Here at RedPoint, we’re fortunate to have some of the best minds in marketing technology (martech) serving our customers. As 2016 wraps up, we tapped these experts for their predictions about marketing technology in 2017. From the Internet of Things (IoT) to machine learning, the future is dazzling for marketers in general and martech in particular. Here are a few predictions from our team for the year ahead.
From RedPoint CTO George Corugedo:
- 2017 is the year of the Golden Record. More marketers than ever before understand why customer data platforms (CDPs) are a vital part of their marketing stack on the road to achieving a golden record. Because of this, 2017 looks like it’ll be a banner year for CDPs; the proof is in the numbers, and you’ll start to see this with the recent launch of the CDP Institute. This technology is on the mind of more marketers, and for good reason!
- CMOs will start to close the skills/tech gap. Achieving actionable insights from all customer data will continue to challenge marketers in 2017, which isn’t a surprise given most CMOs use a variety of vendors to manage their needs. What will change though is that more CMOs will get the in-house skills needed to harness data or find the right technologies that don’t require specialized and expensive know-how. This is how a CMO moves towards becoming the Chief Digital Officer.
- The “Great Data Land Grab” between Marketing and IT will resolve. Marketing and IT have historically competed for ultimate responsibility of their customer data. This “Great Data Land Grab” will resolve in 2017, with cooperative teams formed to help solve the problem because CEOs will demand a solution to the problem.
- The death of “Walled Garden” architectures. In 2017, marketers and others interested in digital transformation will realize that walled garden solutions aren’t sufficient for modern digital engagement. This will lead marketers to better integrate on- and off-line customer engagements, largely because of more effective technology utilization. These companies will leverage a connected, open marketing technology ecosystem to craft more intelligent customer engagements.
- B2C marketers cut ties with legacy solutions. The need to support real-time decisioning in the face of the Internet of Things has made traditional products obsolete, largely because they can’t scale and don’t offer the same flexibility and power to support the next generation of marketing needs. 2017 will be the year that more B2C marketers break away from legacy vendors as they search for better alternatives.
- It’s the message, not the channel. Many marketers still see a tight coupling between message and channel. This type of approach further entrenches the fragmentation of most marketing environments. In 2017, marketers will begin to adopt technologies that abstract the message away from the channel, allow marketers to plan messaging more strategically, and let the software show the right message, regardless of the channel.
RedPoint VP of Product Strategy Patrick Tripp shares some of his predicted 2017 trends:
- Real-time marketing will evolve into full enterprise customer engagement. Real-time marketing, once limited to social newsjacking efforts by big brands, has evolved into an enterprise customer engagement strategy. The process of automating data capture and interaction management has been classically difficult to achieve for most marketing organizations. In 2017, more marketers will take advantage of data science, artificial intelligence (AI), and machine learning tools such as models, scorecards, or predictive analytics. They’ll play the numbers game to determine what audiences, segments, or individuals are most likely to respond and ensure an ongoing feedback loop drives future decisions.
- Mad Men will give way to MadTech. The convergence of martech and ad tech is a hot topic right now, and 2017 will be the year we’ll see serious convergence of the solutions. Salesforce’s acquisition of Krux, Oracle’s acquisition of BlueKai, and CXense’s acquisition of Maxifier are just a few examples of this emerging trend. Creating a bi-directional exchange of data between customer data platforms (CDPs) and data management platforms (DMPs) is a huge challenge and a fantastic opportunity for brands that want to engage with consumers in more targeted and effective ad experiences.