What is marketing technology and how do you use it?
By Indeed Editorial Team
Published 28 April 2022
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
In marketing, the principles rarely change, but the technologies are constantly evolving as the needs and expectations of businesses increase. Modern-day businesses depend on technology to manage daily business operations, secure customer information, monitor and augment sales and develop techniques to generate leads. Two in three chief marketing officers plan to spend more of their budgets on marketing software, but understanding this topic can also help you unlock its full potential. In this article, we explain marketing technology and discuss its merits, its various categories and how to incorporate it in a professional environment.
What is marketing technology?
Marketing technology (MarTech) is the general term for software packages and strategies for achieving marketing and sales goals. It refers to standard digital marketing tools, including search engine optimisation (SEO), customer relationship management (CRM) and content management systems (CMS). It involves incorporating technology in marketing and combines all the tools for your daily promotion endeavours. Whether you're marketing a technology company, food business, online training or sports exhibition, you use the same tools.
Every marketing team has a MarTech stack. This is a collection of the tools for developing marketing strategies for technology-based organisations. Having a marketing stack is important because no one technology solves all problems. Businesses use a collection of the best tools for marketing automation, accurate data collection and comprehensive market analysis.
How to choose marketing technology solutions
While the abundance of options may easily convince people to incorporate this concept, knowing how to choose automated solutions is still a challenge. There are various applications and thousands of marketing software packages available. While some are compatible with nearly every business type, others work best with specific business models. Choosing the best software can be easy with these steps:
1. Identify the significant challenges for your team
You can only know what solutions to use if you can identify your team's current challenges. To better understand your team's pain points, you can hold a meeting. Ask which areas of your daily operations you could upgrade. Discuss the importance of advanced technology for marketing. Since there are thousands of marketing automating tools to work with, identifying your pain points gives you an idea of traits to look for in the ideal MarTech solutions. Identifying your challenges is key to choosing a framework that uses technology in marketing to boost productivity.
Related: What is a marketing environment?
2. Inform your management and marketing crew
Typically, a company already has an IT infrastructure and marketing framework before deciding to incorporate these software packages. A successful combination of existing technologies and incoming tools requires compatibility between both parties. That's why consulting with your in-house marketing and IT teams is important. Those who understand marketing in IT can help you determine the best ways to adopt these tools seamlessly.
Some of the best technologies used in marketing are expensive, which is why it helps to have a budget before purchasing them. Getting the essential tools may involve a meeting with management. You might talk to the individuals or groups who are responsible for funding. Plan a budget and search for marketing solutions within its limits.
3. Check for compatibility with your business model
While having thousands of marketing solutions to choose from is great, it can also make selecting ideal solutions tricky. To avoid purchasing irrelevant options, vet the tools to make sure that they're particularly compatible with IT services marketing processes. After identifying the ideal solutions for your business model, you can ask for a series of demos.
It's important to test any product before deciding to purchase it. While some technologies work well during the initial demonstration, you may discover inconsistencies later. Ask the technology company for a period when you can test the tools virtually before using them in a real-life scenario. The best software packages integrate seamlessly with related existing technologies. Ensure that the incoming devices are compatible with the current MarTech stack.
4. Seek significant proof of success
Before securing a MarTech brand, you may want to ensure that it can meet expectations. You can request relevant data and realistic integrations of the technology to prove the efficacy of its applications. Only proceed with the acquisition if you're happy with the data. Checking the software provider's website for authentic customer reviews, especially from customers running similar business models, can offer reassurance.
Incorporating marketing technology in a professional environment
When integrating MarTech, there's a solution for virtually any problem. Knowing what this technology means and its advantages can develop your interest in its application. Understanding how it works may encourage a business to incorporate it and reap the benefits. Here are examples of MarTech and its application in a professional environment:
The first step towards gaining customers is to attract them to the business. The level of competition every company faces and how incorporating IT marketing is important when finding the best tools for attracting leads to the business. The top MarTech tools for lead attraction are social media marketing and search engine optimisation (SEO).
Lead conversion and nurturing
In real life, companies only form a partnership or relationship with some of the people or businesses that attract them. Similarly, only some of the leads that a business attracts become loyal customers straight away. After gaining a lead's attention, it takes effort and focus to turn visitors into paying and loyal customers. This is where automated solutions can help the business convert leads. These tools include content management systems, landing pages, automation and online advertising.
Customer relationship management and support
Customers are loyal to businesses that they believe support their interests. This shows why customer support is vital to longevity and profitability. MarTech helps to nurture the relationship between a business and its customers. At this stage, the software can collect customers' data as they interact in real-time, store it safely and display it in simple graphical representations. Using customer relationship management or customer support tools can help the business know the customers' pain points better, understand their purchasing habits and provide more customer-centric services.
Data collection and analysis
When overseeing a team of employees or interacting with customers, collecting data is important. Data collection applies to both customers and staff. From employment information to the execution of tasks, these sets of data help managers find better ways of encouraging employee productivity. A data collection framework can help you collect data accurately, record them in real-time and organise them properly. A well-documented and organised set of data can make analysing information easy.
A successful marketing campaign is a collaborative effort. Sometimes, the marketing and sales units may work together to help the company achieve its goals. Managing projects is more straightforward with effective communication. These software packages provide solutions with various project management and team collaboration platforms, enabling project managers to interact with every team member from virtually any location in the world. From scheduling meetings to allotting assignments, these tools enhance workplace collaboration and productivity.
Benefits of MarTech
Here are the benefits of MarTech and how you can obtain them:
Improved interdepartmental communication
While MarTech focuses on current and prospective customers, it can also support in-house personnel, helping to enhance communication and interaction between employees across various departments. It relates to sales enablement, establishing a common interest between the sales team and the marketing unit. It encourages constant communication and collaboration between both departments. These teams are likely to establish cohesion and form strategies to generate leads and improve sales.
Developing marketing strategies with limited solutions can be challenging. One of the best attributes of MarTech is the availability of thousands of solutions for various marketing needs. With over 9,500 solutions available (and even more in the development phase), there's an abundance of options when using it. It highlights the role of technology in marketing and the significance of marketing in technology.
Customer relationship management helps companies build, grow and develop their relationship with clients, and MarTech makes this process easier. CRM allows a company to automate business proceedings, keep accurate customer and interaction data and better understand customer behaviour. For instance, when customers interact with a business through electronic means by signing up, logging in, downloading a file or making a phone call, the company receives this information in its timeline. With enough data, businesses can discover which messages or links get the most clicks, views or responses. A better understanding of customers can help companies provide personalised services for them.
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