Every week I make my way to the local Farmer’s Market or Boston Public Market to buy what I need from the collection of farmers who congregate to sell their meat and produce. To an unknowing eye, each of these farmers appears to have the same thing, but over the years I’ve come to know which farmers grow the best carrots, whose lettuce mix eliminates the frisse, and which farmers offer eggs that are cage-free and organic. I could probably do all my shopping at one stall, but why should I, when I can buy the best of each?
At the Martech conference in October, I was greeted by a marketer I hadn’t seen in a while, and minutes into the conversation he declared, “Two years from now the large number of companies on Scott Brinker’s landscape will shrink by 30 – 50%. Enterprise organizations want to buy from a single vendor, and we are going to see huge consolidation.”
We live in a world of best in class options, and nowhere is that more apparent than in MarTech. With over 8,000 products [in our database] to choose from, for anything from creating a logo to targeting your perfect customer, marketers have carte blanche to select the ones that best drive programs to meet their business objectives.
Over the past few months, CabinetM has been mining the stack data on our platform and mapping the products in use surrounding the different marketing automation vendors like Marketo, Hubspot and Pardot. In all cases, we are in awe, but not surprised, by the vast number of products that appear around these platforms, and the diversity of products that different marketers choose. In the case of Marketo alone, across 56 stacks, we saw 558 unique products.
The market is continuing to evolve, and over time we will likely see some consolidation in individual product categories. But we are adding 10 – 20 new products to our database each month, which means the treasure chest of options for marketers continues to grow.
Marketers, what do you see happening in your organizations? Single vendor, or best in class? Or hybrid?