Back in 2011, 'when records began' the number of marketing technologies sat at a measley 150. 

Within five years, by 2016, this had dramatically increased to 3,500 and has carried on increasing at a lightspeed rate ever since, with the latest number expected to hit 7,000 by the end of 2018. 

Social media, big data, programmatic, the cloud, AI, automation and machine learning have all contributed to this huge growth. 

What does marketing technology do for you?

Marketing technology, or 'MarTech' as it is often reffered as are digital tools that make it possible for marketers to automate tasks and make data-driven decisions. Utilising MarTech effectively can help marketers save time, increase effectiveness, understand audiences and speed up the sales process. 

As an agency account manager, I am always in touch with MarTech providers to understand their benefits and how they could potentially be utilised to help with my clients strategy and campaigns. 

A couple of examples of MarTech include: 

Buyer intent insight providers: One highly valuable digital tool is one that can provide insight into the individuals and organisations that are most interested in your service/product by monitoring and scoring intent signals, by collating engagement touch points such as attending an event, downloading a whitepaper or visiting your website. 

By scoring the levels of engagement from individuals and accounts, you can focus your marketing and sales activity on those that are most likely to buy. 

(Self-plug here, but we actually have our own piece of MarTech which can help you do this called Argus. You can find out more here). 

Social listening & influencer marketing: Social listening tools can help you find and engage with the key influencers in your market across social channels. Becoming more engaged with these key influences allows you use their extensive audience reach to boost your brands visibility and trustworthiness. 

Other examples include marketing automation, email providers, scheduling, analytics, retargeting, programmatic and so on.

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From our perspective, as an agency, it is important that we have a key understanding on the MarTech out there. We know the costs can sometimes be overwhelming - and sometimes there may be a case against MarTech if there aren't enough resources to justify it - but by giving clarity to our clients, we try and help them weigh-up the opportunities, challenges and return on investment to make a calculated and correct decision. 

As Abe Smith writes for marketingtechnews.com: 

"Failure to invest in the best marketing technology available is costing your business money, rather than saving it money. If you’re not researching and investing in martech, your competitors will be. And they will be reaping the benefits from it."