What is a Marketing Technology Stack?
A marketing technology stack is a group of knowledge that dealers leverage to conduct and recover their marketing doings. Often, the emphasis of marketing technologies (aka “martech”) is to make complicated processes easier, measure the impact of marketing activities, and drive more efficient spending.
This is the marketing jargon that you will hear the most if you haven’t already. A marketing technology stack is precisely what it sounds like – it is a group of technology-based tools that marketers and businesses use to improve their marketing activities.
But it is more dynamic than simply using multiple tools individually for their sole purposes. Instead, marketing technologies are ‘stacked’ to make an integrated suite of tools that allow you to build seamless relationships with customers through several different channels.
The right martech will not only solve your processes, but you should also focus on the impact of your marketing activities and drive more efficient marketing spend.
Why Should you Invest in a Marketing Technology Stack?
- As I said before, martech space makes up thousands of online tools and technologies. The sheer number of vendors offering the latest and greatest marketing innovations is overwhelming.
- Just take a look at the newest edition of the ChiefMartech Marketing Landscape for 2019, with over 7,000 solutions to choose from. (For some perspective, ChiefMartech reported only 150 answers just eight years ago!).
- Simply put, martech space is colossal. And sellers are under pressure to keep up with growth.
- According to Korn Ferry, “27% of CMOs were concerned about staying ahead and taking advantage of digital technology trends.”
- With thousands of solutions to choose from, marketers and business owners need to understand how the right technology stack will affect their businesses and which technologies will be critical to achieving their goals.
What Elements Make A Great Marketing Technology Stack?
First, as with other areas of your marketing strategy, one size doesn’t fit all when it comes to building the right Martech stack for your business. Your chosen technologies will be affected by factors such as your budget and the type of business you have.
A key factor to reflect is your target market; For example, B2C companies will likely require slightly different technologies than a B2B company. Each of them often uses other channels and techniques to acquire and interact with their customers.
So let’s take an appearance at the technologies that I consider critical to a technology stack, regardless of your target customer.
1. Customer Relationship Management (CRM)
- This is often an approach for your B2B users. CRMs keep track of all customer relationships and marketing attribution for you and your sales force.
- Ultimately, CRMs are essential to gain deep insight into how your marketing efforts impact your sales pipeline.
2. Content Management System (CMS)
- By now, for the greatest of you, this is a staple of your tech stack you are familiar with.
- And also, a CMS is a technology that controls your website, blog, landing pages, etc.
- These web possessions are often where you want to engage your clients.
3. Advertising and SEO
- This element is quite broad, but search engine optimization and advertising are critical to your customer acquisition strategies, regardless of the type of business you run.
- Many marketers use software for keyword research, display ads, ad tracking, and attribution.
- This is still a profitable way to support sales, build brand awareness, and gain trust with your customer base.
- Email marketing capabilities may even be readily available on other platforms in your technology stack, like in your marketing automation or inbound marketing platform, for example.
5. Social Networks
- The technologies for this space help monitor your social conversations, schedule posts, or select happily.
- Same networks like Facebook and LinkedIn also offer paid advertising opportunities that can be a valuable addition to your technology stack.
- These are approximate of my favourite tools to enhance a tech stack. Collaboration software focuses on working professionally and transparently with your team.
- And also, some project management tools are to choose from or even devices that are more focused on the customer journey.
7. Analytics and Reporting
- Regardless of the technologies, you select to integrate into your technology stack. You should always be able to access your data to measure your marketing efforts.
- For the most part, businesses will have at least a basic analytical tracking of the website, which is a great way to start.
- But depending on your situation, you could travel building a complete data warehouse to bring together data from multiple systems to make your reports more accessible and comprehensive.
- And also, building the right marketing technology stack for any business isn’t easy. It can be quite a daunting task. But it’s about integrating the right technologies so that they work cooperatively rather than being independent.
- Not only will you get a complete and comprehensive view of your customer journey and their marketing efforts, but you’ll discover how to optimize your hard-earned marketing dollars.