Kevin Wang, CMO of Elegoo: “AI holds tremendous potential for revolutionising the future of marketing”

The worlds of quantum computing and marketing could shortly collide — this is just one of the bold predictions by Kevin Wang, Co-Founder and CMO of ELEGOO, in this wide-ranging interview. “The ability to process complex data sets at unprecedented speeds may open new possibilities for insights and strategies,” he told us.

It’s a tantalising thought, but we shouldn’t be surprised. Kevin has a rich background in the fields of marketing and international trade, and after gaining valuable experience at Aukey Technology he saw an opportunity to create his own company. Read how a Kickstarter campaign raised $3 million for a printer in our exclusive interview with Kevin Wang, CMO of ELEGOO at Formnext 2023.

To find out exactly how Kevin sees the world AdTech and Martech changing in the coming months and years, including the role of AI, keep reading!

Why Dust or Magic? That stems from a quote by legendary American advertising creative director, William Bernbach: “An idea can turn to dust or magic, depending on the talent that rubs against it.” (And if you’re wondering where you’ve heard the name, Bernbach was the inspiration behind Don Draper of Mad Men fame.)

Could you please introduce yourself to our audience? What motivated you to pursue a career in marketing, and how did you embark on your journey in this field?

I worked in the technology field for many years and have been executing global marketing and international trade promotions for 13 years.

My journey into marketing was fueled by a passion for connecting people and products on a global scale. I’ve always believed that effective marketing is not just about selling products; it’s about creating meaningful connections, understanding diverse markets and navigating the intricate landscape of international trade.

What are your thoughts on the escalating integration of AI in digital marketing and its potential influence on the future of marketing, martech and social media?

AI in digital marketing is definitely a significant trend with profound implications and I think it holds tremendous potential for revolutionising the future of marketing.

Normally marketers need to take tonnes of time to discover and create campaigns, and most likely users may not buy them. It happens quite commonly in this field because representing creative and appealing thoughts is such a challenge for everyone. AI allows creators to achieve more sophisticated and accurate personalised projects in marketing efforts in the most cost-effective way.

By analysing vast amounts of data, AI can tailor content, recommendations and advertisements to individual preferences, behaviours and demographics.

AI-powered predictive analytics also help us to predict future trends, customer behaviours and market dynamics. This empowers marketers to make strategic decisions that are more likely to yield positive outcomes.

In fact, AI affects everywhere in marketing. Even down to how marketers engage with audiences, make decisions, optimise their strategies and gain social media insights. We now truly live in a world of AI influence.

However, the challenges AI brings out also need to be addressed. This includes ethical considerations and the need for ongoing skill development among marketing professionals.

As AI becomes more integral to marketing, ethical considerations such as data privacy, transparency and responsible AI usage become paramount. We marketers face the need to strike a balance between leveraging AI for personalised experiences and respecting user privacy and consent.

How do you ready yourself for an AI-driven landscape as a marketing leader? What new skills do you need?

The field of AI is rapidly evolving, and as a marketing leader, I need to stay updated on new developments, trends and best practices. Even though I now work in a management role, gaining a foundational understanding of AI is undoubtedly a must.

Strong data literacy skills are necessary. Stay informed about the latest AI-powered tools and technologies in the marketing technology landscape. Be familiar with data analytics tools and platforms. Understand how to collect, interpret and leverage data for marketing insights. Finally, learn how to integrate and leverage these tools to enhance marketing campaigns and strategies.

Doing all this will help you identify areas where AI can provide the most value, whether it’s in personalisation, predictive analytics or automation. All of these help me to deepen my understanding of customer experience, journeys and preferences.

Also, we can try to foster collaboration with data scientists and AI experts. While marketing leaders don’t necessarily need to be experts in building AI models, having a collaborative approach with those who can will lead to more effective AI implementations.

Adapting to an AI-driven landscape is an ongoing process. As a marketing leader, I need to continuously seek opportunities for professional development, engage with industry forums, and actively apply AI concepts to real-world marketing challenges. We all need to embrace the transformative potential of AI.

Looking ahead to 2024, what AdTech trends do you expect to dominate?

It’s hard to say which AdTech will rule the field, but there are some obvious trends we should pay more attention to.

Programmatic advertising will continue to evolve, incorporating more advanced technologies and strategies. This includes the adoption of header bidding, programmatic direct deals, and innovations in real-time bidding to enhance efficiency and transparency.

Privacy-first advertising can’t be ignored. With increasing regulations and growing concerns about user privacy, AdTech is likely to see a continued shift toward privacy-first advertising practices. This may include the adoption of new technologies such as privacy-preserving analytics and the use of first-party data.

The use of AI and machine learning for ad optimisation will likely continue to evolve. Advertisers increasingly rely on these technologies to analyse vast datasets, personalise ad content and optimise campaign performance in real time.

I also expect interactive and immersive ad formats, including augmented reality (AR) and virtual reality (VR) experiences, to become more prevalent.

As advertisers, we are likely to focus on seamlessly integrating campaigns across multiple channels. Cross-channel marketing integration may involve aligning strategies across social media, search, display and other channels to create cohesive and effective marketing experiences.

Sustainability and ethical practices in advertising are crucial as well. We need to consider the environmental impact of digital advertising and ensure that ads adhere to ethical standards.

Do you anticipate any significant disruptions in marketing and sales technology for 2024? If so, what?

Ongoing changes in data protection and privacy regulations may significantly impact how marketing and sales teams collect, manage and utilise customer data. Compliance with evolving regulations could reshape data-driven marketing practices.

The integration of voice commerce and conversational commerce could disrupt traditional e-commerce and sales processes. As voice-enabled devices become more prevalent, we need to adapt strategies to accommodate voice-based interactions.

While still in its early stages, advancements in quantum computing could have profound implications for data processing and analytics in marketing and sales. The ability to process complex data sets at unprecedented speeds may open new possibilities for insights and strategies.

Social commerce is likely to continue evolving rapidly, with social media platforms becoming more integrated with e-commerce functionalities. This could reshape how brands engage with customers and drive sales through social channels.

We noticed the power of social commerce and how social commerce creates a seamless shopping experience.

For the coming year, Elegoo will still work on transforming social media platforms from mere engagement channels into powerful sales channels. By integrating shopping features, leveraging influencers, and creating interactive and personalised experiences, we will endeavour to maximise our reach, engage customers effectively and drive sales through social channels.

Growing concerns about sustainability and ethical practices may lead to the development and adoption of marketing and sales technologies that prioritise environmental and ethical considerations. This could impact everything from data centres to the development of eco-friendly tech solutions.

Related reading: What will the digital landscape look like in 2028?

How do you think AI might evolve B2B marketing and/or ABM strategies in 2024?

As we look ahead to the coming year, the evolution of AI is expected to have a profound impact on B2B marketing and account-based marketing (ABM) strategies.

It will likely enable even more sophisticated personalization in B2B marketing. By analysing diverse data sources, AI can tailor content and messaging to individual decision-makers within target accounts. This can significantly enhance engagement and relevance.

By analysing historical data and identifying patterns, AI-driven predictive analytics can help prioritise leads that are more likely to convert, allowing sales teams to focus their efforts more effectively.

Through analysing intent data from various online sources to identify signals that indicate a potential interest in a product or service, AI allows B2B marketers to proactively target accounts showing signs of purchase intent.

AI tools may evolve to generate and optimise B2B content automatically. This includes the creation of blog posts, whitepapers and other materials tailored to the specific interests and pain points of target accounts.

For B2B businesses involved in selling products or services, AI can assist in dynamic pricing based on various factors such as market demand, competitor pricing and historical customer behaviour.

AI-driven tools can facilitate better alignment between sales and marketing teams by providing insights into the buyer’s journey, predicting optimal touchpoints, and ensuring a cohesive approach throughout the sales funnel.

How do you perceive programmatic advertising in today’s marketing landscape?

I think it will continue to play a crucial role in the modern marketing landscape.

One of the primary advantages of programmatic advertising is its efficiency. Automation streamlines the ad buying process, reducing manual tasks and allowing advertisers to reach their target audience more effectively.

Programmatic advertising relies heavily on data to target specific audience segments. It enables advertisers to leverage various data points — including demographics, behaviour and contextual information — to deliver more personalised and relevant ads.

It isn’t limited to a single channel. It spans across various digital platforms, including display advertising, video, social media and mobile. This enables Elegoo to create cohesive, cross-channel campaigns.

Programmatic advertising also provides robust analytics and measurement capabilities. We can track key performance indicators in real time, allowing for data-driven optimisations to improve campaign performance.

The data-driven technology helps us to implement retargeting or remarketing campaigns. This involves showing ads to users who have previously visited a website but did not complete a desired action, such as making a purchase. It ensures our ads are being seen by the intended audience, contributing to campaign effectiveness.

While programmatic advertising offers efficiency, it also faces challenges such as ad fraud and concerns about brand safety. Therefore we are working towards creating a more transparent supply chain with implementation measures to address concerns related to ad fraud, viewability and ad placement. We must ensure our ads are displayed in brand-safe environments.

What core values have played a pivotal role in shaping your approach to marketing and communication?

There are some key values that I reckon are quite common and important in the marketing field.

Placing the customer at the centre of marketing efforts is a foundational value. Understanding and addressing customer needs and preferences guide decision-making and communication strategies. Leveraging data to inform decisions is a fundamental value. Analysing data allows marketers to understand audience behaviour, measure campaign effectiveness, and make informed adjustments to strategies.

Embracing innovation is essential in the fast-evolving marketing landscape. A commitment to staying ahead of trends and adopting new technologies can set a marketer apart in a competitive environment.

Given the dynamic nature of the marketing landscape, adaptability and creativity are driving forces in marketing. The ability to think outside the box, create compelling content and develop innovative campaigns can capture audience attention and differentiate a brand. As marketers, we need to be flexible and responsive to changes in consumer behaviour, industry trends and emerging technologies.

Collaboration is key in marketing, as it often involves working with cross-functional teams. Effective communication and collaboration ensure that marketing aligns with broader business goals.

The commitment to continuous learning reflects an understanding of the evolving nature of marketing. Staying informed about industry trends and updating skills ensures relevance in a rapidly changing environment.

How do you ensure you’re up to date with the latest marketing trends and technologies, and how do you integrate them into your strategies?

I regularly dedicate time to stay informed about industry news, emerging technologies and evolving trends. I follow reputable marketing blogs, attend webinars and participate in industry conferences to gain insights from experts. These platforms often feature keynote speakers, panel discussions, and workshops covering the latest trends and innovations in marketing.

For Elegoo specifically, I need to engage with professionals in the 3D industry through networking events, exhibitions, forums and social media platforms. Collaborating with other companies in the industry means we can exchange ideas, share experiences and learn from each other.

I also subscribe to newsletters from marketing platforms and industry publications. These newsletters often provide curated content, updates on industry trends and insights into emerging technologies. I follow 3D and tech influencers, companies and organisations on social media platforms. Twitter and LinkedIn often serve as real-time sources of information on the latest happenings in the marketing world.

I also foster collaboration with teams beyond marketing, such as sales, product development and customer support. Insights from cross-functional collaboration can inform holistic strategies that align with overall business objectives.

Combining these approaches enables me to create a comprehensive and adaptable strategy that incorporates the latest trends and technologies.

What piece of advice would you offer to fellow marketing leaders that has been particularly beneficial to you personally?

In the dynamic landscape of marketing, embracing agility and a mindset of continuous learning is crucial. Stay open to adapting strategies based on evolving consumer behaviour, technological advancements, and industry trends. Foster a culture within your team that values experimentation, learning from both successes and failures and staying ahead of the curve in terms of emerging marketing techniques and technologies. The ability to pivot quickly and integrate new insights into strategies can be a powerful asset.

Are there any startups in the Martech industry that have piqued your interest lately?

There are lots of startups in the Martech industry that have emerged. OpenAI’s ChatGPT has potential applications in marketing automation, enabling conversational interactions with customers. Startups might leverage GPT-based technologies to enhance chatbots and customer engagement strategies. Databox is also a great business analytics and visualisation platform that integrates with various data sources, including marketing tools. It allows users to create dashboards for tracking key performance indicators (KPIs) in real-time.

When exploring startups in the Martech industry, it’s essential to consider the specific needs and objectives to find a solution that aligns with marketing strategy. Additionally, checking for the latest reviews, case studies and industry analyses can provide insights into the effectiveness and suitability of these platforms for business.