If you were at the Hanes Mall in Winston-Salem, NC in 1991, you might remember seeing a blond haired, cross-eyed child staring at the TVs near a comic book kiosk across from Spencer’s Gifts. It was the original Superman movie, and I was cross-eyed partly due to the fact that I needed glasses to correct a stigmatism in my left eye, but also largely in part due to the fact that I was (unbeknownst to myself) watching my first 3-D movie. Without the 3-D glasses. And yet the fact that this movie was fuzzy, didn’t seem to phase me one bit. I kept coming back for more. Finally, the day came when the nerdy teenage kiosk worker handed me the red and blue 3-D glasses (how long had he waited for this moment? Weeks??) and the world suddenly shifted around me. The 8-year old cross-eyed comic book fan became a part of the Superman story. And it was better than TV. It was magic.
MadTech is the collision of AdTech and MarTech where technologies bring together desperate datasets and marketing channels once used in siloes to give brands a more holistic view of their customers and marketing efforts.
The main differences are directly tied the data and tech that is used for marketing and advertising purposes. Historically, they have been on the same side of the coin – so let’s break it down.
Ad technology refers to all technologies, software and services used for targeting anonymous audiences with online advertising, primarily through programmatic buying and selling.
On the other hand, the marketing technology ecosystem is built on customer data and comprised of a variety of tools that manage customer analytics, email marketing, site personalization, and marketing workflows. Marketing technology generally targets known audiences and existing customers and is largely dependent on CRM information.
MadTech provides a clearer picture of the consumer as it coordinates marketing efforts across channels and devices. AdTech alone is a lot like watching a 3-D version of Superman without the proper glasses – you can follow the plot, but it is lacking the artistry. it relies on click-through rates, frequency, and driving impressions and misses out on playing a deeper role within the customer’s journey. Marketing tech serves as our 3-D glasses. It is more artisanal, and we can push known data into systems that allow marketers to close the loop when it comes to measurement and attribution. With the two combined, everything comes into focus. Marketers now have access to a greater breadth of data about people and their shopping behaviors, ranging from what they are doing in and outside of retailer’s properties to interactions within email communications and offline purchases. Brands can now integrate CRM data into ad technologies and ad strategies are now being linked back to customer communication. In this Madtech world, prospecting, retention and reactivation strategies can all be connected and make better use of the data available (i.e. search intent, customer interactions, purchase information, shopper affinities, etc). The result is marketing that becomes more personable, more relatable, and more palatable to the consumer.
Sometimes in order to successfully find our heroes, we need to create a unified view of them. The result can be magical.
To learn more, check out our MediaPost column on Magnetic’s MadTech and see what Russell Ackner, Chief Marketing Officer of Swiss Watch International has to say about his challenges and successes with the “MadTech” mashup!
Magnetic is an artificial intelligence company that uses machine learning to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of over 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant audiences and profitable campaigns for our clients.