The Martech Report 22/23

Martech is more important than ever, and despite a more challenging economic situation in 2022, martech budgets are continuing to grow. The global market for Martech and Salestech is estimated to be worth $508.9bn.

As our latest State of Martech report finds organisations face a number of challenges around marketing technology. The biggest one is finding the skills and talent needed to drive martech initiatives.


2022 Martech Lessons Learned for 2023

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2022. What a year. Well, now to get started with 2023. Onto the next thing and all that. Wait, we've got to learn from 2022's mistakes?! That seems like a lot of work. 

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As we dive headfirst into 2023, I'll admit it - it's essential to take a moment and reflect on the lessons we learned from the previous year.

2022 presented an array of challenges for marketers, from the ongoing global pandemic to the rapid acceleration of digital transformation. However, through these difficulties, we gained invaluable insights that will undoubtedly shape our approach to martech in the year ahead.

The trends that emerged in 2022 will undoubtedly influence marketers' strategies in 2023. The pandemic accelerated the shift to digital, forcing companies to prioritise their online presence and e-commerce capabilities.

As a result, we saw a significant increase in the adoption of new martech tools and technologies, such as AI-powered chatbots, programmatic advertising, and voice search optimization.

However, it wasn't all smooth sailing, and the challenges we faced in 2022 will serve as valuable lessons for the year ahead.

Companies struggled with data privacy concerns, increasing regulations, and the constant evolution of consumer behaviour. These difficulties recognised will allow marketers to pivot their strategies and learn from their mistakes, ultimately leading to more effective campaigns and stronger customer relationships.

In this article, we'll take a closer look at the lessons we learned from 2022 and how they'll shape our approach to martech in 2023.

We'll explore the trends that grew in popularity, the challenges that arose, and the opportunities for growth that lie ahead. By reflecting on the past year, we can better prepare for what's to come and ensure that our martech strategies are well-positioned for success.

Investing in Email

As we move into 2023, it's important for businesses to reflect on the lessons they learned during the pandemic and how they can use that knowledge to improve their marketing strategies. One area that saw significant investment in 2022 was email marketing.

Many business owners realized the potential of email during the pandemic and invested in better platforms to take advantage of everything it has to offer.

While some businesses put their investments on hold to see what would happen in the economy and labour force, the majority increased their spending on email marketing.

Front-line marketers played a key role in this, effectively communicating the power and opportunity of email to their organizations. By educating their executives and highlighting instances where email could solve company problems, they were able to secure funding and increase spending on email marketing.

This approach is something that all marketers should consider in 2023. By thinking like a business owner and treating their marketing programme as a valuable asset, they can communicate its importance to executives and secure funding for their initiatives.

Brand Safety

Another important trend to consider in 2023 is brand safety.

Consumers now expect brands to take a stance on a range of cultural and ethical issues, and maintaining a safe and coherent brand image is more important than ever.

Companies need to carefully curate their content and where it is displayed to ensure that they are not associated with controversial or harmful content.

The issue of brand safety became particularly visible in 2022, with concerns about brand placement during the war in Ukraine and the exodus of advertisers from Twitter after Musk's acquisition.

In 2023, we predict that brand safety will become a core product offering for the majority of companies, and a deciding factor when selecting marketing partners.

To stay ahead of the curve, businesses should consider investing in sophisticated AI tools that help to keep their brand safe. By staying up-to-date on the latest trends and investing in the right technologies, businesses can ensure that they are well-positioned to succeed in 2023 and beyond.

The Growth of Chatbots

As we transition from 2022 to 2023, it's important for businesses to stay ahead of emerging trends to ensure their continued growth and success. One such trend that has been gaining momentum over the past few years is conversational marketing.

Customers today no longer view brands as faceless entities as they simply purchase products or services from them. Instead, they expect to be able to have real conversations with the brands they love. This trend has been fueled by the rise of social media and chatbots, which have made it easier than ever for users to interact directly with companies.

During the pandemic, this trend became even more pronounced as the volume of interactions with company chat platforms increased by 250% in many industries. As we move into 2023, we predict that conversational marketing will become even more important as businesses seek to provide users with the engaging experiences they're looking for.

One key way that businesses can tap into this trend is by opening new lines of communication with customers on popular messaging platforms like Messenger, WhatsApp, and Slack. By doing so, they can meet customers where they are and provide them with the kind of personalized, responsive service they expect.

Of course, managing these chat channels can be a daunting task, especially for smaller businesses. That's where AI-powered chatbots like ChatGPT come in. By leveraging the power of natural language processing and machine learning, these chatbots can answer many user questions with little to no intervention on the part of the brand.

In fact, the chatbot market is expected to grow to $32.62 billion by 2030, signalling just how important this technology will be in the coming years. By embracing conversational marketing and investing in AI-powered chatbots, businesses can stay ahead of the curve and provide their customers with the kind of engaging experiences they crave.

No Code for Digital Marketing

No-code technology has become a crucial asset for businesses of all kinds, and these martech trends show no signs of letting up. According to Gartner’s study, by 2025, 70% of newly built enterprise apps will employ low-code or no-code technology.

This surpasses app development. As part of the no-code trend, solutions for constructing web questionnaires, pages, bots, and workflows may be created without writing a single line of code.

Throughout 2023, no-code solutions will evolve from “basic” use cases, such as landing page creation, to more complex use cases, like building a partner directory or doing data analysis.

At LXA, we identify, analyse and evaluate the trends that have the potential to impact marketers and their careers.

Exponential technological change, new customer journeys and increasing evolution of business models are trends that make the future increasingly difficult to predict. This presents a challenge to marketers who want to keep their skills up to date and organisations who need to continually innovate.

One of the trends we’ve been tracking at LXA is the growth of no-code and low-code development. It’s been gaining traction in recent years and holds the potential for marketers to extend their skills to navigate technological change and work more proficiently with marketing technology.

That’s because now more than ever, marketers hear about the importance of being fluent in technology to have successful careers. This includes an element of programming to be able to get marketing technology tools to work synchronously.

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The Use of No-visual Audio

Looking ahead to 2023, marketers can benefit from the lessons learned in 2022 when it comes to leveraging no-code technology. As businesses continue to prioritize efficiency and agility, no-code solutions have emerged as crucial assets across industries, including marketing.

Gartner predicts that by 2025, a whopping 70% of newly built enterprise apps will be built using low-code or no-code technology. This highlights the growing importance of no-code solutions in app development and beyond.

As part of this trend, marketers can look forward to even more advanced no-code solutions in 2023. While basic use cases like landing page creation have become common, no-code solutions will evolve to support more complex tasks like building partner directories or performing data analysis.

By embracing no-code technology, marketers can streamline their workflows, reduce costs, and improve collaboration. As businesses continue to embrace this trend, marketers who stay up-to-date on the latest developments in no-code technology will be better positioned to succeed in 2023 and beyond.