Is MarTech The New FinTech: A Guide To Marketing Technology
With Fintech rising like a storm and is now revolutionizing traditional financial services, it’s no surprise that Martech comes into the picture. What is Martech and how does it affect today’s marketing and business landscape?
What is MarTech?
Martech, short for Marketing Technology, is the technological integration of Marketing practices. This integration usually entails employing a set of tools and software to assist the Marketing team, known as the Marketing Technology Stack. Martech tracks and optimizes marketing efforts across any marketing channel, thus maximizing return on marketing investment.
Many confused Martech With Adtech, but note that these two are not the same. Martech refers to technologies used in the entire process, from strategizing to performance evaluation, of digital marketing campaigns. Adtech, however, refers strictly to tools used in digital advertising efforts, like buying or selling ad space.
Martech Stack
The main areas of a Martech stack include Advertising, Email Marketing, Content Management, Data Analytics, Customer Experience, Customer Relationship Management, and Social Media.
Here is some leading software that could be a great addition to your Martech stack.
Analytics: Google Analytics, Adobe Analytics, Tableau
Advertisement: Google Ads, Semrush
Email: MailChimp, Constant Contact
Search Engine Marketing: Google AdWords, WordStream
Marketing Automation: HubSpot, Oracle Eloqua
CRM: Salesforce, HubSpot
Project Management: Trello, Asana
What’s to come
Optimized Martech Stack can help companies effectively manage their marketing budgets and understand spending, increase retention rate, design data-oriented campaigns, and creatives, and on. Marketing practices can now be more effective and efficient.
In the future, Martech will be increasingly innovative. Practices like big data analytics, deep learning, chatbots, blockchain-based marketing tools, and voice technology are being integrated into our everyday Marketing practices. To best reach the target audience and drive conversion in this age of information overload, Marketers need constant knowledge updates and innovation to rise above the competition.
