What is MarTech and do I need it?

What is MarTech and do I need it?

by Katherine Fraser December 05, 2019

If you find yourself wishing you had a few more hours in the day to get things done or are spending way too much time working 'in' your business and not enough time working 'on' your business, marketing automation could be the answer. Microbusiness owners like us spend hours every day completing administrative tasks - responding to emails, writing social posts, updating stock lists... you name it, we do it! 

What if we told you there was a better way?!? 

Marketing technology (or MarTech as the cool kids say) is simply harnessing the power of software to perform marketing functions. Good MarTech will save you hours of time by assisting with the planning and executing of marketing campaigns and tasks. Some of the best ones will also collect and analyse the results and use AI to apply insights to future campaigns. Pretty cool hey?

You likely already used MarTech software in your business without knowing it is actually MarTech. Use a CMS to run your website - that's MarTech. Or do you use a platform like Hootsuite to schedule your social posts - yes you guessed it that's MarTech. 

The real power of MarTech isn't in the use of a single application (although they can indeed save A LOT of time) but in the building of what we call the MarTech Stack. Think of the 'stack' as how all of the pieces of software work together to share information (data) to achieve a seamless marketing experience.

There is no one single piece of software that can do it all, the software giants are taking a crack at it, but until someone manages to solve this incredibly complex, evolving beast, marketers can pick and choose what software they want included to perform which function. Sort of like building your own whooper - the way you like it. 

Now you might say that is great - where do I start? It can get a little tricky to navigate your stack as software rarely just performs one function anymore. The good news is that as self-confessed MarTech nerds you can book in a complimentary 15 minute chat with us and we will help you work it out.

If you plan to go it alone my #1 piece of advice to anyone considering investing in a MarTech Stack is thinking about what you already use and build from there. Don't just go out and start acquiring new software as it can take a lot of time and effort to integrate it successfully with your existing systems and the whole purpose of this exercise is to save time!

The most common problem in micro-business is having data in multiple places that require manual searching for each time it's needed. 

For example, if you use  Xero as your accounting system and you have spent years mastering it (and are happy with it) start with that and spend a few minutes brainstorming if you currently spend any time manually moving data from Xero to other systems. 

Likely, to chase a client for an overdue payment you start in Xero but end up having to switch to another system (or even worse a manual business card holder or excel spreadsheet!) to get the customer phone number and email to get in touch with them. This may not seem like that big of a deal and you have accepted it as part of doing business, but if you want to scale up that simple task will soon be multiplied by hundreds of customers and will burn valuable hours. Investing the time and energy to set it up when you are starting out will save a lot of time, money and pain as business booms!

To build your stack and solve this admin burden, search around for suitable integrations or upgrades and consider what other tools will help you manage customer records in a single source that 'connects' to other systems without the need for manual copying/pasting or searching.

The best things about MarTech is that new players and integrations come onto the market all of the time, so even if the perfect solution for you doesn't exist today if it's a common problem customers face you can bet it's a developer 'to-do list' somewhere.

If you have any questions or comments about MarTech or your business could use with a little digital marketing LOVE get in touch with us today.

 




Katherine Fraser
Katherine Fraser

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