NOV 14 2021 | 19:25 PM | 4 Mins Read
Marketers today have a much better understanding of consumer behavior, preferences, and buying patterns thanks to their access to staggering amounts of data as well as their ability to parse and analyze that data. All this points to the fact that martech is going through a very defining phase right now.
Marketing has always been both an art and a science, and this has never been more true than today. In addition to the “art” – think of a brilliant creative marketing concept, impeccably written copy, and compelling visuals – it’s clear the “science” factor also drives new and better marketing tools.
CMO’s know that ROI is becoming more and more important, but the differentiating spark is often a creative insight. There are dozens of companies that leap with a clever insight that communicates the company’s advantages to potential customers in a more compelling way. What’s the secret? These differentiating sparks are usually driven by the data collected and analyzed by the marketing tech stack.
Increasing access to a staggering amount of data, along with our capacity to parse and analyze it, has enabled marketers to learn more about consumer behavior, preferences, and purchasing patterns than ever before.
This is all a manner of announcing that we are at a very transformative place in martech. As a martech investor, there are opportunities to often see new solutions which can be changing what marketers do and the way properly they perform. whilst some may see the martech panorama as crowded, there is usually enough room for innovation. Startups presenting those abilities are in particular promising from my standpoint:
1. Provide a Holistic View of marketing statistics
Nearly all digital marketers use go-channel advertising and marketing strategies. And, at the same time as we’ve got more get right of entry to statistics for every channel these days, such information is commonly contained in “silos” in special products or structures, making it difficult for entrepreneurs to get a holistic view of their usual advertising overall performance. These days AI-powered insights marketing tools are more often in use. It allows marketers to peer the complete course to buy for his or her goal market in order that they make better decisions and substantially improve ROI.
2. Location-primarily based marketing
The manner for businesses to draw new clients and grow loyalty in present ones, location-primarily based advertising uses a mobile tool’s place to alert the user to advertisements and unique gives from carriers of their proximity thru textual content messages to smartphones (users must opt-in for those indicators). The offers may also frequently be personalized, primarily based on statistics the seller has collected approximately the customer, consisting of beyond purchases, age, or gender. Today app and mobile advertising companies present the bulk of the digital advertising market. According to Nielsen report for Q1, 2019, out of 11 hours and 27 minutes per day connected to media Americans spent 3 hours and 1 minute with mobile apps or web on their smartphones (up from 2 hours and 22 minutes in 2018). Given the current COVID-19 pandemic that forced people to stay home more, these figures for 2020 are certainly higher.
That surge in mobile use lead to mobile app advertising spend drastic increase. The latest figures from IAB US show that in 2019, mobile ad spend grew by 38% (from the previous year) to reach a whopping $100 billion. Mobile advertising can include anything from video ads and mobile website displays to in-app ads. The very nature of mobile (as a personal device) calls for a personalized approach with precisely targeted advertising campaigns for the best return on investment. And, a number of mobile advertising companies have emerged to support this trend.
3. Network trade and Micro Blogs
Product or provider endorsed by way of such an influencer, including a persona on Instagram or YouTube. however it isn’t all about celebrities—it’s additionally approximately locating online networks wherein humans with like-minded pastimes and views can have interaction. whether your passion is knitting or accumulating sports activities vehicles, there are online groups where you can have interaction with and gain knowledge from professionals. such websites centered on beauty merchandise that is constructed around this idea include Ipsy and Glossier.
4. More customized marketing
It was likely about a decade ago that CRM equipment has become a martech darling. corporations were mesmerized through the potential to automate the movement of possibilities via the income funnel and nevertheless are, making CRM the most important software marketplace within the globe with predicted revenues of $80 billion by way of 2025. but, groups also are understanding the want to once more hook up with potentialities on a greater custom-designed, one-on-one foundation. Innovators that guide those more customized interactions at the same time as nonetheless maintaining the advantages of CRM can offer agencies a massive aggressive advantage. One such innovator in this class is phase
There’s no denying that artwork will always be the most necessary part of marketing. But as a martech investor, it’s the “technological know-how” factor that pursuits me maximum as it’s far a controllable factor that could assist us to higher evaluate our overall performance and enhance it in methods that lead to greater significant interactions with customers and prospects.
As we keep to examine from and practice the volumes of statistics we now have to get admission to, advertising and marketing technology will locate new ways to extra precisely manipulate our consequences.