The sole benefit of the pandemic was that it accelerated the martech transformation efforts of organizations, changing the customer relations landscape while exploring new technology solutions to alleviate the uncertainty created by the pandemic. While the uncertainty of the pandemic has altered marketing practices, a recent survey indicates that martech investments could drive revenue growth of up to 40% over the next five years. Organizations must capitalize on this opportunity while working past the challenge of their current marketing platform landscape remaining fragmented, with disparate data sources and current budgets that don’t allow for massive transformation.
The pandemic all the same positively affected customer sophistication and expectations and online buying and interactions. This opened up a new demographic that had not interacted with brands before and is now comfortable with online interactions. The customer is now more active and vigilant with a constant eye on what they want and value for money at every interaction with your brand, with customer loyalty taking a beating in favor of a better product/service.
What could be the right way to use AI to your advantage in such a scenario? Frank Palermo, EVP & Head of Technology, Media & Telecommunications, Americas at Virtusa, shares a few practical ideas you should consider to further your martech transformation using AI.