To stay competitive, in-house teams and agencies need to be on top of any developments in the MarTech space. Whether it’s AI-driven personalised ads or the potential of blockchain technology, there’s potential for quite big changes in how we advertise.
It doesn’t matter if you’re a seasoned marketer or a DIY business owner, knowing what’s changing and how to take advantage of it is essential for building effective marketing campaigns.
The Best MarTech Trends to Watch in 2024
Automation and AI Integration
Automation tools were already essential for streamlining repetitive tasks long before the 2020s, but with the introduction of AI we can see how efficiency and effectiveness are about to skyrocket.
Marketing workflows can benefit from manual, human errors – establishing a seamless and cohesive brand presence across multiple channels at scale has never been easier with AI and automation.
AI-powered automation is shifting how customer interactions go down, with immediate and personalised experiences now offered at scale. With machine learning algorithms analysing vast amounts of data, marketers can get a better grasp of customer behaviour, preferences, and relevant trends much more efficiently than before.
This is furthered by predictive analytics, meaning we are now much more empowered to foresee trends and make those vital decisions with the data to back them up. Take predictive content recommendations, for example, which showcase how AI can breathe new life into established digital marketing techniques.
Blockchain in Marketing
Blockchain’s distributed ledger system offers a transparent record of transactions. Advertisers and publishers can both leverage this technology to securely trace the journey of ad impressions, with metrics such as clicks, views, and conversions being verifiable and free from manipulation.
With how decentralised blockchain is, marketers can confidently allocate resources to genuine audience engagement with the assurance that data is protected at all times. With data breaches increasing in frequency, the anonymity and secure chain of data offered by blockchain technology can help us stamp out ad fraud.
With the use of blockchain technology in marketing, we can also safeguard customer data more effectively. Through decentralised identity verification and consent mechanisms, customers can selectively share their data with marketers in the knowledge that their privacy is protected at both ends.
As it begins permeating the industry, blockchain has real potential to improve trust between customers and marketers, as well as reduce data theft and ad fraud.
Potential Third-Party Cookie Replacements
With the phasing out of third-party cookies happening imminently, exploring alternative technologies has become vital if we want to maintain personalised digital experiences.
The drive to phase out third-party cookies comes from growing emphasis on user privacy and data protection. Online tracking, user consent, and the potential to misuse personal info means Google is phasing out third-party cookies in 2024. To keep up the creation of personalised campaigns, we’ll need to explore other methods of delivering this content to audiences.
Google’s Privacy Sandbox initiative is the most notable, a project aiming to explore ways of advertising online without collecting large amounts of personal data. Hoping to strike a balance between personalised marketing efforts and maintaining online privacy, we’ll have to wait and see whether Privacy Sandbox’s API tools or ability to enable growth without data collection is possible.
In the absence of third-party cookies, contextual advertising may become a favourite for marketers and publishers. By simply judging what users may be interested in based on what they’re currently viewing, we could be able to target ads without having to collect their data. For example, a user visiting an online photography magazine could be shown camera and photography supplier advertisements. It sounds simple – and it is, with a 13.8% projected growth in contextual ad spend expected until 2030.
On a similar level, predictive content utilises machine learning algorithms to anticipate user interests and preferences, allowing them to receive personalised experiences without relying on third-party cookies to track and gather information.
While it may be frustrating, there are plenty of tools we can try out to fill the gap about to be left by third-party cookies.
Influencer Marketing 2.0
Going beyond simple paid endorsements, ‘influencer marketing 2.0’ is the idea to utilise more specific (almost niche) influencers, in calculated attempts to increase leads and ROI.
Using micro and nano online influencers, as opposed to mainstream influencers (public figures, and celebrity), brands can more effectively target specific audiences. Running along lines of demographic and shared values, influencer marketing 2.0 is aimed at reaching a smaller but more ‘hardcore’ audience.
Seen as more authentic and relatable, smaller influencers (anywhere from 100,000 to 1,000 followers) typically have a closer connection with their audience. Anything from typical sponsored posts to interactive campaigns can be utilised for 2.0, emphasising community building and the quality of leads over quantity. Despite a smaller followerbase, a micro influencer known for sustainable fashion will have an audience more receptive to a clothing resale platform such as Vinted than the latest Love Island winner.
With rapid changes in MarTech possibilities and requirements, the need to stay on top of trends and advancements has never been more important. As new tools and methodologies emerge, and old ones enter retirement, keeping our marketing strategies fresh and effective means navigating the new stuff and deciding what could work for us.
Are you thinking about looking further into any of these developments? Maybe you’ve already adopted some of them — if so, what are your thoughts so far?