The term marketing technology aka Martech refers to technological tools used for varied marketing purposes, which range from advertising to social media management to SEO and marketing automation.
“As the world continues to rely on technology to make connections and bridge the gap between us, it’s more vital than ever to truly understand the tools and technologies available to you, especially if your company is considering making an investment.”Forbes
In simple words, tools and software used by marketers to create, execute and gauge various marketing campaigns are referred to as martech. The suite of tools, also known as martech stack, is used by brands to leverage their marketing process.
Benefits of Martech
Apart from saving time and automating processes, martech has several benefits, some of which are as follows:
A suite of tools functions as a single unit
One of the obvious benefits that martech brings to the table is the various marketing tools that integrate to function like a single cohesive unit, which makes managing several marketing channels easy.
Brand owners often had to lose money after lengthy marketing campaigns because the insights about the ongoing campaign arrived a little too late. Marketers and brand owners were forced to abandon marketing strategies due to the unavailability of a mechanism that could help them evaluate the effectiveness of a marketing campaign. With the birth of martech, brand owners found the right system that would provide valuable insights early on during a marketing campaign, that too in a cost-efficient way.
Data bank at fingertips
Marketers have access to a data bank that provides them valuable insights into their target audience. Not only can marketers devise strategies based on available data, but also pivot campaign strategies if required.
Every marketing activity has its complementary martech solution; however, they can be broadly classified based on the following marketing processes:
Content Management System (CMS)
From the company’s website to videos to blogs and landing pages, CMS is one of the primary martech solutions that businesses rely upon.
Lead management tools give companies an edge over their competitors because it helps marketers identify potential leads.
Social media management
Communicating over several social media channels gets easier with social media management tools. In addition to the above, the following martech solutions reflect various areas of marketing:
- Commerce and sales
How to use the term martech in sentences?
- Companies rely on martech to manage several marketing channels effortlessly.
- From providing insights about the target audience to automating processes, martech provides solutions that a modern marketer needs.