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In a conversation about marketing technology, you may have heard the term, ‘martech’. But what exactly is ‘martech’? Industry experts have claimed that “Marketing tech is going to be the hottest trend this year.”
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According to John Koetsier, a mobile economist at Tune, “Every piece of technology a marketer uses to reach a potential customer is martech.”
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Martech exists to give advertisers a one-to-one relationship with their customers. Brands like Uber, Dollar Shave Club and Airbnb already have that setup. Legacy brands, however, still have multiple layers separating them from their customers.
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To help them shed those layers, many turn to digital marketing hubs, or marketing clouds.
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A marketing cloud gives marketers standardized access to audience data, content, event triggers and analysis so they can automate complex campaigns, sales and data collection both online and off.
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Marketing technology companies operate on a software-as-a-service model or SaaS. That means brands pay vendors a yearly fee to use software so they can gather data on their consumers. Example: Adobe, Oracle
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But still, the challenge is to make sense of all their data. In most cases, brands hire consultancies for the same. So isn’t this just ad tech? No. Ad tech is about placing, buying and selling ads while martech is about building, managing, delivering and optimizing campaigns.
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One of the biggest trends coming out of martech is AI. The rise of AI is squarely aimed at helping marketers make sense of all their data.
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Being able to integrate all of the extracted data from different sources into a comprehensive picture is really challenging.
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Although marketers will likely see a number of exciting announcements of what AI can deliver, its uses in 2017 will probably focus on perfecting what times emails should be sent or determining the optimal subject lines.
Source: http://bit.ly/2pix7Eg
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