Chatbots Will Become More Human-Like Soon

The-Adtech-Industry-Is-Poised-For-Continued-Growth-(Interview---Karan-Patel)

Head of Marketing & Commercial – Etisalat Information Services, Karan Patel, shares his insights on future adtech trends and technological disruptions

“There will be a further rise among businesses (medium and large) in adapting CPaaS platforms to address customer engagement issues on their apps and websites. There will also be enhancements in creating customer journeys to provide users with the best experience and top-of-mind brand recall, which will eventually help convert a sale,” said Karan Patel, Head of Marketing & Commercial – Etisalat Information Services.

A digital business marketing professional with marketing communications relevant to the consumer as his specialty, Patel discusses the top anticipated adtech trends in 2023 and emerging marketing technologies that can disrupt the future of the telecom industry.

Excerpts from the interview

What ad tech trends do you anticipate?

The ad tech industry is globally poised for continued growth. The top industry trends for 2023 and beyond would be around a few adtech trends that I anticipate will undergo further development.

Hyper personalization: This trend will continue, and marketers will be able to provide a targeted customer experience with smart audience management and other data analytics.

AR & VR: It will witness further rise as excitement around the metaverse increases, and more and more brands will be willing to be part of this domain. AR and VR offer a multitude of possibilities for brands to engage with consumers both online and offline, in real-world or virtual, drive branding campaigns, in-store navigation and innovative online product discovery-cum-trial that mirror a physical shopping experience.

CPaaS: There will be a further rise among businesses (medium and large) in adapting these platforms to address customer engagement issues on their apps and websites. There will also be enhancements in creating customer journeys to provide users with the best experience and top-of-mind brand recall, which will eventually help convert a sale.

Which emerging marketing technologies do you see disrupting the future of the telecom industry?

The wearable tech integration trend will further mature, allowing marketers to reach potential shoppers at the right time and place, increasing conversion rates.

Due to machine learning and AI advancements, chatbots are likely to become more human in the next three to five years. The developments of voice bots like Google Assistant and Microsoft Cortana are more promising in this space.

Smart speakers are no longer a rarity in modern houses. According to a study, the number of voice assistants grew by 78 per cent between 2017 and 2018.

Millennials and Gen Z are known as the mobile-first generation—browsing is no longer a necessity but a ritual for them. Hence, the shoppers are shopping and ordering services on the go, and this trend is here to stay.

Customer data platforms are another promising digital marketing technology trend of the decade. During the next three to five years, these tools will become massive — the market value is likely to reach $3.2 million by 2023. The existing GDPR and data protection regulations will limit the freedom of marketers in data gathering, data management, and classification. It will be crucial for processing brand insights more efficiently.

Another feature, such as Lookalike Modelling, will become necessary. Marketers will use existing customer data to create other profiles of prospective customers and discover new target audiences.

How has 5G changed the game for brands and their digital relationship with consumers?

5G technology will improve speed, which is estimated to be over 20 times faster than 4G. Complex tasks can then be performed quickly with fewer interruptions. The brands that have invested in their cutting-edge innovations will significantly benefit from 5G enablement as IoT will continue to grow. 5G will provide the platform needed to drive IoT connectivity.

How would you recommend brands reprioritize their martech stack in today’s data and digital-first environment?

It’s imperative to understand brands’ business objectives, their challenges, and their plans to mitigate them. They must also revisit their current martech stack and understand what is working and what is not. Based on the initial analysis backed by data, the next course of action should then be recommended.

Considering Etisalat’s new content passes, how can digital content marketing enhance CX?

The right digital content strategy can increase the customer life cycle. Often the customization of marketing strategy is based on how your customers engage with your digital content or what are their topics, products, or services of interest. All these factors reflect an effective CX strategy.

If you liked reading this, you might like our other stories
Can Intent Driven Chatbots Enhance Your Business?  
Are Chatbots Taking Over The Conversation?