Bounteous President Shares 2024 Predictions

By Thought Leaders Archives
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Michael McLaren, President, North America at Bounteous, on what the industry can expect for 2024.

  • The Continued Growth of the CDP -- We are going to see more focus on extracting tremendous value from CDP investments. Factors like the increasing adoption of artificial intelligence (AI) and machine learning (ML) to help interpret data in CDPs, the growing demand for real-time data integration, and the increasing need for customer management and data security will lead to the development of more sophisticated and powerful capabilities with the CDPs that will help businesses to deliver personalized and omnichannel customer experiences.
  • Generative AI -- We’ll start to see the real impact of Generative AI across a broad range of industries and across a wide front of customer experiences. For example - in industries like healthcare, where customer experience can be a big issue - we will see the development of compelling use cases in areas like claims processing, member support, member experience, and communications, which are all areas ripe for improvement and are areas where the experience can be enhanced with AI.
  • Cloud Computing Will Continue to Expand and Become More Accessible -- As cloud computing continues to grow in 2024, we will see increased adoption by businesses of all sizes as cloud providers build more turnkey SaaS solutions and pricing models, lowering barriers to entry and making it easier for businesses to manage their cloud resources. With this will come a greater focus on cloud security and compliance as well as new compliance standards.
  • The Rise of Smart Agents -- Marketers will increasingly develop and implement intelligent software tools and add-ons like voice-activated search and chatbots as a means to help customers navigate content and make getting to what they are looking for faster and easier.
  • The Continued Convergence of Physical and Digital Worlds -- We see an increasingly “phygital” world emerging - built around customer preferences and desires. Take the ordering experience at Shake Shack - you can engage with the brand through a plethora of physical and digital channels - kiosk, mobile, online, store, drive-thru - allowing customers to engage in those channels that are right for them.
  • Loyalty -- Although loyalty has been overlooked in recent years - we see it returning to take a leading role in the coming years. Customer acquisition will always be important - but nurturing and rewarding customers and building an increasingly loyal user base will become more valuable than ever and will be an increasingly important component of the marketers' toolkit.

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