Nowadays, marketing and technology go hand in hand. Why? Because for a modern-day marketer, it is impossible to work without the right set of tools and technologies. The marketing industry is constantly evolving with tons of innovations made every year that can help you automate and simplify your marketing efforts. One of the most confusing and time-consuming tasks in business is to select the right set of tools and technologies. Therefore having a marketing technology stack is fundamentally important to your business.
But what does that term mean?
What does it consist of?
Why would you need one?
All these questions will be answered in this blog. So, without any further ado, let us dive into the details.
What is a marketing technology stack?
A marketing tech stack is a set of technologies that marketers use to optimize and augment their marketing processes. These technologies can help you with analyzing the performance of the marketing campaigns, streamline internal collaboration, and conduct personalized communication with the customer.
Integrated series of martech can help build seamless customer relationships across several channels. The reason behind the use of martech is that it is more dynamic than any individual marketing tool or technology.
2021: The year of the smarter martech stack
Before we get into the how and what of your marketing tech stack, let us have a look at the marketing trends for 2021.
Most of the fastest-growing innovative software companies are always thinking about how they can improvise their existing marketing tech stack. Because they want to interact with their customers in an enhanced and personalized manner.
But instead of trying out new martech tools launched in the market, businesses have strategically shifted their focus on finding innovative ways to capitalize on their existing technological resources.
As most of the marketers have ignored the capabilities of using a marketing stack, this behavior of the business owners doesn’t seem so surprising. As per the 2020 Gartner Marketing Technology Survey, marketing leaders have reportedly leveraged only 58% of their martech stack’s potential last year – a figure that’s flatlined since 2019. This underutilization of the martech stack has been presented with an opportunity by the uncertainty of the pandemic. It has made marketers realize the advantages of a streamlined marketing stack within the limits of their budget.
Building Your Marketing Tech Stack
A Gartner report says that 71% of the marketing leaders have a dedicated budget for innovation in their business. the more the budget to invest in new services and practices, the wider the range of options arise. But you have to remember that not every option is worthwhile or suitable for your marketing campaign.
So, before you look out for the available choices in the martech, you need to take a look inside.
Identifying Marketing Pain Points
The first and foremost thing to do while finding a suitable marketing tool is to have crystal clarity about what specific marketing problem you need to fix. It can be anything like lead generation, web analytics, production scalability, and many more.
First, you need to define your problem and then look for a technology stack that can help you solve it. Simply choosing the random or the referred martech stacks can create its own set of problems. The tech stack that leads to such scenarios is often called in the industry the “Frankenstacks.”
Having clarity about basic marketing stack
Before you start integrating the complex pieces into the tech stack for your campaign, make sure you have your basics clear. Marketing automation solutions, content management systems, customer relationship management, and an analytics platform are the fundamentals to accomplishing a successful marketing program.
After that, you can use those complicated marketing technologies to serve your prospects and customers in an enhanced approach. It includes delivering better customer experiences, serving up context-based content, having sales-relevant conversations, and so forth.
Finding Example Martech Stack
You should check the martech stacks of the top companies as references if you are evaluating your existing tech stack. You can also look at the stack as an example if you are finding a key component for the stack but can’t figure out what it should be.
Researching marketing tools of the top companies will provide you with an insight into how you can leverage technology services for specific business marketing tasks and also identify marketing technology gaps.
What Are Your Marketing Tech Stack Needs?
First of all, what are your marketing needs? As per them, you need to decide which type of Martech stack you will need for your campaign. There are many marketing technologies and tools for gamification, chatting, data visualization, and so on. But you wouldn’t need all those martech, just a few that would offer solutions to your marketing needs.
on the other side, if you are just looking for exceptional solutions then you should check the interactive marketing tools. That will take your customer engagement rate through the roof. But you also need to understand the current market trends so that you can use that information to justify your organization’s marketing needs in a better way.
The right way to do it is to find the balance between where your martech stack is lagging in achieving the marketing goals of your business. However, the problem lies here is that there are way too many martech tools and resources out there. The key is to master each marketing platform at a time. Then it will be easy to incorporate various marketing technologies and tools into the sync of a well-organized stack.
But you could accomplish that through many trials and errors. Many marketing tools offer a trial period just for this reason. So, you would get enough time to check out which SaaS platform, Content management system, analytics software, social media tools, and many more are suitable for your company.
Components of a Marketing Technology Stack
The kind of technologies you use will impact your business, so it is important to organize them well. The only difference here will be whether your company offers the business-to-business service or business-to-customer type of service. Because the B2B and B2C marketers have to use different marketing channels and techniques to procure customers. Therefore they will have varied technological needs.
So, whenever you are putting a martech stack together, always consider the fundamental technologies first. There are some critical things that both B2B and B2C marketers need to consider. They are as following:
Content Management System (CMS)
It is a kind of technology that empowers your blog, website, or other relevant web properties which can be used by marketers to engage with the customers. This is one of the most basic elements of any marketing tech stack. Your CMS is a control center from where you can schedule, upload, and edit your content. This content management technology ensures that your web content meets your marketing needs.
Advertising Technology and SEO service
This is certainly a wide area but a key technique for marketers to acquire more customers. The most common combination used by marketers includes search engine marketing, display ads, retargeting, ad tracking, and attribution software. SEO is used to drive organic traffic to your website or blog. It is achieved by ranking higher in the search engines such as Google, Yahoo, and many more. it is a part of the content marketing strategy. Many marketing tools could help you with keyword research and other SEO activities which ultimately results in procuring more customers for your enterprise.
Though it is considered old school in the realm of digital marketing service, the experts agree that it is the single most reliable channel marketers could rely on. It is a must-have communication channel to interact with the customers that all marketers should have in their toolkit. You can double your outcome with this platform by automating it using software solutions like Mailchimp,infusionsoft, and more.
Analysis, Insights, and Business Intelligence Stack
Marketers access their database to analyze their digital marketing activities at a large level. Most of them track the web analytics through in-house developed or third-party tools. In the most advanced cases, information is extracted from the database through the data warehouse from a wide array of systems. It is done to make it more accessible or render deep insights on content performance using content intelligence.
Also known as an event marketing channel, it plays a vital role in marketing service for any enterprise. It is also important for the modern age companies to have the right set of experiential marketing technology solutions as the concepts of virtual events, conferences, webinars, and many more are gaining popularity especially due to this pandemic period.
This marketing activity consists of A/B testing and a personalization software program. This enables marketers to make their campaigns more effective and efficient by taking action on their analytics. The level of investment for this kind of marketing solution depends on your kind of business, whether it is B2C or B2B.
Social Media Stack
This is a tech stack on its own. What tools are you using to manage your social media? Marketing technologies can help you manage your social activities and makes your social encounter with your customers easier. This would maximize the impact on social media. Advertising on social networks like Facebook, Twitter, and LinkedIn is the key. Paid advertising options are also available on these platforms.
Customer Relationship Management (CRM)
The objective of customer relationship management is to track and manage your interactions with the customers. It plays an important role in lead nurturing and customer retention. That would preferably grow with your business. It could also integrate with another martech stack as per your needs, depending on which customer relationship management system you are using.
There are many customer relationship management systems available for all types of businesses ranging from startups to large enterprises. These CRMs will track all customer relationships and can offer insights for the marketing campaigns. It also influences sales pipelines and customer growth.
There are many more marketing technology components that you can use or refer to as per your company’s needs. But apart from all these, you should also check out the skill sets of your team members to ensure that they can get you maximum benefits from the marketing tools you use.
Building the marketing technology stack can be overwhelming as it is a gargantuan task. but if you think about it, it is very similar to putting together a team. combining the right marketing tools or technologies so they can work cooperatively towards the common marketing goals of the organization. Using them will not only map out the full customer journey but will also give you a comprehensive view of your marketing efforts. you will get to know about how to optimize every marketing dollar you earn.
I hope that you enjoyed reading this article. I have written it to help you in the journey to find and choose the right marketing technology stack for their organization. however, if you have any queries or suggestions, feel free to comment down below. _________________________________________________________________________