What is 'MarTech'?

Exploring the skills and mindset brand execs will need to stay ahead of the curve in 2017 and uncover the myths and realities of specific areas, including data management, marketing automation and personalization.

What is MarTech?

MarTech, or Marketing Technology, is the combination of marketing and technology. Technologically based, anyone who is involved with digital marketing is involved with MarTech.

However, MarTech specifically applies to the initiatives, tools and efforts that control technology in a way to reach business’s marketing goals and objectives.

Search Engine Land reviewed the “Top 5 Martech Insights and Showstoppers” for 2016, and acknowledged how far MarTech had come in 2016. However, they also acknowledged the fact that there was much more to come for MarTech in 2017.

Scott Brinker wrote: “The pace of change and the adoption of marketing technologies continue to accelerate. And more than ever, marketing technology is playing a critical role in this time of massive upheaval and digital disruption”, explaining that marketers should brace themselves for an even more amazing year of MarTech to come.

What Brand Execs need to stay Ahead of the Curve in 2017

Overall, the number one element brand execs need to stay ahead of the curve in the year to come, is a solid strategy.

Above all else, strategy matters more than ever, especially in 2017, as it will help brands leverage the full power of their current marketing technology.

According to a study conducted by Chief MarTech, they asked the question “what would help you better leverage the full power of current marketing technology stack?”, and the number one answer was “Better strategy”, with “Better analytics” coming in second.

These results only solidify the suggestion that that marketing’s relationship with technology is maturing, and in order to continue growing, there is the need to invest in the right tools and integrate them in the correct manner.

Myths and Realities of Data Management, Marketing Automation and Personalization

      Data Management: You are behind the technology curve.
      You may think that you are behind the technology curve, and many MarTech sales people will try to make brands feel that way. However, the reality is, MarTech is still in its early days, and according to findings from the Real Story Group research, “52 to 54 percent of enterprises are still in the ‘just starting’ phase of digital marketing adoption.
      Marketing Automation: It’s all spam
      Many companies choose to automate their marketing in this fashion, however, it is not the only way that it can be used. Spam is only spam because it’s irrelevant, not because you find it in your inbox. The reality of marketing automation, is that you can slowly provide information and content to your users or customers based on a number of attributes, including: who they are, their interests and how they found you. By engaging with your customers in this way, you will be able to guide those leads towards to the sales funnel.
      Personalization: Personalization it too expensive and takes too much time.
      One of the two most common myths surrounding personalization, is that it costs too much money to implement or that it will take too much time to implement. But in reality, there are numerous real-time personalization tools on the market that help you save time and get the job done.