Do you have the martech knowledge you need to play the game well in 2018?
Complete understanding of the martech landscape will be an ongoing challenge.
Marketing technology, or martech, as it is often referred to, is here to stay. Throughout the year of 2017, it has become increasingly evident to marketing professionals, marketing departments, and marketing analysts that martech will help define the future of marketing and how businesses stay connected to customers and create revenue.
Digital transformation has taken a large share in the customer service space. Still, there are many companies that think marketing and customer service as well as nearly every other department are separate and different functions. Instead, as time goes on, martech has becoming increasingly technology based and data driven, making it a vital component to every business.
With 2018 right around the corner, here are a few challenges marketers will face in the upcoming year and how to prepare for them:
#1. Martech will be Widely Adopted
One challenge marketers will face going into 2018 is the decision of what tasks to automate and whether to automate the entire marketing process. It is critical to also understand what functions are working and which ones require an upgrade or even a complete overhaul. CMOs will have to evaluate compatibility of various functions and processes, consider the value of incorporating martech processes, and deal with the outcomes of doing nothing.
#2. VR and AI will Rule
Oculus, Samsung, Facebook, and YouTube are all companies that are heavily invested in virtual reality (VR) technology and artificial intelligence (AI). While there is a debate about how much control these will have in the future, the immersive social and digital worlds of VR offer many new experiences and applications. The major decision for brands in 2018 will be whether or not to create VR compatible data. Additionally, AI, especially machine learning, is already disrupting and redefining several industries and businesses. Marketing teams will have to decide whether to invest in these trends early in the year.
#3. Video will be Necessary
According to a comScore study, millennials spend 60% of their video viewing time on-demand via mobile, and it is forecasted that by 2020, 40% of all video content will be streamed. AT&T research showed that even when people watch TV today, almost 88% are also engaging with another device at the same time.
Companies such as Netflix, Amazon, Apple, and Facebook are investing billions of dollars in original content for video production. Not just that, but even social media platforms are making video content more popular. Marketers must ensure that they invest an adequate amount of time, money, and resources towards creating original and possibly viral content.
#4. Traditional Content Creating Channels will Disappear
In the rapidly changing world of video and social content, traditional modes of writing content and posting it on a website or blog may soon become less important. The new method allows for the creation of content and simultaneous sharing of that content across multiple social channels. Sharing content and making it viral will be the keys to generating more traction for your company’s platform.
Marketing in 2018 may seem more complex than even marketing in 2017, and that’s because it is. Companies will be forced to keep up with and get ahead of trends in order to play the marketing game well. Consumers are undergoing a paradigm shift to ensure their presence is visible far and wide across the various social and video platforms. These predictions for 2018 will help CMOs prepare their marketing teams and strategies ahead of time to stay ahead of the competition.