Approximately 40% of the global population, over 2.96 billion people, consider themselves gamers. The video game industry is booming and is expected to be worth $321 billion by 2026. Video games are no longer just marketed to kids; in fact, 80% of Gen Z play video games. The video game industry holds a large amount of influence and opportunities as it continues to evolve and expand with the advent of newer technology.
Media companies are looking at newer technologies for in-game advertising to capitalize on the video game industry’s massive revenue potential and loyalty of a captive audience. With the power of real-time insights, brands can deliver personalized content for existing customers and push timely offers and info to attract new ones. Martech stacks are the solution for most enterprises and are a combination of legacy software, on-prem solutions, and cloud-based SaaS offerings. This combination could include up to 91 tools to find, sort, analyze and leverage consumer data. A wide variety of tools and potential combinations come with various challenges for enterprises trying to implement their martech plan.
There are over 8000 vendors in the martech ecosystem, and enterprises have driven themselves into a corner by adopting single-use tools to achieve a specific goal, leaving them with a lack of integration between applications and a lack of a big-picture view of their martech plan. Leading enterprises, however, are solving such challenges by embracing martech transformations, reducing complexity, streamlining operations, and inspiring innovation. A strong martech transformation vendor is critical to delivering rich, personalized marketing experiences that connect and convert.
What are the key indicators in choosing a martech transformation vendor that can empower your enterprise and bring optimal business outcomes? What are the key challenges while trying to implement Martech stacks as part of your martech transformation? This article by Virtusa’s martech experts answers these questions and more about our martech transformation for the media industry.