What Is New In Marketing Technology
Greg Silverman
Advisor to public and private organizations on how to improve their brand's value
Usually when one travels to London, you can expect gray, cold weather, marginal food, reserved people, and things that work quietly. At the Martech Europe conference this week, we had the opposite. Bright sunny days, very good food, upbeat people, and a presentation clicker that did not work. What was the attraction - catching up on the trends in Marketing Technology. In case you don't have time to review the presentations here, below is a summary of the major themes.
Marketing Technology is not the problem. Marketing used to be about messages and media. Now it’s an exponential combination of marketing, media, and mechanisms. This complexity has created the need to adapt; the tools are not creating the complexity. Check out Shawn Kanungo’s presentation on Beyond Creative Destruction.
Marketing Technology is not the solution. In historical surveys, the top issue was for years better integration second was better analytics. In a recent Walker Sands survey, the top issue for 2017 is making better strategy. Now that the tools and systems are improving, it is clear that agile, adaptable, and quick learning strategies are top of mind. Ulrike Eder, Chief Commercial officer of drie Secure Systems Limited did a great job presenting this topic.
Marketing Technology does not devalue people. Although technology has moved to the forefront, most marketers do not have great technology training. We are taught the Four P’s not artificial intelligence. To make any program work stills requires people to monitor and manage these new systems. If you really make an investment as a marketer, people will learn making your investments all the more impactful. Give a close read to People the Important Piece of Martech Integration by Brian Harte from Tourism Ireland and Sophie Wooler from iProspect.
Marketing Technology was not over hyped. The addendum to this clause “should read for the first time at a conference.” After years of the promise of a “golden era” fueled by technology, people are aware now that it’s not enough to buy stuff. You have to be prepared to change structure, process, and culture. Don't’ miss 10 myths Martech Vendors Perpetuate by Theresa Regli from Real Story Group.
Marketing Technology takes a multi-dimensional commitment. Not only does management need to be prepared for a multi-year transformation, it needs to be prepared for other changes as well. Cross-functional teams will need to work together. Agencies and consultants will be de-emphasized. Decision-making processed will need reengineering. Organizational change will be comprehensive. Industry Perspectives from Marketing Tech Disruptors is an excellent discussion. It features David Hurley from Mautic, Patrick Tripp from Redpoint Global, and Will Senior with Google.
There was a call from the keynote speaker and convention, Scott Brinker, for a single application to bring all these pieces together for strategic support. In his review of the industry that includes ~4000 companies, he identified the need for a company that uses complexity science and other advanced methodologies to predict emergent outcomes that influence strategy. I will be sure to cc: him one this update - so he can gives us a look at www.concentricmarket.com
Founder of Avasta, the Profitable Growth Company | standard-setter | business executive educator
8 年Greg, this is a fantastic summary. I especially like the fact that you call out the need for better strategy. Marketing technology is only as useful and usable as one's willingness to apply it to test and develop new strategies. My takeaway is that marketing technology cannot solve the need for marketing and strategy to be integrated with the rest of the business. As my colleague Tracy C. says regularly, "you cannot give marketing 100% of the responsibility for the brand with only 20% of the authority to do something about it."