As the name suggests, Martech is the blending of marketing and technology. However, having the system and understanding the data are two entirely different animals. Presently, only 13 percent of marketers are confident that they're able to fully utilize the data they get from their MarTech tools [1]. In part, this may be because the technology itself overshadows its ultimate purpose. Sky Cassidy of data intelligence leader, Mountain Top Data, puts it this way: "There is the marketing means and the marketing message. MarTech concerns itself with the means to reach the target audience. However, the marketing message is of greater importance, and that is something a creative mind must deliver."
The marketing technology industry is growing. Based on a recent study, the average company invests in 16 separate marketing technology platforms. For larger organizations, this number was as high as 98 platforms. This includes customer relationship management (CRM), marketing automation platform (MAP), content management system (CMS), and various forms of advertising, data management, reporting and analytics platforms [2]. Read related news now.
Technology offers the constant lure of greener grass; every new tool claims itself as the one that will generate more sales. Yet these new bells and whistles are worth nothing without: Click here to read the latest news.
1. A deep understanding of the system and its data
2. An innate marketing skill
Although 57 percent of marketers said ROI is one of their primary objectives for their MarTech investments, they also cited that ROI is one of the most critical challenges they face with these tools [3].
Due to a lack of the two crucial requirements listed above, 42 percent of companies admitted their technology was fragmented or piecemealed [4].
"This fragmented approach to marketing creates a 'Jack of all trades, master of none" syndrome, and distracts the marketer from creating great experiences" said Cassidy. Instead of spreading resources across many platforms, it's often smarter for a business to concentrate on honing their marketing message and using only the platforms that gets the most bang. It's not the tools themselves that make you succeed, it's how you use them. More info here.
What platform gets the most buck? Sometimes all this flashy new technology can make a company blind to the tried and true marketing approaches. For example, email is nearly 40 times better than Facebook and Twitter at acquiring customers [5]. Read all the latest news.
"Despite all the fancy tools and claims, I know email is still king," Cassidy agrees. "But to get the most bang from your email campaigns, it is imperative that your email lists are clean and up-to-date and that you know what you're doing. In the past you could spray and pray and it worked, now that the novelty has worn off you have to really know your stuff."
About MountainTop Data
MountainTop Data, headquartered in Los Angeles, has provided data services for B2B marketing for almost two decades, including marketing lists, data cleaning, data appending, data maintenance and email campaign management services. With an unrelenting commitment to quality, it was the first company to guarantee the accuracy of its licensed data and business emails. Its data services have been used by some of the world's biggest brands across a multitude of industries, including multi-national telecommunication corporations, office technology companies, PR firms and more. For more information visit https://www.mountaintopdata.com
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1. ShelleyRyan, Ryan, et al. "How Many MarTech Tools Do You Really Need?" Business 2 Community, 2019.
2. Sheridan, Andrew, and Business Intelligence Project. "8 Stats That Prove Email Is Still the King of Marketing." DialogTech, 13 Oct. 2017.
3. Ismail, Kaya. "Striking a Balance Between Martech Investments and Upskilling." CMSWire.com, CMSWire.com, 8 Oct. 2019.
4. Myler, Larry. "Your MarTech Silos Are Slowly Killing Your Company (And What To Do About It)." Forbes, Forbes Magazine, 30 June 2017.
5. Sheridan, Andrew, and Business Intelligence Project. "8 Stats That Prove Email Is Still the King of Marketing." DialogTech, 13 Oct. 2017.
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