Every year, Scott Brinker and his team at chiefmartech.com research and compile the “MarTech 5000” — a comprehensive overview of all the players in martech. The landscape (and the infographic below) keeps getting bigger, and the named MarTech 5000 includes 6,829 companies in the 2018 edition.
It’s an awesome resource. But it’s also overwhelming. If you spent just five minutes researching each of the vendors in the MarTech 5000, it would take you 569 hours — the equivalent of 14 40-hour work weeks.
Who has time for that? Today’s enterprise marketing teams are hiring dedicated technologists (see: The Rise of the Chief Marketing Technologist) on their own teams and working directly with IT departments to implement growingly sophisticated marketing stacks. But for small and medium-sized businesses (SMBs), neither company leadership nor their lean marketing teams have the time and expertise to navigate this landscape.
The reality is that only power users can truly understand the granularity of any martech service’s capabilities well enough to know how it differs from other similar offerings. So, the marketing agencies that use martech services (like ours here at Agendize) are in a much better position to make decisions about technology than the clients they serve.
Put another way, the SMBs that need their agency partners to execute marketing programs need help with the tech, too.
It’s an opportunity we delve into in our latest ebook, Why marketing agencies need to provide technology to remain relevant today. We examine why more agencies are starting to look beyond simply selling services that are project-based or hourly. And we cover the types of complementary product-based services and martech that make the most sense for agencies to invest in and add to their capabilities.
A few years ago, San Francisco Bay Area-based agency Alaniz Marketing found that executing digital programs on behalf of their clients and understanding the technology wasn’t enough. They needed to offer it as a part of their services -- because separating the technology from the marketing programs just didn’t make sense anymore.
“Helping our clients define their marketing stack is really important because we have that deep expertise,” said Andrew Erickson, a partner at Alaniz. “Everything that we work with as a piece of software influences the marketing strategy.”
Agencies that succeed today and tomorrow are responding to the needs of their customers -- including becoming the experts on martech. In the case of SMBs, that might mean being a strategic advisor for clients on purchasing technology. But it’s also an opportunity for agencies to literally own and sell different digital products, whether developed on their own or offered as a reseller.
Check out our new ebook here, and let us know what you think!