Marketing and Technology; is a reasonably recent marriage that's still a big query for many working in either industry. Understanding where marketing and technology intersect is fundamental to success in the transformative process towards a future-ready digital enterprise.
MarTech in 2023 is a review to the fundamentals of the discipline in the enterprise and an exciting outlook to the opportunities and challenges ahead.
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The Emergence of the Chief Marketing Technology Officer (CMTO)
The Chief Marketing Technology Officer (CMTO) is a strategic role designed to bridge the gap between marketing and technology in today's dynamic business landscape. With skills in customer understanding, marketing strategies, technological capabilities, and operational efficiency, the CMTO aligns marketing and technology goals, fosters collaboration, and drives business growth. The CMTO is not just an option but an imperative for businesses seeking to thrive in the digital era, signifying a move towards a more integrated and successful enterprise.
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Composable MarTech in the enterprise
Composable architecture is the future of marketing technology and operations. It allows businesses to choose and scale best-of-breed solutions that meet their specific needs. Once upon a time, marketing technology meant consolidating everything - from email campaigns to analytics - into one "monolithic" platform or suite. But as technology and business needs advanced, the limitations of these systems were laid bare. Enter the orchestration and composable architecture era: the ability to harmonize various marketing tools, creating a unified and efficient operation.
Six Questions and Answers about real-time data architecture in Customer Engagement and MarTech
Get insights into what the Data Architecture conference in Melbourne had in store and what the Panel Discussion: Getting Greater Enterprise-Wide Adoption of Real-Time Data Processing for Variety of Use Cases i.e., AI/ML Predictive Analytics, Notification Systems conversation and insights revealed for the engaged crowd at the Grand Hyatt and moderated by Satya Upadhyaya, June 2023, in Melbourne.
Marketing Technology architects are tasked with developing and implementing novel strategies that empower organizations to stay ahead of the ever-evolving marketing technology landscape.
As our industry transforms at an unprecedented pace, it's essential to recognize that relying on outdated tools and frameworks from the past won't suffice for what's ahead. We must embrace the current reality of the industry and adapt accordingly, regardless of our MarTech maturity level.
The Engagement Fabric is a sophisticated approach to onboard advanced concepts and uplift capabilities in existing marketing technology ecosystems to implement modern and engagement-led strategies.
A maturity model helps understand from multiple angles the different levels of operational capabilities that support the MarTech function. We have developed a five-stage MarTech Maturity Model to help experts and businesses, in general, to map areas of their practice and understand and identify improvement paths.
This model will guide businesses to implement highly sophisticated capabilities to support what's required to perform a modern marketing technology strategy.
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Marketing technology (MarTech) architecture refers to the design, structure, and integration of technology systems and tools that enable businesses to manage and execute their marketing strategies efficiently. A well-designed MarTech architecture provides a framework for how different marketing technologies interact with each other to support a company's marketing goals.
Read moreA Customer Data Platform (CDP) is a software platform that allows businesses to collect, integrate, and manage customer data from various sources in real-time to create a unified customer profile. This profile includes a comprehensive view of each customer's interactions with the business across all channels and touchpoints, including email, social media, website, mobile app, and in-store.
Read moreThe concept of customer engagement is not a solitary one; it's a symphony that resonates throughout the orchestra of a company's business model. It's a multifaceted, intricate weave of interactions, emotions, and transactions that create a collaborative relationship between a company and its customers.
Read moreCustomer engagement is the ongoing interactions between company and customer, offered by the company, chosen by the customer
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Many reports state the perceived underutilization of MarTech capabilities being as low as a 42% in 2022 with a drop from a 58% in 2020.
Though is common to find organizations where the utilization of their tech stack is relatively low, it's also important to understand that MarTech as a complex and always evolving system needs to be managed to mitigate issues like underutilization.
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In a trend that has been confirmed year after year, the Marketing Automation global market is set to grow for years to come until it passes US$10 Billion by 2030.
With the increasing fragmentation and proliferation of channels and touchpoints, automation is one of the most useful tools in MarTech. It's expected that automation combined with new technologies will support marketing initiatives for the next generation of strategies.
MarTech Professionals that are growing their careers and are and skills need guides to help them in their execution of projects as well as support in their path to become Experts. We offer access to resources that will help them reach the next level.
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MarTech Experts need tools and resources that help them execute their jobs more effectively and stay on top of the industry trends and best practices. We offer access to resources that will help them advance their careers while delivering world-class solutions.
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C-Level and Executives need access to industry knowledge that helps them establish their strategies and assess opportunities, challenges and risks. We give them full access to resources that gives them an edge when it comes to their Enterprise MarTech overarching strategy.
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