6 Martech Trends You Should Know Right Now

How important is marketing technology right now?

Roughly 69 percent of marketers believe it helps them excelOpens a new window in their roles, according to a Walker Sands state of martech report, and Gartner research reveals businesses are spending more on martechOpens a new window than ever — as much as 30 percent more.

But your business may not be getting the most out of its martech spend. Staying on the cutting edge of marketing technology empowers you to make better decisions that help you reach a bigger audience and achieve greater success.

Here are six martech trends you should know about right now to make the biggest impact.

1. Too Much Spending Without Valuable ROI

A recent BDO and WARC report found 30 percent of marketing budgetsOpens a new window in the United States goes to marketing technology.

“It begs the question of how many businesses are getting ROI and taking time to fully customize to their businesses and ringfence time for analysis of the insights,” says Dr. Dave Chaffey, co-founder of digital strategy learning platform Smart InsightsOpens a new window .

“The report also shows that around one third of companies have reduced media spend due to martech investment, which suggests it could potentially harm customer acquisition,” he notes.

But Chaffey notes the same report shows that around 50 percent of businesses “are buying into the ‘one-stop shop’ of marketing cloud solutions. They will use specialist providers that give better ROI, for example better quality personalization through AI or using conversation marketing platforms like Drift, Intercom, or Continual.ly — these will prove particularly important for B2B in the future.”

Companies investing in martech must take care to ensure they spend money on the right solutions to achieve real ROI. A personalized approach tailored to your business provides flexibility and value for your specific goals and issues.

2. Omnichannel Tracking

Omnichannel is a key word now, and tracking analytics across all channels is vital to identify marketing strengths and weaknesses.

“Everyone is trying to figure out how to track analytics across these platforms reliably,” says Jacqueline Basulto of SeedXOpens a new window . “It’s difficult to attribute the value of specific touch points when people see Facebook ads, Google ads, social media, email, content, etc. on their journey to becoming a customer.”

Martech platforms are working on bringing tracking all together, and increasing this needed omnichannel visibility. There’s still fragmentation right now, but the gap is closing.

3. Automating to Maximize Efficiency

Roughly 67 percent of marketers use marketing automation platformsOpens a new window , and with good reason.

Trusting a tool to complete tasks streamlines processes and leaves teams with more time to focus on core goals. Rouhgly 75 percent of marketersOpens a new window claim this extra time is the major benefit of automation, while 68 percent claim enhanced customer satisfaction is another.

“Martech should make marketers’ lives easier, so most obviously, we’re all focused on honing and maximizing the capabilities of artificial intelligence and machine learning to do just that,” says Margo Kahnrose, senior vice president of marketing for advertising platform KenshooOpens a new window .

This involves “automating whatever can be automated, always-on monitoring whatever used to be static and infrequent,” she says.

4. Creating Experiences

Leveraging martech to deliver a personalized, engaging experience is critical to reaching your target audience. Cutting-edge technology alone may not be enough to gain traction and secure conversions — the way you use it to create brand-specific marketing is everything.

“What we’re seeing is that it’s not tech-first, it’s experience-first,” says Dr. Joe Panepinto, senior vice president of group strategy for brand experience firm Jack MortonOpens a new window . “So it has to be an authentic integration of a technology into any audience experience. We see key tech advancements in four areas of experience: personalization, curation, immersion, responsiveness.”

Companies should take advantage of the latest technological opportunities to deliver a customized, immersive experience to tell their story in an engaging way. Dare to choose a different route to competitors and experiment with innovative marketing opportunities.

5. Social Media Commerce

Social media commerce (also known as shoppable content) shortens the customer journey considerably. Instagram’s shoppable posts are one example of this, allowing users to make a purchase based on an inspirational piece of content. This may be a photograph or a video.

The user is driven towards the transaction as they browse social media, rather than scouring online stores with purchase intent.

“Social media is expanding earnings potential beyond promotions and ads, with increased options for users to purchase something without having to leave the social platform,” says Alex Membrillo, CEO of Cardinal Digital MarketingOpens a new window .

6. Real-Time Targeting

“Network speeds are increasing, meaning companies will be able to deliver customized communication ultra-fast,” according to Membrillo.

And it’s true. Marketers have the technologies and tools to focus their content on the right users at the right time. It’s not about investing in as much marketing as possible to reach as many potential buyers as you can. It’s about aiming for maximum ROI by focusing your marketing on those most likely to buy instead.

Research by Harvard Business Review shows companies in the United States lose $1 trillionOpens a new window in annual revenues because they’re not as relevant as competitors. Tagging, gathering and using data pulled from all channels provides businesses with all the information they need to take advantage of real-time targeting.

These six martech trends highlight the advantages available to businesses willing to dedicate time and money to updating their marketing strategies. Martech can make marketers’ work much simpler, faster and cost-effective, helping you reach your target audience and satisfy their needs.

Finding the right martech solutions for your business demands time and research, but it’ll pay off when you start seeing positive results.