Machine learning and voice search investment rises for 2018-19
QueryClick, has today released The CMO Performance Report 2018, which has found a significant number of retailers plan to invest in transformative technology including machine learning and voice search to enhance their digital marketing campaigns.
The report, which includes a survey of over 150 Chief Marketing Officers for UK consumer brands with a revenue of over £150 million and an eCommerce offering, found that 66 per cent of CMOs for large retail brands have plans to invest in machine learning to enhance their digital marketing strategies within the next 12 months.
The survey also found that over half (53 per cent) of retailers will invest in voice search technology within the next 12 months. By 2019, the voice recognition market is predicted 50 billion voice searches per month today.
Another growing trend, the study found that retailers will continue to invest in influencer marketing to promote their brand and products. 63 per cent of CMOs for large retailers said they will be investing in influencer marketing within the next 12 months. This follows reports that influencer marketing grew by 198 per cent in 2017.
Chris Liversidge, founder and CEO of QueryClick, commented:
“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. 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.
“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.”