The industry shows no signs of stopping! As per the studies and researches done by experts, it was revealed that the worldwide expenditure on marketing tools and technology would reach $32 billion by 2018.
Guide to MarTech Today (Infographic)
This growth in number was expected from a $22.6 billion in 2015 which meant a 50% growth within a span of just 3 years! There's no doubt when we say that MarTech is going bring about a major overhaul to the future of marketing.
Are you someone who is still not aware of this rapidly growing field of marketing technology? If answered no, fear not as we're here to help you navigate through the MarTech landscape.
1] MarTech - What is it?
The fusion and combination of marketing and technology is MarTech. MarTech uses all the available tools that are required for achieving all the objectives and goals of advanced marketing. Are you involved in any kind of online or digital marketing? If answered yes, you will definitely be familiar with MarTech.
2] The explosive growth of the MarTech industry
As per the overview of Scott Brinker's 2015 marketing technology, it included 1876 organizations from 43 categories. After studying their performances, it was seen that the landscape witnessed year-over-year growth of 170%. It was also seen that a staggering amount of $22 billion was invested till then in the MarTech industry.
More than 65% of the marketing executives had a plan of spending more money on marketing technology. 28% of the MarTech firms planned to boost spending by more than 25%.
The insights that have been derived from MarTech data are also assisting the marketers in boosting their results and strategies. Around 76% of the digital marketers are of the opinion that analyzing performance data has made a huge impact on the decision-making abilities of the marketers.
Despite this, there are several digital marketers that are struggling to juggle between so many tools of MarTech world. 52% of the online marketing executives say that the marketing technologies aren't tightly integrated.
3] The evolving marketing role
The marketing technology role keeps evolving constantly, thereby attracting various new talents from different industries beyond conventional marketing. It has been noted that just 7% of those within the role of marketing technology have 'marketing technologist' mentioned in their title.
, marketing and technology titles are those that keep dominating. 43% of the marketing technologists come from a background of programming/technical. 33% come from marketing communication background.
4] 5 Skills required for future success in MarTech industry
As the role and scope of this industry grows, the community shortlists 5 skills that can define success in the near future.
- Marketing strategy and positioning (62%).
- Identification of target market (44%).
- Web designing, both adaptive and responsive (43%).
- CRM platform and systems (43%).
- Ability to negotiate and coax (42%).
Therefore, if you're into the world of MarTech or marketing technology, you have to take into account all the above mentioned data. Try improvising your marketing strategies by using all the relevant tools and technologies so that you can strengthen your foot in the industry.
Infographic brought to you by project management tool web based.
