All You Need to Know about Marketing Technology in 2021
2020 was hailed as the start of a new decade — an era driven by technology. However, the global Covid pandemic and the ‘new normal’ brought about a sea of change, specifically consumer behaviour.
Today, marketing technology — or MarTech — has risen in response to the crowded digital media marketplace. Simply put, MarTech refers to the initiatives, efforts, and tools that implement technology to achieve marketing goals and objectives.
As the competition increases, more and more premium brands are looking to derive greater ad spends, views, and revenue with the help of marketing technologies. In fact, according to industry estimates, over 60% of marketing leaders in the world are now using at least one marketing automation platform.
In such a scenario, what can we look forward to in 2021 and beyond? Should your organisation implement MarTech to stay ahead of competition? Which major trends and technological drivers will impact how businesses win customers? Let’s dive deeper.
Design for change and growth
If the Covid-19 pandemic has taught us anything, it’s that we need to adapt and design for change and growth. And Scott Brinker’s ‘Martec’s Law’ talks precisely about that.
Scott Brinker, a leading figure in the Martech space, believes that though technology changes in the blink of an eye, organisations, unfortunately, do not. Marketing technology or MarTech can bridge this gap by allowing organisations to keep up with the ever-changing expectations of customers while equipping marketers to get work done.
If you know where to start and what the right approach is, then there’s no stopping you. In fact, Brinker goes on to say that the Covid pandemic has been one of the biggest drivers of innovation because over 74% of organisations surveyed are now altering their marketing tactics to keep up with the changing tides.
The key here is in understanding that continuous change and growth is something that we should all anticipate and plan for. Embracing this idea allows businesses to make it through to the other side, irrespective of any unprecedented events, as in the case of the pandemic.
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