Martech: what is Marketing Technology and how it works

What is Martech? Martech (or marketing technology) is the union of marketing and technology. In the last 10 years, technology has actually made great strides and has also become fundamental in marketing.

The trend is growing strongly, in fact from 2012 there were only 150 martech solutions, and today there are about 7000.

Marketing technology makes it possible to achieve more efficient results in less time and to automate various business processes. The key features of Martech concern the study and storage of data (CRM, Customer Relationship Management, and Data Analytics), the production of multimedia content (CMS, Content Management System), and the automation of activities (Marketing Automation).

This approach allows customers to have an intense shopping experience and the company to really make a difference in the market.

There are many tools available to companies. According to the Omnichannel Customer Experience Observatory, promoted by the School of Management of the Politecnico di Milano, Italian companies have long since adopted a system based on the study of cross-customer data.

Furthermore, 21% of companies have a system for storing data from different sources and multiple entities called Data Lake and from which the companies themselves base their research.

Find out in this article what martech is and why you can no longer do without it! Take a look at the winning case studies of those who use them and evaluate them for yourself. If you feel the need to be projected towards this new methodology, discover the digital strategy course.

What is Martech?

Martech (or marketing technology) is the set of marketing activities performed with the aid of technology.

The term may indeed seem new, but in reality, martech is an integral part of our everyday life. Creating and publishing content on social media, doing e-mail marketing, and developing automation systems, are all martech activities. These are software and technology tools that facilitate and enhance the normal functions of Martech solutions.

There are about 7000 technology marketing activities. Scott Brinker, owner of the chiefmartech.com blog and vice-president of Hubspot (a company that develops and resells software products for inbound marketing and sales) keeps track of all martech marketing activities every year and compiles an up-to-date report.

According to his analysis, all martech software and platforms fall into 6 categories:

  1. Advertising and promotion
  2. Content marketing and user experience
  3. Social media and PR
  4. Trade and sales
  5. Data Management
  6. Corporate Management

Each reported category includes a list of subcategories, which I will describe below.

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Advertising and promotion

The first group of martech solutions concerns promotion and advertising, which is useful to keep the brand in top-of-mind. This first category is divided into the following subgroups:

  • Mobile Marketing
  • Display Advertising
  • Search and Social Advertising
  • Content Advertising
  • Video Advertising
  • Print Advertising
  • Digital PR.

User experience and content marketing

Another cornerstone of a martech strategy is the generation of content to attract the interest of users. This category is also divided into:

  • Mobile App
  • Video Marketing
  • E-mail marketing
  • Content marketing
  • Interactive content creation
  • Optimization and customization of marketing
  • Management of digital assets and marketing resources
  • SEO analysis
  • Marketing automation, campaign, and lead management
  • CMS and web user experience management.

martech in the seo

Social media management and PR

The creative mind of a marketing technologies professional ranges from content creation to copy for social media. A subset of social media management and PR tools are divided into:

  • Account-Based Management
  • Meetings, events, and webinars
  • Social media marketing and data monitoring
  • Localization, referral, and advocate marketing
  • Influencer
  • Community management and reviews
  • Chat management
  • Customer experience services
  • CRM.

Trade and sales

The future of commerce is in digital technology, and its trend is constantly growing. Incorporating an e-commerce strategy into one’s sales funnel is essential to remain competitive in the market or at least securing a slice of it. The Commerce and Sales group comprises:

  • Retail and IoT marketing
  • Channel marketing
  • Sales automation
  • Affiliate marketing
  • E-commerce marketing
  • E-commerce platforms.

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Data Management

How are customers managed during their life cycle? What do they do? By what means can customers be incentivized to do more? So, how much and what data do they provide to the company? Below is a sub-group on data management.

  • Data marketing
  • Marketing Analytics
  • Mobile and Web analytics
  • Dashboard Visualisation;
  • Data Science and business/customer intelligence
  • Cloud Integration
  • Privacy management
  • Customer data management platform.

In order to have an efficient management of user data, it is advisable to have CRM software, i.e. those tools that allow having in a single interface the data of all the current and potential customers of a company, in order to know their needs and requirements and to decide on the best possible strategy to get in touch with them.

Corporate Management

This article has repeatedly stressed how marketing and technology can no longer travel on separate tracks. To witness this exponential growth, Scott Brinker’s report again comes to my aid, in which he highlights how companies that have moved into martech have distinguished themselves in terms of influence and significance. Here is a list of activities undertaken by companies in a martech solutions context:

  • Product Management
  • Talent management
  • Budget and financial management
  • Collaborations
  • Project manager
  • Lean management
  • Supplier analysis.

Why use Martech?

Having seen what technology marketing is and the activities it encompasses, it is important to know why to use it. Technology-based marketing allows you to gain an important competitive advantage over your competitors, as it makes many marketing activities more effective that would otherwise be less performing, slower, and obsolete.

These martech activities allow:

  • Managing data effectively and quickly: Big data are now fundamental for every company. They enable the best possible definition of customer preferences and needs, competitor activities, and market opportunities.
  • Communicating with customers: creating different content on multiple platforms. Defining, implementing, and monitoring a targeted and effective omnichannel marketing strategy.
  • Increase sales and turnover: with more effective analysis and communication and the implementation of e-commerce, sales and consequently turnover increase.
  • Automating business processes: making complex, time-consuming, and energy-intensive business processes automatic.
  • Implementing new martech activities: automating certain processes inevitably leads to spending more resources on implementing new marketing activities.
  • Improve business management: improve activities such as product, project, personnel, supplier, and budget management.

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The Martech market

In the past year, the martech market grew by 22% to USD 121 billion. This was stated in a study of a sample of 750 companies and agencies worldwide, conducted by Bdo and Warc.

In particular, the US and UK companies surveyed invest as much as 26% of their budgets in marketing technology (up from 22% the previous year). In which fields do they invest the most? Over 75 percent invest in e-mail and social media, and around 30 percent in more complex activities such as CRM, content, and analytics.

Martech case study: “Travel Appeal”

The Italian start-up called “Travel Appeal”, which operates in the tourism sector, represents an excellent study of a company focusing on martech. Travel Appeal, which works with accommodation facilities, DMOs (destination management organizations), restaurants, and tour operators, has in fact developed a big data analysis algorithm that deals with:

  • Gathering information regarding customers and competitors
  • Drawing up a report analyzing every single interaction that takes place in the world of the web: social media, blogs, and sites
  • Managing social pages and comments
  • Manage pricing policies
  • Carry out market analyses
  • Discover new market trends.

travel appeal company

Think of the power of this tool for anyone wishing to start a new business in the tourism sector. For example, one could ask: what are the travel motivations and negative feedback from tourists over 25 in the Milan area about Rome on the main social networks?

Thanks to this data, it will be much easier for a company or a tourist destination to implement a strategy that meets the needs of that particular target and succeed in winning them over.

Thanks to its innovative approach, Travel Appeal was able to attract no less than EUR 3 million in public and private funds, which enabled the company to grow exponentially.

Conclusion

Martech (marketing technology) represents the set of software and technological tools applied to marketing. These tools make it possible to increase the effectiveness of marketing activities, automate them and optimize the economic budget allocated to them.

Marketing technology is now essential, as many marketing activities are now carried out with a multitude of software and platforms.

Martech activities can be divided into 6 main categories: advertising and promotion, user experience and content marketing, social media management and pr, commerce and sales, data management, and business management. Through Martech, technology can be used to achieve maximum customer satisfaction: a happy customer will tend to speak well of your brand and defend it.

Companies that use martech solutions gain a significant competitive advantage over their competitors, in fact, the martech market has grown globally by 22% in the last year. Companies in the UK and US analyzed in the study conducted by Bdo and Wark, invest as much as 26% of their budgets in martech activities.

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