Look Out For These Top 10 MarTech Trends In 2023

Marketing in 2023, by necessity, will be a tightrope walk between constant optimisation of brand value, a persistent focus on customer value, and the deliberate evolution of the marketing function. Martech stacks are vital as they improve business operations such as sales enablement, product launches, ecommerce automation, email marketing, and social channel workflow management to make your business run more efficiently and bring in money. But getting the right stack to power your marketing operations is critical, as it needs to power your teams and drive actual growth toward revenue goals, not just improve productivity.

*Key considerations before investing in MarTech in 2023

Is it in sync with the overall strategy?

The tools you choose shouldn’t necessarily follow the next trend. Instead, it should meet specific business and team needs head-on to be most effective. For instance, while one marketing automation tool might be preferred by industry professionals and executives at your company, a newer automation tool might have more of the features and capabilities your sales and demand generation teams require to compete in the market at a lower cost. Consider all options carefully.

Does it address team hurdles?

Make certain that the tools you choose address the current difficulties teams are facing. Find out where the problems are and what tools are causing them. Once you've compiled a list, look for any recurring themes or tools and determine which marketing technologies might be able to address both.

Does it integrate well with your current stack?

Don't forget to verify that the tools you are considering are compatible with your existing marketing tech stack. It would be a complete disaster to onboard a new work management solution only to find out that the tool doesn’t integrate with your creative or storage solutions.

10 MarTech trends your team should master in 2023
Keeping in mind the criteria discussed above, it's important to evaluate the potential effects of technological trends on the various strategies your organisation may be pursuing currently, such as increasing revenue, accelerating digital adoption, maximising the value of your data, or enhancing your brand. These trends could represent a risk or an opportunity for your organisation, and will ultimately help you create a technology roadmap to drive impact on a range of strategic ambitions.

1. Zero party data - Zero-party data can be gathered from a variety of sources, including loyalty programmes, interactive content and gaming, user preference data, and purchase intentions. It can be used to create a customer profile, improve customer service, make product recommendations, make better strategy decisions, and improve ad targeting. Zero-party data has the potential to supercharge big data efforts, without violating the trust that is so important to customers today. It signals a significant transformation of the marketing landscape.
   
   
2. Paid communities - Brands and corporations are actively investing in paid communities because that is fundamentally what’s going to build a gravitational pull around the business and become its own self-sustaining marketing machine.
   
   
3. Interactive Content - It is more engaging than static content and adds a bespoke twist to content strategy. Quizzes, videos, flipbooks, gamification, and guided selling, for instance, lend an added layer of interaction and improves user experience and brand image.
   
   
4. Hybrid events - Hybrid events combine physical and digital participation. While live-streamed conferences and seminars are often classified as hybrid events, it's important to note that online participants need the same engaging experience as in-person attendees. Brands that work at providing the same features as an onsite event, such as interactivity, networking opportunities, and stands will enjoy loyal customers.
   
   
5. Artificial intelligence (AI) and chatbots - Chatbots can carry on a real conversation with your customers, save time and enhance user experience. Artificial intelligence helps brands provide a more immersive experience and is fast becoming a game changer across industries.
   
   
6. Automation tools - Tools for automation and personalisation at scale will become even more pervasive. These include CRM, social networking, advertising, lead management, and email marketing solutions. These automation tools support internal procedures and improve customer service, which is difficult to do unless marketers can comprehend data flawlessly, put it into a programme, and use that tool to automate consumer conversations.
   
   
7. Virtual Reality - Besides enhancing the customer journey and boosting sales, companies can use VR to impress potential buyers and create positive brand experiences.
   
   
8. Low or no-code platforms - Savings on time and productivity are the main benefits as they require no programming skills. They are easy to integrate with other tools and can be mastered quickly. They also allow employees to be flexible and improve the speed of applications.
   
   
9. Influencer Marketing platforms - Influencer marketing is a time-consuming exercise as it involves discovering relevant influencers, connecting with them, negotiating the terms, and monitoring results. With influencer marketing platforms, the technology tools match influencers in your category and initiate contact on your behalf.
   
   
10. Customer data platforms - Customer data collection enables the creation of more individualised or hyper-individualised marketing tactics. With first-party data becoming the norm, customer data platforms enable businesses to bring all customer data together in one place, thus helping marketers make informed decisions.  

To ensure that your MarTech investments are a success, choose wisely from the plethora of options available. But also remember to match your MarTech gameplan with a reasonable budget, an expert and dedicated staff and of course, flawless execution. Wishing you the best of MarTech in 2023!

Amit Tiwari

Guest Author The author is the Global Head of Marketing Demand Centre of Tata Consulting Services, Amit leads MarTech strategy and operations to support the business and marketing objectives. For over 21 years, Amit Tiwari has proved a key thought leader in the MarTech space. He understands and adapts technology faster and is also keen on experimenting and exploring new technology and new ventures in marketing.