The differentiating line between AdTech and MarTech is thin, and that’s where MadTech emerges
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The overlap between AdTech and MarTech created the need to coin this new term- MadTech, which is the new buzzword with marketing professionals. MadTech, first coined by David M. Raab back in 2015, stands for the convergence of advertising, marketing, and technology. The term has emerged to accurately represent the current state of advertising and marketing technology, irreversibly bound and intertwined by data.
MarTech and AdTech have co-existed at the opposite ends of the sales funnel, but it is incredibly difficult to draw a clear differentiation between the two. The fact that the differences are so cluttered, there is a much-needed shift in the industry regarding the way the AdTech and MarTech are viewed.
Any technology platform considered revolves around processing and aggregating vast amounts of data. MadTech has gained traction helps them to combine marketing and advertising technology into one seamless platform. This will make things much simpler for marketers, advertisers, and sales departments.
MadTech creates a foundation for marketers to build richer data. MadTech uses algorithms and programs to target audiences with much more precision than traditional marketing and advertising. Thanks to MadTech, marketers can better comprehend what their consumers want and need, by using technology and data to gain valuable insights.
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The convergence of advertising and marketing technologies results in several benefits for modern marketers. It creates better insights needed to streamline media buying with a higher inter-dependence amongst these technologies. This convergence combines customer data collected from various sources – point of sale, e-commerce platforms, loyalty-program interactions, and in-store and social media interactions for better digital marketing.
Media buying decisions led by deep customer insights ensure that brands get maximum returns on their advertising spend. It enables marketers to develop emotional connections with customers because they can engage and identify with them at a more granular level. It’s a significant step forward in a customer-engagement strategy, made possible by merging advertising and marketing technology.
Data equally propels MarTech and AdTech. MadTech offers de-siloing and connection of several data sets. By combining all the data and creating audiences, companies, and brands can perform effective people-based marketing, which revolves around measuring and targeting campaigns at an individual level across any channel.
In addition to developing a broad view of the customer and precise targeting, connected customer data also allows advertisers and marketers to assess better and measure their media buys, ad inventory, and outreach programs. Better metrics create more effective campaigns, which, in turn, lead to revenue growth and customer acquisition.
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With MadTech, marketers have more precise insights about existing customers as they better know their existing customers. This helps them to streamline targeting the new, potential customers, reducing the cost of advertising efforts.
MadTech gives a proper handle to competencies that have naturally evolved over the years and are increasingly common in the industry. MadTech is not an invention; it is just an observation of the natural evolution of advertising and its indispensable connection with marketing.
