Choosing the right marketing technology investments is difficult. Considerations include short-term needs, long-term goals, budget, resources, ROI and more. Additionally, it is essential that involved staff members understand the technology, its capabilities and functions. There are certain mainstays we can agree on including email, websites and CRM systems. Now, with the ever-changing world of technology, new, trending and experimental tech is risky. In fact, according to BigCommerce, 47.4% of small businesses are “not at all interested” in new technologies and would rather “wait and see” before making an investment. With rapidly progressing tech, “wait and see” can actually translate to “too late” when compared with competitors.

Transformative Technology

Before any technology becomes an integral component of our business lives, it first goes through many stages. While it is important for some companies to be on the cutting edge, “tried and tested” can provide a layer of security when selecting and adopting technologies. Many marketers agree technology will transform how we work in the future. Let’s take a closer look at some of these up-and-coming technologies.

1. Artificial intelligence and machine learning. These technologies have come to the forefront in recent years and continue to grow in interest, acceptance and use. Artificial intelligence describes systems designed to “think” like humans. Machine learning uses statistical techniques to give computer systems the ability to “learn” from data without being explicitly programmed. When used in conjunction with existing technology, personalization becomes highly achievable. Machine learning gives our programs intel about our prospects, their buying habits and their challenges so we (and our AI) know exactly what they’re looking for. The field is expected to grow exponentially with 73% of marketing executives seeing AI or a technology dependent on AI as critical to the future of marketing.
2. Automated bots. Already in use with many B2C organizations, bots use AI to communicate with customers, formulating responses in a human way. Automated bots can answer frequently asked questions, schedule appointments or reservations and replace customer-service lines. An approachable and accessible chatbot can answer questions 24 hours a day for a cost far less than an employee. Even with some hesitation from customers who would prefer human interaction, 48% of consumers would rather connect with a company via live chat than any other means of contact.
3. Geolocation tech. This technology has already changed the way SEO works and continues to accelerate personalization. It has significant impact on B2C marketing by identifying a user’s exact location via IP address to find a storefront. B2B marketers see its effects in terms of demographics, locality and interests.
4. Voice-first computing. Widespread use of voice recognition software such as Siri, Alexa and Cortana has also changed SEO. Change for this technology has been exponential, and many marketers see it as “the next big wave.” In fact, 20%  of marketers believe voice-first technologies and smart assistants will have the most significant impact on marketing in the coming year.
5. Blockchain and cryptocurrencies. Not just affecting marketing, blockchain and cryptocurrencies have the power to change business transactions across the board. Many believe traditional banking solutions are on their way out. The widespread use of blockchain transaction data and cryptocurrencies, such as Bitcoin and Litecoin, may take its place. The opportunities for global markets, reliable privacy and ease-of-access are enormous. However, there still is a lot of progress to make. Only 4% of marketers think these technologies will change marketing by next year, but many are looking further down the line.

Synergy and Success

When it comes to marketing technology, it is important to understand the technologies work synergistically. A website is essential. It is exponentially more effective when teamed with conversion forms, automated email and CRM integration. Just as with any other business initiative, it’s not only what you do but how well you do it. When you incorporate forward-thinking and innovation into your marketing plan, it helps you develop and maintain a competitive edge, capitalize on emerging trends, leverage data and create success for the future.