Following Chief Martech infographics, year after year, always provides  amazing insights, as it helps us materialize how denser the marketing tech solution ecosystem gets every year….

Here is the 2023 map of all marketing tech solutions availale on the market, each dot representing a solution

In 2023, there are more than 11K solutions available in the Marketing Technology segment, 11% more than last year, 7000% more than 12 years ago !

“ It’s the same dualistic story we’ve seen for the past 12 years in martech. Yes, there is consolidation and churn. Even significant consolidation and churn. But the rate at which new startups have launched has consistently outpaced the exit rate of those who leave the arena, whether victorious or dead”

Marketing technology is only an example, but the number of solutions available to decision makers is growing exponentially in all segments. 

Recent Gartner data shows that the global software market will grow 26% between 2022 and 2024. And a highly compelling study by The Boston Consulting Group, tells us that SaaS is exploding in every category, growing at an average rate of 179% in 2023 alone, with segments such as Fintech or AI SaaS growing around 300% ! 

Now, this exponential growth does not come without consequences and additional complexity for both technology buyers and vendors.   

 

For clients and users

Whether you are in a leadership, business, IT or procurement position, keeping-up with the exponentially growing number of options becomes highly challenging. Especially knowing that on average a company uses close to 150 solutions and 70% of those are chosen by non-IT stakeholders. .

Sourcing and acquiring the right tools at the right time to build a coherent and efficient tech stack is obviously crucial to any organization, yet most companies are still far from reaching tech sourcing excellence. 

 

1 – Bridging the knowledge gap.

(see a previous post here

Good decision making requires being in total control of one’s tech ecosystem. Being able to identify trends and anticipate business needs. Benchmark one’s operation against best practices and competitors, learn about solutions and their value, consume the right knowledge provided by vendors, peers and experts, etc…  

To make digital transformation happen, it is imperative to diffuse the right tech culture throughout the entire organization and tech related knowledge at every level, from the CEO to the end-user. 

However, current information sources are either too generic, biased by advertising, highly dispersed or incomplete. Vendors are constantly pushing to reach-out, spamming decision makers through emailing campaigns and armies of low level cold calling mercenaries.

2 – Reaching tech sourcing excellence 

There is no easy way to navigate this ever expanding ocean of solutions at our disposal. 

Grasping the full visibility of the solutions at hand, identifying the ones that actually bring value to my specific needs, that will be adopted by my users while ensuring the utmost level of security and work well with the rest of my stack, is time and resource consuming. 

To succeed, companies have to clarify and prioritize their tech needs, identify the right solution, reach-out and generate high value conversations with selected vendors and align internally between business, IT and procurement. A walk in the park so to speak ! 

As of today, most of those processes are done manually but the exponential growth of tech solutions is opening the doors to a new generation of AI based sourcing tools that will clearly help companies reach their tech sourcing excellence. 

 

 3 – Procure and implement efficiently 

The pace at which new tech solutions need to be assessed and implemented in order to remain efficient is another huge challenge for organizations. 

It often requires implementing a whole new level of flexibility and collaboration,  the right processes and tools and finding the right partners.

“The growth of the procurement tech industry is on an uphill trajectory given the wide scale adoption of technology along the supply chain.”

 Procureport – Why Procurement Tech Is the Hottest Space for Investors Right Now 

AI backed tools are among the hottest trends in procurement tech, as making the right tech decision requires more data and choices than a human can handle.

For Vendors

For Vendors, the evergrowing arrival of new solutions and increasing competitiveness of the market is also not an easy thing to handle, especially when growth rate is often considered as the main KPI to measure a software editor’s success. 

 

1 – Efficient nurturing to build positioning and top of mind 

How to stay visible and differentiate in this ocean of tech options ? How to capture decision makers’ attention when they are so saturated with information and requests ? 

Most IT choices are made, especially now when more Millennials are involved, before interacting with vendors. 

In order to be considered in those choices, vendors have to come up with a highly efficient and proactive nurturing strategy, including generating high value content, segmenting and personalizing this content for each type of persona (by industry, role, geography, etc…), and finally diffusing this content through efficient channels to make sure it actually reaches the right target. 

The key here, is to reach out to prospects that have not been identified yet. Investing in content to watch it bounce between contacts in your CRM, who already know your solution is rather inefficient. 

 

2 – Switching from a volume driven to a data driven prospection strategy

 

A common belief among tech vendors is the need to reach out to as many prospects, as often as possible to maintain visibility and grow their closing rate.

In a way, it does make sense. In order to close deals, you have to fuel your pipeline accordingly. Yes, but with the rising number of vendors on the market, and the eagerness of each of them to consistently reach out and nurture many prospects, we are reaching a tipping point. 

Chances are we’ll end up saturating and bothering decision makers with low value, generic  information, lacking compelling arguments or timing, and ending up with a rather negative perception.

 

Massive emailing and cold-calling campaigns will not provide strong commercial ROI anymore. 

Successful B2B tech companies are the ones investing in prospect intelligence. Identifying which stakeholder to reach out to, when, and with what personalized message.

In conclusion

The coming years will be a period of super high technology changes and adoption. The number of solutions to be assessed and acquired will explode and this will drastically impact both buyers and vendors. 

On both sides, current processes, methodologies and tools are quickly becoming outdated and will not live through this market growth. 

Data and AI will clearly become the new standard for both Sales and Procurement tech and a new generation of tools will arise. 

About Certainty

Certainty is the first AI driven platform dedicated to B2B tech solutions and services. 

Our mission is to use intelligence and algorithm to fulfill both Buyers and Vendors’ needs, in terms of informations, recommendations and interactions. 

Certainty provides 3 core modules : 

 

1 – The knowledge platform 

Helping vendors deliver high value content, news, events, etc to the right clients based on their specific needs. And helping clients getting proficient on their relevant tech ecosystem diffusing this innovation culture at all level of the organization 

 

2 – The sourcing platform 

Providing vendor recommendations to all tech users, allowing clients to access and browse through a complete catalog of vendors and solutions in order to identify the most relevant ones to their needs and profile. 

Providing prospect recommendations to vendors allowing them to focus their prospection efforts toward the right stakeholder at the right time 

 

3 – The procurement platform 

A digital, AI based RFP tool designed to guide both vendors and buyers throughout the entire transactional process, for both to seamlessly and quickly acquire / sell the right solutions to the right organization.

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