MarTech is more than just a trending buzzword amongst CMOs and CIOs. Whether this red-hot term has you panicked or your eyes rolling, MarTech is improving marketing efforts exponentially.
In a nutshell, MarTech helps companies better personalise marketing, understand customers, automate processes, and optimise efforts.
What is MarTech?
Marketing as a discipline has fundamentally changed. Where in the past, companies focused on a one-way push of their marketing message to the masses, today’s consumers now demand a new relationship with brands. This relationship, powered by technology, delivers a thoughtful, seamless, personalised customer experience and enables a two-way dialogue between customers and companies.
In response to these new demands, marketing technology solutions have exploded in popularity (over 5,000 marketing technologies and no signs of slowing down) and marketing teams have provisioned marketing stacks and marketing “clouds” to make digital marketing activities more effective and efficient.
These technologies also produce large streams of behavioural data that allow marketers to adopt agile practices through testing, measurement, and optimisation of their digital marketing programs.
Simply put, MarTech is the technology that enables marketing in this digital world.
Benefits of MarTech for Your Team
MarTech can help your marketing department become increasingly efficient and effective. Instead of wasting time on manual analysis and compilation of siloed data, your team can focus on other efforts, like that next campaign! Other benefits include:
- Increased operational efficiencies and workflows
- Improved marketing performance
- Automated data gathering, customer profiling, targeting and analysis
- Improved measurement of marketing effectiveness
- Improved customer experiences through increased relevancy and personalization
Examples of Marketing Technology
Customer Relationship Manager (CRM) – CRM software helps you build better customer relationships. Salesforce, Nimble, and KarmaCRM are some examples. Each application organises, automates, and synchronises sales, customer service and support and marketing campaigns.
Data Management Platform (DMP) – Also known as a Data Warehouse, this is where you store your data. Like a digital card, catalog is to a library, data management platforms organize information and store it so that marketers, publishers and advertisers can apply it. Adobe, Krux and Aggregate Knowledge are examples of DMPs.
Marketing Automation – Marketing Automation is a software suite that coordinates marketing efforts across multiple channels. Marketing automation suites involve email marketing, online forms, analytics, and the execution of repeatable tasks. Some options are Infusionsoft, Marketo or Pardot.
An Account-Based Marketing Platform (ABM) – ABM platforms allow B2B marketers to monitor engagement between best-fit contacts, and use analytics to evaluate targeted advertising and adjust messages.
A Content Management System (CMS) – A CMS hosts your company website’s content. WordPress is one of the most popular, and others include Joomla and Drupal. There are a number of solutions available, and developing a custom CMS is common as well.
What is a MarTech Stack?
A MarTech stack is the combination of marketing technology solutions that manage different digital marketing channels or tactics a company may use. These individual tools are sometimes called “point solutions.” Most companies’ stack consists of at least a few point solutions, but some companies use 10 or more solutions. The tools in the stack are typically integrated - that is, connected to each other.
An alternative to point solutions that are connected through integrations is an all-in-one “marketing cloud” (AKA a hub, or suite) that combines multiple MarTech solutions into a single platform or suite of tools.
The decision of which solutions to use is driven by many factors - for example, the size of the business, whether it is B2C or B2B, and a company’s particular approach to digital marketing may all play a role. This results in MarTech stacks that are unique to each company - there is no one size fits all approach!
Optimising Your MarTech Stack
No, MarTech isn’t new, and most organisations are already using many of these technologies. But few have fully optimised or integrated everything into a unit that works together. An existing CRM and marketing automation system, for example, is a common starting point, and even that for many companies requires hiring a specialist to help. The human kind.
Bringing in specialists to review, utilise and maximise the return of your MarTech is a smart way to make sure you get the most out of the technologies you choose to manage your marketing efforts. These skills are often found in great candidates for Digital Marketing Manager, Digital Analyst and a Marketing Technology Manager roles, so you if your marketing technology is not in ship shape, you’ll likely need someone with those skill sets to make it work.
Making MarTech More Team-Friendly
Many people in marketing thrive because of their creativity. They realise data and emerging technologies are important but are better suited for things like planning and creating new campaigns. Adopting new technology tends to bog down the process and can be intimidating.
MarTech lets marketers have more time for creativity. Automating tasks that previously absorbed valuable time and resources frees up more energy and availability for originality.
To make technology more accessible to your marketing department, provide training on MarTech that emphasises its impact on working smarter, not harder. Not only will marketers have more time to create high-value content, MarTech will help distribute it to a much wider audience.
Consider hiring a marketing technologist to bridge the gap between the technology and your marketing talent. A marketing technologist focuses on the selection and integration of the various MarTech software so your marketing professionals can concentrate on building brand awareness and developing strategy.
At Aquent, we match companies with the right talent. We can help you find professionals that determine the best digital marketing strategies, and are experienced in analysing data. We connect businesses to talent that manage MarTech, and work closely with clients to understand their business needs and find the perfect match. Contact us today to request talent or browse jobs.