UPDATE: Check out our post about the 2019 Marketing Technology Landscape.
Brands are looking more and more to the Customer Experience as a way to differentiate themselves from their competitors. To offer a CX that stands out from the crowd, marketers need the technologies at their disposal that allow them not only to better understand the needs and behaviors of their customers, but also to be able to actually deliver these experiences.
A recent survey by Gartner confirmed that 22 percent of marketing budgets is now allocated to marketing technologies. While this represents a slight dip from last year (27 percent), Ewan McIntyre, research director, Gartner for Marketers, points out that:
“Pressure from CFOs and CIOs means that now, more than ever, CMOs need to improve their martech capabilities and prove their technology chops.”
To meet this growing demand, a slew of marketing technologies are frequently being introduced, often at a pace that can make it hard for eager marketers to keep track.
To help marketers navigate the massive and expanding array of marketing technologies available to them, Chief Marketing Technologist Editor Scott Brinker recently released his annual Marketing Technology Landscape supergraphic, known as the ‘Martech 5000’.
The 2018 version of this graphic lays out and organizes 6,829 unique marketing technology solutions (up from 6,242 last year), all playing different roles in helping marketers with their day-to-day duties. Also, and perhaps most importantly, these all help marketers get a clearer picture of their audience.
You can download the full Marketing Technology Landscape Supergraphic at chiefmartec.com.
What stood out to us in this year's landscape
Two notable changes highlighted by Scott in his article that stood out to us is the removal of the “Predictive Analytics” category and the addition of a new category, “Compliance and Privacy”.
Regarding the removal of the “Predictive Analytics” category, Scott justifies that AI is now, “Embedded in so many products across all martech categories”, that it should no longer be a stand-alone category. Instead, AI-powered martech solutions are now classified under the category that best represents their primary function.
This is an interesting point. It's tough to deny that the terms “AI” or “AI-powered” are popping up more and more when evaluating different marketing technology solutions. In fact, we at iperceptions are also leveraging AI to power iper.text, which helps marketers more easily perform Text Analytics and identify key insights in their customer feedback. It will be interesting to see how the landscape continues to evolve thanks to this technology.
As for the addition of the “Compliance & Privacy” category, there is perhaps no acronym that has been on marketer’s lips recently than ‘GDPR’. Not to mention, last year alone saw some high-profile data breaches. As a result, Scott predicts that this particular category will only continue to grow.
As Duff Anderson, Co-founder and SVP of iperceptions pointed out in a blog post earlier this year; companies will continue to invest in technologies to ensure their customers’ data is not compromised, including data that marketers use to measure the customer experience.
What does our martech stack look like?
Every company is inevitably touched by such an expansion in the martech space, and needs to build a marketing stack to meet the needs of their visitors and customers. At iperceptions, we leverage a number of technologies across our different departments every day to do just that.
In the spirit of this year’s supergraphic, we thought we would show you our cards, so to speak, and let you in on the different technologies that our Marketing department here at iperceptions is currently using, organized by their different functions:
Each of these marketing technologies plays an important part in helping us learn more about our visitors and how they interact with us. They also allow us to more easily and efficiently communicate with our customers and readers of our blog, The Customer-Centric Marketer.
Just like the Marketing Technology Landscape over the past several years, our marketing technology stack has also grown and evolved over time, and will likely continue to do so.
The role of Voice of the Customer (VoC) in your martech stack
As Scott Brinker put it in his blog post introducing this supergraphic:
"[As] marketing technology has advanced — and as ever more specialized capabilities have emerged — we’re putting more flesh on our digital customers and striving to serve them in more human ways.”
To design a great Customer Experience, you need to take a customer-centric approach to everything you do. In other words, your customer's needs and expectations should play an important role in any key decisions that will impact their experience.
There are many valuable technologies, like web analytics and session replay, that show you how your digital customers interact with your brand. On the other hand, Voice of the Customer (VoC) focuses on why they do what they do, which can only be confirmed by asking them directly what motivates them.
Using Scott's analogy, you could say that VoC helps you to flesh out your digital customers by helping you to better understand what they are thinking, which is crucial if you want to better meet their needs.
When leveraged in conjunction with your other marketing technologies, VoC allows you to gain the types of insights you need to make more customer-centric decisions that can boost your CX.
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Banner image source: chiefmartec.com (Marketing Technology Landscape Supergraphic (2018)