The contradictory trends in martech this year are the need to consolidate (cut costs and prove value) and the need to innovate (especially around AI). The latest MartechMap shows the space has grown by 18.5% since May last year. The “Martech for 2024” report and the new map were published on Martech Day (May 7).
CX management platform Sprinklr is introducing “digital twins.” Not your average chatbot, a Sprinklr digital twin is more like an AI-powered employee, able to plan actions, create workflows and make decisions, but at speed and at scale. They are said to be more easily trained than chatbots and can operate within brand policies and guardrails.
The loyalty management market is set to grow at a CAGR of 17.3% between 2024 and 2029, more than doubling its value from $11.4 billion to $25.4 billion. The growth will be driven by gamification of loyalty programs, the spread of loyalty management mobile apps and, of course, the need to reduce churn. Going forward, loyalty management will increasingly be characterized by personalization.
Amazon advertisers can now measure results outside of Amazon stores using a new service from Stackline and Gigi. Gigi will enable unified audience buying for Amazon Marketing Cloud and Amazon DSP, which run ads in Amazon’s online stores and streaming TV channels such as Prime Video. Stackline’s panel-based multi-retailer attribution will track customer behavior across Amazon, Walmart, Target, and other major online or in-store retailers.