Marketing is taking a new turn with every technological development. Marketing technology or Mar-Tech is the new buzzword that every brand and agency love to hear these days. Not long ago, ad tech was a favorite word that everyone loved. But with new trends shaping up, there is a new trending word in town.
However, technically speaking, Mar-Tech is not a new term. Way back in 2016, capital investment in Mar-Tech made a whopping $2 billion. But even as Mar-Tech is receiving so much love and gaining popularity, there are still many questions confusing clients.
According to Ric Elert, President of personalized digital marketing agency Conversant, the questions that the clients ask is still very basic. “I get the sense that some brands feel that what we do is smoke and mirrors because it’s technology. It’s artificial, unlike a billboard or TV ad” he added.
So what is Mar-Tech?
Simply put, Mar-Tech would mean the blending of marketing and technology. Technically, it would mean anyone involved with digital marketing, since the very nature of digital marketing is technologically –based. It specially applies to major initiatives, efforts and tools that harness technology to achieve marketing goals and objectives.
While ad tech and Mar-Tech almost gel together, they chiefly serve two separate purposes. Mar-Tech is more hostile about loyalty and one-to-one customer relationships. Although Mar-Tech is not one size fits all or a silver bullet, but it is a technological vehicle for clients to test and learn.
It is true that many clients feel skeptical about how Mar-Tech has gained immense popularity with so little understanding of it. In addition to this, there is even marketing cloud, which promises to deliver and connect with consumers across the entire customer journey. It even promises to help brands deliver on the promise of personalization. Maybe given with more time and success stories, the term Mar-Tech will reach even more popularity.