Martech Resources: Learn the Basics of Martech
With the Internet shaping so many of today’s consumer decisions, marketing technology — or martech — has proven a vital tool in assessing user preferences and nurturing potential customers through the sales funnel, as well as providing comprehensive demographic data for strategic planning.
Your Guide to Marketing Technology (Martech)
What is marketing technology and how can you use it to drive revenue for your business? Read our martech guide below to find out! Then subscribe to our email newsletter, Revenue Weekly, for more digital marketing tips from the agency with over 25 years of experience!
What is martech?
The first question to answer is this: What is martech?
Marketing technology, or martech, refers to the tools businesses use to power their marketing activities.
Marketing technology itself is wide-ranging — the number of available martech solutions grew by 13.6% from 2019 to 2020, with a total increase of 5233% from 2011.
Martech tools, platforms, and apps enable the creation and distribution of marketing assets, streamline strategies using automation, track campaign results, and more.
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Why is martech important?
To say Internet use is still increasing among Americans in 2021 would be something of an understatement — a 2021 Pew Research Center study found that of U.S. adults aged 18–64, on average, 97.6% were Internet users, with 75% of those 65 and older also using the Internet.
With such a large user base, businesses are flocking to the Internet as a means of reaching consumers seeking goods and services. The necessity of effectively reaching Internet users is often hard to quantify for primarily brick-and-mortar, small-to-medium-sized businesses.
Yet, the current environment necessitates a reputable online presence for any business — a 2018 Business Wire report found over one third of consumers will not purchase products in a brick and mortar store without first referencing online business reviews.
While an online presence is imperative to reaching customers, engagement — and re-engagement — with potential customers is crucial to driving revenue, as is harnessing customer data to ensure that engagement is highly relevant to the individual.
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Martech basics: What is a martech stack?
A marketing technology stack is quite simply the bundle of software programs and tools used by digital marketers for research, planning, and analysis, and can be a holistic suite of programs provided by one developer (similar to Microsoft Office or Adobe Creative Cloud).
It can also be a combination of individual software tools provided by individual companies to meet different needs.
While martech suites often provide more seamless integration between tools — and less of a hassle in terms of account and subscription management — many digital marketers find that some suite software programs offer better capabilities than others.
Those discrepancies often prevent optimal reporting and lead to the purchase of additional, one-off tools that are designed to excel in a specific area, such as email marketing or content management.
For that reason, many digital marketing professionals choose to avoid the suite route for their martech stacks — a 2019 Gartner report found 57% of marketing technology leaders preferred a “best-of-breed” approach to martech stack selections, as opposed to integrated suites.
Programs specialized for specific reporting features are understandably preferred, as precise data and extensive management features are far more important for marketing results than the benefits of a bundled suite.
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Martech basics: What does a martech stack include?
At a basic level, digital marketers’ martech stacks will include the following programs and tools, though as an individual grows in their marketing expertise and business goals and strategies change, more niche software solutions may be added to meet specific needs.
Content management system (CMS)
Content management systems are imperative for streamlining website management, as they offer a user-friendly way for companies to manage their site content, without the need for extensive knowledge of HTML coding.
With content marketing becoming ever more important for digital marketing, a content management system greatly simplifies the process of implementing your content marketing strategy.
Email marketing platform
Email marketing is a valuable service for nurturing sales conversions from potential customers and re-engaging current and past customers. With the capability to automate email communications, an email marketing platform is crucial in nurturing leads via targeted email campaigns.
Social media management tools
Social media management helps to both streamline and quantify your company’s social media efforts, for both ad campaigns running on social networks like LinkedIn, Facebook, and Instagram, and the content posted to those platforms.
Search engine optimization (SEO) tools
SEO is ever important to the visibility of your company’s presence on the web, and SEO tools can help companies assess their most popular site pages, and strategies to increase traffic to underperforming pages.
Customer relationship management (CRM) software
Customer relationship management tools allow businesses to optimize their lead generation strategies, as well as assess conversion funnel position among leads and opportunity levels. Though this is more common among business-to-business (B2B) companies, lead generation can be equally successful for consumer-facing businesses.
Enterprise resource planning (ERP) software
ERP software is software used to manage various aspects of a business by integrating business processes and data in one location. ERP systems can integrate marketing, sales, inventory, finance, and more. ERPs centralize information, enable collaboration across departments, and improve efficiency through automation.
Advertising technology (Adtech)
As noted earlier, adtech tools are distinct from martech tools, but just as in the old days, a marketing strategy without advertising is just a strategy.
Adtech solutions should be considered in all martech stacks. Without advertising functionalities capable of implementing the insights culled from marketing technologies, your martech stack won’t be driving much in the way of results.
How to choose your marketing technologies
As you begin to build your martech stack, the most important step in pinpointing what solutions are right for your business is to determine your larger business goals and marketing strategy.
Knowing your goals for your business’s marketing efforts is the simplest way to determine what metrics and KPIs should be measured to gauge your results, and once those performance indicators are determined, you’ll have a better understanding of what tools will be most useful.
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Wondering what tools you should include in your martech stack? Check out the following resources to learn about your many martech tool options and get the information you need to choose the right ones for your business's needs.
Martech tool resources
- Best Online Marketing Tools [11+ Top Tools for Marketing]
- The 7 Best Digital Marketing Tools for 2022
- Marketing Tools for Small Businesses: 8 Revenue-Driving Tools for 2021
- Marketing ROI Tools: 8 ROI Marketing Tools for Success – WebFX
- 11 Marketing Automation Tools to Improve Your Marketing
- 8 Essential Google Marketing Tools for Your Business
- 10 Paid & Free Email Marketing Tools You’ll Save Time With
- What Is a Data Management Platform (DMP)?
- CRM Management: What Is It and How Does It Work?
- What Is a Cloud Data Warehouse and How Does It Work?
- Need an Executive Dashboard? This Marketing Dashboard Has It All
- What Is Adtech, and Why Does It Matter for Advertising? | WebFX
- Is Google Analytics Free? (5 Compelling Reasons to Use GA)
- Google Analytics 360 vs. Free Google Analytics
- Everything You Need to Know About Call Tracking
- Sales Automation Support: Drive Sales with Automation Services
- 6 Project Management Tools for Every Business
- 15 Sales Enablement Tools to Boost Your Strategy
- The All-Encompassing Guide to Chatbots
- Chatbots vs. Live Chat: Which Should Win Over Your Business?
- Blockchain Technology: What Is It and How Can You Use It
- What Is HubSpot? (And What You Can Do With It)
- 5 Advantages and 3 Disadvantages of Using Marketo
- How to Choose Among Marketo, Salesforce, and Pardot
- How to Use iBeacons for Your Local Business
- Maximize Digital Marketing Efforts with NetSuite
- Maximize Digital Marketing Efforts With SAP ERP
- Maximize Digital Marketing Efforts with Syteline
- Maximize Digital Marketing Efforts With Brightpearl
- Maximize Digital Marketing Efforts With SYSPRO ERP
- Maximize Digital Marketing Efforts With Kinetic
- Maximize Digital Marketing Efforts With Sage ERP
- Maximize Digital Marketing Efforts With Macola
- Maximize Digital Marketing Efforts With Infor
- Maximize Digital Marketing Efforts With IFS Applications ERP
What are martech services?
When you invest in martech, you want to make sure you’re getting the most from your investment. A martech company can help you accomplish that. Marketing technology companies provide services such as:
- Helping you choose the right martech tools
- Helping to implement martech
- Offering access to martech tools
- Providing tech-enabled marketing services
At WebFX, we offer martech consulting, martech implementation, and tech-enabled marketing services. We’ve also created a proprietary digital marketing platform called MarketingCloudFX that includes numerous valuable tools and uses billions of data points and artificial intelligence to enhance your marketing campaigns.
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Martech services resources
- What Do Marketing Automation Agencies Do?
- Marketing Automation Services | Meet MarketingCloudFX
- Your Lead Management Solution | MarketingCloudFX Software from WebFX
- AI Solutions: Turbocharge Marketing Results with AI Services
- Data Warehouse & ETL Pipeline Services
- Big Data Consulting Services
- Marketing Technology Agency: Meet WebFX
- The Best BigQuery Consulting Agency | Get Started With Google Cloud
- How Much Does Martech Cost?
- How Much Do Tech-Enabled Services Cost?
- AI Pricing | How Much Does Artificial Intelligence Cost?
- Marketing Automation Pricing
Learn more about martech from WebFX
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