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Make the digital economy personal

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Make the digital economy personal

“All businesses must redefine how we engage with customers and deliver digital experiences at unprecedented scale,” said Adobe CEO Shantanu Narayen in his opening remarks at Adobe Summit today. Summit, one of the largest in-person events in the marketing tech space — it drew over 16,000 attendees to Las Vegas in 2019 — opened today as a virtual event for the third consecutive year.

Adobe is heavily focused on e-commerce and Narayen noted a record number of billion-dollar online sales days last year, with an anticipated trillion dollars in online sales in 2022 in the U.S. alone. Since the onset of the pandemic, Narayen said, people have learned to do many things in the digital world they once only did in the physical world. “This enormous shift to digital was a catalyst for people to reimagine what the future might look like, from reflecting on life choices and reinventing themselves with new jobs and new businesses to exploring new ways to monetize their content and creativity.”

We have seen a rekindling of interest in the web as an immersive experience, Narayen said. “The ongoing conversation on the metaverse reflects the fact that the distinction between what people do in the physical and virtual worlds is blurring.”

The challenge is to “make the digital economy personal,” he continued. Experiences need to be real-time and delivered at unprecedented scale.

Innovations and integrations. Among the key platform announcements at Summit:

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  • Integrations between Creative Cloud and Experience Cloud are enabling immersive, metaverse-style experiences for brands like Coca-Cola and NASCAR. Among the innovations previewed at Summit: Adobe Substance 3D Modeler for 3D creation and sharing (currently in beta).
  • Adobe Experience Cloud for healthcare, supporting enhanced digital experiences from healthcare providers.
  • Enhancements to Adobe Sensei, the AI engine, including sales opportunity predictions, cross-channel budget optimization, intelligent product recommendations and budget forecasting and allocation.
  • UPDATE. Adobe also announced the integration on Adobe Real-Time CDP with Adobe Target, enabling near-instant personalization of millions of digital experiences.

Why we care. Adobe is a veteran software company, celebrating its 40th anniversary at the end of this year. It was also, as Narayen noted in his keynote, the first to launch what we soon came to call a marketing cloud. The Adobe Experience Platform now extends beyond marketing to support sales and service too.

With its roots in content creation, Adobe should be well-positioned to develop tools that support metaverse-type experiences. And note Adobe’s interest in the healthcare space, a space that has recently attracted the attention of enterprise CDPs like ActionIQ and Treasure Data. It’s a huge potential market and marketing tech has its eyes set on it.


About The Author

Are you using no code tools
Kim Davis is the Editorial Director of MarTech. Born in London, but a New Yorker for over two decades, Kim started covering enterprise software ten years ago. His experience encompasses SaaS for the enterprise, digital- ad data-driven urban planning, and applications of SaaS, digital technology, and data in the marketing space. He first wrote about marketing technology as editor of Haymarket’s The Hub, a dedicated marketing tech website, which subsequently became a channel on the established direct marketing brand DMN. Kim joined DMN proper in 2016, as a senior editor, becoming Executive Editor, then Editor-in-Chief a position he held until January 2020. Prior to working in tech journalism, Kim was Associate Editor at a New York Times hyper-local news site, The Local: East Village, and has previously worked as an editor of an academic publication, and as a music journalist. He has written hundreds of New York restaurant reviews for a personal blog, and has been an occasional guest contributor to Eater.


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MARKETING

Trends in Content Localization – Moz

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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.

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How AI Is Redefining Startup GTM Strategy

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How AI Is Redefining Startup GTM Strategy

AI and startups? It just makes sense.

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More promotions and more layoffs

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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. 

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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%). 

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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.”

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Men and Women

Screenshot 2024 03 21 124540Screenshot 2024 03 21 124540

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. 

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Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.

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