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Marketing technology is big (really big) business

Tom Kaneshige | Feb. 23, 2015
Hold on to your hats, spending on marketing tech is about to take off -- $120 billion over the next decade, up from $1.2 billion today. At least that's what Ashu Garg, general partner at Foundation Capital, sees when he gazes into his crystal ball.

Even worse for marketers, most of this "unowned" brand interaction occurs during the critical stage of passive shopping, not active shopping — three out of four consumers will buy from a brand that rose to the top during passive shopping, says Foundation Capital.

Marketers competing with this unowned content can no longer simply deliver inspirational slogans and pretty pictures, rather marketing content must be chock full of customer stories, fact-based data or other relevant information that lifts it above the noise.

"Marketers must publish or perish," Garg says, as well as use marketing tech to identify the best unowned content and then find ways to amplify it.

While content creation, aggregation, analysis and delivery tools are important for marketers, they are only a piece of the larger marketing-tech puzzle. The many pieces, Garg says, are very complex for marketers to digest and incorporate into their workflow. Foundation Capital has identified some 20 tasks that marketers will need to rely on marketing tech to accomplish, ranging from stitching data together to programmatic buying to surfacing relevant insights at the exact right time to take action and help close the deal.

 

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