6 Strategies for Marketing Technology Vendors that will Accelerate Growth

Over the past 20-plus years businesses of all sizes have adopted a wide range of technologies including PCs, networks, email, word processors, spreadsheets, presentation software, virtual meetings, smartphones and tablets. Few of these provide a measurable ROI or contribution to revenue, although at this point few companies would even think about operating without them.

At the same time, though, the adoption of marketing technology (martech) has been very slow, despite measurable ROI and in many cases a significant contribution to revenue from it. Nothing better illustrates this than that most people could tell you what a search engine is, but even many marketers would have a hard time defining exactly what search engine marketing is, and even fewer could manage it. Other important marketing technologies and programs such as predictive analytics, conversion optimization and marketing automation are just as foreign to most people in business.

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As a result, the 1,000-plus companies that provide some flavor of martech (and the several hundred others that make sales technology), face an unprecedented market challenge.

In this report we will explore:

• How many companies are actually using marketing technologies
• Causes for the generally low adoption rates
• Why marketing technology is a special case of Geoffrey Moore’s chasm model
• The financial losses many marketing technology companies are suffering
• The financial gains companies are missing out on by failing to more aggressively adopt martech
• Some strategies for martech vendors to deal with this situation