4 minute read
As marketing leaders, one of our primary jobs is to position our business for the future. To do this, we keep tabs on trends and opportunities, and take action when we see something that could help us create lasting competitive advantages. In the process of doing this, we test new technologies and tools, experiment with new tactics and concepts, and hope that doing so will help us identify the biggest trends before everyone else does.
Actually discovering those trends isn’t easy. And if we spend too much time focusing on the wrong things (or we’re too late to adopt the right ones), it can doom our organizations and our careers.
So, how can you avoid that? Ultimately, it starts with good information.
Which is why I reached out to Ben Chodor, President of Intrado Digital Media, to get a better understanding of what is keeping him up at night and what advice he would give to other executives who are trying to plan and prepare for 2020. Here are his thoughts on what is to come as we approach the coming year.
Remember when “MarTech” was a nascent category — a small cluster of solutions built around automating and simplifying the biggest aspects of marketing? Ten years ago, that included a handful of email marketing solutions, CMS platforms, and marketing automation systems.
Today, that landscape looks a little bit different.
Just in the past couple years, there has been a steep hockey stick curve in the market size. In fact, Martech: 2020 and Beyond, a new report collaboratively produced by BDO, WARC, and the University of Bristol, estimates that the worldwide spend on marketing technology is $121.5 billion.
And while you might expect that kind of proliferation to have made marketers’ jobs remarkably easier, the truth is that MarTech’s rapid growth has, in many ways, made them more complicated and confused.
How many technology platforms do we need? How many integrations are necessary? At what point are there too many solutions?
In my opinion, this data tells me we are on the tipping point. This maturation process will result in the consolidation of many single-point systems into more comprehensive “stack” platforms, where everything you need is conveniently housed in one solution.
There are a lot of reasons this makes sense, but two primary benefits are data consistency and ease-of-use. When you have five different systems trying to do five different things, the data doesn’t always jive. Additionally, with multiple solutions, you can’t ever be sure that all of them will seamlessly integrate with the other systems you rely on. With one platform, those concerns are eradicated.
Marketing Landscape 2020: Planning and Preparing for Integrated Solutions
Instead of having to bounce between a suite of disparate point systems, marketers can rely on just a few key technologies to collect and analyze data in one place, and speak a single language that everyone understands.
Have a new product launch? Business professionals should be able to leverage one solution to manage all mission-critical communications, like social media, public relations, content, media, word-of-mouth, and metrics. This will give marketers full control over customer relationships at scale, which will yield better experiences for end users and better results for businesses.
As we plan for 2020, businesses should start looking for technologies that make it easier to manage multiple activities in one platform — paying particularly close attention to the integrations those technologies offer. Without those integrations (for example, being able to seamlessly link your Salesforce account with your referral marketing platform), you’ll limit your ability to extract the most value from technology and deliver the best possible experience for your customers.
This need for one platform is exactly why Intrado Digital Media introduced an end-to-end workflow solution earlier this year. We understand marketers are looking to maximize the effectiveness and business impact of their customer acquisition and retention programs, and now customers can elevate their webinar engagement, activate word-of-mouth marketing, publish press releases and user-generated content, and measure the effectiveness of their campaigns using our suite of communications solutions. Our solutions are headed towards a near future where one platform provides all the tools necessary to enable marketers to listen, create, connect, deliver, amplify, and measure.
If there’s one thing that’s certain about the future it’s that nothing is certain.
That said, I’m convinced that the future of our space is a single, flexible platform that delivers all the tools companies need to manage and optimize a variety of campaigns. Now I don’t purport to be a fortune teller, but my years of operational and tactical experience is telling me that leveraging an end-to-end workflow solution is ultimately going to point your organization in the right direction for success.
Posted November 12, 2019 in Marketing Strategy