Three Common Martech Myths Debunked
With the help of mass digital transformation, the martech industry has propelled forward at a rapid pace over the last decade. As of May 2022, the industry reported nearly 10,000 martech solutions — up a massive 6,521% over eleven years — ultimately changing the way we live, work, shop, and play.
In today’s digital landscape, consumers have the upper hand. Their behavior is wavering with a greater emphasis on more personalized dialogues with their favorite brands and businesses. And with so many options, marketers must work harder to differentiate themselves from the competition.
I believe there are a few common martech myths and misconceptions that need to be debunked so your organization can better scale customer loyalty and stand out in a highly saturated environment.
Myth #1: Personalization is hard
I sometimes hear marketers say that personalization is hard, especially at scale. Suppose you’re looking at this concept from the perspective of the enterprise. If you’re relying on traditional first-party data sources that count on multi-channel purchase and engagement history across disparate systems, this myth may be true. However, not all personalization strategies need to rely on pre-existing first-party data.
If first-party data isn’t available, contextual data can serve the same purpose—maybe instead of using the first name, you leverage the city or neighborhood of your target audience to tailor the offer. You can also use time of day, season, weather, month, etc. to frame the value proposition and communicate with your customer effectively.
Myth #2: Ads are a one-way street
For years, marketers have embraced digital advertising, but it’s often considered a one-way street. Say your brand pushes out an ad, but it only includes an option for the consumer to click a link or call a number to make a purchase. But what if they have a question the moment they see your ad? When your brand isn’t anticipating the next exchange in the customer journey, you’re missing the mark.
Marketers have the power to create ads that consumers can “talk to” and have questions answered immediately at the point of interest. With just a few clicks, these conversational ads can take customers directly from the clickable content to a live conversation on which messaging channels they prefer, like SMS, WhatApps, Facebook Messenger or Instagram DM. From there, they can opt-in to learn more, explore adjacent products, and even make a purchase — without ever having to leave the messaging channel.
Myth #3: Chatbots lack human emotion
Consumers are ready to engage with their favorite brands and demand real-time responses 24-7. Chatbots are one solution that can help solve their problems and save time.
According to one report, 70% of people have interacted with an AI-powered chatbot at least once. But despite advancements in conversational AI and natural language processing (NLP), chatbots are perceived as overly robotic and lacking personality. While chatbots are convenient, consumers prefer human-like interactions similar to what a live agent can provide.
With brands looking to humanize their interactions with consumers, marketers are poised to change the perception of chatbots by removing “bot” from the conversation altogether. Chatbots equipped with natural language understanding (NLU) are fluent in over 100 languages and can interpret what a customer is trying to say even if their messages include typos or slang. NLU chatbots can also mimic the tone or dialect of a customer, adding a human-like touch to the conversation while reducing wait times and strain on live service agents.
The big picture
The key to winning consumer attention is delivering a valuable experience, which is exactly what today’s consumers are craving. And marketers can earn consumers’ trust with a more conversational approach to their marketing and advertising strategies.
Consumer expectations are high, but brands and businesses have options when it comes to choosing the right martech tools and solutions to not just reach their audience but create a seamless experience that earns consumer trust.
Matt Ramerman is President of Sinch for Marketing.