This article is tailored for forward-thinking companies and marketers. Alongside other pieces in the Marketing Technology series, it endeavors to acquaint you and your business with a suite of tools crafted to optimize and revolutionize your marketing processes.
These tools are engineered to elevate performance, boost conversion rates, and streamline your workflow, ultimately saving you precious time.
1- What is Marketing Technology?
Illustrated through a simple example:
Let’s say your company has set a goal to convert a new lead into a customer using Email Marketing.
The plan involves, after a customer signs up as a lead, setting up a sequence of welcoming emails and progressively sending offers in a specific order. Ultimately, the aim is for the customer to read the emails, find them interesting, and make a purchase.
To make this happen, you’d need a Marketing Technology Tool to schedule emails in a designed flow.
This example represents just one type of tool; in addition to this, there are numerous other tools utilizing technology to assist you in various tasks.
The Concept:
Marketing Technology, or MarTech, is the digital toolbox that marketers use to simplify and amplify their tasks. It encompasses all the tools and technologies that facilitate reaching customers, analyzing data, and executing campaigns.
In simpler terms, MarTech is the superhero sidekick for modern marketers, making their jobs more seamless and successful.
2- Why do we need Marketing Technology?
Marketing Technology helps a business and its marketing department optimize all activities, scale up, and bring in more revenue. Here are the benefits that Marketing Technology can bring to your business:
Benefit 1 – Expand Customer Base
Optimizing Customer Acquisition and Remarketing operations helps marketers maximize the potential of customer sources, expanding into new marketing channels.
Benefit 2 – Data Management and Customer Relations
“Know your customer” is crucial. Customer Relationship Management (CRM) tools help you manage and grasp customer information. You can leverage customer data for various purposes.
Benefit 3 – Measurement and Decision Making
Individual tools assist in measuring website (landing page) and mobile app performance. Identify business or product issues and use them as a foundation to develop strategies.
Benefit 4 – Better Customer Engagement
As illustrated in section 1, you need to interact with customers to retain them. This can be achieved by interacting with customers through omni-channels (Emails, Banners, SMS…). You can even set up an automated and personalized communication process for each customer.
Benefit 5 – Process Automation and Management
Project management tools help automate tasks and projects. Consequently, leaders or project managers gain better control and simplify processes.
Benefit 6 – Content and Social Media Management
For companies with numerous marketing channels and social media profiles, using Content Management Systems (CMS) and Social Media Management tools is crucial to managing everything in one place.
Benefit 7 – Automated Reporting
Data and data visualization tools automate the reporting process. Marketing teams, in particular, and the entire business, in general, will no longer encounter any difficulties in the monthly reporting process.
3- Marketing Technology Stack
Definition of Marketing Technology Stack
Each of the mentioned benefits represents the primary function of a specific group of tools. The collective groups form what we call a Marketing Technology Stack.
Think of a Marketing Technology Stack as a team of superheroes. Each member (tool) has its unique power, but when they work together, they become an unstoppable force. The Marketing Technology Stack is a collection of tools that marketers use to plan, execute, and analyze their strategies.
Categories of MarTech Tools
In the MarTech toolbox, there are various tools, each serving a specific purpose. Some manage customer relationships, others analyze data, handle social media, send emails, and manage content. It’s like having a Swiss Army knife for marketing tasks, where each tool has its job.
Integration
Just as superheroes need to communicate and collaborate, MarTech tools need to integrate. When they do, the marketing strategy becomes smooth and powerful. Integration ensures that these tools work seamlessly together, creating a unified approach to marketing.
4- Learn how I leverage Marketing Technology Stack for my business
This is the introductory article for a series introducing the Marketing Technology Stack that my team has implemented for our business.
Amidst the multitude of MarTech tools out there, it’s easy to feel overwhelmed. However, I’ll specifically name the tools that I am currently using and finding satisfactory. This will help you understand the usefulness of each tool and motivate you to apply them to your business.
If you are searching for ideas about MarTech Stack, continue reading this series with the same title on Nemo Marketing!
