The marketing technology sector is a fundamental factor and driver of IT purchasing and this trend shows no sign of stopping or even slowing down any time soon. All industries are embracing social, mobile and cloud technologies to enhance their day to day operations. In fact the research company Gartner predicted back in 2012 that by 2017, ‘CMO spend will be more than CIO spend’. With this prediction, Osmii questions the extent to which globally the marketing budget will increase within 2016 as all signs indicate that this shift is well underway.
Over the last few years it has become increasingly more difficult to be involved in a consumer’s journey from initial stage of viewing the product to their final purchase of said product. This is due to the process taking place across a number of different channels from blogs, web pages and emails. With the hard task of reaching customers through this vast amount of digital platforms, you will start to see that brands will be willing to spend more money on technology, which will inevitably do most of the work for them. Cloud is the natural answer as it forms an integrated digital marketing hub that allows organisations to work together and better align initiatives to meet business goals. The popularity of the trend has resulted in a digital marketing cloud war as software companies battle to win over the CMO.
This trend has been recognised and incorporated into many companies who have built tools as a provider for all marketing solutions. The first example of a company who have attained this are tech giants Adobe with their Marketing Cloud, which measures and optimises digital experiences to accelerate marketing performance. Adobe’s vast range of products includes Adobe Analytics, Adobe Target, Adobe Social, Adobe Experience Manager, Adobe Media Optimizer and Adobe Campaign, as well as real-time dashboards and a collaborative interface. With all these products, marketers are able to combine data, insights and digital content to deliver the optimal brand experience to their customers.
Another major player is Salesforce who aim to aggregate companies’ customer information into a single, integrated platform so that it enables a company to build a customer-centred business from marketing right through to sales, customer service and business analysis. The tools they offer include Sales cloud, Service cloud, Marketing cloud, Community cloud, App cloud and Analytics cloud and IOT cloud.
A less well known but up and coming company in this space is Janrain who have created a pioneered social login technology that collects data used to personalize content and increase customer engagement. To enable better customer service interactions by providing the right kinds of data that makes a business’s marketing more efficient.
To current market shows us that cloud is being positioned as a much-needed central platform to control and align the raft of new marketing opportunities that have surfaced from other emerging technologies in recent years. With the average spend being 80k average percentile spend on marketing technology per company, it is a clear choice for Osmii to devote a key part of their attention on partnering with these up and coming and established leading vendors in the digital marketing technology space.