The marketing solution marketplace used to be filled with vendors who had deep expertise in a specific discipline. Companies would often look to a provider who was a specialist in one thing. That one thing was all they did and they had been doing it for years and did it better than anyone else. This unfortunately led to companies having to managing dozens of vendors and all the integrations they required. Over time, this lead companies to start undertaking efforts to consolidate to the least amount of vendors possible. Individual Marketing vendors then tried to become all things to all people and starting offering services outside their core competency. Modeling vendors offered database platforms and platform vendors offered data processing services and so on.
As marketers looked to select a single product to perform all of their marketing needs, they had to look at the trade-off of having a “one size fits all” platform that did everything but excelled at nothing. Today marketers have the opportunity of going back to select vendors who specialize in a specific discipline and are the best at what they do but who also have prebuilt integrations with other best of breed technology solutions.
This hybrid approach allows companies to select a single vendor who provides a “best of breed” marketing platform from industry leading providers in a single solution. The vendor now manages all the technology integrations and provides the marketer with a single solution and a single point of contact. Marketers are now able to achieve the best of both worlds by limiting the number of vendors they manage while at the same time not having to sacrifice getting the best in class technology for everything they need to get their jobs done.
Download this survey for more information on how marketers are consolidating their vendor relationships.