You might be wondering, what does martech mean and why is martech important? Well, martech stands for marketing technology. Marketing has changed over the years and martech has evolved with it. What was once a simple way to market your business has now become much more than that. You can’t just have a website anymore – you need a complete martech stack!
This post discusses all of the benefits of having such an extensive martech stack in place, as well as how to build one yourself. We’ll also go over some examples so you know exactly what we’re talking about!
What is a MarTech Stack?
A martech stack is a term that’s used to describe the combination of different tools, software and services that work together in order to create coherent marketing strategies or goals. For instance, your martech stack might include social media management platforms like Hootsuite or Buffer as well as analytics programs like Google Analytics – it all depends on what features you need!
You might be wondering why you need to have such an extensive martech stack in place when all you really want to do is market your product or service. The answer is simple – the goal of martech these days isn’t just about getting people’s attention and bringing them back for more, but also making sure they are happy with their experience!
Some examples include:
- CRM software
- Web analytics platform
- Lead Generation Software
The list goes on and on! But it doesn’t stop there – we’ll go over some other benefits next…
Benefits Of Having A MarTech Stack In Place
As mentioned above, martech has evolved over the years, and with that it’s benefits have as well.
These days martech is not just about marketing your business, it’s also about keeping people happy and coming back for more.
Improved Marketing Results
More than 60% of marketers report improved results when adding martech into their strategies. This includes budget savings through better optimization, fewer customer complaints due to automation and more opportunities in new channels like mobile devices or social media platforms.
Increased Reach And Engagement
The martech stack not only helps you market in new channels but also increases your reach and engagement.
Your content will reach an even wider audience if it’s shared on these other platforms it can increase engagement by up to 38%. You’ll also see increased conversions as people are drawn back again and again to your campaigns.
Martech software also makes it easier for businesses to track all of the leads coming from different sources – whether through an email campaign or social media post! The best part is that these tools usually come with built-in lead capture forms so people don’t even need to leave the page they’re on to provide their contact information.
Increased Efficiency
By using a martech stack, you’ll be able to spend less time on repetitive tasks and instead focus more of your energy on the parts of marketing that matter most! Martech can also automate certain tasks, which saves a lot of time and energy that would otherwise be spent doing something manually.
For example, marketing automation software allows you to set up different email types for different people based on what they’ve clicked in the past – so if someone has visited your website before but has not purchased anything yet, you might want to send them an offer via email! This takes out all of the guesswork when it comes down to personalizing your emails.
Improved Customer Experience
One important thing martech does is allow businesses to track customer behaviour over time and see how it changes depending on various factors such as viewing habits, the time of day, or even how many products they’ve purchased. This is great because it allows you to improve the user experience on your site or app so that they can find what they need quickly and easily.
Improved ROI
With the addition of a martech stack, companies are able to increase their conversion rates by up to 65%. With that number, there’s no reason why martech shouldn’t be a part of any marketing strategy today!
The benefits are clear when it comes to having a martech stack in place.
Strategy Before Technology
Now that you know what the benefits of martech are, it’s time to put together a plan for how your business will utilize these powerful tools. If you’re new to creating marketing strategies or have never done so before, then we can help!
Start with defining goals and objectives
Before anything else is considered – from budget planning to quality assurance – first figure out where your company wants their marketing efforts directed and why. For example: Do they want more qualified leads? Greater brand recognition? Increased customer loyalty rates among other consumers around them? This step is all about understanding who exactly your target audience is (as well as any competitors) in order to create an effective strategy for success.
Determine if martech could be used to help
Next, take time to think about whether or not martech could be utilized in any way. For example: Is there a software that can automatically send out leads as they’re generated (like lead generation tools)? Would it be useful for them if CRM software helped manage customer relationships over the phone and online? What happens when customers visit their website – are they provided with information from web analytics data points so that it’s easier to make decisions on what products/services would best suit them? The possibilities are endless!
Create an action plan for implementing your marketing strategy
Now you have all of these great ideas about how to improve your marketing strategy…but what do you do next? It depends on where you’re at right now. For example, if it’s a new startup then you can simply get started by following the steps below. If your company is already up-and-running and has some experience in this area, then they may want to take other routes like adding on martech software or creating an entirely new marketing strategy altogether (like focusing more energy on content creation).
What are some common features?
Martech comes with different special features depending on which one you choose! Some examples might include things like automated lead capture forms, segmentation/targeting options in order to reach specific audiences online, email templates for various occasions…you get the picture.
How do I determine if my company needs it?
Choosing the right martech tools for your business is a personal choice, but it’s important to know what these tools offer in order to make the best decision possible. The first step is determining if there are any gaps in how you currently use data that could be filled by martech – for example: Does your company manually send out leads as they’re generated? Do you want more qualified and loyal customers from around the world? If so then this type of software may prove valuable!
What does my budget need to look like before I start implementing martech into my strategy?
This answer can vary depending on which features or products within martech you choose – however, it’s smart not to go overboard when starting out with an initial investment that might overwhelm your current budget because you never know what kind of return you’ll be getting.
How To Build A MarTech Stack In Place
So now you have an idea about how a martech stack works, Great! Let’s go over some steps on building yours so you can get started as soon as possible…
Choose software tools based on your needs
Martech isn’t just limited to marketing anymore – there are different types of martech like CRM (customer relationship management), web analytics, lead generation software, etc. These options are all different, and you’ll want to choose the one that best suits your needs.
Choose martech tools based on what data you want
Martech is very good at collecting lots of customer information over time – so how do you decide which type of marketing technology stack will give you the right kind of data? Well, it depends! Do you need CRM software for managing things like contacts or leads? Maybe web analytics would be better if your business relies heavily on online traffic and sales cycles? Lead generation software may actually bring in more customers too…so think about exactly what kind of martech stack might work best for your company before moving forward!
Decide whether you want to build your martech stack or find a vendor
Martech is not cheap – so how do you decide whether to use a vendor or build your own? Well, it can depend on what type of martech tool you’re looking for. For example, CRM software and marketing automation are two types that may be more cost-effective when purchased as a product rather than building them yourself (but there’s no hard and fast rule).
Determine whether the software has any special features
Martech tools come with different special features depending on which one you choose! Some examples might include things like automated lead capture forms, segmentation/targeting options in order to reach specific audiences online, email templates for various occasions…you get the picture. It doesn’t hurt to think about what kind of martech stack your company needs before moving forward.
Choose the right martech tools for you
Martech can be a lot more complicated than some people realize, so it’s important that you take the time and choose software with features that make sense for your business! This way, you’ll have an easier time figuring out which software is best – whether or not it comes as a product from vendors or if they’re built by hand (or something else entirely!).
Start Building Your MarTech Stack Today
Martech has become one of the most powerful tools for companies looking to transform their businesses. If you haven’t yet explored martech or are unsure which software might be best for your needs – start with our list below! We’ve put together a few examples of some martech products we think would work well based on the kind of martech stack you may need:
Marketo
This martech tool can be used to develop marketing campaigns that are personalized in order to reach specific audiences – it also includes a number of other features such as email templates, analytics dashboards for tracking different customer data over time, etc.
Google Adwords Campaigns Manager
If you’re looking for more ways to market online (and take advantage of all the information martech offers), this might just be what you need! It gives businesses the ability to create advertising campaigns using keywords on Google.
HubSpot Marketing Automation
One way many companies use martech these days is by building automations to help them market more effectively. This martech tool offers marketing automation, website analytics and lead generation – it’s a great choice for companies with limited resources!
Salesforce
CRM technology is still used by many businesses today, so this martech suite has become very popular because of its ability to store large amounts of customer data over time (alongside other features like dashboards). Many people find it easier than building their own CRM from scratch too.
Qualaroo
Change your strategy on the fly using martech tools that prompt customers directly when they visit a certain page or see an ad…This way you can ask questions about how satisfied they are based on what you offer and determine if there’s anything you can do to improve your martech even more!
FullStory
Using martech like this is a great way to see what kinds of problems customers are having with the products or services that you offer. It’s also helpful in order to uncover why they might be leaving, so it helps avoid any future customer loss and save money on marketing campaigns down the line too!
Google Analytics
If you’re looking for martech tools that help with analytics, then this is a great option. It can store information like the number of people on your website over time and how they found it – but if your company needs more powerful martech software, HubSpot Marketing Automation might be what you need instead!
Integrating Your MarTech Stack
We’ve talked a lot about different martech tools and how they can help you grow your business, but it’s important to also take the time to integrate everything together. This will ensure that each piece of software is working in tandem with one another so that all of them are pulling their weight for you!
In Conclusion
Having a martech stack that works for you is one of the most important things to focus on if you want your business to grow. Luckily there are lots of different options out there, so choosing what’s right for your needs should be simple! Once you’ve narrowed it down and chosen which software might work best, choose how and when they’re going to integrate with each other too – this will help avoid any problems in the future. Remember though: don’t just take our word for it – make sure to test some products before signing up or making a purchase – you wouldn’t buy clothing without trying them on first!
