As India"s digital economy strengthens, the merging of marketing and technology, better known as martech, is expected to witness significant growth too. This trend has further been accelerated by the shift in consumer behaviour due to the global pandemic. Digital has become a key channel not only for customer acquisition and engagement but also for conversion and retention.
Today martech plays a pivotal role in automating processes and making marketing easier for businesses. The global martech spending in 2021 was around $344.8 billion, a figure that demonstrates the effectiveness of martech in almost every organisation.
Storyboard18 spoke to digital experts to understand and identify key martech trends that will define the Indian market in 2022 and beyond.
“Using first-party cookies, marketers can identify the visitor"s behaviour as long as they are on their website, including the user journey, the number of website visits, and other fundamental metrics. However, marketers can"t access data related to their visitor"s behaviour on other websites that aren"t affiliated with their domain," says Himani Agrawal, vice president - media & analytics at OML Entertainment.
“Local publishers will need to make heavy investments in building a functional CDP (customer data platforms). This will be at least a three to five-year capital expenditure. I am not sure how many of them will have the appetite to invest in this," he adds.
Ragothaman also points out that there will be a rampant proliferation of many more walled gardens with large publishers attempting to behave like the Big 5 in creating a closed-loop ecosystem where they can create a safe environment for data sharing that will help them provide better targeting.
“This will logically lead to the emergence of clean rooms. This, to my mind, is the second most important tech trend in 2022," he notes.
Machine learning-based marketing models are set to transform the marketing industry with risk prediction, better return on investment (RoI) and better targeting and personalisation.
“AI-based marketing is set to utilise detailed information on the buying pattern of customers. It is crucial to predict user requests and increase sales. Consumers have already managed to get used to personification on the Internet, with platforms like YouTube, Netflix, Amazon developing robust algorithms for deep personalisation. This trend is only going to strengthen going forward," says Amit Wadhwa, CEO, Dentsu Creative group India.
OML Entertainment’s Agarwal points out that brands like Estée Lauder and Johnnie Walker have already started building relationships with consumers through interactive voiceexperiences.
“Another facet of voice technology in marketing is that voice searches now impact SEO. Content marketers will have to evolve and adapt to this new technology and incorporate it into their marketing strategies," she adds.
“Developing the ability to spot and respond to these moments with personalised marketing approaches will be a key priority for many marketers in 2022," says Dentsu’s Wadhwa.
Today, consumers expect brands to understand and respond to their needs as individuals, offering them something unique and at the time and location that they need it.
“Technology, including AI and machine learning, can be used to identify these moments at scale and make personalised approaches directing consumers towards goods or services," he concludes.
First Published: Jun 09, 2022, 18:16
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