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How this guide raises your game
1. Learn about the four major groupings of marketing technology
2. Understand where Customer Relationship Management (CRM) fits in your marketing plan
3. How to define your marketing technology requirements
The amount of marketing technology (martech) services which can support marketing has grown dramatically in the last 10 years.
This means anyone who works in marketing faces the challenge to make themselves more technologically savvy. So, they can understand how marketing technology will help deliver their business objectives.
In the past, marketers and IT teams worked together only rarely. This might have been the marketer forgot a password or needed a new laptop.
But now in many businesses marketers and IT teams work hand in hand on a daily basis. They use marketing technology to improve the customer experience and improve the efficiency and effectiveness of the marketing plan.
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Marketing technology from a marketing point of view
There are three basic business objectives that apply to all marketing activity.
Firstly, you want to understand your consumers and their needs as well as you possibly can.
Secondly, you want to create your brand identity and deliver your marketing plan and brand activation to that audience.
And lastly, you want to be able to deliver that in a way that generates increasing sales and profits.
Marketing technology can support you to deliver against all three of these objectives.
Marketing technology for consumer insight
And while these techniques are still in very common use, they are no longer the only option when it comes to learning more about your consumers.
With internet penetration at over 85% in developed countries, and the average Australian spending over five and half hours online every day, the online world has become a rich source of information about consumers.
Because as consumers spend more time online and interact with websites and technology platforms, so they generate more data.
In this guide, we’ll cover the types of technology that capture this data about consumers. You can read more about how to use that data in our separate digital data and insight guide.
Marketing technology for brand identity and marketing plans
So, if online is where consumers increasingly spend their time, then online is where marketers want to make their brands come to life.
With the increasing capability of systems like advertising technology, website platforms, CRM software and other marketing automation tools, brand owners have many more options to how, when and where consumers can interact with their brand online.
And rather than the traditional “push” model of advertising, there’s now many more options to create more of a “pull” model. This is where the consumer has more choice in what they see or interact with online. So brands need to design experiences that meet the customer needs and so “pull” them in. Rather than messages that they “push” out whether they mean anything to the consumer or not.
Marketing technology to drive sales and profit
The increase in capability that comes with marketing technology has also had a significant effect on companies business model and financial set-up.
This capability lets you be more targeted and personalised in how digital brand activations lands. It lets you set up large scale opportunities to drive marketing spend efficiency.
Marketing technology can help drive more sales from the same level of investment by being much more precise. Or it can reduce costs by identifying and eliminating non-effective brand activation.
Marketing technology also has a benefit when it comes to cost of operations, since many tasks can be automated, reducing the need for actual people to do repetitive and administrative tasks. This is particularity true when it comes to e-Commerce technology systems. It is possible to set up a whole end-to-end online store and delivery service, with only access to a computer and an internet provider. We know, because we’ve done exactly that.
Marketing technology from an Information technology point of view.
Marketing technology tools are designed to make life simpler for marketers to market. They look at specific tasks within the overall marketing plan or customer experience. And they use technology to remove as much manual intervention as possible in these tasks.
They automate difficult, time-consuming and repetitive manual tasks. So performance reporting for example in a monthly dashboard can be set up to automatically pull and update data from multiple sources at the touch of a button. Where previously, an analyst would have had to visit multiple sources of data and collate them into a report.
Marketing technology also helps brand operate in real-time and adjust and optimise their brand activation in direct response to customer actions. Most digital media channels now work on a programmatic basis, where AI and machine learning systems ‘learn’ what is likely to work and prescribe the best way to invest media spend.
And in terms of the customer’s interaction with the brand, these interactions can be set-up to take the customer though a pre-planned journey or conversation, so that they feel they have received a personalised experience. Even though there has been very little ‘human’ interaction on the part of the brand owner.
Before we go on to define how marketing teams can get the best out of marketing technology, it’s worth looking more closely at how the landscape has grown and what the options are.
The marketing technology landscape
Ten years ago, there were less than 100 marketing technology suppliers. Now the number of suppliers to chose from is over 7,000.
The Martech annual landscape survey identifies 39 groups of technology solutions for marketing.
We believe these 39 groups can be further grouped into these four key areas.
One to one interactions with the customer
- Email Marketing
- Customer Relationship Marketing (CRM)
- Identity Management
- Community and Reviews
- Customer Service
- Feedback and Chat
- Advocacy, Loyalty & Referrals
- Lead Management
- Interactive content
- Mobile apps
- Call analytics and Management
- Audience / Market Data
- Data enhancement programs
- Marketing Analytics, Performance and Attribution
- Mobile and Web Analytics
- Dashboards and Data Visualisation
- Business / customer intelligence and data science
- Predictive Analytics
- Tag Management
- Customer Data Platforms
Media and advertising
- Events, meetings and webinars
- Social Media Marketing & Monitoring
- Mobile marketing
- Display and programmatic
- Search & Social Advertising
- Native / content advertising
- Video advertising / marketing
- Content Marketing
Enabling and optimising systems
- AI and Machine Learning
- CMS and Web Experience
- Marketing Automation
- Digital Asset Management
- Asset Approval Systems
- Optimisation, Personalisation and Testing
- Cloud/data integration,