The marketing technology revolution: Will you be left behind?

The marketing technology (martech) revolution is part of the imminent move to digital.

Fintech and medtech were just emerging sectors not so long ago, but they are now so commonplace and thriving that it’s hard to remember a time when they were met with scepticism. The next big digital move is already well underway, with the martech landscape now 50 times the size it was back in 2011. See if you can spot our logo in there…

Right now, thousands of solutions are available worldwide, and it’s clear that martech has undergone a seismic shift in the last year. This article delves into some of the ways that leading companies are revolutionising their business with martech, and why it’s no longer an area that can be ignored.

What does martech look like in 2021?

The best place to start is Chiefmartec.com’s Marketing Technology Landscape. Each year, this comprehensive supergraphic shows us the martech tools across every category — 2020’s edition is up 13.6% on last year, with 8000 solutions now available worldwide.

As you can see from the supergraphic, the martech landscape is vast. So to help you make more sense of it, we’ve honed in on 6 key areas and highlighted what we think matters most for marketers:

#1 Advertising and promotion

There are more advertising channels and platforms than any one person can keep track of, let alone manage effectively and consistently. Finding a solution that helps you focus on an approach that’s best for your brand (and your budget) will help you make the most of your resource and keep your output on track.

This year has solidified the already accelerating move to a digital-first marketing strategy. Going forward, martech tools will be essential in maximising the potential for reaching consumers online, without having to rely on agency help.

#2 Content and experience

There’s no point in having all-singing all-dancing campaigns when your customer content and experience is lacking. In order to maintain quality and consistency, it’s important to be on top of everything from video and interactive content, to PIM and MRM.

This is no small task, especially for large global brands, but it’s one that is proven to build trust and connect with new audiences. All-encompassing platforms like BAM by Papirfly™ are the best way to maximise this potential and take control of your brand assets.

According to the Content Marketing Institute, 56% of businesses are planning to increase their content creation spending. With more output than ever before, automated content will be pivotal in keeping up with demand across multiple channels.

#3 Social and relationships

To create lasting connections with your audiences, you need a tool that helps you manage the way your brand interacts with customers, employees and the general public. The essentials should be a comprehensive CRM tool that helps you manage new and existing relationships, keeping them engaged on a personal level and converting interest into sales.

You’ll also want to keep the conversation flowing with a solution that helps you monitor your presence on social media and react to feedback and comments on review sites.

Brands can no longer hide behind faceless logos. With social media now ingrained in our everyday lives, consumers expect immediate engagement, a high level of personalisation and two-way conversations from the companies they interact with.

#4 Commercial and sales

The demand for better personalisation and automated sales funnels have surged as customers expect more from their buying experiences. Microsoft and Hubspot are among the solutions offering tools that do just that.

But before investing in a big name, it’s important to understand where you need to implement better personalisation and nurture sales more effectively. This might mean choosing a number of different solutions to cover e-commerce, retail and local marketing, for example, or even one that crosses over all three.

More people are switching to online shopping for good. This has always been expected, but the events of last year have made the move sudden. To facilitate this skyrocketing online demand, a martech tool will help you fulfil orders, create seamless customer journeys and follow up on sales.

#5 Data

As digital marketing channels continue to grow, data, and what companies can do with it, plays a vital role in any digital strategy. For many, this has meant more time agonising over spreadsheets. But when you invest in the right tools, that doesn’t have to be the case. 

Instead of manually collecting data, your time is better spent analysing the numbers. By having a clear view and dashboard of everything that’s happening in real-time, you can make informed decisions about your next marketing move.

With data martech solutions, you’ll see the returns on every penny you spend on marketing. They’ll help you decide which channels to invest in, show you how well your campaigns are working and give you the insights you need for more accurate decision making.

#6 Management

Digital project management software has become a necessity for most teams. While there are many tools out there that concentrate on specific areas of project management, there are many more that continually put in the time and dedication to bolt-on new features as the demand for them arise. They can help with:

•  Budgeting
•  Campaign planning
•  Collaborative working

The best investments for you will depend on which of these things are your top priorities as a business.

If you’re investing in some or all of the martech solutions we’ve discussed above, you’ll need a way to manage all of the moving parts in your campaigns. A digital project management solution will help you centralise your marketing materials, team workflows and project deadlines.

Which solutions are in the spotlight?

In a recent survey, NewsCred asked marketing leaders about the types of martech tools they would actively be investing in over the next 12 months. They found that accelerating campaign execution is a top priority for 70% of them.

With the right martech solution, you can support your teams at every stage of the campaign process. With an increase in demand for collaboration tools, many teams will be focused on finding solutions that will help with visibility, content production and campaign management.

Why now’s the time to invest in martech

We caught up with Papirfly MD Dave Thompson, to get his insights on the martech landscape and why it’s such an important area of investment going into 2021:

“Tech has been intertwined with marketing for a long time, but in 2020 we became reliant on technology in all aspects of business. Companies have had to change the way they reach their audiences and help their teams work together. They suddenly needed new ways to organise, collaborate, communicate and create.

Teams all over the world became more accustomed to working online with less resources and having to react more quickly to changing consumer needs. Martech tools have been instrumental in navigating these unexpected challenges.

It looks like things will take a while to return to some form of normality, but the lockdown restrictions we have seen over the last year paved the way for new martech tools to prove that these new digital-centric ways of working can have major long-term benefits.”

What are you missing out on?

Martech platforms have sped up or completely automated labour-intensive tasks to allow more time for planning and strategy. Far from stifling creativity, this has made routine asset creation an easier, more streamlined process and drastically cut down times-to-market. 

In essence, it means that more can be done with fewer people, and with smart templates from systems like BAM by Papirfly™, you ensure both quality and consistency without the need for agency help.

Finding the best martech solution for you will come down to what you need to achieve and how you can leverage the tools provided by different platforms.

New year, new budget

The annual Gartner CMO Spend Survey for 2019-2020, which collected data from more than 340 marketing decision-makers from North America and the UK, found that martech is now the single most significant area of investment for marketing resources and programmes.

Collaboration tools that support the entire marketing workflow — from ideation, right through to collaboration and roll-out — should expect to see the lion’s share of that spend, as companies look for ways they can fill the gaps in their marketing strategy that have appeared as a result of remote work becoming the norm.

Embrace more of martech with BAM by Papirfly™

While many companies have been focussing on digital by using several tools together, BAM by Papirfly™ gives you access to everything you need from one centralised location.

The all-in-one brand activation software is leading the way in saving time, money and effort when it comes to rolling out local and global campaigns.

Book your live demo today to discover the martech tools from BAM that will empower your teams to deliver more in 2021 and beyond.