Discover the latest marketing trends and insights in Snowflake’s “Modern Marketing Data Stack 2023” report. Unleash the power of data to supercharge your marketing strategies and boost revenue.
Snowflake (NYSE: SNOW) has unveiled its latest report titled “Modern Marketing Data Stack 2023: Redefining Strategies for Unifying, Analyzing, and Activating Data to Drive Revenue.” This comprehensive report, backed by data, delves into the cutting-edge solutions employed by Snowflake’s clientele. It sheds light on how marketers are harnessing the Snowflake Data Cloud in conjunction with over 40 partner solutions that are Powered by Snowflake. These tools empower marketers to discern, convert, and provide distinctive experiences to their loyal customer base.
Drawing insights from a dataset of around 8,100 customers as of April 2023, Snowflake has pinpointed ten key technology categories that organizations consider when constructing their marketing data stacks. This research serves as a reflection of how customers are embracing solutions from a rapidly evolving ecosystem. It highlights the convergence of advertising technology (adtech) and marketing technology (martech), the growing significance of privacy-centric technologies, and the intensified emphasis placed by marketers on measurement for optimizing return on investment in their campaigns.
The report elaborates on the following ten categories:
- Analytics & Data Capture
- Data Enrichment
- Identity & Onboarders
- Customer Data Activation
- Advertising Platforms
- Measurement & Attribution
- Integration & Modeling
- Business Intelligence
- Artificial Intelligence (AI) & Machine Learning
- Privacy-Enhancing Technologies
Denise Persson, Chief Marketing Officer at Snowflake, expressed, “Despite contending with macroeconomic pressures and shrinking budgets, this is an exhilarating period for marketers. The rapid pace of technological innovation and the imminent impact of AI and Large Language Models (LLMs) promise to revolutionize, automate, and elevate the efficiency of marketing teams. Our Modern Marketing Data Stack report spotlights the top tools and solutions available to marketers, empowering teams to optimize their execution and achieve results.”
Snowflake’s analysis of marketing trends focuses on customers who engage with leading companies across the ten aforementioned categories. Key findings from this analysis include:
- The three categories with the highest year-over-year growth in terms of the number of customers are Measurement & Attribution (29.2% growth), Customer Data Activation (27.6% growth), and Analytics & Data Capture (27.4% growth).
- Providers listed in the Modern Marketing Data Stack categories have collectively witnessed a year-over-year increase in customers on the Snowflake Data Cloud, ranging from low double-digits to nearly 30%.
- Customer adoption of AI & Machine Learning tools or platforms in the Snowflake Data Cloud has risen by 15.5% year-over-year as marketers explore the potential impact of large language models and generative AI on their operations.
- Privacy has become a focal point for marketers, with the number of data clean room relationships on Snowflake increasing up to sevenfold between April 4, 2022, and April 3, 2023.
Snowflake’s “Modern Marketing Data Stack 2023” report not only offers a comprehensive overview of the evolving landscape of marketing data technology but also provides valuable insights for marketers navigating the complex and dynamic world of data-driven strategies. As the industry continues to grapple with economic challenges and shifting consumer preferences, this report serves as a guiding light, showcasing the best tools and solutions available to empower marketing teams to adapt, innovate, and drive exceptional results. The remarkable growth in categories like Measurement & Attribution, Customer Data Activation, and Analytics & Data Capture underscores the industry’s commitment to staying ahead of the curve. With privacy and AI on the forefront, marketers can harness the power of Snowflake’s Data Cloud to not only meet customer expectations but exceed them, ushering in a new era of data-driven marketing excellence.
For the complete report and details regarding the methodology, please refer to the following link.