Demystifying Digital Transformation Part 2: How to Tell If You’re Ready to Invest in Martech
May 8, 2018
Take note, marketers: Technology has altered the marketing landscape for good. As digital transformation (DT) continues to disrupt traditional marketing models, the silos that separated brand managers, marketers and technologists have been knocked down. Their replacements? Hybridized tools and technologies—a.k.a. martech—that can create and execute data-driven customer engagement strategies at scale.
Understandably, many organizations face challenges adapting and keeping pace with these changes, especially as new tools arrive on the market. Navigating all the possibilities martech can offer your organization may seem like a daunting process. While it can be hard to know exactly when and how to invest in your martech infrastructure, putting in the effort to find the right tools for your organization is totally worth it.
In Part 2 of our four-part series on “Demystifying Digital Transformation,” here are four signs that your organization is ready to invest in Marketing Technology (martech) to support your overall DT strategy. (Read Part 1 here.)
DT issue #1: You need to understand how your customers are changing.
In the age of digital disruption, many organizations are playing catch-up when it comes to understanding consumer behavior. Marketing automation, whose features and functions can include everything from an abandoned cart email to real-time personalization, allows you to track the customer journey online and across platforms and devices. This helps you gain valuable insights into behavior and preferences. In turn, it enables you to create the relevant touch points and experiences that build customer loyalty and drive engagement.
DT issue #2. You’re using a ton of different tools to execute a single marketing plan.
If you’re already using a multitude of different tools to execute your marketing plan—for example, a CMS, an ESP, a CRM platform, a form builder, and an analytics tool—chances are you would benefit from a martech stack. The marketing stack allows all the different systems and tools you’re using to talk to one another. Once these systems are integrated, you can streamline and automate many of your core processes. That will help boost efficiency and accuracy, and allow you to more effectively track and measure campaigns that have many different integration points.
DT issue #3: You need to filter and prioritize leads for your sales team.
Let’s face it: As much as we marketers like to think otherwise, not all leads are created equal. Marketing technology offers a slew of ways to attract and cultivate the leads that will most likely lead to conversion. You can create nurture campaigns that identify and develop qualified leads, or rate/score leads so those with the greatest potential move through the sales funnel faster. That’s how martech can focus your marketing efforts to support your sales team and help drive revenue.
DT issue #4: You need to demonstrate ROI for social marketing.
Measuring return on investment (ROI) for social marketing has long been a challenge and goal for marketers and brand managers. After all, they need to connect the dots between money spent on social media and sales. Basic analytics can give you some of the insights you need to determine the effectiveness of a spend, like showing everything from click-throughs to on-site conversions. But good martech will allow you to go many steps beyond just standard reporting. For example, real-time monitoring allows you to automatically make adjustments to a campaign’s messaging or cadence as it’s happening. That, in turn, optimizes content according to individual customer behavior. In terms of ROI, you get more than data points. Martech tools give you the insights you need to prove value, while simultaneously helping you boost campaign performance.
Martech matters because it integrates and automates systems, platforms and data, allowing brands to scale their marketing efforts faster. That creates better and smarter strategies for reaching their customers—and helps you achieve the digital transformation you’re looking for.
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The Martech Enablement Series
Check out A Nine Part Practical Guide to Martech Enablement written by Peter Ladka and featured on Martech Today. In it, Peter shares an approach marketers can take to successfully enable martech within their organization.