MARKETING
Martech Mania Brings International Celebration and Over 11,000 Solutions
How much marketing technology do you need?
Apparently, more, more, and more.
And you need to celebrate it.
This week, Scott Brinker released the 2023 edition of the Martech Landscape Map – with a whopping 11,038 solutions. And on Tuesday, the world celebrated International Martech Day. (Sorry, we couldn’t find a Hallmark card to send to all of you martech professionals in the audience.)
In case you’re unfamiliar with the martech landscape map, Scott, the editor at ChiefMarTec.com and vice president of platform ecosystem at HubSpot, started it in 2011 with 150 solutions.
The 2023 edition of the Martech Landscape Map encompasses over 11,000 solutions via @Robert_Rose @CMIContent. Click To Tweet
Each year, it has grown exponentially. As a result, Scott usually launches a new way to view the data. This year, he published a technology-capability heat map (registration required), which reveals the most popular capabilities, including “personalization.”
You can search the map by category, rating, number of employees, and more parameters to look at the 11,000-plus solutions more easily.
CMI’s chief strategy advisor Robert Rose shared his thoughts in this week’s CMI News video. Watch it below or keep reading for the highlights.
Trends in this year’s martech landscape map
Before diving into the trends, CMI’s chief strategy advisor Robert Rose gives kudos to Scott for creating and continuing to evolve one of the two most remarkable examples of B2B content marketing. (The Edelman Trust Barometer is the other.)
Now for two of the trends revealed in the map. Martec.org reports more companies want to acquire technology to enable a two-way flow between data warehouses and frontline solutions like customer data platforms.
“In businesses of all sizes, the idea of a ‘data warehouse’ in marketing might as well be a starship,” Robert says. “Aligning or de-siloing data for audiences, customers, and content consumption remain a struggle for most brands – even the biggest companies on the planet.”
Though some big initiatives have helped the data flow better, companies seek a single source of data truth. They don’t seek more solutions to do it. The single source could be a customer relationship management (CRM) platform, a marketing automation solution, a customer data platform, or a combination.
Companies seek a single source of data truth – not more solutions to do it, says @Robert_Rose via @CMIContent. Click To Tweet
The martech map indicates another trend with its emerging categories – digital experience, commerce, and customer data platforms. Robert explains, “It just makes sense to find a single source of truth for the content, too. By storing and making all the marketing content, it can service all different interfaces.”
Interestingly, the trends indicate most businesses should prioritize how they manage content and the data it produces before AI, analytics, and personalization. “It’s like prioritizing the repairs for the plumbing and electrical in your house. Though you can hardly see them, they are the most important thing you can do to live safely and comfortably at home,” Robert says.
Most businesses should prioritize #content and data management before AI, analytics, and personalization, says @Robert_Rose via @CMIContent. Click To Tweet
Take a look at the martech landscape to see what’s happening with tools today. And let us know in the comments your thoughts on this question: What are your most essential technologies to implement and create single sources of truth?
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Cover image by Joseph Kalinowski/Content Marketing Institute
MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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