What the Hell Happened to the Tech Industry? — Juan Mendoza // The MarTech Weekly

Show Notes

• 02:00
  What is happening with the tech industry

  The tech industry is in a downturn right now with Salesforce recently laying off 10% of its staff and downsizing its annual expenditure. Salesforce is a pacesetter for the martech industry, and their troubles indicate that the tech industry may not yet be out of the downturn.
• 03:27
  Reasons for the downturn in the tech industry

  Now that interest rates have gone up, its harder for companies to raise money and acquire new companies. Additionally, many people are taking a break from their online lives after the pandemic.
• 06:07
  The shift toward responsible capital allocation in the tech industry

  Tech companies are focusing on sales, product-led growth, and customer retention. In general, companies are questioning the value of their investments in technology and the challenge for companies like Salesforce is convincing customers that their software is worth the investment.
• 08:23
  The impact of the downturn of the tech industry on marketing

  There is a shift in marketing towards capturing attention in physical spaces through out-of-home and digital out-of-home advertising. Ultimately, marketers are focusing on growth and conversions by qualifying leads, customers, and driving the right pipeline into their business.
• 10:04
  Marketing tactics likely to be successful in 2023

  There will likely be a return to fundamentals in marketing, such as CRM and marketing automation, to drive growth and get more value out of customers. Retail media is another area that is poised for growth due to the current privacy landscape.