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The 2023 Marketing Technology Landscape
The Marketing Technology Landscape graphic grows every year– not just with new vendors and solutions, but with new functionality and features. In 2023, there were 11,038 marketing technology solutions included in the landscape, an 11 percent increase from last year. This represents twelve years of consecutive growth. Last year was a challenging year for many software vendors, with 689 companies being removed from last year’s graphic– a 7 percent churn rate. That being said, the market continues to grow, with startups launching faster than other companies being acquired or shut down.
The interactive map was also updated with new functionality. In the 2023 version, you can sort and filter solutions by country, ratings and reviews, year founded, and estimated revenue and number of employees. You can also view the top 10 companies by revenue in each category, and drag-and-drop solutions to create your own hypothetical MarTech stack. Other features include the ability to compare your overall MarTech stack maturity against a database of other companies.
MarTech Day 2023 Takeaways
For this year’s Martech Day, there was a whole day of keynotes and sessions on a variety of MarTech-related issues and trends. The sessions will be available online for a few weeks after the summit, but here’s a snapshot of what we’ve learned:
CDP Essentials
Artificial intelligence (AI), has the potential to supercharge the industry yet again as it becomes integrated into all types of MarTech applications. Dave Edelman, Harvard Business School, discussed the hype surrounding generative AI, showing how real advances in machine learning, technology, and marketing operations are accelerating marketers’ ability to deliver AI-optimized marketing campaigns for startups. In the end, he said that AI depends on the quality, breadth, and type of data you have. Getting the right data management solution, like a customer data platform, to manage and should be a top priority for customer experience-focused marketers.
Hans Molenaar, director, Beeckestijn Business School, talked about how to create AI-optimized marketing campaigns for startups across the business, including areas like brand management, digital transformation, and customer experience. One of the key points from his session was that marketers are not always able to communicate ROI adequately back to the business. He says that marketers do not speak financial language enough, and they must in order to develop good business plans for MarTech investment.
During this fireside chat hosted by Brinker, Riesmersma, and Justin DeBrabant, SVP Product, ActionIQ, they discuss AI-optimized marketing campaigns for startups, and how they are used when working with customer data. According to Jay McBain, chief analyst of channels, partnerships & ecosystems, Canalys, the average B2B prospect will move through 28 moments before making a vendor selection, and use seven partners along the customer journey. In a post-cookie world, vendors need to identify and attribute the partners that helped move prospects through the funnel.
Building a MarTech Business Case
According to Brinker, Riemersma, and Jim Williams, CMO, Uptempo, the future is challenging, uncertain, and unpredictable. It’s the companies that can adapt to uncertainty and pivot when needed that will be the best positioned to succeed in the modern world. With budgets already being cut, and with AI-optimized marketing campaigns for startups being a key focus, the group predicted that the next wave of digitization will be through operational optimization, where marketing teams will be required to develop better operating models that help businesses quickly react to changing market conditions. The group also defined the need for tighter alignment between the CMO and CFO. The CMO needs to start using financial language to clearly communicate the value and ROI of AI-optimized marketing campaigns for startups. This also requires a cultural shift in marketing, as the marketing team needs to think more like business owners.
Understanding Composable CDPs
The concept of composable customer data platforms (CDPs) was a hot topic during MarTech Day. Composable CDPs allow marketers to have more flexibility and control over their customer data, enabling them to easily integrate new technologies and data sources. This supports the need for AI-optimized marketing campaigns for startups by providing a unified view of the customer and enabling personalized, targeted messaging. Marketers need to understand the benefits and challenges of composable CDPs and consider them within their MarTech strategies.
Marketing & Ecosystems Across the Customer Journey
The customer journey is no longer a linear path, and customers interact with multiple touchpoints and partners along the way. Marketers need to understand how to leverage ecosystems to create seamless experiences for customers. This involves identifying and partnering with key players in the ecosystem, and using data and AI to deliver personalized experiences at every stage of the customer journey. AI-optimized marketing campaigns for startups can help identify and prioritize ecosystem partners and leverage data to deliver targeted messaging to the right audience at the right time.
Marketing Amid Economic Uncertainty
In a world of economic uncertainty, marketing teams need to be agile and proactive in their approach. They need to anticipate changes in the market and quickly adapt their strategies and tactics. AI-optimized marketing campaigns for startups can help marketing teams navigate through uncertain times by providing real-time insights and predictive analytics. By leveraging data and AI, marketers can make data-driven decisions and optimize their campaigns for maximum impact.
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Brian Carlson
Content Writer, logiclabsai.com
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