Transforming marketing with data science, AI and martech

The quest for more in-depth understanding of consumer behaviours can generate a considerable payoff, says KINESSO MENAT’s Karthik Kumar

The digital space of the Middle East, North Africa and Turkey (MENAT) region is rapidly changing and it is at a pivotal juncture to utilise technology and consumers’ insights, which are set to become the new age of marketing and interaction with the customers.

This transformation depends on the command of disciplines including data science, AI and Martech that are ready to reinvent marketing in the region.

Pioneering personalisation with AI and data science

Data science and AI act as one big team, which makes it possible to understand the needs of the people in this multicultural zone. They act as beacons of guidance, enabling navigation through the elaborate cultural terrain to help decode consumer conduct and predict future consumer preferences and activity in the market.

This machine learning and data science-based approach emphasises a wise use of first-party data, syndicated data and third-party data to create an outstanding customised experience while protecting data privacy.

By bringing this approach, businesses and clients form an interconnected system that benefits them all. The quest for personalised experiences and a more in-depth understanding of consumer behaviours generates a considerable payoff and therefore requires this strategic reorientation.

As per a recent study conducted among local firms, about 73 per cent of them have started directing funds towards artificial intelligence (AI) and data science.

The correct determination of ROI becomes a crucial necessity amid this continually shifting marketing and advertising terrain in the area.

Data science and AI are critical within this realm, especially for splitting campaigns into relevant segments to ensure that every marketing dollar invested translates into significant returns. 

Martech’s symphony of customer engagement

The latest Gartner findings show an impressive 42 per cent increase in uptake of Martech over the last year. Customer engagement went up by no less than 35 per cent.

There are lots of exciting things that promise to occur in the land of Martech, powered by data. Marketers are set to automate their tasks to carry out more specific and engaging campaigns through improved efficiency.

The dashboards for reporting provide dynamic insights with actions that can be acted upon immediately, thereby giving a more comprehensive view of each campaign’s progression.

Integrating Cloud-based platforms with global marketing platform providers (GMPP) will enable high-end analytical services and artificial intelligence, thus increasing the accuracy of marketing strategies.

At the same time, customer data platforms (CDPs) will continue to polish the customer experience, leveraging first-party data.

Cumulatively, these improvements foreshadow a dawn when Martech transcends being just a device and becomes the compass brands turn to in their quest to reach uncharted heights of marketing and customer relationship management.

Choosing a Martech platform is like picking an ideal racing car from the store shelf. This could mean the difference between making an Opel drive as fast as Ferrari or truly realising what a Ferrari is capable of.

Similarly, one’s decision on which vehicle to use can help determine one’s success in a race  just like one’s decision on which Martech platform to adopt can either make you overtake the competition or set you miles behind.

It is not only about having the tools but also about making smart decisions that match your strategy and objectives to leap forward ahead of competitors toward the final goal.

Audience identification and personalised targeting

First-party data forms the basis of audience identification and personalised targeting that creates a robust CDP platform. The business acquires vital research findings by incorporating first-party data.

According to a recent study by the CDP Institute, using CDP for first-party data improves the customers’ retention rate by 50 per cent, while at the same time leading to 40 per cent higher conversions.

The accuracy of audience identification and appropriate audience segmenting is very critical, and AI-powered tools are much more competent in it. This enables customised targeting, resulting in significant performance on advertisement campaigns.

Data science, AI and Martech, among others, are integrated into one coherent story that helps brands and clients move in the right direction in the ever-changing world of marketing.

This strategy involves utilising the essence and power of media, data and tech for the new age of marketing and customer engagement.

By Karthik Kumar, Managing Director at KINESSO MENAT