Tell us a little bit about your role and how you got here. (what inspired you to start a martech company) We didn’t set out to start a martech company but my career went full circle. I started out as a marketing director for a B2B publication focused on Latino entrepreneurs, Hispanic Business. There I learned about how important Latino, African-American, and Asian entrepreneurs in the U.S. are to our economy. After several years on the marketing side of things, I transferred to the market research side of marketing at a company, Garcia Research, where I became VP of Online Research after building what became the first nationally representative Hispanic online panel in the industry. This led to the company being acquired after two years of launching the panel and at that time my business partner and I decided to not go along with the acquisition and start ThinkNow.
MarTech companies have been focusing on incorporating datasets outside of traditional marketing data to create a more robust identity of a target consumer. With the rapid evolution of MarTech this past year with blockchain, AI and machine learning—what’s next? 2018 has been an exponential year of evolution for MarTech. Blockchain, AI, and machine learning have enabled MarTech to process and make sense of more data than ever before. On a high level, MarTech companies have been focusing on incorporating datasets outside of traditional marketing data to create a more robust identification of a target consumer from web, call centers, point of sale, social, television, and print.
You’ve seen the data. The demographics show more dots on the map and purchasing power is tipping the scale. Your company, however, is still struggling to get a real multicultural marketing strategy off the ground. But, you’re not alone.
MarTech has traditionally focused on the execution of marketing and advertising campaigns. Whether it is DSPs, DMPs, content marketing, acquisition, etc., MarTech stacks concentrate on the implementation of marketing campaigns. However, as MarTech data becomes more diverse, there is an opportunity to help on the front-end of marketing campaigns—through segmentation and persona building—enabling marketing strategists to create more holistic pictures of their target consumers and ultimately increase marketing ROI on the backend. What is segmentation and persona building?