Snowflake, the renowned Data Cloud company, has just unveiled its groundbreaking “Modern Marketing Data Stack 2023” report. This comprehensive study delves into the strategies employed by forward-thinking marketers to harness, analyze, and activate data, ultimately aiming to amplify revenue.
Key Insights from Snowflake’s Research
The report, backed by Snowflake’s extensive data, showcases the top-tier solutions employed by its clientele. It provides a glimpse into how marketers are maximizing the Snowflake Data Cloud, complemented by 40+ partner solutions, many of which are “Powered by Snowflake”. The primary goal? To pinpoint, convert, and offer unparalleled experiences to their devoted customer base.
Drawing from a substantial sample size of around 8,100 customers as of April 2023, Snowflake has demystified ten pivotal technology categories that businesses prioritize when sculpting their marketing data stacks. This exhaustive research paints a vivid picture of how clients are adapting to an ever-evolving ecosystem. Notably, it underscores the merging realms of adtech and martech, the escalating significance of privacy-centric technologies, and the intensified emphasis marketers place on measuring to optimize campaign ROI.
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The report meticulously breaks down the following ten categories:
- Analytics & Data Capture
- Enrichment
- Identity & Onboarders
- Customer Data Activation
- Advertising Platforms
- Measurement & Attribution
- Integration & Modeling
- Business Intelligence
- AI & Machine Learning
- Privacy-Enhancing Technologies
A Word from Snowflake’s CMO
“Despite navigating macro-economic pressures and decreased budgets, it’s an exciting time for marketers given the pace of technology innovation and the forthcoming impact of AI and LLMs to disrupt, automate, and enhance the productivity of marketing teams,” expressed Denise Persson, Chief Marketing Officer at Snowflake. “Our Modern Marketing Data Stack report highlights the best tools and solutions available to marketers so that teams can supercharge their ability to execute and drive results.”
Noteworthy Findings
Snowflake’s deep dive into marketing trends revealed several intriguing insights:
- The trio leading in growth year-over-year includes Measurement & Attribution (29.2%), Customer Data Activation (27.6%), and Analytics & Data Capture (27.4%).
- There’s a notable uptick in marketers fortifying their modern marketing data stacks. Providers within the Modern Marketing Data Stack categories have witnessed a cumulative surge in clientele on the Snowflake Data Cloud, with growth rates spanning from the low teens to nearly 30% YoY.
- The adoption rate for tools or platforms on the Snowflake Data Cloud, specifically those powering AI & Machine Learning, has risen by 15.5% YoY. This indicates a budding interest among marketers in the transformative potential of large language models and generative AI.
- A staggering sevenfold increase in data clean room relationships was observed on Snowflake from April 4, 2022, to April 3, 2023, underscoring the mounting emphasis on privacy in the marketing realm.
