A Quick Guide to MarTech
MarTech refers to any technology used to make marketing easier and more efficient. From emailing systems to social media platforms to content management programs (oh my!), thats MarTech.
Anyone involved in the digital marketing world is involved in MarTech, but not necessarily aware of what MarTech is. Scott Brinker, the thought leader of MarTech, went so far as to say "MarTech is marketing" - basically claiming that anyone involved in marketing today is already taking part in MarTech.
It's the intersection between the tech world and marketing world, and has quickly become the largest investment area for marketing resources and programs. The MarTech ecosystem has grown so much in recent years that it's becoming impossible to track how much it has actually evolved.
Let's delve into the complex ecosystem of MarTech and everything from the major things to know about the industry and why it matters.
The Basics of MarTech
MarTech refers to anything that makes campaigns more wide-reaching, sees performance data and analytics. This includes email marketing platforms like MailChimp, social media marketing platforms like HootSuite, or services that provide website analytics, or programs that gauge customer satisfaction.
These technologies give marketers insight on how to improve results and better execute marketing strategies.
As more platforms for marketing emerge in the digital world, technology has to keep up with making it easier for brands to market and for users to be marketed to. There are MarTech for endless functions and applications, creating an impressively expansive ecosystem.
The world of MarTech comes with new, seemingly complex terms and lots of daunting abbreviations. Here's a brief list of some of the most important buzzwords to know while navigating MarTech.
CRM (Customer Relationship Management): Systems and platforms that help improve the customer experience. CRM allows brands to gather data about who their customers are, what their customers want, and how their brand to customer interactions are going. With this information, brands can use CRM to build stronger, more loyal relationships with customers—shoutout to MailChimp, Bantam's personal favorite CRM platform.
DAM (Digital Asset Management): Technology to streamline use of image and video media in marketing. As brands produce more and more content, it becomes vital that they manage their digital media. Better organization of files, graphics, or PDFs will give brands more control over their content and help them process its distribution—HeyOrca puts the DAM in Digital Asset Management, if you ask us. We recommend you take a look.
TMS (Tag Management System): This technology allows brands to monitor user activity and keep "tags" on digital properties. It simplifies the process of data customization, governance, and security controls - pull out the big guns for this one and use MeltWater to tag and track audience conversations online.
MarTech stack: A collection of marketing technology that allows brands to see how integrated their platforms are. A business could create its stack by using CRMs alongside DAMS with a few CMSs and any other fun MarTech acronym titles.
A lot of MarTech vocabulary refers to technology that digital marketers are most likely already using. Still, it's helpful to know the jargon to become more familiar with the ins and outs of this expansive ecosystem.
Where MarTech is Going
With such rapid growth of MarTech platforms and the increasing investment in the industry, it's hard to predict exactly how things will progress. There are speculations on how the industry's growth might be too rapid and ultimately plateau, musings on how AI will influence MarTech, and theories about technology and customer privacy.
Ultimately, as the industry grows, MarTech platforms and programs will become more accessible. Large corporations and small startups will be able to take advantage of new technology and gain better insight on how to improve their brand and customer experience.
Anyone involved in business can benefit from the seemingly endless ways MarTech makes digital marketing more efficient, streamlined, and better suited to customers. MarTech is the new landscape for basically all marketing. As complex and interwoven as it is, MarTech is an ecosystem worth exploring more.