Collective: Marketing technology of the future
What’s new in technology, and how will it impact marketing in 2023?
Innovation should always be part of a solid business and marketing plan. New products, advanced technologies, increased efficiencies and staying ahead of the game in your industry.
So, what technologies will affect marketing in 2023 and beyond? How is our industry moving forward, and what do you need to incorporate into your plans?
This year, we’ve learned about current and future technologies and what we need to add to our tool kit as marketers and agencies. e.g., digital automation, AI, Web 3, and Crypto, to name a few. As an agency, we need to understand and embrace new technologies, whether we use them for our clients or gain insights to stay fresh and provide informed advice.
Horses for Courses
The best approach is developing a clear understanding of the available technologies and then deciding if or how they might work for your brand. This will depend on your industry, product/ service, customer buying cycle and internal capabilities. Let’s break down a few…
Marketing Automation – uses software designed to automate monotonous marketing tasks. E.g., email marketing, customer responses, promotional offer, social media posting – all designed to engage, personalise the customer experience and stimulate loyalty. Ideally, the software integrates with internal systems and CRMs to provide valuable data to sales teams about customers’ buying behaviour.
• Businesses are already using many forms of AI for task automation. For example, a chat box that performs a repetitive, structured task that follows set rules and predetermined output.
• More complex AI includes machine learning – these algorithms are trained using extensive data to make more complex predictions and decisions about consumers.
• AI is also being used in developing marketing content – copywriting, graphic design, and imagery.
AI will ultimately transform marketing; however, this will take some time. There are many factors and risks in replacing human interaction and ensuring a positive brand experience. It will be about managing the balance in maximising efficiencies whilst maintaining the brand’s integrity.
Web 3 – is a new iteration of the World Wide Web which incorporates concepts like decentralisation, blockchain and token-based economics such as cryptocurrency. Seen as the future of the internet, and according to Harvard – ‘it’s the rewiring of how the web works, using blockchain to change how information is stored, shared, and owned’. Watch this space.
Branding & Marketing 101
Knowledge is power. As Marketers, we need to be open to new technology and adaptable in our thinking. The scope of marketing is broad and keeping on top of the ever-changing landscape is crucial for success.
Explore future technologies and develop an understanding of how to leverage the tools in the market, but don’t lose sight of the fundamentals of branding and marketing. The customer is centric to marketing and client satisfaction, and brand experience is critical to brand growth.
Without brand foundations and a solid marketing plan, the technology will only go so far, and at this point, humans are still driving the technology!
Hit the ground running early in 2023. If you’d like help in reviewing your marketing plans or with execution, contact our team for a confidential chat.