Vice President and Principal Analyst Joe Stanhope discusses the current state of marketing technology — and the real opportunity for marketers to master this technology to drive a fundamental shift in their operations.
Joe Stanhope, Vice President, Principal Analyst
Marketing needs to adapt to a wildly different reality and set of expectations. And here comes technology to the rescue. But like many forms of digital disruption that firms undertake, the first set of actions are not to use technology to transform the operations — but to codify existing operations. The goal was to enable marketers to do what they were doing faster and better.
Independent of the strength of the technology, marketers are running into the reality of marginal return. And that is where our story begins.
Marketing was born as a mass market play, the ability to broadly engage a population with similar stories and actions. Those instincts and operations were honed by creating more clever segments from demographic, firmographic, and behavioral data; by seeking to find the connective tissue among first-party and third-party data; and by the continuous optimization of different channels.
That’s no longer sufficient in today’s world. And the reality of delivering personalized experiences in context of an individual’s current situation, prior experiences, and emotional state, does not hone the existing model; it puts the existing model on its head.
And that is where marketing technology plays — essentially to engage market segments of one on their terms and in their context at scale.
In this episode, Joe Stanhope talks about the current state of marketing technology; discusses the challenges and opportunities of using technology to drive fundamental change in marketing operations; and identifies the technologies that will catalyze those changes to deliver value for the business and create a strategic advantage in the market.