Market Research Analyst Gartner – Digital marketing—and the technology platforms that enable its success—are short-lived. In the face of the global pandemic of COVID-19, brand marketing teams in various industry sectors are relying on digital technology to accommodate remote work and increase revenue to business operations. The result is a focus on investing in marketing technology that facilitates online engagement in the absence of real-world interaction. Enter Gartner’s 2020 Hype Cycle for Digital Marketing, which assesses the range of technologies in the hands of marketers and gauges how industry expectations have panned out, from hype to pessimism to maturity to reevaluation. We’ll take a look at the top five technologies that drive the hype cycle here.
But according to Mike McGuire, vice president analyst in Gartner’s marketing practice, the key word here is “hype.” He points out that just because a technology is coming out of the hype cycle and into a “production plateau,” that doesn’t mean it’s not important to marketers. Take email marketing, which has been off-cycle for years. However, marketers are still investing in email marketing. It only comes with maturity. There are standards and platform providers that offer the capability, McGuire said.
Market Research Analyst Gartner
Following a conversation with McGuire about investing in martech stacks, the technologies getting the most attention this year, the importance of data ethics and martech innovation in the era of COVID-19.
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Mike McGuire: Right now, by and large, our investment in technology [needs] not only to fit the bill of what a marketing team needs, but how to integrate those technologies into the marketing stack—not to meet Such a specific, critical set of tasks. This is how my marketing stack investment failed as a market in the traditional world. This app you buy, you hope it works. Take a large retailer: Can I also integrate this marketplace platform to enable this retailer to work in a changing environment, or is my system designed to work in just one complete environment?
For marketers, the first thing they need in March is skills in the martech stack with business cloud, mobile skills, to do things like buy online and pick up in store. We no longer see physical stores. It has happened, and now it is very difficult. I need to be able to process, to be able to handle requests. So, do my recommendations or special skills allow me to provide a better online browsing experience as a marketer? And does it have the technical or logistical capacity to receive orders over the Internet and enough security to back up the messaging system?
Therefore, when we look at these investments, we give satisfaction to the traders who use these platforms. They must adapt to their customers and prospects who operate in a very different and chaotic environment. Patience was an important message we tried to convey. It also offers us next-level event triggers and real-time capabilities. These are all capabilities that we’ve talked about and built into the martech stack for years, but this is one environment where it’s becoming especially important.
CM: Why will it take 10 years to reach full adoption of consumer data ethics, and what are the implications?
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MM: The topic itself is something that I don’t think activists think about. But there are two things. One of these obligations is that I must comply with laws and regulations that govern the collection and use of customer data or customer data. We can use things like terms and conditions. What we found in this research is that people make certain associations with brands. One of them is brand trust. It’s something we’ve been taught in business and marketing schools for decades – that a brand is more than just a function. Branding also has a lot to do with credibility. I “trust” that the running shoes or guitar I want to buy meet certain specifications because they say they have those capabilities.[As a consumer] I want to make sure that I understand, as part of my trust, that the seller has enough information about me to fulfill my request, but that they will do so ethically. As it is data, not just compliance. the way In doing so, I know they will not sell it to a third party from another company. This may be technically permissible because I chose to, but part of the idea of trust is transparency about how the data is being used. Today, we see this a lot, especially with California’s consumer privacy law that went into effect and GDPR in Europe. These conditions exist.
What we want to make sure is that we can start to develop not only the technology of regulation, but a way that shows empathy and understanding. We’ve done some interesting research on customer surveys where we ask marketers about some of the key brands or strategies they use to engage. [They say] “We send a lot of emails, and the dollars are better.” When we asked the customers on this side of the coin, what would they tell you, I like many brands. I buy from them regularly. On the other hand, my idea of love extends to the next stage, the offers that come to me from other brands. If another competing product comes along when I need it, I’ll look at it. Customers can now get information and they won’t just depend on you, your brand, to tell them what they need.
One of the things we look at when we start to build confidence is this: I have to get it every time I participate. And I have to be able to show that I treat the data in some ethical way. It’s not just a one-minute video on our Facebook page or Instagram page that says “we’re here with you” and we have sympathy for that. Don’t just tell me, show me.
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CM: Why do you feel AI is a challenge for marketers to master as a tool?
MM: A lot of our marketing can now be automated. But if we just take what the AI says and this is the fastest way to solve this problem, and we don’t put any kind of boundary around it, then we start to develop interesting risks. AI is very complex. It is a combination of techniques used that is not easy to see. It is a black box; You enter the data and it comes back and we don’t know how we got there. If we’re using some of these custom tools, you can take that data and put these constraints or conditions around it and create a segment that I can use for a marketing campaign.
AI can detect patterns that a human can do with a good computer, but it can take a lot of time. These systems can generate and process large amounts of data so quickly that they can begin to identify patterns. And if you change your message, you’ve opened up a new segment that you thought wasn’t interested in your product or service.
This includes the level of trust. Marketers should be comfortable with what the system produces…that they understand and trust that the product is something they can use. More importantly, back to the issue of ethics, would this product be an ethical and moral decision to target these consumers in this way? What data was used to achieve this capability with this particular product? We cannot just rely on what the system provides. Human control is particularly important. This is something that helps you with a lot of data and find out what you would have earned in a few years. But use these tools to help you visualize and understand this approach.
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MM: There are many methods that are very useful. One of these challenges is the visualization of people with real-time location information or location-based capabilities. But you need a good understanding of the group of users or individual users you are targeting. A former colleague explained the balance point: Intimacy does not equal permission. Many customers track the location of their apps because they don’t want to be disturbed.
Our last batch of surveys two months ago revealed that users will be able to view their location primarily in two use cases. A: I want to find a store near me with a service provider. the other is
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