Nataliya Andreychuk is the CEO of Viseven. She is a leading digital transformation evangelist for the pharma and life sciences industries.
Do you remember the For Dummies books that were popular years ago? Were they incredible pieces of literature? Of course not, but they tried to make learning about a topic easier to help readers solve a problem without too much effort and ultimately understand something they were unfamiliar with before picking up the book.
As someone who’s been in the marketing technology industry for over a decade, I’ve met my fair share of people who try to use terminology without understanding its meaning. It may be challenging to learn the ever-evolving language, but it is important to always be on top of the latest fads and trendy words in your industry.
So, let’s talk about some of the terms we use in marketing technology, what they mean and, most importantly, how to uncomplicate them for your clients.
What Is Martech?
Marketing technology, also known as martech, is a term used to describe specialized software for solving digital marketing tasks. In other words, when talking about martech, we may assume some highly specialized solutions developed for a specific field, but essentially all the software solutions used by marketing will be in the marketing technology stack. That said, it is a separate issue for marketers to understand what precise solutions to use in their environment to reach better results.
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Why Care About The Difference Between Martech And Adtech?
It is important to understand the difference between martech and adtech (advertising technology) because the two fields are closely related. Martech software helps marketers create and manage original assets, communicate, and deliver offerings using email or apps to influence customer behavior. In contrast, adtech solutions are mainly designed to help advertisers deal with local and global digital advertising campaigns. Think of digital banners, ad exchanges, networks, services, and demand side and supply side platforms as classic adtech solutions that are very distinct from marketing technologies.
So, Why Do We Need Martech Solutions?
It’s already been a while since this term was introduced. Nowadays, just about every marketing team uses some software that helps with large-scale email campaigns or content management. Whether the team calls it their “martech stack” or not, we cannot deny that marketing relies heavily on solutions that cannot be removed from the production chain without causing dysfunction within the system. The perception of your tools as a joint stack and developing a clear perspective on how you can develop them is one of marketing executives’ primary tasks.
One of martech providers’ key tasks is ensuring their software works well with other third-party solutions within one stack. That’s why more and more we’re seeing the leading martech solution providers tend to strengthen collaboration between brands to ensure the compatibility and flexibility of their products. Yet one more benefit that martech providers get from such partnerships is the possibility to market their solutions via the partner’s channels, connecting directly with businesses that require it. Depending on who you try to reach, martech solutions and your stack, in general, can also be drastically different. B2B- and B2C-targeted stacks may include different software for different tasks. For instance, B2C businesses may invest more in lead management, email automation and data analysis. At the same time, B2B companies may pay more attention to SEO, content marketing and social media marketing tools.
What Are The Most Commonly Used Martech Solutions?
Email Marketing Tools
Email marketing is still considered one of the staples of communication with clients, so it would be fair to put this type in a separate category. Advanced email solutions help marketers increase client engagement and brand awareness and automate some processes. Such solutions allow users to create stunning, feature-rich AMP emails, tag and store large amounts of data and templates, and make informed decisions based on analytics driven by artificial intelligence and machine learning.
Content Management Systems
Understandably, the choice of CMS can dramatically affect a company’s global workflow. As the number and complexity of digital assets used daily grow, marketers frequently face the need for more sophisticated solutions to help them navigate complex environments. Nowadays, the market of specialized, industry-tailored CMSs is growing as businesses adapt to the ever-growing competition.
Customer Experience Software
This type of martech solution is predominantly designed to provide a better customer experience and collect all possibly relevant data about the customer journey to help understand customer behavior. This software helps target the customers at the right time and via the most relevant channel.
Customer Relationship Management Software
CRM software is a collaborative environment designed to provide the most intuitive, easy tools for communication and coordination within a single cohesive system. Ensure it features all the tools required for well-coordinated cooperation between marketers, sales, content managers, etc.
SEO, Analytics And Automation
There is a plethora of specialized tools that help marketers pick the right semantics and keywords, extract analytics on customer behavior, and even make viable predictions and automate several processes. This particular stack is probably a must-have for any marketing department, regardless of the field of application.
The Future Of Martech
Today, martech solutions are often underestimated and, on occasion, can be opposed and ignored when it comes to digital transformation. Many large brands may be reserved and, quite frankly, unwilling to move forward when digital marketers insist on a radical change. Since Covid-19 hit, many face-to-face marketing activities have been suspended, and new ways of communication have come about. It is important to seize this moment. The remarkable shift in the relationships between brands and customers breaks down the barriers when it comes to complex terminology and approaches. New communication is about the client and their understanding of your services. So my advice to marketers is not to overcomplicate things. Use tools and words that are easy to understand and apply.
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Author: Nataliya Andreychuk, Forbes Councils Member