Marketers love good numbers, so here’s one for starters: 2,567%. This is not a typo, this astronomical percentage is the incredible increase in the number of technology vendors since 2011. Let this statement drop for a moment: In just five years, the number of vendors offering a marketing technology solution has increased from 150 to more than 4,000. But what does marketing technology actually do? Which marketing areas and disciplines benefit most from the technology solutions and marketing platforms? To help you find your way through the marketing technology jungle, we give you an overview of the most important application areas and tools.
Marketers use marketing automation to refine, target and optimize programs. Marketers are gaining more and more knowledge about buying behavior and how to best use that knowledge in campaigns. With Marketing Automation, you can quickly design new campaigns and optimize ongoing campaigns. It’s also easy to measure success. Marketing automation also includes the question of how you can reach and segment your prospects and customers. You need to be able to capture activities and actions across all channels to deliver the right message to the right recipients.
Consumers use far more than one channel. That’s why the best marketing plan is useless if it’s not implemented with the right technology for the right channel. Marketers should capture and measure all the touch points on the way to a purchase – from the ad to the search to the email. For an overall picture of the customer, the solution must be able to assign the information from the individual channels to a unique identifier. Only then can you know who the customer is, what his preferences are, how he interacts with your digital marketing activities and address them in a personalized way.
Technical tools for content should facilitate the creation of new content and integrate important content authors in order to make maximum use of existing resources. Content marketers need an overview of how and when their content is distributed. This also serves to keep the focus in the marketing organization. Extensive analysis data helps to adapt the content strategy as well as to optimize interaction and conversions. Key data includes traffic and conversion statistics, such as the number of visitors, average time spent on the site, downloads and recommendation sources. Marketing technology is basically about the following: You need to be able to plan, produce, and contextualize content. To do this, you need an easy-to-use content plan and powerful workflows that are integrated with campaign management.
The largest share of digital advertising is data-driven automated advertising, so-called Programmatic Advertising. Part of data processing is the need to capture and assign user identities. Data management platforms are indispensable if you want to learn more about your customers. Data from different sources with different protocols and procedures must be collected quickly using apps, cookies, server integration and many other digital touch points. Data management technology provides various reporting capabilities to interpret information and optimize ROI. An important point for linking the data is the integration of other technology data providers or platforms where you can activate the data for your Nurturing program to increase email reach.
Social Media Marketing
42% of consumers who have complained in social media expect an answer within 60 minutes, according to research by The Social Habit. It is more important than ever that companies have a customer service strategy and tool to identify and respond to such conversations on the web. Equally critical is interaction with customers via social media. Appropriate solutions identify specific phrases or conversations so you can interact in real time. You can also go one step further and ideally integrate your social media tool into your marketing automation or cross-channel marketing tool. In this way, you can automatically plan contributions that are precisely aligned with your other campaign activities.
Test and Optimize
Starting from your website, you can use testing to learn more about your target group and provide a more direct and accurate personal visitor experience for each target group segment. Add to that your mobile channels and apps. Data-driven optimization increases conversions. There are more purchases, more registrations, more completed forms, more links visited and ultimately higher sales. Only those who keep an eye on the customer throughout the entire customer journey will be able to set themselves apart from the competition in the future.
So there is no reason to wait with the introduction of marketing technology. If you want to learn how to get started and how to build your own technology stack, you can find our free whitepaper below.