How Marketing Technology Can Elevate Your Business in 2023
By: Carol Howley, CMO of Exclaimer
There’s no denying that technology is a driving force in the constantly changing landscape of marketing. Amidst today’s economic uncertainty, it’s never been as important for marketers to keep on top of emerging technology trends and stay ahead of the curve. By doing so, marketers can plan a successful marketing strategy for 2023 and beyond.
As a result of the current economic climate, departmental budgets are limited, meaning marketers need to strategise in order to maximise return on investment. Fortunately, there are multiple useful technologies that can help marketers achieve their 2023 goals – without breaking the bank.
Low-Code and No-Code solutions set to skyrocket in 2023 amidst economic downturn
Following the pandemic, the world of work has changed and discussions over workplace operations aren’t set to stop any time soon. At the forefront of this transformation are no- and low-code solutions, which allow employees with no coding knowledge to address their own app development needs.
As a result of the economic downturn, businesses of all sizes face the risk of budget cuts. Consequently, low- and no-code software is predicted to explode. The market for low-code development technologies is projected to grow to $44.5 billion by 2026 at a compound annual growth rate of 19%, according to Gartner.
Alleviating pressure from already stretched IT teams is just one of the multiple benefits of low- or no-code software. It can empower marketers to upskill and make strategic creative decisions with greater freedom, and at pace. Furthermore, being able to make rapid marketing changes is key in a world where customer experience and meeting customer demands with hyper-personalisation are mainstays of any successful marketing strategy. Low- or no-code allows marketers to operate at speed.
Email signature marketing tools like Exclaimer are a great example of how low- and no-code software can optimise your business and its functions. User-friendly email signature templates which don’t take coding experience to implement eradicate the need for frontend development. Marketing teams can therefore create a stylish sign-off which well represents your brand and returns time and resources to your teams.
Don’t skip out on implementing AI and automation
AI often finds itself in the spotlight on social media and across various news outlets, thanks to the broad range of benefits it offers the general public. It can be equally useful for industry professionals: marketers can use AI to get to know their targets inside and out. It can be used to identify and prioritise the most valuable leads, predict customer behaviour, and optimise marketing campaigns accordingly in real-time. Leveraging AI can help marketers improve the effectiveness of their strategies, which is particularly important when working with limited resources.
The popularity of AI in marketing saw significant growth between 2018 and 2020, increasing from 29% to a staggering 84%. However, only 17% reported that they have fully integrated the technology into their marketing strategies, which means that the adoption of AI has not yet reached a critical level of success. Despite this, AI conversational marketing solutions for engaging with customers and prospects are on the rise due to demand – for example, this study found that 71% of customers expect companies to communicate with them in real-time.
Implementing AI into your marketing strategy is definitely something to consider when budgets are tight. By automating analytical processes, marketers can redirect their resources toward more dynamic activities. Marketers who adopt a data-driven marketing approach can offer personalisation at scale and reduce churn. AI also has the capability to automate time-consuming manual tasks and streamline processes, allowing marketers to focus on more strategic tasks such as analysing, interpreting, and acting on insights obtained from AI data capture.
The death of the third party cookie
It’s well known that marketing departments have faced scrutiny over the way in which they handle data collection, but a radical overhaul from Google will prevent marketers from mis-managing user information altogether. Google Chrome is set to ban third party cookies in 2024, meaning that marketers need to prepare to use new strategies to track the right data and drive results, starting by diversifying targeting tactics to increase conversion. Fortunately, there are a range of alternative strategies to explore.
Switching focus to first-party cookies may prove effective. Generally, they are preferred to third-party cookies because users can choose whether or not to submit their personal information. Influencer marketing and affiliate marketing can be equally viable options, as well as email and SMS campaigns – provided they aren’t caught up in spam filters, which can compromise marketers’ chances of successfully reaching customers. Email signature marketing is one way around this problem; it’s personalised, one-to-one communication, with a trust relationship built in. Additionally, there’s no risk of your message falling foul of filters or spam folders.
Particularly amid economic uncertainty, the loss of targeting and measurement capabilities can be challenging for marketers. In order to reach their target audience, marketers now need to rely more heavily on first-party data, such as customer relationship management (CRM) data. This presents a problem for small and medium-sized businesses, since they may not have access to large amounts of first-party data.
Marketing and technology go hand in hand. During these unpredictable times, it’s essential for marketers to leverage the latest technological innovations to enhance customer engagement, establish brand loyalty, and improve the overall customer experience for those expecting personalisation and direct engagement. Top-performing marketers should actively stay abreast of the latest trends and tools which they can use to reassess their investments to achieve optimal results in the upcoming year.