Thursday, March 2, 2023

Your MarTech is Not What You Think

Any marketing plan's overarching concept remains to expand customer participation at every touchpoint. Discovering the value of a consumer over time is a proven approach to achieving marketing success. In the history of marketing, analytics and data have never been more critical.

Nonetheless, they've never been more out of date than they are now, as the focus of marketing moves toward developing high-tech, real-time platforms for engaging customers.

Why is modern marketing so contradictory?

The crucial component that powers every organization nowadays is information technology (IT). The amount of data being produced by big data and analytics is so enormous that it would be nearly impossible for marketing teams to process it all manually.

Now this is expanding super-fast. Typical MarTech elements include marketing automation, Customer Data Platform (CDP), and Marketing Performance Management (MPM). Prevailing MarTech trends, include:

  1. Data Unification
  2. The Administrator of Customer Information 
  3. Personalization
  4. Data Privacy

Are you measuring your MarTech Correctly? Really?? 

There are various ways through which you can measure the outcome of your MarTech, such as, but not limited to:

  • Customer Acquisition Cost
  • Lifetime Valve of Customers
  • Return on Investment
  • The Ratio of Traffic to Lead
  • Marketing Qualified Leads
  • Website Performance

To sum up, your MarTech combined with the recent set of technologies out there is more capable than ever of delivering excellent customer and employee experience. Well-coordinated execution and ability to digitally orchestrate the automation of services is required, that is aligned to business outcome.

Since the entire MarTech stack is automated, all its parts need to coordinate with one another. When working on a large scale, it's important to think about the big picture rather than just one component.


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