In their session at the Gartner Digital Marketing Conference, Adam Sarner and Mike McGuire, research vice presidents for Gartner for Marketing Leaders, pinpointed specific trends on the Gartner Digital Marketing hype cycle to describe which ones will have the most impact on digital marketers. The hype cycle illustrates technologies that move through the peak of expectations to the trough of disillusionment and eventually to the plateau of productivity. The trends break out into underlying trends, emerging trends, and prevailing trends that continue to provide value to marketers. These tends are rising to the peak of inflated expectations and will reach the plateau of productivity in less than five years: Real-time marketing. This moves in customer time as consumers create links to each other and to brands.
Marketers' desire to unify disparate sources of customer data to activate interactions and deliver relevant experiences fuels the rise of two important technologies: Customer data platforms (CDPs) and multichannel marketing hubs rose to the Peak of Inflated Expectations in the 2018 Hype Cycle. CDPs enable marketers to stitch together an array of data sources and orchestrate that data for activation across numerous execution systems, such as email and websites. Multichannel marketing hubs, a combination of digital marketing hubs and multichannel campaign management solutions, rose to near the Peak because they promise a more integrated approach. They allow marketers to manage the life cycle of their programs across all channels within one solution.
Some 61% of senior marketing leaders expect their marketing budgets to grow in 2020, according to the survey. That contrasts with the recent trend toward budgets that are roughly flat, most recently slipping to 10.5% of company revenue this year from 11.2% in 2018, Gartner found. And 86% of respondents said the political and economic environment would have a positive impact on their business results in the next 18 to 24 months, according to Gartner. The research and advisory firm surveyed 342 marketers in North America and the U.K. at companies with $500 million or more in revenue. Consumers slowed spending and businesses cut back in August, meanwhile, as economic warning signs accumulate.
"Hype – an ingenious or questionable claim, method, etc., used in advertising, promotion, or publicity to intensify the effect." Hype, by definition should make us all a little wary. Gartner Hype Cycles are designed to help sift, sort and qualify hype and manage our attraction to all those bright shiny marketing objects. The ultimate aim is to support decisions on where your valuable attention and marketing resources should be directed. For 2016, Gartner combined the Digital Marketing and Advertising Hype Cycles into a single report responding to a more integrated marketing approach and the need for a more complete, single view of the technologies and practices shaping modern marketing.