10 Predictions for the Future of Marketing Software
Marketers are facing more difficulties and demands than ever before in the digital world. As a result of these developments, the marketing world as we know it is evolving rapidly. Because of these changes, the technology marketers use must also evolve. In order to stay ahead of the curve and ready for what's next in marketing software, we've compiled a list of 10 predictions for the future of marketing software.
June 15, 2022
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In today’s digital landscape, marketers are facing new challenges and pressures than ever before. From fragmented audiences to increasing brand transparency, the marketing world as we know it is changing — fast. And because of these changes, the technology that marketers use needs to change too. To help you stay ahead of the curve and prepare for what’s coming next in marketing software, we’ve put together this exclusive list of 10 predictions for the future of marketing software.
More Brands Will Adopt AI and Machine Learning
Given the current state of marketing technology and the advancements that are being made in AI and machine learning technology, we expect more brands to adopt AI and ML solutions in the future. There are a number of benefits to implementing AI solutions, including savings in time and costs, better scalability, and increased accuracy in reporting and analytics. But, perhaps the biggest advantage of implementing a marketing automation solution that uses AI and ML technology is the level of sophistication and intelligence that is applied to the marketing process. To put it simply, AI solutions are able to learn from data and past experiences, helping marketers to improve their campaigns and achieve better results. One example of a company that is leveraging AI and ML technology is HubSpot. Their newest product, Inbound Sales, is powered by an AI-based sales engine that is helping sales teams generate more leads and close more sales.
Marketers Will Shift Their Focus to Conversational Marketing
As more and more brands start to adopt AI and machine learning technology, marketers will shift their focus from transactional to conversational marketing. That is, marketers are moving away from one-way marketing (e.g., push notifications, emails) to two-way marketing (e.g., live chat, personalized marketing experiences delivered in real-time). By shifting their focus to real-time, personalized marketing experiences, marketers have the opportunity to leverage their existing data and create more meaningful connections with their audiences. In fact, recent data suggests that 70% of customers would prefer to have a real-time conversation with a company over interacting with a computer or an IVR system. To help marketer’s shift to conversational marketing, many marketing automation platforms are now offering real-time communications functionality as an integrated solution. HubSpot, for example, recently integrated their marketing automation platform with the newest version of Facebook Messenger to help marketers create engaging experiences that are accessible 24/7.
Marketers Will Become Data Mastery Experts
As marketing systems become more sophisticated, brands are expected to invest more time and resources in operationalizing their marketing activities. However, rather than outsourcing these activities to agencies or hiring specialized teams, more and more brands will look to invest in marketing tools that provide the functionality and scale that’s needed to run their marketing activities efficiently. And, as marketing teams become more experienced with marketing automation and AI-based marketing tools, they are expected to start looking for ways to customize their solution to meet their specific needs. In other words, marketing teams that have spent a few years operating their marketing automation solution will start to understand the value of data in the marketing process and how to use it to improve marketing activities. Marketers who have become data mastery experts will be able to take their data to the next level and use it to inform their marketing strategy. This is possible because marketing automation solutions are designed to facilitate a process called data-driven marketing. Essentially, data-driven marketing is a cycle that starts with data collection, followed by analysis and optimization, and ends with action-taking based on insights.
B2B Marketers Will Utilize Chat Bots to Grow their Business
As we’ve seen in other industries, the rise of AI-based marketing tools has led to an increase in the adoption of chat bots for customer service and marketing purposes. In fact, a recent report predicted that companies will spend $1 billion on chat bot software in 2019. This is due to the fact that chat bots are a cost-effective way to scale customer service, improve the quality of support, and provide better support to more customers. According But, as more companies begin to adopt chat bots, we expect to see B2B marketers also experiment with this technology. One example of a B2B company that is already leveraging chat bots is Salesforce. Their Einstein AI platform enables businesses to easily connect their CRM with a variety of bots to automate activities, answer FAQs, and provide real-time support to customers.
An Increasing Number of Companies will Move to Cloud-Based Solutions
As marketers become more familiar with new, AI-based marketing tools, they will likely look for solutions that have the functionality and scalability they need to run their marketing activities efficiently. In fact, we’ve already seen this happening, as the cloud-based SaaS marketing tools market has grown from $1.3 billion in 2016 to $2.2 billion in 2017. With more companies moving to cloud-based solutions, the number of companies leveraging on-premise marketing software is expected to decrease. This is due to a number of reasons, including higher costs associated with on-premise solutions, privacy concerns, and a desire for more agility, collaboration, and innovation.
As you can see, there are a number of trends that are impacting the future of marketing software. Some of these trends are relatively new, while others have been evolving for a while. However, one thing is clear: marketers today are facing more challenges and pressures than ever before. Fortunately, with advancements in AI and machine learning technology, marketers will have new tools to help them tackle these challenges.