What is Marketing Technology (Martech)?

TAP CXM
20 Jan 2022

As the capabilities of technology improve, so too do the possibilities for marketing professionals. Martech, or marketing technology, has completely transformed the potential of digital marketing campaigns over recent years, and the opportunities it presents are growing more profitable by the day.

If you’re interested in finding out how to make the most of every interaction, start by exploring marketing technology. Read on to learn more about how it works, and why it’s so important in the current climate.

What is Marketing Technology and Why is it Important?

Marketing technology is a term used to refer to any type of technology which can be deployed as part of a digital marketing campaign. Typically, these include a wide variety of different tools and software, all of which work in unison to give marketing professionals a clearer picture of how customers feel about a brand. Marketing technology can be used to optimise a huge variety of different campaigns, enhancing everything from basic talking points to highly complex digital communications.

It’s important for a number of reasons. Primarily, martech is used to improve the capabilities of marketing teams. It automates processes, freeing up time for marketing professionals to get more done. This automation also tends to mean real improvements from a customer perspective, and there are therefore significant gains to be made where customer experience is concerned too.

Marketing technology makes it possible to personalise interactions, and it provides the tools that teams need to record and analyse data in incredible amounts of detail. That data can then be put to good use through other martech tools, helping companies to channel their findings into new insights designed to inform future strategies.

Examples of Marketing Technology

Cutting edge marketing technology comes in a range of forms. Here are just a few of the most commonly used types of marketing technology:

Customer Relationship Management System
Otherwise known as CRM systems, customer relationship management systems unify processes and enable teams to streamline what they’re doing. They can be used to manage interactions with new and existing customers, giving teams the information they need to be able to improve the customer experience that they offer.

Content Management System
Digital marketing campaigns go hand in hand with digital content, but the more content a brand produces, the trickier it can be to keep track of. Content management systems simplify the content side of digital campaigns, enabling marketers to create, modify and measure the success of their digital content with ease.

Customer Experience Software
Top companies are constantly on the hunt for new ways to improve the customer experience, which is why software now exists purely for this purpose. Customer experience software records and measures customer feedback, giving teams a clear idea of how customers feel about a brand, and what they can do to make things better. Software can be used to record and analyse a huge range of different experience-related metrics.

Customer Data Platform
Data is incredibly important in any digital campaign. Customer data platforms are now being relied upon to store and analyse crucial data, turning facts and figures into insights that marketing professionals can readily use. This database can then be made accessible to other martech platforms, significantly expanding the capabilities of marketing teams.

Analytics
Analytics platforms are used to measure and understand how customers interact with all kinds of digital marketing efforts. At their basic level, they help brand managers to understand the effectiveness of different campaigns, using typical success metrics such as web traffic, conversions and click-through rates to calculate ROI. But with the emergence of increasingly complex analytics platforms, the capabilities of analytics software are constantly expanding.

The Benefits of Marketing Technology

Marketing technology can be used to maximise the efficiency of any campaign, helping to improve ROI and amplify the profitability of any interaction. Take a look at some of the key benefits that martech provides:

Increased Efficiency
Leading marketing technology tools all share the same goal: to increase efficiency. Using automation, these tools cut out a huge amount of work that would otherwise have been done by marketing teams, rapidly improving efficiency for companies of all sizes. Not only that, tools can be used to ramp up the efficiency of the campaigns themselves, enabling teams to see what works and what doesn’t – and do more of what does!

Personalised Content
Martech and personalisation go hand in hand. We’ve seen the potential of personalisation go through the roof in recent years, and that’s largely down to developments in the marketing technology field. Using personalisation tools and software, teams can tailor their campaigns to particular customers to achieve the best possible ROI. Interactions can be timed to suit specific customer groups, and informed by their past preferences and purchasing habits.

Increased ROI
ROI is never far from the mind of marketing professionals, and martech recognises this. Marketing technology is always aimed at achieving a better ROI, and the vast majority of digital marketing tools are incredibly successful at doing so. By cutting out waste and targeting digital interactions more accurately, martech tools ensure that the ROI of every campaign is as good as it can be. Tools can also be used to help teams learn from past campaigns, and make further ROI improvements in the future.

Improved Customer Retention
Customer retention is crucial to the success of today’s top brands. Marketing technology enables companies to ramp up their retention efforts, by keeping them informed about how customers are interacting with their content and showing them exactly what they need to do to keep customers’ interest. Customer experience software and data management platforms are now being used to significantly improve brands’ chances of retaining customers, and we’re seeing huge improvements in customer experience as a result.

Marketing technology services offer incredible opportunities for ambitious companies in all industries. Martech can be used to help brands really understand their customers. From this understanding comes the potential for highly profitable advancements in efficiency, campaign ROI, personalisation and ultimately the experience that customers enjoy.

Contact our team or use the form below to find out more about how you could be making better use of martech to grow your business.

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