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More enterprises are switching to digital, with many for the very first time, but all of them have had to rethink their current playbooks or analytical systems that have served them well over the years.
FREMONT, CA: The pandemic has had a mixed effect on advertisers. Firms have switched from wondering whether the Chief Marketing Officer (CMO) position is going to be extinguished for nearly all companies, moving to digital marketing as a way of survival, making the role of the digital marketer one of the most sought-after occupations.
The top-of-the-line Marketing Technology (MarTech) developments businesses should observe to keep up with the needs and demands of tomorrow's consumers in the new mainstream include:
According to a report, 75 percent of companies already have a long way to go in terms of digital maturity in 2020. This aspect, combined with the do-or-die needs of digital transformation firms, is expected to see the emergence of MarTech's non-code or low-code solutions. These solutions can be conveniently used by advertisers with limited technological skills and marketed to top management with easy data visualization.
2. Future-Proofing Current MarTech stacks
Many corporations now have some form of MarTech. Accordingly, only 33 percent believe that their current technology is valuable, while more than 80 percent are on a short-term or obsolete MarTech roadmap. So, the first order of business for many would be to review their current MarTech stack and make attempts to optimize, boost, or even re-evaluate their existing stack. This instance is also a warning that it is high time for many MarTech stacks and roadmaps to move through the audit stage to satisfy creativity, concentrate on the market distinction, or merely update documents.
3. MarTech to Accelerate Market Growth
More enterprises are switching to digital, with many for the very first time, but all of them have had to rethink their current playbooks or analytical systems that have served them well over the years. If more advertisers plunged into uncharted waters, saturated with the pressure of reduced budgets and higher targets, attribution would become essential.
Currently, 80 percent of marketers are unhappy with the methods they need to calculate Return on Investment (ROI). In comparison, just 36 percent are pleased with how they measure the industry effect, according to one study. Attribution would be crucial to get advertisers back to a trustworthy business partner's role to be perceived as a cost center.