Despite current business and economic uncertainties, the majority of marketers plan to boost budgets in the next 18-24 months by focusing on digital commerce and marketing analytics. But will these adjustments enable marketing resiliency for the post-pandemic era?
Current conditions should lead marketers to focus on technologies that foster adaptability, particularly when it comes to making up for lost in-person engagements. With face-to-face interactions going virtual, marketers have an opportunity to test-drive and implement AI-for-marketing tools that deliver convenient online engagement. This rise in technology however, could intensify client fears over the use of collected data, particularly when used for services from tech titans like Google, Facebook, and Amazon. The increased regulatory scrutiny into Facebook and Google this year has made it even more imperative for marketers to prepare for reactive shifts from clients regarding tech giants, as noted in Gartner’s 2020 Hype Cycle for Digital Advertising.
While marketers may anticipate digital advertising stipulations, a change in overall digital marketing strategies should also be expected. The tension over customer data could see technology management go in two directions, according to Gartner’s 2020 Hype Cycle for Marketing—the “Peak of Inflated Expectations” and the “Trough of Disillusionment”. While the former oversees consent of management technologies, the latter considers the legal and technical implications of deploying customer data-driven tech for marketing purposes. By focusing on the ethics of customer data in digital marketing, brands have an opportunity to develop moral frameworks that could ease client concerns. With Gartner predicting a peak in customer data ethics expectations in up to 10 years, marketers could take action now to innovate their strategies and become leading names in the push towards marketing modernization.
Digital marketing is set to greatly transform in the next decade, so marketers should prepare now to evolve with consumer demands. To learn more about the future of digital marketing and how to implement the Hype Cycle, tune in to Gartner’s upcoming webinar before September 22.