Welcome to what will now be known as the #Squint conference. Why? Because there is just SO MUCH happening in the MarTech space, our slides are becoming crowded with data, ideas and logos. I mean, have you seen the 2016 Marketing Technology landscape that Scott Brinker put together? The number of logos on there has skyrocketed from about 2000 last year, to a whopping 3874 this year. (That’s 87% growth!)
All these marketing technologists (or unicorns, as we like to call ourselves) are gathered again together for the annual MarTech Conference in San Francisco. Scott Brinker, Conference Chair and Editor & Publisher of chiefmartec.com, kicked off the day with his keynote, and it really got our attention.
Scott Brinker proclaimed, “Modern marketing has more in common with the software profession than it does with classic marketing management”, and he can back that up. In his presentation, he introduced some thought-provoking concepts for us marketers that can be learned from our friends over in the IT world.
Let’s break down a few of the key takeaways that really caught our attention (and we think will catch yours too).
1. Managing Innovation & Sustainability Simultaneously with Bimodal Marketing
There are really two separate approaches that need to be managed here: Innovation and Sustainability. Brinker chuckles, “Managing either column would be challenging. Modern marketers are being asked to manage both simultaneously. It should be an Olympic sport.”
So, how do you manage both innovation and sustainability? Well, you need bimodal marketing, says Brinker. Spend 70% of your budget investing in your core programs (the stuff you know you need and you know works) and then the other 30% investing in new programs (the shiny, new stuff you’re trying out). Once you determine what works (of the shiny, new stuff), you can transition it into your core.
We love this concept and are big believers in trying new things (execute fast, iterate often and improve relentlessly are part of our company culture code). What happens if you don’t do this? Your customers evolve beyond you and you get left behind. #WompWomp
— Jason Seeba (@jseeba) March 21, 2016
— Frank Guardi (@FrankGuardi) March 21, 2016
2. Building For Change
With all the real-time feedback we are getting today via social media and various metrics we pull in, we all need to be iterating quickly. This can be a challenge when we need to change some of the lower layers within marketing. What if you think your brand says one thing, but the feedback you’re getting says it’s saying something else? You need to get in there and change that lower layer ASAP. Are you set up to do this? This is a similar challenge to what software developers face as well. Brinker is suggesting we build for change right from the get-go. We agree! Build systems that can monitor and measure the business impact of change. And be ready to make swift decisions when the data comes in.
— Shep Hyken (@Hyken) March 21, 2016
3. The 10X Marketer
Have you ever heard of the “myth” of the 10X Engineer? Brinker says, today we are entering an era of 10X Marketers. Modern marketers today have so many touch points with customers that even individual marketers can have an impact within their companies. And with digital being such a big piece of the puzzle these days, we have so much more leverage as well. “It’s not just about the dollars you spend—the ideas you have can have incredible impact.”
— Barre Hardy (@barreblake) March 21, 2016
— Stan Phelps (@9INCHmarketing) March 21, 2016
Relevant lesson from the digital analytics space: great teams are not driven by 10x-ers, but strong teams. Same true in #MarTech.
— Blair Reeves (@BlairReeves) March 21, 2016
Okay, unicorns. This is just the beginning.
The MarTech Conference runs for another day and a half, and we all have a lot more to learn. We’ll continue to share some key takeaways with you on Twitter of course (@allocadia) so tune in there. But for now, we’ve got some more squinting to do.
And if you’re in San Fran at the conference, come by our booth 633 and say hello.
Catch you on the flip side!
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