While large companies have already started moving towards marketing technology management, small and medium businesses are mostly too under-resourced in marketing and IT to allocate permanent resources for this task. In this case, it will save considerable time and costs to outsource CMT’s tasks to a trusted partner. While it takes considerable investments, otherwise a company can lose any competitive advantage it currently holds. Digital marketing is non-negotiable in the 21st century, as is the ability to interpret the data it brings into the organization. There is a difficult yet rewarding road ahead for today’s marketers.

Source: customerthink.com

Smart overview as to what is going on. I scooped the last but most important paragraph.

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#MarTech #DigitalMarketing

Digital marketing budgets are growing at a breakneck pace, but according to a new report, investments in the essential digital marketing skills needed to handle these larger budgets is lagging far behind. This is particularly true in high-engagement channels and capabilities, such as mobile, video and testing. Translation: although spending on digital technology may be up, the performance of marketers continues to remain stagnant.

BCG, in their recently published report, “A Disconnect and a Divide in Digital-Marketing Talent,” cites that worldwide spending on digital advertising topped $180 billion dollars in 2016, and double-digit growth is expected for 2020.

More troubling, is that these marketers’ scores didn’t budge within an 18-month period. This signals a growing divide between mega digital advertising budgets and the strength of the capabilities that actually generate strong return on investment (ROI).

Source: www.mediabistro.com

I’m on the front lines, and I see this every day.

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New research from the ANA reveals how marketers are dealing with industry disruptions using technology.

Source: www.ana.net

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Seven percent use more than 20 marketing technologies

Source: www.emarketer.com

Betcha is much higher…the stuff just creeps in under the door without you noticing.

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A major trait of a successful marketer is understanding when not to switch. They understand the importance of patience, and they do so in a number of ways.

• First, they make sure they are basing their decisions on facts driven by data that have had time to aggregate and reveal truths. 
• Successful marketers also understand that they have to look at more granular data. 
• When looking at data within channels, you should take into consideration whether the execution was effective. 

Apply these criteria and which direction to shift will present itself with clarity. 

Source: www.forbes.com

The article focuses on digital advertising spending, but is applicable to all areas of MarTech spending. And if looking at MarTech spending as a whole, know that people resources are the #1 issue.

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Unfortunately for digital marketers, collateral damage often doesn’t reveal itself until it’s too late – you’ve signed on the dotted line and you have a year-plus contract to fulfil. There are three commonly over-looked, but also hard to vet, complications when you add marketing tech to your website:

• Site performance
• Product customisation
• Real-time functionality

The good news is, you can you avoid these complications while still in the buying process. Here’

Source: www.fourthsource.com

CT for the details…

Visualize your Marketing Stack. marketingIO will analyze your marketing technology and deliver a visual of your MarTech Stack. Free. Go here.

marketingIO: MarTech for B2B Marketers. Strategy, Software, Services, Support, Staffing.  Go here to submit RFQs. #MarTech #DigitalMarketing

Managing technological change for your marketing department may be easier than you think. Follow these tips to ensure a smooth and effective transition.

• Coordinate internal communications
• Audit your data
• Set clear, achievable goals
• Manage expectations around the technological transition
• Prepare for pushback
• Keep your marketing team engaged in the change management process
• Identify revenue metrics for the C-suite
• Delegate change management effectively
• Know what works best for your company’s culture

Source: trackmaven.com

Especially the second bullet!

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1. Real-time decision making finally gets real
Many organisations looked into or acquired technology to facilitate real-time when it first emerged as a leading trend, but it is only now that many are actually practically applying it. 

2. Taking steps towards cognitive computing
The next few years will see organisations start to get to grips with what cognitive computing can offer. While there is much fascination with the potential for cognitive, there is still an element of nervousness from many organisations, especially when it comes to A.I. This is not unfounded, as A.I. has not yet reached the point where it can run without careful human monitoring. 

3. The growing need for data management and governance

4. Getting your digital estate in order
Organisations are still failing to fully understand their digital estates and the systems they already have. Many are fairly digitally mature, with estates that have grown at a rapid pace. Due to the particularly high turn-over in senior marketing roles, coupled with increasing marketing technology spend, businesses are likely to have multiple systems in place, which are not being utilised or integrated properly.

Source: www.thecsuite.co.uk

marketingIO: MarTech for B2B Marketers. Strategy, Software, Services, Support, Staffing.  Go here to submit RFQs. #MarTech #DigitalMarketing

Marketers continue to face challenges when it comes to using marketing technology, but at least they are aware that the challenges are there. Recent survey data found that nearly half said they needed to do a better job integrating marketing technology to improve their omnichannel marketing efforts.

Nearly half of the respondents said improved integration of their current marketing technology tools would help boost their organization’s omnichannel marketing efforts. Other key infrastructure areas mentioned included enhanced identification capabilities for matching consumers across channels (40.3%) and internal data collection and storage (37.3%).

Source: www.emarketer.com

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• An enormous challenge for CMOs heading into 2017 is fully understanding the MarTech Landscape: Technology is transforming marketing faster than ever before. 

• Coping with the complexity of vendor management will be a Key Challenge for CMOs

• The pace of Innovation is Outpacing the Ability for CMOs to Grasp It. 

• More CMOs will Go Back to School (metaphorically speaking) to become more Data-Driven CMOs

• A Mega Technology Trend is that the Customer Experience (CX) will be Tracked, Better Understood through Integrated Mapping, and be the responsibility of the CMO

Source: www.forbes.com

I’ll second the motion…

Curated for you by marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  #MarTech #DigitalMarketing

Source: chiefmartec.com

Curated for you by marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  #MarTech #DigitalMarketing

When asked why they are spending more of their business budget on technology, North American enterprise BDMs cited three critical reasons. First and foremost, technology is too important for the business not to be involved:

Second, the rising expectations of customers require the business to push IT to keep technology current. And finally, business executives’ understanding of technology is increasing; so, they can interact more effectively with IT.

Source: blogs.forrester.com

MIA: the business case cannot be articulated by IT as effectively as the business side.

Email your comments to joe@marketingIO.com. I’ll publish it here. marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

Software and professional services firm Clutch, in partnership with marketing agency R2integrated found in April that the vast majority of US marketers said they use web and marketing analytics products. This was the No. 1 type of marketing technology in use according to the survey.

Source: www.emarketer.com

C’mon, don’t tease me…

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“IaaS needs its own tools
Consuming cloud-based virtual machines, storage, databases and other services is such a complex issue that users can benefit greatly from using a dedicated management platform for IaaS, especially if they’re managing a hybrid cloud computing environment.

Two basic options
All the public IaaS cloud vendors – Amazon Web Services, Microsoft Azure, Google Cloud Platform, IBM SoftLayer, etc. – have their own native tools for managing their products.  The other option is for users to buy a CMP, also referred to as a Cloud Brokerage Service (CSB). Companies such as RightScale allow users to manage their AWS and Azure resources from a single management console. 

What to look for in cloud management software
-Cloud management and brokerage of services
-Expense Management
-Operational Monitoring
-Governance

Cloud management market is immature”

Source: www.networkworld.com

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Source: www.marketingcharts.com

You’re not alone.

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