MarketStar Blog | Marketing (2)

Key Takeaways

• Both AdTech and MarTech industries are all set to grow rapidly in the years to come

• By staying updated with the latest trends in AdTech and MarTech industries, you can ensure that your company stays on top of the game

• As it grows, artificial intelligence will become more widely used in the MarTech industry 

• The recent boom in new AdTech products/companies has led to a need for AdTech companies to differentiate themselves 

• The AdTech and MarTech industries are both booming right now. But with an upcoming recession, what does the future hold for these industries? 

The AdTech market was valued at $438 billion in 2021 and will grow at a CAGR of more than 9% from 2021-2030. 

The MarTech industry is also growing rapidly, and according to reports, the MarTech market in the UK and North America is worth $149.7 billion. The global market was estimated to be worth $344 billion in 2021. 

Given their consistent growth throughout the years, it is safe to say that both industries will continue to expand despite a recession.

The Current State of AdTech & MarTech Industries

AdTech

What is AdTech? 

“Advertising technology,” or “AdTech,” refers to a broad category of software and tools advertisers use to deliver and track their digital advertising campaigns and target audiences. 

AdTech software platforms assist agencies and brands in buying advertising space and enable publishers to set ad space’s price and sell it. 

AdTech is a rapidly growing industry that is constantly evolving.  

We have seen a boom in new AdTech companies and products in the past few years. This has led to a more competitive landscape and a need for AdTech companies to differentiate themselves. 

Despite the challenges, the AdTech industry is still growing strong. The continued rise of digital advertising and the growing popularity of programmatic advertising drive the expansion. 

With the AdTech industry constantly changing, it can take time to keep up with the latest trends. But by staying up-to-date on the latest news and developments along with focusing on customer obsession, you can ensure that your company stays ahead of the curve. 

MarTech

What is MarTech? 

MarTech refers to any software or tools marketers use to plan and execute their marketing activities offline and online.

Marketers use MarTech solutions for various marketing activities, including social media marketing, email marketing, marketing campaigns, marketing strategy, marketing automation, retargeting, and more.

The MarTech industry is currently in a state of flux.

For years, marketers have relied on various technologies to help them reach their target audiences. But with the ever-changing landscape of the digital world, it can take time to keep up with the latest trends and technologies.

This is where MarTech comes in.

MarTech is the term used to describe the intersection of marketing and technology. It is the process of using technology to solve marketing problems. 

With the help of MarTech, marketers can automate their tasks, personalize their messages, and better track their results.  

MarTech is constantly evolving, and it can take much work to keep up with the latest trends. But by staying informed, marketers can ensure they are always using the best tools to reach their audiences.

Are AdTech & MarTech Prepared for a Recession?

The global economy is showing signs of slowing down, and many experts predict a recession shortly.  

Advertisers and marketers are already feeling the pinch, with ad spend growth slowing down in recent months. So the big question is: are AdTech and MarTech prepared for a recession? 

There are a few things to consider in the AdTech industry. 

• AdTech is a highly competitive industry. During the last recession, ad spending increased as brands sought to cut costs and be more efficient with their advertising budgets.

• A recession could be good for AdTech. As brands look to cut costs, they’ll be looking for more efficient ways to reach their audiences, and AdTech can offer that. 

In recent years, there has been an explosion in the MarTech industry.  

With new tools and platforms being created daily, it takes time to keep up with the latest and greatest. However, with the global economy heading towards a recession, it’s important to ask: is MarTech prepared for an economic downturn? 

While it’s impossible to predict the future, there are a few things we can look at to see if the MarTech industry is prepared for a recession: 

• Most MarTech platforms are subscription-based, which can be easily scaled back or cancelled if necessary.

• Many MarTech companies offer pay-as-you-go pricing models, which can be helpful for cash-strapped companies. 

• Specific MarTech platforms offer free or low-cost trial periods, so companies can test them before committing.

The Future

AdTech

Advertising is evolving; consumer behavior and how we consume media is changing. Advertisers are now turning to AdTech to target and reach consumers in new and innovative ways. 

AdTech includes various technologies and platforms to deliver, measure, and optimize advertising. This includes programmatic advertising, ad exchanges, and even data management platforms.  

AdTech is constantly evolving, and it shows no signs of slowing down. As consumer behavior changes, so too must advertising. AdTech will play a pivotal role in the future of advertising, and it is poised to revolutionize the industry. 

Although we are heading towards a recession, the future of AdTech looks bright. And there are several reasons to be optimistic about the future of AdTech. Here are the top three positive aspects: 

• AdTech is becoming more efficient

• AdTech is becoming more automated

• AdTech is becoming more AI-oriented

These three trends suggest that companies that invest in the latest technologies will weather the storm and come out stronger on the other side of the recession.

MarTech

The MarTech industry is changing rapidly. New technologies are emerging and transforming the way businesses operate. Here’s a look at some of the latest trends in MarTech and what they mean for the industry’s future. 

One of the biggest trends in MarTech is the move towards artificial intelligence (AI).  

AI is already used in various applications, from customer service to marketing. And as AI technology develops, it will become even more widely used in MarTech. 

Another big trend is the increasing use of data.  

Businesses are collecting more data than ever before and using it to drive their marketing decisions. As data becomes more accessible and easy to use, companies will continue to use it to form their marketing strategies. 

MarTech is becoming more and more accessible to companies of all sizes, thanks to the rise of cloud-based solutions and pay-as-you-go pricing models.  

And as MarTech continues to evolve, we expect to see even more innovations to help businesses market more effectively and efficiently. So if you’re worried about the future of your MarTech, don’t be. The future of MarTech is bright, regardless of the current economic climate. 

To Wrap Things Up

The global economy is forecasted to enter a recession soon. This might impact various industries.

However, AdTech and MarTech are driven by data and technology, which are two areas still expanding even in times of recession. As long as companies are willing to invest in data and technology, AdTech and MarTech will continue to grow.

These days, knowing your prospects is more crucial than ever. It's not just about understanding their interests; it's about deciphering their intentions. Buyer intent provides valuable insights into whether a prospect is merely curious or ready to invest in your product or service.  

By analyzing the digital footprints left by your prospects, you can gain a deeper understanding of their purchasing journey. This knowledge allows you to tailor your approach, ensuring you engage them at the right time and with the right message. Let's dive into how you can uncover and interpret this data to enhance your sales strategy.

In today's digital age, live streaming has become a game-changer for businesses. It's not just about broadcasting; it's about creating real-time, interactive experiences that engage your audience like never before. From product launches to Q&A sessions, live streaming can enhance your brand's presence, foster community engagement, and drive leads and sales. But with so many platforms available, how do you choose the right one for your business needs? Let's dive in. 

It’s no secret that event marketing is highly effective. The practice of engaging people face-to-face during a social event yields rewards that more than justify the budget. Yet while it may seem simple on the outside – set up a booth; staff it with friendly, knowledgeable people; offer branded schwag – for your event marketing to truly have a lasting impact beyond the initial contact, you must carefully consider and plan the kind of content you employ. 

Studies show that businesses that implement a sales enablement solution see an increase in their content usage, conversions, revenue generated and deal size. However, before you deploy your sales enablement solution, pause and ask yourself: Is your sales enablement platform everything it could be? 

In a recent study commissioned by Content Marketing Institute and Marketing Profs, the greatest challenge (as reported by 41% of respondents) before B2B marketers is - 

“Producing the kind of content that engages prospects and customers” 

The tables are turning in favor of stickiness factor of content. Stickiness is not a rare commodity if your content marketing initiative is driven by strategy. The strategy is at the heart of every successful content marketing initiative.  

To give an example, Coca-Cola is undergoing a major overhaul in its strategy – from creative excellence to content excellence. If we analyze Content 2020 and other successful content marketing strategies, we stumble upon content secrets which are only too familiar. 
These are - 

Every business is scrambling to find a place in the customer’s mindspace. That’s because today’s customers expect service delivery to be instant, personalized and meaningful every time, everywhere and across every channel. Undoubtedly, contact centers are doing a good job of resolving customer issues. But the challenge is in meeting the ever-changing needs of an ever-evolving customer. So, many contact centers adopted multiple channels besides voice to connect with their customers. But this doesn’t suffice anymore since it’s not about different channels delivering disparate experiences anymore. 

Say hello to the era of omnichannel experiences. The time is ripe for contact centers to make the transition before they miss the bus. Omnichannel is about delivering services through multiple channels in a seamless manner. The company enjoys sundry benefits, including cost reduction, thanks to the consolidation of service delivery, while the customer benefits by experiencing a service that is swift and seamless across channels. But a few questions remain unanswered: Is there a tried and trusted way to jump-start the transition? Can the omnichannel strategy help deliver stellar customer service? 

As B2B buyer behavior evolves, the content demands on vendor organizations and sales teams continue to grow. Adequately addressing these demands is possible only with a strong content strategy — one that addresses important questions such as what purposes the content should serve, what goals it should achieve, who the content should serve and how, and how it should be designed, created and managed.1

In response to the demands of physical distancing and work from home that came with the onset of the current pandemic, many sales organizations were quick in adapting to a virtual sales model that they hoped would only be a holding pattern until the situation “returns to normal.” However, what we are looking at is not a temporary disruption to the sales process and methodologies, but a thoroughgoing restructuring. While many of the digital shifts were already in play before the pandemic, the new normal requires companies to adopt them within much shorter timeframes. Sales enablement has a vital role in all of these changes as it provides a robust framework to support remote sales training and coaching, virtual selling, and the implementation of a virtual sales model that is appropriate for the emerging digital world. 

Sales training is a multi-billion dollar industry. The global workplace training industry reached an estimated market size of 370.3 billion U.S. dollars in 2019.1 Organizations spent an average of $2,326 per salesperson on sales training annually.2 But how successful have these training programs been?  Seemingly, not very successful.  Consider this. A 2018 study3 revealed that just over half (53%) of all sales organizations hit their target numbers, and this figure has been on a decline over the past five years.