The craziness of 2020 led to a massive COVID-19 bubble in the proceeding years. In 2022, the stock market took a slide, inflation went up. And we’re in a recession, but not really in a recession.
The bottom line is budgets are getting cut, and marketers need to channel their inner minimalist and achieve more with less. Your ability to understand what’s effective at any given moment and then adapt has never been more critical.
In this post, we’ll discuss five trends that’ll shape marketing in the coming year. The ideas come from our panel of marketing tech experts who’ve seen just about every MarTech trend to date— Jon Miller, CMO at DemandBase, and Adam Grecco, Product Evangelist at Amplitude Analytics.
For years, companies have skirted the hard work of creating meaningful customer relationships and instead relied on the convenience of Facebook and Google ads. But recent changes to privacy laws making cookies obsolete are compelling businesses to build more direct one-on-one connections with customers—something that should've happened two decades ago. Required logins for various websites will open up a world where users actively choose who can track them—ultimately improving industry standards across the board.
To be successful in this space, you need to rethink how you collect first-party data. It’s not just about targeting people anymore. It’s about providing an engaging customer experience that results in meaningful data insights and building trust with those customers.
You need to use first, second, and third-party data together.
Privacy concerns remain a major issue in B2C markets—individuals are understandably hesitant to share their personal information. Businesses are looking for other sources, including firmographic info, technographic, and intent data, as these focus on accounts rather than individual people. Companies don't have to sacrifice privacy for success in leveraging external datasets. To maximize value from all available resources, investment in CDPs helps collect, clean, and organize customer information without compromising trust—making them invaluable for any company looking to refine their ABM processes today.
First-party data is not a one-to-one substitution for third-party data. You’re not going to use first-party because they’re coming from different places and handling different information. If you want to compensate for the loss of third-party data, first-party data will be one of your choices.
- David Raab
- CDP Institute
With more Gen Z and Millenials making purchasing decisions, sales techniques are changing. These groups don't want to be talked at by a salesperson; they would rather do their own research and decide independently. That’s driving trends like product-led growth.
You need to adjust your practices to cater to the self-service buyer and focus on marketing strategies that enable customers to proceed through their purchasing journey without direct sales involvement.
Product-led marketing and product marketing are two strategies that can help you win the hearts of self-service buyers.
With product marketing, you can create content such as blog posts, videos, and webinars that detail the features and benefits of your offerings. Product-led marketing lets people self-serve through a feature-rich free tier or trial version of your product.
How Can You Take Advantage of the Shift to Self-Service?
- Focus marketing efforts on providing accessible, comprehensive content that answers the questions buyers are likely to have.
- Make demos and free trials available and have a marketing plan to promote them.
- Be in more places beyond your website and offer buyers a variety of sources on their buying journey.
- Cultivate user-generated content to drive peer-to-peer marketing.
Today's B2B buying process is far from a linear journey. It's an intricate, multifaceted soccer match with moments of passing the ball back and forth to score the goal. Such complexity makes it extremely challenging for marketers to demonstrate ROI on campaigns as sources are constantly being grouped together. With each player on the field affecting progress toward purchase decisions, defending marketing budgets may be a tougher proposition than ever before.
Attribution has been on a downward spiral, and those who claim to be able to measure marketing performance accurately are misguided. By 2023, this trend will be more apparent than ever—with experts relying on manual methods or leveraging AI and machine learning technology for incremental optimization of their advertising efforts instead of expecting significant results from any particular action alone.
While it can be tempting to make an all-in commitment with a single tech stack, the long-term costs are often too high for mid-market and startup companies. You risk losing out on pricing power without proper oversight during negotiations or when engaging multiple vendors. That's why most SMEs stick to the modern approach, which requires thoughtfully stitching together solutions from different providers—that way, you retain control over prices and remain agile enough to adapt to changes if needed.
How Do You Break Down Organizational Silos for Better Results?
- Establish a shared marketing goal across marketing, sales, and product teams.
- Develop marketing strategies that are designed to drive customer engagement from marketing through sales and products.
- Identify marketing KPIs relevant to the customer journey and measure marketing performance across marketing, sales, and product teams.
- Share marketing analytics insights with marketing, sales, and product teams to drive marketing decisions.
- Invest in marketing technology solutions enabling marketing teams to capture data across the customer journey.
Are You Ready to Adapt to the Marketing Stack Trends of Tomorrow?
As we move into 2023, it’s critical that you keep a finger on the pulse of marketing stack trends. Next-gen marketers who can anticipate change and pivot accordingly will be well-positioned to weather any storms that come their way and emerge victorious.
At McGaw.io, our team of MarTech experts can help you navigate these waters and ensure your tech stack is primed for success in the year ahead. Ready to learn more? Contact us today to get started.