Technology has transformed the marketing industry by creating ecosystems that are more integrated for marketers. New technology trends have changed the infrastructure of how companies shape marketing strategies and budgets. The efficiency and automation that technology provides is pivotal to a successful strategy. The world is heavily relying on technology to bridge the gap and make connections between people. It’s more vital than ever to truly understand the tools and technologies available to marketers and how to account for this growth in a marketing budget.

What is Technology in Marketing?

When implemented and understood, there is no question that marketing technology, also known as MarTech, equips marketing teams to optimize their content operations. MarTech platforms are used to improve corporate collaboration, analyze the effectiveness of marketing efforts, and communicate with customers in a proactive manner. Businesses need MarTech as the markets are becoming more competitive by the day.

The Essentials of Marketing Technology

Having a tech stack in  today’s technology-driven world no longer serves as a competitive edge, it is an integral part of businesses. B2B marketing technology simplifies cumbersome operations, evaluates the efficiency of campaigns, and drives efficient spending. There are several key elements of a MarTech stack to incorporate into a company’s strategy.

• Content Management System

A content management system (CMS) assists companies with creating, managing, and modifying website content without the need for technical programming knowledge. The CMS serves as the content control system that handles the basic infrastructure for building landing pages and hosting brand assets. This digital advantage includes improved customer relationships, cost reductions, and enhanced capabilities for decision-making.

Consider these platforms: WordPress, Wix

• Marketing Automation

Marketing automation can help companies increase productivity, reduce human error, and maximize resources with automating processes across multiple channels. By tracking insights with marketing automation, marketers can develop comprehensive prospect profiles to nurture leads. This technology is expanding into tailor-made campaigns that use multiple channels to reach a responsive target audience, allowing for customization and flexibility that was once not possible.

Consider these platforms: Constant Contact, Hubspot

• Social Media Marketing

To stay relevant in the digital space, social media is a must. Incorporating social media tools into your MarTech stack can contribute to achieving short-term and long-term targets. These tools can not only save marketers time with scheduling and publishing content but offer critical insights on the best time to post your content to help maximize impressions and boost audience.

Consider these platforms: Hootsuite, Sprout Social

• Project Management

Collaboration is easiest with proper organization. Project management platforms enable teams to organize, track and manage tasks to better supervise deadlines, priorities and more. Other MarTech platforms help organize projects within certain vertical tasks, while project management tools enable efficient processes across all areas of marketing. This technology is ideal for teams across locations and time zones as well since digital edits are available in real time.

Consider these platforms: Asana, Kapost

Take Your Goals into Account

Your MarTech strategy should always be tied back to the fundamental goals and growth of the company. Knowing exactly what a business needs and goals are will help your company decide how much of the budget to allocate its MarTech stack.

It’s important to consider how much of your budget you can devote to current and new MarTech solutions each year. You do not want to be spending your money on unnecessary tools and services that no longer serve your company a purpose. Goals and objectives can change throughout time and your MarTech stack should reflect these changes. By considering long-term growth, you can ensure your company has the right technological tools in place to support evolving marketing efforts.

Do Your Own Research

The options of MarTech tools are constantly growing and some tools are better suited for specific industries. To find the right fit for your company research is always highly recommended. Your company’s needs and wants are unique, make sure to invest your budget into the MarTech tool most effect to you.

Consider the Training

Many companies tend to overlook the importance of training that comes with implementing a new MarTech strategy. Adapting a new technology to your marketing strategy tends to come with a transition process that takes effort and time. To ensure that you and your team are gaining the best understanding of these new tools, you should consider training and support as part of your decision-making process.

Once you’ve done your research and implemented this new piece of marketing technology into your strategy, take the time to review its progress and if your company has achieved the desired result. Not all marketing technologies lend themselves easily to a quantitative return on investment (ROI), but they should be able to be measured by the goal you initially set up in your proposal. With the right budget, you can develop a MarTech stack that is up-to-date, reliable, and cost-effective.