Lecture 5 Flashcards
What is the MTS? (Martech System)
Grouping of technologies that marketers leverage to efficiently execute marketing activities across multiple channels
The focus of martech is to
simplify processes, measure the impact of marketing activities and drive more efficient spending
Depending on a company’s size and needs, MTS can come in different
types. A standard Martech solution may include:
Email marketing platform
Social media scheduling tool
CMS to hosts company website
Analytics tools
CRM software
Why is Martech Important?
- Companies are concerned with staying ahead and taking advantage of new digital technology trends
- Marketing technology landscape is rapidly evolving, with hundreds of different software technologies available
- Marketers need to have a clear understanding of which technologies are fundamental to their business goals and how they can help positively affect their business
STAYING AHEAD
RAPIDLY EVOLVING
CLEAR UNDERSTANDING OF TECH NEEDED FOR BUSINESS GOALS
The Martech space is in the midst of an
exponential growth curve
In 2011, there were about 150 companies geared toward marketing technology. In 2016, there are almost
4,000
Gartner predicts marketing technology budgets will __ IT budgets by 2018
exceed
Martech is a Very __ Field
Crowded
Martech Pyramid
Top to Bottom:
Identify Channels
Advertising Platforms
Search & Modeling
Experience Optimization
Insight & Analysis
Multichannel Marketing
Practice by which companies interact with customers via multiple channels, both directly and indirectly, to sell them goods and services
Over the last 5 years, brands have fundamentally changed how they communicate with their customers shifting from single-channel approach to a
seamless experience across all devices
Rather than tailoring their approach to multiple individual touch- points, marketers are providing customers with
a single coherent view of their brand
In this scenario (Multichannel Marketing), the key to success is
“delivering the right message, at the right time, and to the right person”
The Right Message
Added value for client
Not just selling
To The Right Person
Personalization
Segmentation
At The Right Time
Observing Behavior and Life Cycle
Calibrating Message Frequently
Through the Right Channel
Respecting User Preferencs and Habits
Creating a fluid omnichannel experience
Barriers to success with Multichannel Marketing
Hurdle #1: Content Conundrum
Hurdle #2: Martech Disconnect
Hurdle #3: Deluge of Data
Hurdle #1: Content Conundrum
• Marketers are pressured to improve the
quality of their content
• The growing array of platforms and multi-
channel approach are squeezing budgets
• On average firms leverage 6 touchpoints
Content Conundrum: Solution
Personalized content
Leverage Martech for content
optimization based on customers data
Hurdle #2: Martech Disconnect
• A greater degree of collaboration is
required between Marketing and IT
- Only 42% of the martech decisions are being made jointly
- Lack of collaboration is reducing the ability to deliver a smooth omnichannel experience
- 51% of marketers claim to be unable to react to new channels and devices due to outdated tech
Hurdle #3: Deluge of Data
- Marketers are flooded with information
- Unfortunately most marketers still don’t know how best to use it
- In some instances is simply a lack of tools, with 36% of businesses lacking a CRM and 62% a marketing automation tool
Digital Marketing Channels
Display Banner
Typed/Bookmarked – Direct Load
Social
Paid Search
Natural Search
PLA
Affiliate
Search and Banner Ads represent
~69% of Digital Media spend
Website Metrics
Traffic Sources, Visits, Unique Visitors,
Conversion Rate, Page Speed, AOV, UPT
Email Metrics
Receive, Open, Clicks, Bounces, CTR, Conversion, File Health
Social Media Metrics
Impressions, Reach, Engagement, Share of Voice
3rd Party Advertising Metrics
CPC, CPM, Leads, Clicks, Conversion, CTR
Direct Channel Metrics
Sales Engagement
ROI
Cross-Sell
New Customers
LTV
Retention
Existing Customers
Indirect Channel Metrics
Brand Awareness
Consideration
Prod Conversion
Reach
Brand Sentiment
