MarTech is reigning supreme. According to Chief Marketing Technologist blogger, Scott Brinker, there are close to 4,000 MarTech companies currently tracked in 2016, compared to just over 150 in 2011. That is an impressive 4,000% growth. In his latest MarTech supergraphic, Brinker identified 220 tools in Sales Automation Enablement and Intelligence, 186 in Social Media Marketing & Monitoring, 180 in Display and Programmatic Advertising, 161 in Marketing Automation & Campaign/Lead Management, and 160 in Content Marketing.
Analysts predict MarTech is only going to keep growing,
with IDC forecasting that the worldwide spend for marketing software will grow to $32.3 billion by 2018 from $22.6 billion in 2014. Given the breakneck speed of growth, many are wondering if we are witnessing a MarTech Nirvana or Bubble. I would argue that the tipping point is upon us, the spring cleaning of MarTech is coming as rigid soloists and “all-in-one” uber-platforms fail to meet the needs of agile marketing and business leaders.
If history proves us right, let me offer
two seminal books that contain the answers to the VP Administration Email Lists MarTech nirvana vs. bubble debate – Momentum: How Companies Become Unstoppable Market Forces by Ron Ricci and John Volkman and Strategy Rules: Five Timeless Lessons from Bill Gates, Andy Grove, and Steve Jobs, by David Yoffie and Michael Cusumano. The secret to tech success has and continues to lie in companies’ ability to build rich tech ecosystems – because killer brands are never finished and they never stand alone.
Companies like Apple, Google, Amazon and Cisco have become unstoppable market forces not only because of their product and tech superiority, but because they have also successfully mastered is the art of ecosystem-building. As of July 2015, according to Statista, Android users were able to choose among 1.6 million apps, while the Apple’s App featured over 1.5 million available apps. Where MarTech has come short is in this powerful ecosystem effect – as Scott Brinker puts it, MarTech has failed to build leading platforms, like the Windows operating system, or ecosystems, similar to Google’s Android or Apple’s app store.