2020 Marketing Technology Predictions
Here are some predictions for 2020 on the future of your martech stack.
Predictions for 2020
- Systems that connect existing applications, orchestrate and unify customer data across channels.
- Systems to manage customer permissions across organizations applications and channels.
- Higher adoption of machine learning for personalized predictions.
- Higher adoption of the tech stack APIs for automation and customer experience across applications and channels.
Almost a quarter of global marketing spend is now used on Martech according to Gartner.
Some 40% of decision makers in marketing say that lack of integration in their marketing stack is blocking them from improving the customer experience. On an average, around 900 applications are used in every organisation which makes it messy for companies to provide the connected experience that is expected by customers for a consistent journey across multiple channels.
Customer Experience
We predict that organisations will move forward in solving the pressure on IT to enhance capabilities for delivering connected, personalized experiences.
It has been estimated that omnichannel customers spend 10 percent more online than single-channel customers. A connected experience would remove friction in the customer journey, and enable access anywhere, anytime.
With the rise in technology and on-demand services, consumers expect personalised services and think companies should understand their expectations and requirements. To deliver this organisations will continue adoption of machine learning/AI platforms for better personalised predictions.
Data transparency
Capturing behavioral data on customers and using it with machine learning requires permission. So does any type of automated customer interaction beside advertising.
Organisations will implement dedicated platforms to manage customer permissions across channel specific systems. Forced by General Data Protection Regulation in the EU, California Consumer Privacy Act and a spree of new national data protection acts require that full data transparency with customers and other stakeholders will be a prerequisite to any structured, automated marketing effort. So we expect to see a further growth in the adoption of these platforms during 2020.
APIs to deliver experiences across channels
Application Programming Interface exposes the functionality of applications through standard procedures and allows organisations to automate, utilise applications, avoid redundancies and replication by simple programming.
Taking advantage of APIs in the existing technology stack, businesses can improve their productivity and returns while deliver better customer experience and accelerate innovation.
Besides, personalisation for better customer experience, automation and efficiency of business processes are some of the major advantages of utilizing APIs in business process across the organization in 2020. It lowers the barriers for POCs, accelerate innovations and reduce time to market of any potential idea that may improve business outcome or customer experience..
This article originally appeared on LinkedIn.
Kresten Bergsøe, Monoloop