Earlier this year, Gartner revealed that even with martech spending down by nearly 10 percent, marketing leaders continue to see martech as a tool for driving customer engagement and growth.
However, another recent industry report presented a slightly different view. A report titled Martech: 2020 and Beyond that deep dived into current and future trends on spend, budget, skills needed, investments made, and more, stated that while the martech industry in North America and the UK combined is worth an estimated $65.9 billion, martech budgets having increased by 25 percent in North America since last year.
While the industry might swing when it comes how much of their budgets they are likely to allocate to martech or the expected growth of the martech market, the one thing that remains uncontested is that technology today is imperative to marketing.
The growing relevance of technology in marketing
It’s not hard to see how technology has transformed marketing. Today, marketing is customer-centric as opposed to being company-centric a few years ago, it is less intrusive as opposed to in-your-face promotional messaging, it is medium-agnostic as opposed to being majorly print, television or outdoor-driven. Today, marketing is helping brands deliver experiences that are in tune with the customer’s demand. Marketing is more like a conversation rather than a broadcast.
It’s no longer that random email that pops into your inbox about a product that you are never going to buy. Instead, it’s the reverse, it comes to you in a form that not only entices you but also makes you spread the word.
And, doing this job fabulously is the new breed of marketers, who plan, design and execute compelling campaigns by not just leveraging their creativity, flair or intuition but also marketing technology and tools. Today, marketing is as much about utilising the different data points to understand the audience, drawing insights, looking beyond the obvious behaviour patterns as much as wowing the audience with creative content. Creativity sans data is largely ineffective in the digital-first world.
Shaping the ecosystem
As a CMO, you know this. You understand that marketing is about Big Data, Artificial Intelligence or agile workflows as much as it is about messaging and promotion. And, with the right technology and tools, you are able to draw insights that become pivotal to a business’s innovation roadmap and its product development strategy. That’s why CMOs today are part of annual board meetings and not just summoned during product launches or to attend to a crisis. Not surprisingly, implementing new technologies to create cutting-edge marketing programs is on every CMO’s agenda. Which means, as a CMO, you not only need to constantly keep yourself up to date with the evolving market trends and predictions but also discuss and deliberate on them to shape the ecosystem.
At the AWS CMO Forum in Bengaluru, you will be joined by other CMOs to explore how technology is changing the rules of marketing, as we know it. This includes deliberating on the importance of incorporating data and digital marketing into every aspect of the customer journey. It also includes looking into the evolving role of proven data insights, crafting a marketing strategy that caters to the modern customer to align with the core values of your customers through technology-driven personalisation, and more.
Expand your horizons, network and engage with thought leaders. Register today for the AWS CMO Forum.
Wednesday, 27 November 2019
6:30pm - 8:30pm IST
(Registration starts from 6:00 pm onwards)
Vivanta by Taj, MG Road, Bengaluru