Marketing has evolved. It is now more sophisticated, targeted and data-driven than ever before. One of the main drivers of this evolution is the exponential rise and domination of marketing technologies.
Today, 51 percent of organizations are now using 21 or more digital marketing solutions — a 42 percent increase from just three years ago, according to a Tealium and Econsultancy report. IDC predicts that $130 billon will be spent globally over the next 3 years on marketing technology.
But where is the marketing technology space going in 2016?
To make sense of it all, Chief Marketing Technologist Editor Scott Brinker recently released his annual Marketing Technology Landscape Supergraphic, to explore and explain how the various facets of the industry are moving forward.
Bigger and bolder than ever
The 2016 supergraphic is bigger and bolder than ever before. This year, the graphic includes 3,874 marketing technology solutions, representing a growth of 87 percent over last year's edition.
You can download the full Marketing Technology Landscape Supergraphic at chiefmartec.com.
As Brinker explained in his article for Chief Marketing Technologist, "We're living in a rapidly changing industry, and I treat this landscape as a living document that continues to evolve to the environment."
This year, Brinker opted to categorize solutions by capability, rather than their technological descriptors. No longer does the graphic include cloud infrastructure or big data. Instead, the focus is on areas such as commerce, sales, content, advertising and the customer experience.
Subcategories include everything from sales automation, enablement and intelligence to social media marketing and monitoring. Some of the largest subcategories include display and programmatic advertising with around 180 different solution providers. This demonstrates just how much programmatic advertising is reshaping the way digital media inventory is bought and sold.
Selecting a stack that delivers
The sheer variety of marketing technology solutions available today is overwhelming. In 2016, marketers will have to be discerning when it comes to selecting their marketing stack and ensure it fits the needs of their teams.
Brinker also touched on the move towards greater integration between solutions noting that, "Almost every vendor in the space has invested engineering resources in making it easy (or at least easier) to integrate with the rest of the marketing technology ecosystem."
Innovation that integrates technologies and data together is essential to break down data silos and empower marketers to leverage the wealth of data at their fingertips. One example of this is what we are doing here at iperceptions by scaling customer feedback to the speed and velocity of big data to recognize the intent of anonymous visitors in real-time. Then by injecting this data directly into Data Management Platforms (DMPs), companies can start to recognize and align campaigns to visitor intent to increase engagement with relevant messages and calls to action.
As 2016 moves forward, the marketing technology landscape will continue to become more diverse making it imperative for companies to select the right mix of marketing technologies to create better experiences for customers.