David M. Raab was the one who coined the term MadTech in 2015, which stands for marketing, advertising, and technology. It well represents the current scenario of marketing and advertising technology intertwining itself with data.
Both MarTech (Marketing Technology) and AdTech (Advertising Technology) are already familiar terms in the industry and MadTech it the merger of both (MarketingADvertsingTECHnology). It is a conceptual approach of capturing relevant data and using it sensibly, enabling those responsible for marketing and media to gain a holistic overview of the interactions a consumer has with the brand.
The idea here is the "Single Customer View" (SCV), which means the focus on the user-centered approach. Linking data, reach and technology enables marketers to react to consumers in real time, because the integration of the features of AdTech and MarTech enables consumers to be identified across all channels and touchpoints.
Possible data sources are onsite data (behavioral data), CRM and offline data, RTB and programmatic data, e-commerce, and transaction data, as well as GDPR consent data. Together, all these data enable a better understanding of the consumer and thus facilitates the display of relevant, dynamic advertisements at the right time on the right device - based on user IDs and not on cookies.
Keep this in mind to be one step ahead of the competition and to increase your success, since it is more than ever necessary to react to technological changes and to develop a better understanding of the individual user. It is the only way to achieve the truly personalized and dialogue-oriented communication that your customers want.
MadTech is currently particularly relevant as technologies are quickly advancing and have allowed for significant innovations in online marketing and advertising.
The Convergence of MarTech and AdTech Is not a myth, but a reality, digitalkites states, which their table (below) proves:
MadTech is bridging the gaps between MarTech and Adtech, and the combination is the game-changer you need in today’s marketing and advertising world.