Exciting for emerging technology marketers like blockchain, AI, and IoT platforms, but many businesses are not getting the ROI they expect.
This is according to a GetApp survey of 301 marketers, with 65% saying emerging Martek inspires them to do their best, but nearly half (49%) admit they have faced integration issues, challenges with these widely promoted technologies, including governance, complexity, and cost. .
Investing in emerging technologies can be risky. GetApp’s research seeks to unpack how these new technologies stack up against more well-established technologies by measuring ROI and identifying advantages and challenges.
The ROI timeline can vary significantly, so businesses should plan their investments accordingly. These emerging technologies are rated the highest among marketers for generating ROI in two years: Chatbot (69% of marketers report ROI in less than two years), Virtual Reality / Augmented Reality (60%) and AI / Machine Learning (59%). In contrast, blockchain technology takes the longest positive return: 42% of marketers who use this technology say that it takes 2-5 years to create a positive ROI.
Marketers are embracing emerging technologies, even if it takes time to create ROI. The most popular emerging technologies are voice search (59% of marketers who have invested in this technology in the last 12 months), IoT platforms (53%), and chatbot technology (49%). Overall, marketers say emerging technologies can help enhance the customer experience, provide competitive advantage and create better products and services.
Despite their interest in emerging technologies, 58% of marketers still believe that there are realistic alternatives to new, emerging, or disrupted technologies that should be considered. Surveyed marketers say that well-established technologies such as social media management, customer relationship management and marketing automation platforms are more valuable in meeting marketing objectives than emerging technologies.
Meghan Bajaman, senior marketing analyst at GetApp, said: “Emerging Martek is exciting because it can offer marketers a great competitive advantage. However, it is important to take a step back, set expectations and evaluate business priorities. This investment takes a positive ROI. Businesses also need to be prepared to play long games. “
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