This week we have a great DatoRoundup of AdTech, MarTech and Data-related content for you. We share a piece from guest poster Josh Dreller writing for Chiefmartec on point solutions versus hubs; Niraj Dawar for Harvard Business Review with a great piece on using big data to create value for customers, not just target them; Jordan Con for Business 2 Community on how to get MarTech budget approval; Ben Sidebottom for Fourth Source on how to unify disparate AdTech and MarTech solutions; and finally, Todd Miller writing for The Drum on the coming of platform-specific, agnostic data. Enjoy!
Consolidating Point Solutions with a Hub in Your Marketing Stack?
By Josh Dreller
In this guest-penned piece, the writer opines that most marketing technology platforms fall into one of two categories: 1) Point solutions that specialize in solving a deep, defined subset of challenges; and, 2) Hubs that offer multiple tools in a single interface and focus on solving the “tool overload” challenge facing many marketing organizations. Dreller says, “Knowing which one is right for you often depends on your unique situation but, from first-hand knowledge running technology for a digital media agency, evaluating and implementing dozens of platforms for various clients. Hubs almost never live up to the hype.” Read the piece to find out why.
Use Big Data to Create Value for Customers, Not Just Target Them
Harvard Business Review
By Niraj Dawar
Niraj Dawar writes that big data holds big promises for marketing. “Notably, it pledges to answer two of the most vexing questions that have stymied marketers since they started selling: 1) Who buys what when and at what price? And, 2) can we link what consumers hear, read and view to what they buy and consume?” No doubt, if you can answer these two questions then you can make your marketing more efficient by improving your targeting and ROI spend. However, Dawar claims that most marketers are too focused on predicting each buyer’s next transaction in an effort to gain an ever more detailed customer profile. The result is a detailed, high-resolution close-up of each customer that reveals their next move. According to Dawar this presents a real danger when it comes to your competitors as there is no sustainable competitive advantage in chasing the next buy.
How to Get Budget Approval for MarTech (Or, How to Not Lose Your Marketing Budget)
By Jordan Con
With the MarTech explosion, there’s a slew of all-new challenges. Examples include: Raised expectations of the marketing department, increased competition, and ever-higher expectations from public and private funding. With this onslaught of pressure from all angles, getting the budget you need is a challenge we are all too familiar with. In this piece, Jordan Con looks at how to get budget approval for the MarTech that you need.
Mystifying Mechanics: Why We Must Unify Disparate AdTech and MarTech Solutions
By Ben Sidebottom
“Imagine a super machine that is constantly amassing new parts to increase its power, but each one is made by a different manufacturer and comes with its own instructions. Before long, managing the mechanisms becomes so mystifying the whole thing slows to a crawl, yet without the ability to identify what is working and what isn’t, the source of the fault is hard to find,” writes Ben Sidebottom. He claims that each addition to the AdTech and MarTech space may enable brands to achieve greater relevance, scale and engagement, but may also spread performance data, customer insights and budgets across a myriad of disjointed systems. This means it makes it difficult to measure overall success and the value of each component. In fact, according to a report by the Winterberry Group, the average brand marketer utilizes more than 12 unique tools in their marketing stack on a regular basis. Some businesses even use over 31 per campaign. We’re not too surprised as our research backs this up. In fact, we suggest you read our TMI – Total Marketing Impact eBook that discusses this exact problem and how Datorama can help solve it.
MarTech Convergence: The Coming of Platform-Agnostic Data
By Todd Miller
Data is the foundation, no matter what the platform. So says Todd Miller, but data is not without its challenges. To be more specific, Miller is talking about how there is now an end to the distinction between mobile and desktop, and the primacy of whatever meets the user’s need. “No matter what device, as long as it has an address, whichever the platform — mobile, desktop, game console, smart TV — it can be a source of actionable data to build successful digital campaigns.” Understandably, Miller says that mobile devices provide better quality data than any other source. Curious as to why? Read Miller’s piece here!
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