Your Marketing Technology Stack is Missing the Mark: How Retailers Can Overcome
The first marketing technology stacks were created to organize, analyze and improve performance. They surfaced in the early 2000's when three adventurous CMO's invested in fundamental tools made for superior management of their campaigns and audiences. These integrated systems induced order, unlocked targeted campaigns, and personalized messages for improved results for a variety for retailers.
In recent years, the retail marketing industry has come a great distance, comparable to the evolution of the first printing press that began with quill and parchment paper writing. The changes have been particularly swift. In 2011, there were roughly 150 firms offering marketing technology. Now, more than 6,800 technology-based tools including digital advertising, data analytics, content marketing, marketing automation, social media, and much more.
At some point, marketers became stack managers: shadow IT masters spending more time on implementing technology than creative development, customer research, and messaging. As for budgets, marketing technology generally surpasses IT budgets now and spending on marketing software is forecasted to exceed $32 billion in this year alone.
Eric V. Holtzclaw is Chief Strategist of PossibleNOW. He’s a researcher, writer, serial entrepreneur and challenger-of-conventional wisdom. Check out his book with Wiley Publishing on consumer behavior – Laddering: Unlocking the Potential of Consumer Behavior. Eric helps strategically guide companies with the implementation of enterprise-wide consent and preference management solutions.