Remember the Mad Men era of advertising? The ideas, the creativity, the strategy, the swag! Old schoolers believe that technology will kill that “mad” advertising creativity and storytelling. But over at ReBid, we know that the powerful combination of Mad Men and MADTech will drive the future of advertising and marketing as we know it.
What is MADTech?
MADTech is short for “Marketing and Advertising Technology.” It refers to the intersection of marketing and technology. It incorporates the diverse ways these two fields are coming together to disrupt how businesses reach and engage with their audiences.
In the past, marketing and advertising were mainly about creating compelling messages and disseminating them through traditional channels like television, radio, and print media. But today, with the proliferation of digital technologies, new tools and platforms are transforming how businesses connect with their customers.
What’s driving MADTech adoption across the world?
The answer, of course, is in the convergence of data and modern technologies. Let’s see how.
- Data as a MADTech driver:
One of the key drivers of the Madtech Era is the recent explosion of data across the business and consumer landscape. With the proliferation of sensors, mobile devices, and the Internet of Things, we are now generating more data than ever before. 60% of the world’s population is now online, creating 1.134 trillion megabytes of data… Wait for it… Every single day.
This explosion of data is giving businesses new insights into their customers and how they engage with products, services, and the world around them, both physical and digital. These insights cannot go to waste, and that’s where the role of MADTech becomes crucial.
With the help of advanced analytics and machine learning-enabled platforms, businesses can now gain a much deeper understanding of their customers and the factors that drive their behavior. This, in turn, enables them to create more personalized and effective ad and marketing campaigns tailored to customers’ specific needs and preferences.
- AI and automation as MADTech drivers:
Another factor driving the Madtech era is the rise of artificial intelligence (AI) and automation. AI is enabling businesses to automate many of the tedious and time-consuming tasks that were once the domain of human marketers. This frees marketers to focus on more strategic and creative interventions while also enabling them to scale their efforts and reach larger audience segments.
One vital area where AI is profoundly impacting is customer service and CX. AI-powered chatbots and other technologies can now handle many of the routine inquiries and interactions that were once the domain of human customer service representatives. This enables businesses to provide faster and more efficient customer service while also allowing them to redirect their human resources to more complex and high-value tasks.
- Digital channel proliferation as a MADTech driver:
Yet another driving factor for the Madtech Era is the growing importance of digital channels in the marketing and omnichannel shopping mix. Consumers are spending more and more of their time online. This is leading businesses to shift their focus from traditional channels like television and radio to digital channels like social media, mobile apps, CTV and retail media platforms.
These shifts are driving new marketing technologies and platforms. For example, the rise of social media has given rise to new forms of advertising, such as sponsored posts and influencer marketing. Meanwhile, the growth of mobile has led to the development of new technologies like location-based marketing and beacon technology, which enable businesses to target customers with highly personalized messages based on their locations and behaviors.
These factors combine to create the perfect storm driving the MADTech age of advertising and marketing. As we move into 2023 and beyond, we can expect a steady stream of exciting developments in the ad and marketing ecosystems. Businesses will continue to embrace new technologies and platforms to reach and engage with their customers more effectively and in personalized ways.
Ready for the world of Mad Men and MADTech convergence?
If you are looking to ace the new age of advertising and marketing with MADTech at the core, you have reached the right place!
ReBid is a Unified MADTech Intelligence Platform that unifies Martech and Adtech data, giving you a comprehensive and actionable view of your customers.
With our platform, you access and analyze data consolidated from all of your marketing and advertising tools in one place. This means you can get a holistic picture of your marketing and advertising interventions and their effectiveness.
