{"id":117370,"date":"2016-11-28T23:07:00","date_gmt":"2016-11-29T04:07:00","guid":{"rendered":"https:\/\/www.dacgroup.com\/marketing-tech-2017-what-you-need-to-know\/"},"modified":"2024-12-31T05:42:15","modified_gmt":"2024-12-31T10:42:15","slug":"marketing-tech-2017-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.dacgroup.com\/en-ca\/insights\/blog\/analytics\/marketing-tech-2017-what-you-need-to-know\/","title":{"rendered":"Marketing Technology 2017: What You Need to Know"},"content":{"rendered":"

In 2017, marketers (yes, even you!) will become acquainted with the term \u201cmartech stack\u201d. \u00a0The term sums up marketing\u2019s trajectory into the near future: the convergence of technology and modern marketing, and the increasingly common practice of stitching together various specialized software platforms in order to optimize marketing efforts. Martech\u2019s popularity is growing at a feverish pace. In 2016 the martech landscape nearly doubled in size \u2013 and there are no signs of this growth dropping off in 2017.
\n\"martech\"3,874 Martech vendors in 2016, up 94% from 2015; Source: chiefmartec.com<\/a><\/em><\/p>\n

Google 360<\/strong><\/span> Analytics joins the fray \u00a0<\/span><\/strong><\/p>\n

Joining the list in the coming months is the highly anticipated complete Google 360 Analytics Suite. It will offer new services including\u00a0attribution, a visualization studio, optimization testing, and audience management. Though designed to integrate seamlessly with Google services and act as a \u201cone-stop-shop\u201d, the Google 360 Suite may face concerns from users about Google encouraging higher spends for its own ad products.<\/p>\n

Google 360 will compete with existing leaders in the martech space like Adobe, with their Marketing Cloud. But while these enterprise level, single-vendor solutions are great for companies with budgets in the high six figures or more, they won\u2019t be the preferred solution for the ballooning medium-sized business market.<\/p>\n

Barrier to entry for DIY marketing stacks lowers<\/strong><\/p>\n

A survey conducted by Campaign Monitor<\/a> this year shows that 82% of marketers in mid-sized business prefer a \u201cbest of breed\u201d technology stack over a single vendor solution. The multi-vendor approach allows smaller businesses to customize solutions and take advantage of many self-service value propositions. The same survey suggests that a multiple vendor stack requires less technical consultancy and offers more flexibility to achieve particular business goals. With reduced technical demands and a more competitive market (resulting in a price drop and more specialized offerings) the barrier to entry for businesses deploying their own martech stacks will be at an all-time low in 2017.
\n\"martech2\"<\/p>\n

Good data remains the foundation <\/strong><\/p>\n

So, should all business jump on board and implement a martech stack next year? No, definitely not. Not everyone is ready for this new technology, and premature implementation can result in poor decision making and the unnecessary redirection of resources away from core business functions. The largest, and most important distinction between those who are ready for a sophisticated martech stack and those who are not comes down to one thing: good data.<\/p>\n

A common mantra in analytics is \u201cgarbage in, garbage out.\u201d No matter what tech stack stands between data collection and data processing<\/a>\n

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