The growing variety of online channels is escalating the adoption of marketing automation (MarTech). In just three years, the market has grown from US$225 million to an estimated $1.6 billion – and there’s no looking back.
Approximately 82% of B2B and 50% of B2C companies are using automation in some form – most prominently applied to e-mail marketing or remarketing. And of the businesses that do leverage MarTech, most are happy with the outcome and plan to invest additional time and capital to achieve greater accuracy and speed.
Unfortunately, most companies are not using every feature automation offers. Are you missing out?
What is MarTech, and what is its potential?
MarTech covers technologies and tools that help marketing departments automate tasks across online channels – including e-mail, websites, and social media. Typically, this includes content and offer promotion based on personalized rules, individualized landing pages based on visitor profiles, and predictive analytics that identify customers based on past behavior.
Across the board, from startups to the Fortune 500, MarTech is hailed as the future of marketing and a phenomenal way to form a closer relationship between the CIO and CMO. Even Google and Facebook are jumping on the bandwagon as they release features that allow users to automate basic functionalities that help drive scale and efficiency.
Through MarTech, marketers can address three key trends that are disrupting the marketplace:
- Marketers are responsible for buyer education more than ever before. If your brand provides a solution to a problem, you may need to tell your customers that there’s a problem in the first place. This demands content that proves that the service or product is necessary. However, there’s a caveat: Attention spans are diminishing, and customers are constantly bombarded by messaging. To cut through the noise, MarTech can help ensure your content is original, interesting, and non-intrusive while telling a compelling story.
- Data is the key to the customer experience. According to a CMO Council survey, 85% of CMOs believe that the lack of data is hindering the creation of multichannel marketing campaigns that drive uniform messages and make the marketing funnel smooth and efficient. With billions of terabytes of data generated every day, MarTech offers an opportunity to leverage this information to create targeted campaigns.
- Identity is the new currency. As customers pick up multiple devices, locating and creating a unique identifier is still challenging. MarTech stitches together one customer persona across a variety of online and offline channels, including anonymous marketing channels such as display ads and search and known ones including e-mail and mobile.
As marketers grapple with these changing dynamics, there’s no replacement for creativity. The best campaigns still need that extra pizzazz to catch the customer’s attention in an increasingly crowded marketplace. With access to data and marketing automation tools, marketers have a better chance of realizing the full potential of the product/service portfolio.
For more insight on marketing trends, see 100 Top Digital Marketing Influencers And Brands.