Marketing is a multifaceted endeavor for all businesses. It is important to consider different advertising channels, tools and data sets when determining a Martech stack that works for your business. In many cases, business owners lean on their in-house marketing team or outsource to a savvy marketing firm to stay current on martech trends and services. The Mar Dat team can provide martech stack advice and implementation services.
Let’s discuss what Martech means and examples of Martech stacks.
What is a Martech Stack?
Martech stands for marketing technology and a martech stack is the list of marketing software and technology used to advertise and retain customers. A well-developed martech stack provides the resources to analyze and track data, as well as automation of an organization’s marketing processes.
What are Some Examples of Martech?
Martech refers to a wide range of tools used in traditional and digital marketing. See below for a few examples:
- If you are tracking the progress of your SEO, or search engine optimization, you might consider tools like Google Analytics or SpyFu.
- For pay per click advertising, or PPC, you would use Google Ads.
- Content marketing can easily be produced and monitored through the use of a CMS, such as website content on platforms like WordPress or Squarespace.
How Do I Develop a Martech Stack?
To reap the benefits of a diversified martech stack, you must analyze your current marketing needs and identify gaps in your marketing solutions. There is no one size fits all solution when it comes to a martech stack, so it is important to weigh your current solutions against your ROI goals.
- Start with identifying your marketing goals: Choosing martech tools in a random manner will not benefit your team, as these tools and software accomplish very specific goals. Before selecting tools, you must identify your marketing goals. Questions to consider:
- What strategies do we currently have in place? SEO? PPC? Social?
- What types of data do we need to organize?
- Do we need to hire additional marketing team members?
- Are there additional strategies we would like to implement?
- Ask your team what challenges they face: Once you’ve identified your marketing goals, consult with your team about the challenges they regularly face. This will help give you some insight into what tools will be the most beneficial and also help increase efficiency across your marketing efforts. If for example, your team struggles with identifying organic keyword rankings, you can look for a tool that helps provide this information.
- Set a budget: Budgets rule every marketing plan. You will need to determine a firm monthly budget that fits your objectives.
- Research the tools you need: Once you have determined your needs and budget, it is time to research the products that will help you attain your goals. Keep a spreadsheet handy and list out all the different martech options that fit into your desired categories.
- Determine if there are non-marketing tools that would be helpful: In addition to your digital marketing needs, non-marketing tools can help streamline processes, organize data, and increase efficiency. These tools help with data storage and team communication.
- Compile all your data and prepare for transfer: Developing a martech stack is a good time to get everything organized across the board. If you have information living in different places, including even physical files, now is the time to gather up all your data, content, and other information and prepare to transfer it into a single hub where everyone on the team can collaborate on it.
- Create workflows for each tool: Once you have purchased the tools you are going to use in your martech stack, you need to create workflows. Creating workflows help assimilate the new tool into your team’s daily routine.
- Analyze the efficiency of each tool: Run a 30 day test to ensure you have the best tools in your toolkit.
Contact us today to learn more about how we can help you develop a martech stack that benefits your business and marketing goals most.