How could marketing technology (Martech) help you?
What is marketing technology?
Marketing technology is a general term for tech used to assist marketing teams in their work. The technology is mostly used in the sphere of digital marketing, and also for the optimization of offline marketing channels.
The sector has grown substantially since it was first identified as a standalone industry in 2011. At that time, the number of major vendors of Martech stood at around 150; in 2018 this figure has grown to approximately 7000.
What are the benefits of using marketing technology?
Marketing technology makes organizations more efficient and effective. Increases in the former can be boiled down to two distinct drivers: firstly, the automation of laborious marketing tasks helps reduce the number of man-hours required for the execution of your marketing strategy; helping you to achieve more with less. Secondly, marketing technology can provide actionable insight into the ROI of your marketing efforts. Once you’ve identified ROI, you can scale up or down different initiatives in order to maximize cost per acquisition.
Additionally, marketing technology helps teams to be more effective in the acquisition and retention of customers. For example, by using LinkedIn ads to target a specific job title, you can tailor your marketing message to that specific persona; increasing your chances of engagement.
Main types of marketing technology
Advertising technology provides a way for you to access audiences that would otherwise be out of reach. This could be through Google search ads, remarketing ads through Facebook, or targeting a specific job title within LinkedIn.
Analytics should be the cornerstone of your marketing technology stack. Analytics can be a standalone product (e.g. Google Analytics or Amplitude Analytics) or a feature of a different tool (for example, Bynder offers content and ROI analytics within your DAM).
Marketers produce content to sell their product or service. But, if the organization is unable to find or distribute marketing material promptly, those assets (and the opportunities they may have created) go to waste. That’s why an effective digital asset management system is key to extracting value from your branded content.
Bynder’s DAM leverages AI-powered search, a filter taxonomy and versioning to help you find what you’re looking for at top speed.
Implementing an effective CRM system is a critical aspect of marketing efficiency. By enabling customer retention, CRM helps you to generate more value from your existing customer base, which in turn increases the ROI of your customer acquisition efforts.
Salesforce, Intercom, Marketo, and Hubspot are all leading CRM systems. The one that suits your organization best will depend on a number of things, including the size of your customer base, the scale of your marketing efforts, and whether you’re B2B or B2C.
There are a number of different ways that social media operations can be optimized using technology. For example, if you are responsible for multiple Twitter accounts, TweetDeck condenses all your Twitter accounts into one easy-to-manage dashboard.
Or, if you find that searching for and resizing images for different social media accounts is time-consuming, Bynder derivatives resize your images automatically for each platform; making posting images across various social media a breeze.
Small business marketing, big digital challenge
Bynder collaborated with third party research firm Survata to gain insights from more than 500 CEOs and marketing decision makers at U.S. organizations with 300 employees or less across various industries.
Marketing technology: too much of a good thing?
There’s a lot to love about marketing technology. But you want to make sure it’s working for you, not against you.
Marketing technology FAQs
Can I have a demo of the class of marketing technology that I want before I buy?
Almost all vendors will offer a software demo before you decide to buy. On that note, if you feel like it takes longer than it should to find or work with your files, why not book a demo with us? We will show you how a DAM makes your content management simpler, smarter, and better for everyone.
What kind of role does digital asset management play in the martech stack?
Modern marketing teams are all about creating content, and DAM is all about keeping that content securely stored and organized. The easier your content is to find, the more likely it is to be used, and the higher the ROI of that asset will be.
How much does marketing technology cost?
The price of marketing technology depends on the type of software you are interested in. To get a no-obligation digital asset management quote, click here.
Can I try out marketing technology for free?
To see how digital asset management works in practice, sign up to our Bynder trial.