Explore The Emerging Martech Trend In 2021
Modern marketer may also prove: Marketing technology (Martech) has expanded rapidly over the past 10 years — and it keeps on going up. In reality, ChiefMarTec.com reveals in its latest 2020 research that our marketing technology ecosystem is made of a staggering 8,000 tools. And surprisingly, new study by NewsCred reported that most marketers often use more than five of these tools daily to complete their work.
What are those tools? Which are beneficial and where do marketers think they have barriers? What kind of transition can we consider in terms of overall investment in point solutions in the current economic environment and the unstable future?
We conducted research based on nearly 100 survey results from marketing directors and above in enterprise-level companies, generally $1 billion or more in company revenue to get their viewpoint on key Martech trends that we should expect going into 2021. The following top Martech trends future:
1. Demonstrating & Measuring Business Impact
Most CMOs and marketing leaders revealed that measuring and proving the campaign impact is essential. Using campaign attribution to evaluate effects of the intended outcome. It is also a key element to show to your CFO that you need more budget or resources. In fact, more than 60% of marketers are under pressure from their CEO or board to demonstrate marketing ROI so many marketing leaders say that demonstrating business impact is an important part but 36% among them do this well.
It may be hard to implement if we don’t have the right solutions and technologies. Content creation is a critical feature of a marketing platform that is the inherent ability to accurately evaluate the content process through the entire marketing team. If you are struggling to evaluate attribution to campaigns, this is the method to help you assess the effectiveness of your campaigns.
2. Martech Budget
According to the study, 100% of integrated marketers state that one of the top marketing campaigns for 2020 is to boost their budget. It may be difficult to optimize the budget for such line items relevant to the marketing. Research has also shown that content ideation is a major budgetary priority, and sometimes a challenge. And MarTech spending reached $100 billion in dollars spent in 2019, meaning that many business marketing teams are using new, diverse tools that all contribute to spending on the budget.
60% of marketing leaders said they predicted a rise in Martech investment over the next 12 months.
With remote work being a vital part of the current workforce, many marketing teams depend on budget software and technology to cooperate on campaigns and keep track of their work.
While Gartner estimated last year Martech spending would account for 26 percent of the total 2020 budget, our survey estimated a greater rise in Martech spending for 2020 and 2021 because of Covid-19 epidemic. As demands for communication resources increase, many teams will concentrate on technologies that help with visibility, content creation, and campaign management.
2. Investment In Content Production
Investment in Content Marketing Platforms will grow up significantly at about 20% for marketer’s businesses.
The Content Marketing Platform (CMP) is a software tool that helps marketing teams to coordinate and optimize marketing processes from planning and development through to collaboration and approval.
Due to COVID-19 altering the way we contact our community, most CMOs and marketing leaders concentrate on discovering tools that help you build more content quickly – including blog posts, articles, webinars, and ebooks – to make up for live events. Not unexpectedly, the survey revealed that 20% of marketing leaders for their marketing company would invest substantially in a content marketing platform.
4. Speeding Up Execution Of Campaigns
Increasing productivity is a key issue to most marketing executives. In addition, many companies have a much more competitive tendency in developing campaigns, so it is important that a marketing team is able to be flexible. Our survey found that 70 percent of marketing leaders said accelerating the execution of campaigns is a primary concern for their team.
The best approach to running a successful marketing team is to be able to efficiently and timely plan and execute campaigns and their supporting content. Rather than wasting time on work; for example, content via email — marketing leaders must focus on discovering technology to simplify the time-consuming processes that generally support work from getting done easier.
Using technology to optimize operations and develop marketing workflows to get the tasks completed in connection to the campaign. Even if it’s producing content or visual assets from start to the end, a marketing management technology at the enterprise level would allow the team to follow and speed up the production of all components of a campaign. These tools can support your team cooperate and work successfully in current pandemic situations.
5. Enhance Collaboration
Modern marketing companies are based on marketing planning software to streamline strategy processes and enhance the visibility plan. Over 68% of marketing leaders stated that improving the marketing planning process and visibility of strategic plans as a priority in 2020. However, many marketing leaders have anticipated that it will transition into another Martech trend in the future in 2021 – Collaboration.
This is also an important element that Collaboration will be the peak of your successful achievement. Selecting the right tools will create a solid base for your team as working from home or remote work become common in most industries, especially in the Covid-19 situation.
While most tools for collaboration can support project management, they are not intended tools for complicated marketing teams. Collaborative tools will have to meet every stage of the marketing workflow, from idea creativity and planning to implementation and evaluation, which is why selecting a platform that can manage every phase of the campaign execution process that will be critical.
Source: Shohei Fukano