

The best conversational AI in 2021 will combine three things: enriched customer data, machine-learning techniques for better prediction, and AI and robotic automation capabilities for deployment.

* * *

As analytical marketers enter 2021, the focus will be on the following:

  • Revisiting and modernizing processes and technologies
  • Controlling and attributing costs
  • Increasing conversion through better engagement and personalization
  • Repurposing available technology and processes to build on previous accomplishments.

For some companies, 2020 was a year of turmoil and loss. Others fared better than average and will be able to jump into 2021 more quickly. One thing will be consistent, however: Data and analytics will continue to satisfy the hunger for insight that brands desire.

Credit: MarketingProfs By:

Previous Post

5 privacy regulations marketers need to know for 2021

Next Post

Light-based processors boost machine-learning processing

Related Posts

Marketing Tactics Most Searched for Online
Marketing Technology

Marketing Tactics Most Searched for Online

January 22, 2021
How to Win Back Lost Customers With Content
Marketing Technology

How to Win Back Lost Customers With Content

January 22, 2021
The Content Habits and Preferences of Engineers
Marketing Technology

The Content Habits and Preferences of Engineers

January 21, 2021
Agile Marketing: 3 Tips for a Post-Pandemic Economy
Marketing Technology

Agile Marketing: 3 Tips for a Post-Pandemic Economy

January 21, 2021
Podcasting: Your Content Marketing Engine
Marketing Technology

Podcasting: Your Content Marketing Engine

January 21, 2021
Next Post
Light-based processors boost machine-learning processing

Light-based processors boost machine-learning processing

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

January 6, 2019
Microsoft, Google Use Artificial Intelligence to Fight Hackers

Microsoft, Google Use Artificial Intelligence to Fight Hackers

January 6, 2019

Categories

  • Artificial Intelligence
  • Big Data
  • Blockchain
  • Crypto News
  • Data Science
  • Digital Marketing
  • Internet Privacy
  • Internet Security
  • Learn to Code
  • Machine Learning
  • Marketing Technology
  • Neural Networks
  • Technology Companies

Don't miss it

Global Machine Learning as a Service Market (2020-2026) | Latest COVID19 Impact Analysis | Know About Brand Players: Amazon, Oracle, IBM, Microsoftn, Google, etc.
Machine Learning

Machine Learning Courses Market 2020: Potential growth, attractive valuation make it is a long-term investment | Know the COVID19 Impact | Top Players: EdX, Ivy Professional School, NobleProg, Udacity, Edvancer, etc.

January 23, 2021
New website launched to document vulnerabilities in malware strains
Internet Security

New website launched to document vulnerabilities in malware strains

January 23, 2021
Splunk : Get to Know Splunk Machine Learning Environment (SMLE)
Machine Learning

Splunk : Get to Know Splunk Machine Learning Environment (SMLE)

January 23, 2021
License Plate Recognition (All you need to know) (ANPR) Part1 | by Sameer Bairwa
Neural Networks

License Plate Recognition (All you need to know) (ANPR) Part1 | by Sameer Bairwa

January 23, 2021
FSB warns of US cyberattacks after Biden administration comments
Internet Security

FSB warns of US cyberattacks after Biden administration comments

January 23, 2021
AI & Machine Learning Operationalization Software Market Size 2021 Analysis, Growth, Vendors, Drivers, Challenges With Forecast To 2027
Machine Learning

AI & Machine Learning Operationalization Software Market Size 2021 Analysis, Growth, Vendors, Drivers, Challenges With Forecast To 2027

January 23, 2021
NikolaNews

NikolaNews.com is an online News Portal which aims to share news about blockchain, AI, Big Data, and Data Privacy and more!

What’s New Here?

  • Machine Learning Courses Market 2020: Potential growth, attractive valuation make it is a long-term investment | Know the COVID19 Impact | Top Players: EdX, Ivy Professional School, NobleProg, Udacity, Edvancer, etc. January 23, 2021
  • New website launched to document vulnerabilities in malware strains January 23, 2021
  • Splunk : Get to Know Splunk Machine Learning Environment (SMLE) January 23, 2021
  • License Plate Recognition (All you need to know) (ANPR) Part1 | by Sameer Bairwa January 23, 2021

Subscribe to get more!

© 2019 NikolaNews.com - Global Tech Updates

No Result
View All Result
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News

© 2019 NikolaNews.com - Global Tech Updates