What is marketing technology? It might sound complex, but consider this: If you use Google Analytics to track performance on your website or send emails through a platform like MailChimp, you're already using MarTech. As digital marketing efforts have grown, so have the platforms to manage it. Marketing technology are the digital tools that can help you automate processes, aggregate data, and reach your customers online more effectively and efficiently.
The MarTech landscape is full of options. The above image shows all the vendor and platform options available as of 2017. It can be overwhelming at first, but these platforms and technology help to better connect the dots between marketing and operations and allows for smarter strategies.
MarTech puts a priority on system integration, a.k.a., MarTech Stacks
Marketing Technology doesn’t work if the platforms can’t talk to one another or automate processes. By creating a MarTech Stack (a collection and categorization of Marketing Technology products that are used) companies are able to see how integrated all of their platforms and systems are and how enhanced the customer experience can become when everything begins to communicate.
MarTech Looks at the Whole Customer Journey
Integrating platforms and systems allows marketers to look at customer data holistically, from the first touchpoint to the last. It helps us understand where we need improvement, lets us look factually at what is working and allows us to optimizely quickly and effectively.
Example of MarTech integration:
- How did the customer find you? Media placement, organic search? Is your company using programmatic placement, search engine tools? These would fall in your MarTech Stack.
- What was their first direct interaction with your brand? Website visit, phone call, social media engagement? All of these can be tracked using tools to help see what drives customers to engage and what method they prefer.
- How do you help customers convert? Remarketing media buys, marketing automation, cart abandonment strategies. All of these use tools that need to integrate with your website or other sales platforms to create messaging specific to where the customer is in their journey.
- How do you help increase your conversions? Are you running conversion rate optimizaton campaigns, upselling, showing related items? The logic and tools behind these would fall in your MarTech stack.
- How do you build loyalty from customers? What messaging can be automated through drip campaigns, scheduled social media posts, loyalty emails, etc.
- How do you add personalization to your messaging? Does your website or media placement use dynamic content or incorporate customer data?
- How do you look to see what is working? What reporting tools do you use - dashboards, attribution models, business intelligence? How do you incorporate all the platforms listed above? MarTech works to get the data talking to allow you to make more educated business decisions.
By integrating platforms and data across all phases of the customer journey, MarTech allows us to create smarter strategies built around what is working and finding ways to increase personalization (right message at the right time) for customers. MarTech platforms allow us to place media more strategically, create more tailored messaging, and see what elements are performing best.
It Unites the Marketing and Operations Worlds
Marketing Technology requires the participation and collaboration between marketing and operation departments. Finally, those selling brand promises and those executing on those brand promises are integrally working together and looking at the same data to help make decisions and determine what efforts are working and where opportunities lie.
MarTech Lets You Market Smarter.
MarTech allows teams to look at process and automate areas where it makes sense to become more efficient, streamline data, and ultimately allow companies to adopt things faster and scale marketing efforts. You get to spend more time looking strategically at what is happening and make quick changes which can greatly impact your bottom line—in a great way!
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