Venture Capital investment in Marketing Automation has been at record pace the last 10 years. For instance, ~$700M has gone into the marketing automation segment over that timeframe, with ~$125M already spent in 2014 alone. The Top 3 — Hubspot w/$131M, Marketo w/$108M, InfusionSoft w/$88M.
In addition, there has been ~$7.5B spent on acquisitions of MAP companies since 2010. Top 3 — ExactTarget (w/Pardot) @ $2.5B, Responsys + Eloqua by Oracle @ $2.37B, Neolane by Adobe @ $600M.
The most recent report from SiriusDecisions suggests the technology penetration is in its infancy – with only ~16% of all B2B companies currently using a MAP. However the entrance of industry behemoths such as IBM, Oracle, SFDC, etc, will surely propel the technology to cross the chasm to mass market.
In other words, if you don’t adopt a MAP soon enough you might lose a competitive edge because most likely your competitor is implementing one as we speak.
Just my $0.02.
Marketing in a web 2.0 world is a complex conundrum. For instance, we need a strategic thinker, an analytic & a creative mind, a tech-savvy person, etc. It takes a village to complete the arsenal! Where should one find these skills?
Be creative – tap into areas that have a surplus. For instance, with the recent streamlining in the finance world – how about considering a financial analyst to help analyze the marketing initiatives (Response/RFM modeling, segmentation, ROI, etc)? Or tapping into a computer science graduate to help with creating a holistic single customer view by integrating the myriad marketing technology infrastructure components?
Not only will these strategies enable a fresh perspective on the marketing initiatives but might also prove more cost-effective for the ever shrinking marketing budget.
In case you missed it, I came across this interesting PR from Oracle: http://bit.ly/1gHnu8P
In summary, the marketing automation landscape is playing out as expected. The big guys (IBM buying SilverPop, Oracle buying Eloqua and Responsys, SFDC buying Pardot & ExactTarget, SAP announcing a deal with Adobe, etc) want to offer a ‘marketing cloud’ service targeted to CMOs. Why? Primarily because the Enterprise IT market is fairly saturated and these companies want to leverage their existing CIO/CTO relationships to diversify and sell into a new budget – marketing! Not to mention, they recognize the growing need to tie/quantify marketing dollars to business objectives that result in BI and insightful decision-making.
All in all, buckle-up. It’s going to be a fun ride for the next 5 years or so.. Happy Monday!
No one individual can be proficient in all facets of marketing (strategic, analytic, creative, technical, etc) – this is where humility comes in. Without humility, a team is unable to learn. Learning is critical in this ever changing world. Without humility, we fail to create space for someone else on the team to contribute. And, we all could use all the help we can get. Without humility, it is hard to imagine a team working together. Without a team, I’d say it’s hard to imagine marketing being effective.