MarTech Industry Grows to 7,040

MarTech Growth Rate chart courtesy of Scott Brinker and Chief Martech
MarTech growth rate chart courtesy of Scott Brinker and Chief Martech

Scott Brinker published his 2019 Chief Martech eye chart and it now spans 7,040 companies, up 211 since last year.  While the industry continues to grow, the rate of growth appears to have moderated.  Between 2014 and 2018, the industry was adding over 1,000 companies each year with the biggest jump for the 2018 chart (1,800).  

The super-graphic is available to the public and may be reprinted at up to 1600 x 900.  Brinker has also made a spreadsheet available.

“That’s not so much a slowing down as a flattening out, a plateau,” said Brinker.  “At face value, it would seem that, indeed, we have achieved ‘peak martech.’ (pause for dramatic effect)”

While industry growth may have plateaued, Brinker admitted that 7,040 significantly underestimates the total number of Martech firms and joked that he may have hit “peak martech landscape.”  Brinker noted five areas where his chart is underweighted:

  • Regionally – When comparing to national MarTech landscapes, Brinker spotted hundreds of companies on the UK, Canadian, Chinese, German, Swedish, and Finnish country charts that were absent on the 2019 Chief Martech chart.
  • Vertical – Likewise, verticalized solutions are also underrepresented.
  • Apps built for specific MarTech platform ecosystems
  • Apps built by services companies (but packaged as products)
  • Apps built with low-code/no-code citizen developer platforms

“Each of these trends — the growth of platform ecosystems, the blending of software and services businesses, and the rise of citizen developer platforms — are birthing whole new galaxies of martech apps.

The major marketing suites have all embraced becoming true marketing platforms, with ever more open APIs and official marketplaces for third-party apps.”

Brinker lists Salesforce, Oracle, Adobe, Microsoft, and G Suite amongst the platform ecosystems, but one would also include browser extensions, mobile apps, and sales engagement platforms (technically, SalesTech, but there is a fair amount of overlap between MarTech and SalesTech these days) to the list.  Brinker noted that WordPress has 54,480 plugins.

Audience / Marketing Data & Data Enhancement (2018 MarTech Landscape)
Audience / Marketing Data & Data Enhancement (2018 MarTech Landscape)

Many of the DaaS and Sales Intelligence vendors covered in this newsletter are amongst the 204 vendors listed in the Audience / Marketing Data & Data Enrichment category and the 457 vendors listed in the Sales Automation Enablement & Intelligence grouping.

Oceanos for Salesforce (Beta)

Oceanos ListOptimizer supports quarterly batch updates to account, contact, and lead records.
Oceanos ListOptimizer supports quarterly batch updates to account, contact, and lead records.

Contact data management vendor Oceanos is working with Datarista to bring an SFDC-based contact service to the market.  The Oceanos ListOptimizer service, currently in in beta, will be generally available in Q1.  Sales Operations can run counts, perform company and contact searches, and ensure ongoing data integrity.

The service supports standard company and contact list building with running counts as variables are selected.  New execs may be added as lead records or accounts and contacts.  Duplicate checking is performed.

Batch Salesforce updates are performed quarterly.  In 2018, the updates will run every other month with contact changes updated weekly.

Oceanos offers best-in-class contact records from over a dozen vendors.  When records are deployed to customers, they are subject to real-time reverification against FreshAddress, FullContact, and Pipl.

Contact management services are purchased on a credit basis with custom pricing plans based upon volume and intended usage.

In other news, Oceanos recently inked a deal to deliver its ContactAPI to The Big Willow intent data platform. “Targeting prospects before the market even knows they exist provides our customers a first mover advantage,” said Big Willow CEO Charlie Tarzian.  “With the Oceanos ContactAPI, we provide our users targeted contacts for intent-qualified opportunities that accelerates engagement.  With 15 years in the space, they’ve earned a stellar reputation and we’re thrilled to take this next step in our partnership.”

Along with connectors and APIs, Oceanos offers free data health checks and a team of data consultants to assist with data hygiene and analytics initiatives.

Data Quality in 2018

NetProspex WorkBench Value Proposition
D&B Optimizer (FKA Workbench) Value Proposition

 

As we are one month away from the new year, it is a good time to think about budgeting for data quality in 2018.

I know it isn’t glamorous, but that doesn’t mean it is unnecessary.

Data Quality software is markedly improved over the past few years.  No longer is it necessary to download and forward a file to a vendor and wait for them to process your marketing file.  Sales and Marketing Operations can now setup automated cloud cleansing that works within Marketo, Eloqua, Salesforce, Microsoft Dynamics, and other enterprise applications.  B2B vendors to consider include Dun & Bradstreet, InsideView, Zoominfo, and ReachForce.

These platforms perform both initial batch match & append and ongoing enrichment, ensuring that your sales and marketing files have both accurate and complete data.  These services also support company and contact prospecting, data health reports, suppression lists, and segmentation reporting.  A few even offer free data quality reports, deduplication, technographic enrichment, nixie files (defunct companies and departed exec files), web form support, sales intelligence services, and contact verification and standardization (e.g. address, phone, and email) for non-matched records.

As these services reside in the cloud and offer cloud connectors for the major MAPs and CRMs, the operational overhead is minimal allowing operations to focus on ABM look-a-likes, segmentation, and improved targeting instead of file management.

What’s more, data quality improvements benefit sales, marketing, and downstream systems.  A record cleansed and verified as it is created costs much less than a bad record passed down to other enterprise platforms.  Beyond direct cost reduction (storing bad data, marketing to departed execs, sales calls to abandoned voicemails, reduced time keying and updating records manually), there are improvements to segmentation, targeting, lead scoring, lead routing, and messaging.

So budget for data quality in 2018.  It isn’t glamorous, but it is effective.

The ReachForce Contact Enrichment Summary Report.
The ReachForce Contact Enrichment Summary Report.

DueDil: New Chairman, Expanded Coverage

DueDil Group Graph for Spotify
DueDil Group Graph for Spotify

DueDil, which provides financial research and sales intelligence services for the UK and Europe, named Alan Millard as its Chairman.  Millard is a consultant for the Table Group and has worked with CEOs and executives at IBM, JP Morgan, Deutsche Bank, Standard Chartered Bank, SABmiller, and GSK.  Previously, Millard was the COO at Hiscox UK and CEO of its subsidiary Hiscox Underwriting.

“Alan is helping us transition from a founder led team to an executive led organization,” said DueDil founder and CEO Damian Kimmelman.  “He brings with him the eye of the customer which is so critical as we scale. I am honoured to have him on board guiding our global ambitions.”

DueDil recently expanded its database beyond the UK and Ireland to provide company coverage of France, Germany, Benelux, and the Nordics.  However, they are already talking about a true global dataset to rival Dun & Bradstreet and Bureau van Dijk.  By the end of the year, they expect to offer pan-European coverage and begin to extend their reach to additional global markets.  Thus, their database will grow from 11 million companies at the beginning of the year to 40 million companies in March and 100 million by the end of the year.  Their goal is to be the “largest source of private company information in the world,” said COO Justin Fitzpatrick.

“A more open business world is essential to global growth and prosperity. DueDil is already the largest and richest source of private company information in the U.K., and one of the largest in Europe. We are on an incredible journey to cover over 200 million companies globally by the end of 2018. I am excited to be part of a company that genuinely improves the business landscape and encourages growth and trade,” said Millard.

“Our mission at DueDil is to create the largest source of private company information to help businesses to find opportunity and mitigate risk,” stated DueDil CRO Pierre Berlin at DueDil’s recent Spotlight user conference.  “We help businesses in the digital transformation.  Leveraging it by transforming the business relationship with the key stakeholder in the organization.  Our value proposition at DueDil is to make your business more agile [and] resilient, by providing access to the richest information on the company that matters to you.”

According to Fitzpatrick, DueDil will accomplish their mission via superior data, new insight, and automation.

Along with expanded geographic coverage, DueDil is extending its Know Your Customer (KYC) checks to include beneficial ownership, UK Financial Conduct Authority (FCA) registration data, and adverse media coverage.  According to the FCA, it “regulates and supervises the conduct of more than 50,000 firms in the UK that provide financial products and services to both UK and international customers.”

In March, DueDil also announced an upgraded API that supports a host of functions including opportunity identification, risk mitigation, auto-populating sign up forms, data enrichment, and verifying credentials during customer onboarding.

The API also supports a new partnership with consumer information vendor CallCredit.  The partners “will offer an integrated solution for verifying a business and the people who run it,” said DueDil Product Marketing Manager Sam Hockley.  Initially the consumer information will only be available via the DueDil API.

Coincidentally, Dun & Bradstreet announced a Beneficial Ownership product a few weeks ago.

Market Insights News

Market Insights Newsletter (January 22, 2017)
Market Insights Newsletter (January 22, 2017)

One of the services I provide to vendors is a weekly newsletter called Market Insights which covers the Sales Intelligence, Data as a Service (DaaS), Data Hygiene, and Predictive Analytics markets.  I’ve been writing it since mid-2012 and continue to expand my coverage of Sales and Marketing Intelligence.

Year one, I had four clients, all located in the United States.  Three were in the Sales Intelligence space and one was in Data Hygiene so my focus was on those segments plus DaaS, a key delivery channel.  But predictive analytics was beginning to compete with the SI firms so I folded it into my coverage in 2013.

By 2015, Account Based Marketing and Account Based Sales Development were hot topics so they joined my topic list.  I was also covering many more sales intelligence companies outside of the United States.  On the DaaS side, Marketing Automation Platform and Chrome Connectors have become much more prominent in my coverage.  I’ve also added coverage of intent vendors and sales engagement platforms.

And interest in my little newsletter has grown to over two dozen paid clients including firms in the UK, France, Israel, Germany, and India.  This list now includes content vendors that market their databases to the sales intelligence, hygiene, and predictive analytics vendors.

What I’m most proud of is that eight of the top nine sales intelligence vendors in North America are now newsletter clients along with three of the top four UK vendors.

Please contact me If you are interested in a free trial subscription to Market Insights.