Marketing is an indispensable part of business, or of profitable business. The old days of marketing were limited to banner ads, events, door to door, word of mouth, television advertisement, and radio advertisement. Modern day technologies and internet have completely transformed marketing. Nowadays, marketing is a vast term that encompasses both the “old days’” and todays’ techniques. Marketers must possess a strong understanding of their industry and customers, as well the capability to think out of the box and use the tools and technologies of the trade.
MarTech has become a buzzword, which is a term used to identify tools and technologies used for marketing. Here are examples of MarTech,, why marketers use and should continue using MarTech, and how it is used to make a marketing approach more efficient.
MarTech – A combination of Marketing and technologies
MarTech could be any technology or software that helps a marketer plan, execute, analyze, and optimize marketing campaigns to efficiently achieve previously set marketing goals. MarTech applications automate and streamline a marketer’s day-to-day activities.
MarTech simplifies –
- Planning and execution of marketing campaigns;
- Collection and analysis of the results of marketing campaigns;
- Measurement, tracking, and analysis of the market campaign’s performance;
- Implementation of the insights in future campaigns.
Key MarTech Categories
|1||Content Marketing Tools||Content Management system, Search engine optimization, Landing Page and A/B testing, Content Curation Tools, Content marketing platforms, Digital Asset management, Lead magnets||WordPress, HubSpot, Drupal, Moz, Ubersuggest, Yoast SEO, Coveo, Unbounce, Wix, Instapage, Scoop.It, BuzzSumo, HubSpot, Marketo, Adobe Experience Manager, Bynder, OptinMonster, Sumo, Bloom, etc.|
|2||Rich Media Tools||Video making tools, Video Marketing platforms, Podcasting tools and apps, Graphic design tools, Interactive content||Biteable, DaVinci Resolve, Wistia, YouTube, Vimeo,IBM Cloud Video, iTunes, Google Podcasts, Canva, Pixlr, Adobe Creative Cloud, SnapApp, Prezi, etc.|
|3||Social Media Tools||Social Media management tools, Social Media Monitoring tools, Influencer Marketing platforms||Hootsuite, Google Alerts, Upfluence, Brand24, etc.|
|4||Marketing Automation Platforms & Tools||Marketing Automation software, Email Marketing Tools, Mobile Marketing platforms||Hubspot, CleverTap, Marketo, Salesforce, Marketing Cloud, MailChimp, etc.|
|5||Advertising Platforms and Tools||Search engine marketing, Social Media advertising, Native advertising, Programmatic advertising||Google Adwords, Bing, Qwaya, SmartyAds, Taboola, etc.|
|5||Sales Enablement Tools||Sales Automation Platform, Customer Support tools, Customer relationship management||Zoho, Zendesk, HubSpot, Salesforce, Outreach, etc.|
|6||Data and Analytics Platforms||Data management platforms, Customer Data platforms, Web analytics, Tag management, Predictive analytics||Adobe Audience Manager, Google Analytics, Kissmetrics, Evergage, Google Tag Manager, Aviso, etc.|
How to use and deploy Martech in business process
There are more than 5,000 MarTech products catering to different industries, meeting marketers’ challenges, and reaching different areas of marketing. Selection of relevant MarTech depends upon need and complexity of the technology. For instance, WordPress is a MarTech solution that meets the needs of a blog or CMS website.
Businesses need to have a clear, centralized vision and marketing plan/goals before adopting a MarTech product. Otherwise, the business might accidentally adopt multiple technologies with similar or overlapping features. For instance, one department is using Mailchimp for email marketing and another one is using Marketo, adding to avoidable business expenses.
Finding the quintessential MarTech solution for each organization completely depends on each one’s business model, size, resources, business goals, and requirements. Also, keep in mind that your marketing goals will change as you meet and surpass each one, so you need a tool that will allow for this growth.
Arrange your MarTech Tools to bring efficiency
The collection of all marketing tools and technologies is called MarTech Stack. To reach your marketing goals, it is vital that all of your MarTech tools integrate or meet at different stages of the marketing funnel. An organized MarTech Stack leads to –
- Marketers conveniently integrating and sharing relevant marketing data to create meaningful reports easily.
- Marketers easily selecting the most relevant apps or tools for their requirements, boosting efficiency.
- Less downtime since some of these tools can assist in interdepartmental sharing. All of the above equal better efficiency, which we all know is equal to more revenue.
How to make a perfect MarTech stack
- Marketers may get confused as to which Martech tools should be used as they have loads of choices available to them. To build a MarTech Stack that can bring the desired result, you should take a look at your marketing process and funnel. Here are few key points and questions that can help create an effective MarTech Stack:
Understand your business model: What is the product or service? Are you a B2B or B2C business, Business sector? Is there a natural sales cycle, Pricing model?
- Understand each and every stage of your marketing funnel. How do you process these steps in marketing funnel –awareness, interest, purchase, consideration, post purchase evaluation, and repurchase?
- What is your marketing approach? How do you collect customer data? How do you create customer personas? How do you communicate with your customers? What are your strategies for content distribution across multiple platforms? How do you identify and nurture the leads? How you track your campaign’s performance, and how you get and use insights from reports?
A lot goes into making MarTech decisions, but remember that this investment will propel your business toward your preset marketing goals and desired revenue.
Conceptualization of MarTech Stack
Now, start making a list of MarTech tools that you require to create a market funnel that suits your business model and goals.
You need to understand that every business has its own unique requirements and thus they need a unique MarTech Stack, however there are a few tools and technologies that you can expect to add or consider adding to your MarTech Stack:
- Content Management system
- Email marketing tool
- Social media platforms
- Automation software
- Analytic tools
- Conversion tools
- CRM tools
- Customer service
Take one step more to become a leader
You know now what MarTech and a MarTech Stack are, why you should adopt these two into your marketing approach, and how you could implement these. No matter what solutions you go with, there are a set of traits that you must own or be willing to develop to become an expert in MarTech:-
- Ability to think critically and creatively. You must be creative in approaching people, showcasing your products, and so on.
- Be ready to take calculated risk. As every approach is based on set goals, you should have the ability to take risks to determine the most effective marketing strategy.
- MarTech always bring new changes and updates, so you must be willing to learn.
- Longevity to gain experience. You should have in-depth knowledge of at least one marketing area and know how to make a great marketing strategy.
The Parting words
Becoming an expert in Marketing Technologies is not easy; it requires a lot of research, creativity, out-of-box thinking, marketing expertise, as well as a little bit of technical knowledge. Look, you’ve just added to your knowledge by reading about the umbrella term MarTech and the unlimited opportunities it unlocks for marketers.