Pick one. Well, maybe five. Alright, pick your top 10.
Not easy, is it? Every year I am amazed when Scott Brinker releases his ever-expanding Marketing Technology Landscape. In less than five years, the landscape has gone from 100 vendors to 3,874 marketing technology solutions. It’s both incredible and overwhelming to see how quickly the landscape is growing—87% over last year alone!
In early 2015, Brinker examined the growth forces behind the exploding Marketing Technology Landscape, which he clusters into six categories:
- Market Segmentation
- Environmental Factors
- Expanding Scope of Marketing
- Financially Attractive Market
- Easier to Sell Software
- Easier to Build Software
As Brinker notes, this explosion in Martech also demonstrates the seismic shift in Marketing from Mass Communications via Mass Media to Personalized Experiences that occur across touchpoints, channels and stages throughout the entire customer lifecycle. Given the exponential increase in these touchpoints, having the right Story, the right Strategy, and right Systems in place is now more important than ever.
- Story: It all starts with why you do what you do – and how that empowers your customer, which shapes and defines everything about you – and your position in the market.
- Strategy: Once you have your story, you need to make sure it connects with your customers – in formats that they consume, through messages they seek, through channels that they use, and at each stage of their buying journey.
- Systems: The best strategies are only as effective as their tactical execution. Defining and aligning and optimizing the people, processes and technologies is critical to operationalizing the strategy and achieving measurable growth objectives.
As a result, while it’s fascinating to watch and analyze the martech landscape dynamics, new entries to the marketplace make it increasingly difficult for CMOs to keep up with the latest and greatest Martech tools. While marketing technology is a key component of a Transformative CMO’s toolbox, the next shiny object may not always the best option for your organization. What is important, however, is ensuring your technology stack is aligned with your brand’s overall story, strategy, and systems.
Signup to receive a sneak peek of “TRANSFORMATIONAL MARKETING: Moving to the TopRight [ebook]” to learn how your organization can utilize Transformational Marketing to #MoveTopRight.