Digital advertising is an ever growing market and hence it becomes increasing important as digital trends keep on advancing. From the budget specified for advertising, 85% goes to digital advertising.
Marketing technology is one of the ways to come out of advertising. It has very less competitors in the market thus keeping it ahead of various digital monoliths like Facebook and Google.
A well known email marketing company utilizes software to boost client marketing ROI. It already competes with tech giants such as Adobe and Oracle. Marketing tech becomes of utmost importance to businesses and start-ups as it helps to establish longevity, relevance as well as consumer appeal to brands.
The ones that are just starting out can easily get benefitted from using marketing strategies which can best help to develop their brand. This is a new field however will still impact advertising in a useful way.
With several fields being advanced with the use of technology, it is natural that advertising would be another inline. Well known products like Adestra and Adwords can offer us a glimpse of future market.
Here, one thing is certain that in an ever changing world where latest tech innovations play an important role, brands cannot afford to stay behind in the digital marketing world.
Marketing technology is required as assistance to that change however it’s central in shaping the future of marketing for the digital age.
Two marketing tech challenges:
In order to make marketing tech effective, there are two challenges. One is technical challenge of selecting, amalgamating as well as operating all the systems as well as their data through the traditional IT management point of view.
The bigger challenge is changing the way marketing uses the tools. One part is to understand the application layer of the software. Thus learning to harness it in marketing in order to conceive and launch various programs and campaigns.
Here, marketing technologies are very helpful as an integral part of the team. It needs different cadence of marketing management where adaptive feedback loops are much more important as compared to traditional yearly marketing plan.
Here, vision and strategy are still required however it is to be realized in an emergent fashion at a greater speed.
The speed highlights how labour intensive this marketing work is and hence technology is important here. Marketers are asked to have completely new pace of operations, new processes as well as approaches to decision making.
Digital marketing operations can be available at the core capabilities that companies are in need of today. Basically, there are three fundamental building blocks which are often overlooked.
The enterprise environment can be complex with different business groups, stakeholders as well as existing platforms that can make decision making a challenging task.
Companies must focus on developing governance structures as these can guide evaluation, selection as well as management of marketing technology.
So, now in today’s world, marketing technology is much more important and hence it is slowly adopted as a part of digital advertising.
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