Retail brands to focus investment on machine learning and voice search

July 9, 2018 by Aimee
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Cutting-edge tech will underpin digital marketing strategies at large retailers during the next 12 months. According to the latest CMO Performance Report published by QueryClick, two-thirds are planning to invest in artificial intelligence and machine learning.

The content marketing landscape is becoming increasingly saturated, and brands believe they need to find new ways to cut through the noise. Making better use of data is seen as essential for gaining a competitive edge. This approach will enable brands to understand how customers are using different channels and platforms, so they can serve up relevant messages at the right time.

150 chief marketing officers at enterprises that have an e-commerce site, and revenues exceeding £150m, were surveyed for the 2018 report. 66% said machine learning and the use of software applications and algorithms to learn and predict outcomes would dominate their spend in 2018 and early 2019.

Voice-powered search has not truly taken off yet despite the popularity of personal assistants, such as Alexa, but three-quarters of CMOs said they will overhaul their SEO strategies soon to have a better chance of ranking on the first page of voice search rankings. About 43% said this will happen during the next 12 months, while 32% expect to wait a little longer before doing so.

Just 3% of the brands surveyed said they had already optimised SEO for voice search queries. This area is of growing importance, as consumers are now making 50 billion searches by voice every month. Those that trailblaze could reap huge benefits in terms of driving traffic.

Influencer marketing is now maturing after bursting onto the digital scene several years ago, and 63% of CMOs said they would continue to invest in high-profile individuals, celebrities and other people to promote services and products. A recent report found influencer marketing soared by 198% last year.

“Consumer attention is under an unprecedented assault from brand messaging and content across more channels than ever before, and retailers are fiercely competing for their share,” QueryClick founder and CEO, Chris Liversidge, said. “Amidst the challenges, however, lie opportunities for retailers able to rebuild their strategies using data science to truly understand what consumers want, and consistently engage with them.”

Content marketing trends in 2018 have been dominated by personalisation and engaging with consumers across a growing number of digital touchpoints, so it is no surprise that brands are looking to new technology to improve how they approach this more complex undertaking and better drive their return on investment from general digital endeavours.

Liversidge added: “An investment in digital, including machine learning technology, that allows retailers to track and unify the customer journey across all channels, and allows them to deliver timely, targeted messages to capture demand, is fundamental to their success.”

A separate report published by Qualtrics last week found a quarter of marketers still rely on “gut instincts” rather than data analytics to inform decision making and campaign strategies. Two-thirds said they don’t have the time perform “complex analysis”.

 

Aimee