"In 2015, analyst David Raab coined the term "madtech" to denote the need to combine martech with adtech because, in his words, "Consumers don't make a distinction between marketing and advertising interactions. And to meet their expectations, neither can marketers." You know the adage that every year a dog lives is equivalent to roughly seven human years? Well, in the digital age I think one year equates to roughly 10 years to reflect how fast things change."
"Challenge: There was a time where there were only 30 cable channels, and in a typical metropolitan area just one or two newspapers, a couple of magazines and a favorite radio station fighting for consumers' attention. Nowadays, there are more options than ever. This fragmentation of attention was exacerbated during the Covid-19 lockdown last year. As one example, in Q1 2020, Twitter saw the average total of monetizable daily active users increase 23% from the previous year."
Madtech combines martech and adtech because consumers do not distinguish marketing from advertising interactions, requiring unified strategies. Rapid digital change compresses industry evolution, making past solutions quickly obsolete. Fragmentation underpins persistent challenges across multiple dimensions. One dimension, consumer attention, has splintered across many channels and accelerated during Covid-19, increasing social platform usage and complicating media allocation. Another dimension, marketing departments, is characterized by siloed teams with separate financials and KPIs that risk inconsistent messaging across touchpoints. Marketers must understand audiences deeply and apply precise measurement to allocate media spend and demonstrate ROI.
Read at The Drum
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