As we return from the Thanksgiving break, the owners and employees at marketing technology companies have many reasons to be thankful, as it is a very robust and growing marketplace. Here are a couple of reasons why:
- Marketing continues to get more complex. Marketing automation. Retargeting. FBX. Organic reach. It’s not easy for marketers to keep up-to-date on all of the different ways they can boost their message and reach their customers. Marketing technology companies can come into organizations large and small alike and provide real tangible solutions that cannot be easily replicated internally.
- Budgets are increasing. Most analysts project that the budgets of CMOs will reach or surpass the budgets of the IT department within the next ten year. This is likely the confluence of companies opting for newer, cost-friendly tools like Google Apps and Slack for the enterprise, and the need for organizations to quickly scale their marketing capabilities to attack the above point.
- Venture capital flows freely. While the more marquee “unicorn” companies like Instagram, Whatsapp and potentially Snapchat get more of the attention, the reality is that many venture capitals are still keen on the enterprise market.
- Competition is good. It would be easier to claim too much competition could be a thing that companies are not thankful for, but the reality is that there is enough business out there for many marketing companies to thrive, and indeed those with a fundraising advantage could bolster their own companies by acquiring and consolidating the competition.
- The science matters more than the art. In social media’s nascent phases, the most important thing to drive success was creating buzz-worthy content. While that still holds value, decreased organic reach and increased noise and potential channels means that having a smart approach and the right tools are important to even expose your content to even the smallest audience
- Tis the season. The gift-giving holiday season approaches and marketers will jostle for the attention of their audiences, who increasingly are learning about products through social media and search.
While marketing technology companies are not immune to the same pressures as anyone else in an uncertain economy, there are still a lot of positives to take away as 2014 draws to a close.