Why your Business Should Invest in Marketing Technology
Why your Business Should Invest in Marketing Technology? The term “Martech is becoming an increasingly important term for businesses and marketers to be aware of. Although the use of technology for marketing is not new, the adoption of MarTech platforms by SMBs to improve their marketing campaigns has become increasingly rampant in recent years.
From 2018 to 2019, the MarTech industry experienced a massive increase of 20% and in the recent statistics, over 70% of businesses in North America have increased their marketing budgets by at least 6% to suit the recent Marketing Technology trends.
What is Marketing Technology?
The term “MarTech“ which is a short form of the term “Marketing Technology“ is a term that describes the usage of Marketing Technology tools and technologies that marketers use to inform, plan and execute their campaigns.
The Marketing Technology Stack
The tools given below are required for a complete business campaign using MarTech. Let‘s take a look at some of them.
Content Marketing System (CMS)
A CMS is what businesses use to manage their web pages. People are attracted by colors and pictures but are retained by value. This system can be used for both simple blogs and an enterprise business site.
CMS is one of the most important Marketing technology tools to use in 2021, they require no knowledge of HTML and can be used by business people who can‘t code.
Email Marketing Platform
The Email marketing platform is one of the core digital marketing technology required for businesses in 2021. 73% of Millennials prefer communications from businesses to come via Email, therefore, Email is the best platform to launch your campaigns and get high conversion.
Advertising Technology is a form of MarTech that refers to the management of digital campaigns.
It allows advertisers to serve targeted ads to the preferable audience, measure the success of such campaigns through engagements and clicks and dictate the direction of future campaigns.
Social Media Management
Social media is the most important MarTech tool. It‘s a must-have tool in 2021, Measuring your engagement on social media with a MarTech solution gives you an opportunity to see which content trends best across your platforms as well as gives you an insight into how effective your interactions are with users.
In addition, social media helps you see how successful particular campaigns are that you are running through Linkedin, Facebook paid ads or Google.
Search Engine Optimising
SEO is another very important consideration to make in 2021 and MarTech solutions that help them with their SEO are very vital.
About 68% of online experiences begin with the use of a search engine. Having a high SEO ranking in your business traditional marketing will go a long way in giving you the best results in your campaigns.
Businesses must have a solution that allows them to compete in search rankings to remain competitive.
Customer Relationship Management
In 2008, only 12% of businesses used cloud-based CRM; by 2020 this had increased to 87%. MarTech software like CRM is very useful to align marketing and sales and is most commonly used by B2B businesses.
A CRM allows marketers and sales representatives to have access to all their customer data needed to manage relationships and help prospects down the funnel.
Why Do Businesses Invest So Much in Martech?
The use of MarTech for campaigns is increasingly important. Given below is why.
The Fear Of Being Left Behind
One of the major reasons why so many businesses are investing so much in marketing technology is because of the existence of competition. No one wants to be left behind. More than half of marketers (56%) think the MarTech is evolving faster than their companies‘ use of marketing technology.
All About Data
A lot of challenges and opportunities come with the existence of so much data. The more businesses increase, the more the data they possess increases. The data of the customers under their possession needs to be protected in order to avoid catastrophe should they become victims of cyberattacks.
MarTech gives businesses a remedy to the problem of analyzing, aggregating, and putting such vast quantities of data into use.
Offering a Personal Approach
The possession of vast data gives you an opportunity to have a real personal approach to advertising campaigns. The more data you have, the more information you have to be able to target your campaigns at specific, segmented groups across all your platforms.
The best way to do business with ease in the present day is to take advantage of Marketing Technology.