Move over, ad tech. Marketing technology (or “mar tech”) is the hot new arena for digital marketers and powers the deep pipes of technology and data brands use to make business decisions.
It’s also one of the most complex and confusing areas for brands to navigate, and a lot of buzzwords and jargon are thrown around to describe all of its moving parts.
So, Adweek asked Andrew Frank, vp and distinguished analyst at Gartner for Marketers, to explain five mar-tech words in layman’s terms.
Bitcoin, for example, “is kind of like a Napster for financial transactions,” Frank said. “It’s a peer-to-peer network that supports transactions in a noncentralized way.”
And how about so-called “digital transformation”?
Frank described it as “a pretty broad term.”
“But I think that the essential concept is about changing the way that you think about markets,” he said.
That can include physical stores, ecommerce, distribution and supply chains.
“You can pretty much be anywhere and instead of having to worry about the logistics of getting a product or service from point A to point B, you can think a lot more strategically about how you can construct a role in the ecosystem that creates value independent of any physical constraints,” Frank said.
Check out the video to see Frank explain all five terms.
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