Growth of the Martech Landscape
As a B2B Marketer, you are likely aware of the term Marketing Technology (Martech) and its importance to modern marketing strategies.
This all-encompassing term describes the software and tools used to create, optimise, manage and measure successful campaigns, enabling businesses to find their target audience faster than ever before.
This trend is continuing to expand due to the vast number of tools available for businesses looking at leveraging technology in their marketing strategy, so it is no surprise that usage has increased exponentially over recent years.
With the marketing industry rapidly evolving, it is important to understand the changing landscape of Martech, this is especially true when considering the explosion of solutions that have emerged due to advances in technology.
The Growth of Martech Solutions:
Scott Brinker’s famous Martech Landscape [1] is a great way to get an overview of this continually growing space. As we explore why there has been such growth in recent years, it may help us better understand where we should focus our efforts and how to select and fully utilise tools to our requirements.
One thing that stands out when looking at the graphic is just how quickly the number of solutions has grown, especially over the last few years as companies have become increasingly proficient in technology and digital channels have become essential for success.
There are now 10000+ Martech solutions available, with hundreds being added every year. Of course, many of these new solutions are simply replicating old ones or focusing on a specific niche area, however, that growth indicates just how much potential there is in this space and how rapidly Martech can transform.
Why is the Martech Landscape growing so fast?
Despite turbulent economic conditions, the Martech sector has continued to grow. We have noticed organisations shifting away from “growth at all costs” strategies and focusing on capital efficiency instead.
Businesses are actively looking for ways to drive efficiency while still capturing growth potential as they adjust their strategies accordingly – proving that there is plenty of room for smart growth even in a hostile market climate. It also comes down to advances in technology and a greater access to data.
It also comes down to advances in technology and a greater access to data. The amount of data available about customers has exploded in recent years, which means marketers need more sophisticated tools to make sense of all that information and leverage it effectively.
• Data-Driven Strategies
Data-driven strategies are driving the growth of the Martech landscape forward as marketers need to use data in order to best to reach their target audience and optimise their campaigns for maximum success.
They help power the landscape by allowing businesses to make informed decisions based on accurate insights collected from multiple sources across different platforms. By leveraging these powerful tools, businesses can gain real-time insights into customer engagement levels as well as generate insightful reports about user interactions with products or services.
• Content Creation
Another key factor in this growth is content creation which plays an important role in the marketing process, and contributes to this steady growth.
It is essential for any successful marketing campaign today; it helps improve performance, creates more opportunities for automation, and keeps your audience engaged with optimised materials. With content creation, marketers can leverage their experience and knowledge in order to create content that resonates with their target audience.
• Analytics and Automation
When it comes to marketing technology, two of the most powerful tools are analytics and automation. Analytics allow you to track your performance across different channels, giving you a better understanding of how customers are engaging with your brand online and automation allows you to optimise your campaigns by automating mundane tasks such as email blasts or social media posts.
Companies are now realising that they need to invest in technology to provide customers with a personalised, seamless experience across all touchpoints. To do this, marketers are focusing on leveraging data to deliver personalisation through automation.
These factors combined have helped create a successful environment for Martech growth and have revolutionised the way marketers work, making it easier than ever before to create effective campaigns that reach their target audience.
As marketers continue to increase their reliance on technology solutions, the Martech landscape will only continue to grow and evolve. Now is the time for businesses large or small, to embrace this ever-growing landscape and to understand its place within their organisation.
B2B marketers should stay up to date on what is happening in this space so they can better understand which tools are most suited for their needs and be able to take advantage of any new opportunities that arise from advancements in technology or changes in customer behaviour.
If you need help navigating the Martech landscape, then we can answer any questions that you may have. Fill out our contact form below and one of our team will be in touch.
[2] https://www.campaignlive.co.uk/article/dettols-back-work-ad-goes-viral-wrong-reasons/1693406
[3] https://spinsucks.com/wp-content/uploads/2018/01/2020-PESO-Model-Graphic.png
