AI, Blockchain to Influence the Future of Marketing

Martech Outlook | Monday, October 11, 2021

It is anticipated that contemporary technologies will be employed by marketers to provide personalized experiences while ensuring customer data security.

FREMONT, CA: Marketing can be considered a perfect balance between science, art, creativity, and data. Historically, art has been the most dominant part of marketing campaigns, but it doesn't hold true in today's times. Digital marketing channels, social media platforms, and advancements in technology have fostered an era of data-driven marketing, the success of which can be accurately measured using relevant metrics and KPIs. According to a survey by Google, 89% of the leading marketing companies employ metrics like gross revenue, customer lifetime value (CLV), and market share to accurately measure the success of their marketing campaigns. For businesses trying to leverage marketing to success, the right marketing metric could prove to be the critical differentiator. Considering the massive digitalization induced by the covid-19 pandemic and change in customer behavior, brands are re-evaluating their marketing strategies while trying to cope with this long trail of changes.

In an era of Artificial Intelligence, Big Data, and Deep Learning, one can anticipate that these technologies will make their way into the marketing domain across global industries. AI-powered chatbots are the most awaited addition to customer relationship management, as they house the capability of providing personalized responses and process complex requests. Voice assistants are also gaining massive popularity within the marketing community, as it enables contextual interaction with users and is being reviewed by marketers as an efficient tool to provide a personalized experience to customers. As more and more consumers utilize voice assistants, one could say that voice marketing might just be the new revolution in the global business ecosystem. Blockchain is another potential candidate that has the capability of transforming the marketing industry, resolving privacy and transparency-related concerns. Considering that providing a personalized experience is the key mantra of all marketers today, technology will emerge as a driving force that enables such customer-centric changes.

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