Marketing has evolved over the past decade. In today's digital world, you can't send out a mass-produced mailer and expect results without marketing technology investment. You must use various marketing tools that deliver data-driven insights to create personalized experiences for your customers.
In this guide, we will explore 8 reasons your business needs to invest in Marketing Technology, also known as Martech. Let’s get started.
With the actions you can take, it is time to understand that big data is the new oil. The global Big Data market is worth an estimated $274 billion. With more than 70% of the data being user-generated (videos, reviews, blogs), you cannot undermine the importance of using data to make impactful decisions.
Data improves marketing ROI by identifying the effective channels for your brand. It can also help you to identify what content resonates with your audience and where they spend their time online so that you can tailor your messaging.
The better you understand who they are and what they want from you, the more likely they'll be happy customers who return again and again. Data will also help inform personalization strategies so that all messages are tailored toward individual needs/preferences.
This improves customer experience with each interaction with your brand—from awareness campaigns through purchase decisions—and makes them feel valued as an individual instead of another number in a database somewhere.
You know you're not talking to your customers or potential customers—you're talking to people who are on the edge of buying or leaving. You have limited time and resources to engage them, so you need technology that helps you deliver the right content at the right time to the right audience.
80% of customers prefer buying from companies that provide relevant offers to their customers. In short, businesses need to provide personalized customer experiences to remain relevant.
Automated personalization empowers you to use data intelligently. It can help tailor every message based on a customer's unique needs and preferences, delivering a more memorable experience. And making it easier for them to decide what they want from your business.
Let’s say someone has shown interest in signing up for your newsletter but hasn’t yet done.
Instead of sending an automated email with details about how easy it is for them (or even reminding them), why not provide additional information related to their needs?
This could include helpful tips from other customers who have signed up recently and some quick links they can click on if they want more information before signing up.
You need to start treating smartphones as the future. Nearly 60% of all internet traffic comes from smartphones. This means if you do not have a responsive website or a dedicated application to connect with your customers, you will likely lost your business to the competitors.
As marketers, we must ensure our messages reach customers where they are; on their devices. This means crafting campaigns optimized for mobile devices and deploying them across channels like display ads or email newsletters with responsive design elements so that your ads will look great no matter what device they’re viewed on.
The journey to purchasing starts with brand awareness. It moves through consumer touchpoints: search engines (Google), social media platforms such as Facebook and Instagram, email marketing campaigns, and mobile apps.
The goal is to bring them closer to becoming a customer by providing value at each stage along their journey—whether answering questions about products on social media or helping them find what they want on your site to place an order while they're ready to buy.
When you’re making critical marketing decisions, you need real-time data. But getting it isn’t easy.
For example, if your sales team is having trouble getting inbound calls from prospects and converting them into demos, then a CRM system can help you figure out what needs to change about your process.
In fact, CRM is the fastest-growing software in digital marketing. In 2022, CRMs have helped companies generate over $35 million in revenue with an annual growth rate of 13%.
But that's not all; you also need technology that delivers the right information at the right time and can show how this fits into your bigger strategy for growing revenue and boosting customer engagement.
It's a simple concept, but many companies get it wrong. They think their marketing team has no time for more than the basics. So they set up an automated system that does everything without much human intervention.
But no one ever considers that automating a process will mean less human involvement and often not enough oversight of what's happening behind the scenes. This can lead to problems (like not knowing if your campaign is being executed).
To avoid these issues, look for software that's easy to use while also allowing you complete visibility into each step of your strategy creation process so you can make informed decisions when necessary.
Relevant content is the most effective way to connect with your customers. The ability to create, distribute, and engage with content makes it possible for you to differentiate yourself from competitors in a meaningful way.
Content is also an important tool for helping customers understand your business and make decisions about purchasing from you.
SEMRush conducted a survey of 1,500 companies in 20 industries. 97% of the correspondents responded that a content marketing strategy was in place to keep up with the growth of their business. The survey also noticed a 22% rise in search queries for “What is Content Marketing.”
Marketing technology investment ensures you get results through content marketing, a process by which you publish and distribute relevant and helpful content to your audience.
Content can help you be more relevant by providing educational resources on relevant topics to your lives or businesses.
In addition, well-produced content will give your customers reasons why they should choose you over other brands that offer similar products or services.
Finally, content can help deliver a seamless experience for your customers by connecting different parts of the customer journey into one cohesive story.
Companies investing in marketing technology outperform the competition by 48%. 10 years ago, there were less than 1000 tools to help marketers solve the challenges of marketing.
Fast forward to 2022, today we have 10,000 of these tools. This is a growth rate of 10x in 10 years.
Now that you know what to look for and evaluate marketing technology, it's time to start looking at vendors. We recommend starting with the folks listed in this post—they're all solid choices with a proven track record of helping businesses like yours achieve marketing success. And if you're still not sure which one is right for you?
Let our team guide you through the process of finding the right solution based on your needs and budget.