Martech, yes, you have probably heard the acronym, but what does it really mean, and why is it so important to your business?
MARTECH STACK DEFINED
A marketing technology stack (also known as a martech stack) is a collection of integrated marketing technology solutions that help companies grow. For years, the word “stack” has been used in the technology world to describe how developers organize their numerous technologies and codebases. At some point, you’ve probably come across a “full-stack” developer.
A “stack” is now more widely employed as the number of tools available to marketers has expanded over the same number of years. A martech stack, like a product tech stack, is well integrated and works as a cohesive unit. We like to think of it as a digital ecosystem.
Marketers have traditionally used different tools in silos and in isolation from one another. This is problematic in many ways, from data duplication to lost time and effort! The strategic use of tools in a streamlined manner is one of the features of a forward-thinking marketing department. A martech stack, when implemented effectively, will boost sales and marketing operations while also automating numerous procedures. Your business operations will be set for tremendous growth if you implement an integrated analytics platform.
WHAT GOES IN A MARTECH STACK?
Every business’ martech stack is different, but there are a few core aspects that most will use in combination with additional tools from various departments. The following are some of the most common types of tools and technologies included in a standard martech stack.
For online business promotion, you’ll need a platform to run your website, blog, or other web-based product. CMSs are popular because they allow non-technical employees and teams to log in and make changes, upload content, and more.
Although the market is broad, marketers use advertising as a primary method of customer acquisition. Most businesses use SEM (search engine marketing), display ads, retargeting, and ad tracking or attribution software. Google AdWords, Bing Ads, and Facebook Power Editor are just a few examples of standard advertising tools you might want to include in your marketing technology stack.
Email marketing is the backbone of almost all marketing campaigns, and the proper tools can speed up the testing process, track returns more effectively, and drive success. Some businesses will use a simple email marketing platform that assists with design and includes some analytics, while others will need something more comprehensive. Email is sometimes included as part of a marketing automation or inbound marketing platform.
Marketing automation has virtually become a synonym for effective campaigns and businesses. Sales and marketing elements can be totally automated, saving both labor and time. From email marketing to responsive landing pages, A/B testing tools to reporting and analytics software, marketing automation comes in many shapes and sizes.
All businesses will have their social media channels set up and may use programs to automate them, like Hootsuite and Buffer. This is also an element of the martech stack. There are successful solutions for all elements of social media, whether it’s a simple platform for scheduling and automating, a relationship platform for increasing engagements, or an in-depth tool for analysis and channel performance monitoring. Social media sites like LinkedIn and Facebook are also important parts of the advertising landscape, with many offering paid advertising choices.
Customer Relationship Management (CRM)
A CRM can manage marketing attribution when supporting a direct salesforce, which is often an area of focus for B2B marketers. The CRM will keep track of all client interactions and can provide information on how marketing initiatives affect the sales pipeline and customer growth.
Google Analytics and other tools alike are the foundation of your stack. Analytics tools are essential for determining whether the bulk of your other tools are performing. They track and measure all of your sales and marketing operations so you can determine what works and what doesn’t.
SEO is a popular approach for increasing organic traffic to your website by ranking higher in search engines like Google, and it frequently works in tandem with content marketing. Numerous tools can assist with keyword research and other SEO-related tasks.
Your martech tools aren’t something you should think about in isolation; they’re a mix of all the tools contributing to overall marketing success and each component of marketing ROI. A successful martech stack requires a good balance, which is something you discover over time by experimenting with various technologies.
Once you begin integrating different technologies into your stack, you will experience a world of benefits; let’s discuss them.
BENEFITS OF A MARTECH STACK
More Efficient Marketing
Do more with less. This is what a strong martech stack allows a business to accomplish. With little or no work, a well-oiled marketing machine can sustainably generate clients. All you have to do now is make sure your martech stack is set up appropriately and that your campaigns are effective.
To prevent wasting time on administrative activities, get your tools to do the heavy lifting for you and then make sure they’re integrated. If your stack necessitates manual data migrations, you can usually hire a virtual assistant to help you or your team with this.
Deal with Data Better
The smooth flow of data between systems is the primary benefit of an integrated martech stack. Data should not be a source of anxiety for your team; instead, it should promote consumer engagement and internal efficiencies. By connecting with your customers in a personalized manner at the appropriate time in their customer journey, you can blow their minds.
When putting together your martech stacks, think about where data is collected and stored and what drives data migration between systems. We encourage establishing a Customer Data Platform if you have a lot of data being transferred between your product tech stack and your martech stack.
Better Customer Engagement
A Customer Relationship Management tool should be at the heart of every martech stack. This is your stack’s growth engine, and it should be pulling data from the other tools. Use this information to create a customer profile for each and every one of your customers.
- When do they interact with your business?
- How frequently do you communicate with them?
- What items did they purchase?
These questions seem pretty obvious, but they often go unanswered. A well-managed CRM will enable you to have a thorough understanding of your customers and successfully engage with them. To complement your martech stack and discover consumer touchpoints, we recommend creating a customer journey map. Personalization is essential in every communication, and data is the only way to achieve that. Create automation processes that are triggered by specific actions taken by customers as they progress through the customer journey map. Remember to spell their name correctly!
It’s time to track your stack once you’re sure the tools are correctly integrated and data is flowing smoothly. The addition of an analytics system to your stack is a critical component. This might reveal any data silos, deviations from your desired customer path, and marketing campaign improvements.
The benefit of a martech stack is the ability to provide managers and business owners with real-time information. Throw away your spreadsheets and notify your analyst that they are no longer responsible for creating marketing reports; they will be overjoyed! It can be managed if it can be measured. This holds true for your martech stack as well. There is always a way to get real-time data on your marketing activities.
You should now have a better idea of what a martech stack is. Now it’s up to you to put one together for your company or assess your current martech stack. As previously mentioned, there is no such thing as a one-size-fits-all martech stack. Your business and your consumers will benefit from a unique combination of tools and marketing automation.
Don’t be scared to switch up your tools and be adaptable in your approach. You don’t have to keep using a tool just because you’ve been using it for years. Our team at New Target can help you build and manage the right stack for your unique business. Contact us today!