MarTech: People tend to have a lot of questions about it. What’s the point? What makes it so good, and why is it crucial for businesses to implement it now? Why would you ever consider working with a Martech consultancy?
MarTech tools are a phrase that organizations and marketers need to be aware of as they become more and more significant.
Although the use of technology in marketing is not new, SMBs have dramatically increased their usage of MarTech platforms in recent years to enhance their efforts.
This year, 70% of North American companies increased their marketing budgets by at least 6%, while the MarTech sector grew by 20% in only one year, from 2020 to 2021 in Europe and the UK.
In other words, businesses all over the world are spending more on marketing each year, and a sizable chunk of that money is going toward marketing technology, particularly digital tools and platforms.
However, in order to get the most out of that investment, businesses need to spend their money in the right places, on the right tech, and then ensure that everyone knows how to use it. Which can be a tall order, unless you get help (preferably in the form of an expert Martech consultancy)
Simply put, competitiveness is the reason so many organizations are investing in marketing technologies. Others worry about falling behind and view investment as an opportunity as top organizations begin to see returns from implementing MarTech solutions.
Over half of marketers (56%) believe that the MarTech sector is developing more quickly than their companies’ use of marketing technology. The popularity and use of MarTech systems, particularly those that provide automation for campaigns and data analysis, among other advantages, have increased as a result.
In contrast to the marketing team (or any other team, for that matter) being segregated and missing out on crucial information they could be using in their campaigns, there is a growing desire among organizations to upgrade their old systems and implement MarTech platforms that can be used company-wide.
Big data’s widespread use in organizations of all sizes has presented both benefits and challenges, especially in the field of digital MarTech.
More data equals more knowledge about customers and prospects, which increases the number of opportunities. This enables companies that have adopted MarTech to gather, examine, and then exploit the massive amounts of data that are at their disposal.
Modern MarTech solutions are also frequently compatible with systems in other departments, enabling marketers to unify and access data across the entire organization that was previously unreachable, enhancing productivity.
Concerning difficulties, SMBs now need to make a point of protecting the data of their customers and clients in order to prevent disaster in the event that they fall victim to a cyberattack.
The ability of enterprises to provide a more individualized approach than they were able to before is essential to the use of this data. The more information you have, the easier it will be to target your campaigns across all of your channels towards particular, segmented groups.
The more effectively you can target your efforts and understand your prospects (and customers), the more leads you’ll convert. The proper use of the right Martech solutions will make this level of personalization not just possible but game changingly effective.
Utilizing cutting-edge marketing technology can help you get new insights and applications for your data, improve customer experiences, and make it simpler and more effective to follow prospects as they enter your system.
Without the most recent marketing technology, you can be overlooking crucial knowledge or skills that could significantly impact your ability to convert more leads into customers and expand your organization.
All of this sounds great of course, until you start looking at the marketing technology solutions out there and realize that there are a huge number of them to choose between. Then things start to get complicated and confusing.
Working with an experienced MarTech consultancy like the Pearl Lemon Consultants team cuts through that confusion.
One of the things that our Martech consultancy team members are most often asked to do is help clients build an effective MarTech stack.
An interconnected web of marketing technology tools is referred to as a MarTech stack, which is a group of MarTech systems that work together to enhance marketing operations.
Your stack will likely be determined by the unique goals of your company or brand. This makes it possible for you to customize processes based on the distinctive behaviors of your consumers and increases the likelihood that you will see a larger return on your investment.
With the help of a complete MarTech stack, you can draw in, interact with, understand, and convert customers. It covers all the elements to ensure that you’re interacting with the appropriate audience at the appropriate point in the sales funnel.
You may be wondering at this point which technologies are included in a MarTech stack. Let’s look at a few of the most popular solutions used by SMBs today.
Whether it’s a basic blog or an enterprise business site, firms manage their website pages using a CMS. Since the best CMSs are created to be simple to use, marketers who aren’t programmers can utilize them effectively with little to no HTML understanding.
But a defined content strategy is absent from 63% of firms, according to Marketing Profs and the CMI. Investing in a CMS is crucial to running and maintaining those plans as far as your content output is concerned, as content marketing in particular is becoming a key component of the marketing strategies of many firms.
Email is still a vital and important component of marketing plans and MarTech stacks, despite the rise of other digital marketing fields. For example, did you know that 73% of millennials prefer email communications from companies over any other form of contact?
In today’s marketing landscape, data analysis and email automation make for a potent duo that enables companies to automatically send out highly-targeted messages that boost conversion and retention rates.
Today’s general inbound marketing solutions frequently include email marketing platforms as part of the package.
Digital ad campaign management is referred to as AdTech, a subset of MarTech.
With the help of these tools, marketers can deliver relevant advertising to the audiences they want to reach, track interaction and clicks on those ads to determine how successful their campaigns were, and then use that data to guide their subsequent efforts.
About 55% of the total market for digital ads is made up of Google and Facebook ads.
By focusing on which ads worked and which didn’t, you can further optimize your ad budget and place your advertising in front of customers who are most likely to convert by using a platform that can track data.
Technology that assists in managing social media platforms is essential because social media is such a crucial component of customer involvement for many a modern business.
Social media channels are helpful for your content strategy, but they are also a key resource for prospects and customers looking for customer service or other information.
Using a MarTech solution to measure your social media engagement allows you to discover which content performs the best across your platforms and provides insight into the efficiency of your user interactions.
Naturally, social media is a crucial platform for advertising, so being able to track the effectiveness of specific campaigns you’re running through LinkedIn, Google, or Facebook paid ads is also helpful.
MarTech solutions that assist firms with their SEO are essential components of a good Martech stack too.
Search engines are the starting point of 68% of online activities. In light of the growing reliance of consumers on the internet to locate vendors, SEO tools help businesses choose the optimal approach for ranking their content on search engines.
Businesses need a solution that enables them to compete in search rankings if they want to be competitive, when traditional advertising has witnessed such a dramatic fall in comparison to digital advertising.
CRMs, another type of MarTech software, are popular among B2B companies because they help synchronize marketing and sales. With the aid of a CRM, your sales representatives and marketers may maintain relationships with clients and guide prospects through the sales process.
Only 12% of firms were using cloud-based CRM in 2008; by 2021, this number had risen to 87%.
Stakeholders are often given access to all the information they require, including a customer’s past interactions with you, unfulfilled orders, customer care concerns, and even information like their social media activity regarding you and your competitors, on a single dashboard.
A more simplified approach for employees that boosts productivity and happiness also makes it easier to build and maintain better connections. Utilizing a mobile CRM increased productivity for 50% of teams.
The emphasis on building systems that support these approaches will—and already has—become increasingly prominent as organizations transfer more of their marketing to digital rather than traditional methods.
Businesses commonly wonder what MarTech equipment they need and why MarTech will help them achieve their unique goals as these deployments become an increasingly significant part of marketing activities.
This is even more true when you consider how crucial data is to guiding campaigns and plans; the capacity of MarTech solutions to gather and analyze data is crucial.
As investments in digital marketing continue to increase, more companies will likely build out their MarTech stacks in the future. And the chances are good that your business will need to as well. But you’ll need to do so effectively.
As a leading MarTech consultancy Pearl Lemon Consultants works with businesses of all sizes to ensure that any and all investments they make in MarTech offer the best possible ROI and ‘do’ all the things that you are hoping they will.
Working with us as your MarTech consultancy means getting a bespoke, made for you service. Rather than making run of the mill recommendations we’ll take the time to get to know your business, its current and future marketing plans and the state and scope of any current MarTech you have in place right now.
Only when we have this understanding will we get to work determining the MarTech you should be adding to your MarTech stack. From there we will help you purchase and implement it – including help secure buy-ins from stakeholders if needed – and ensure that everyone who needs it also receives the expert training needed to make the most of your MarTech investments.
Ready to learn more about how working with a MarTech consultancy will help your business? Contact us today to learn more.
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