What is Martech?

If you’re a keen observer, you might have noticed strange coincidences on social media and other search platforms.

That gives you a sense of nostalgia.

For example, you might have been talking to your friend on Instagram about, what is the best web hosting service provider for a startup website.

And the next thing you know you see a sponsored Instagram advertisement, like this:

This micro targeting at its best.

Social media and other platforms like Google, gather massive amounts of user data each day. They track us in multiple ways, and they do it so well, that we don’t even realize it happening.

 

For example: You can see what data attributes Google collects from users in, Google Ad Settings.

 

These data attributes sum up to create unique, personalized digital profile of users, based on search results and online behavior.

These lakes of data are then processed, cleansed, analyzed and streamed by data analyst and data scientists using, big data analytics, AI, Machine leaning and other technological trends, to create sophisticated algorithms which google uses to micro target ads through the google ads network.

It is the same story with Facebook Ads, as well as dozens of other Ad automation and delivery platforms.

This is leveraging Martech for advertising.

So, if you were one of the wonderers, now you know it is marketing technology in action.

Martech Defined

In definitive terms, Marketing Technology, also known as MarTech, is simply the digital tools, software and technology integrated to perform any function of marketing.

With 59% (4.8 billion) of the world population online as of October 2020, and with users worldwide engaging, buying, reviewing, querying, in over 200 online networks and platforms. Marketers find it hard to identify, anticipate and satisfy diverse consumer needs and expectation subsequently with delivering excellence in consumers online experience while achieving business objectives.

The answer is MarTech.

 

Importance of Martech for Marketers

MarTech makes lives of marketers easier with the availability of these digital tools and technologies.

Here, MarTech is defined as tools or technology because, MarTech on its own is a digital enabler, which fully relies on the skill of its wielding marketer to harness the full potential of his or her Marketing Technology stack

This mix of technology driven tools and techniques is what optimize marketing efforts and drive the digital marketing strategy across digital channels, to ultimately achieve marketing objectives through streamed lined process and scale.

These tools enable marketers to execute marketing campaigns with a clear plan to track and analyze campaign performance, monitor and control, collect data and apply the in remarketing and future campaigns.

The mix of digital tools and techniques that is used by a company is referred as a company’s marketing technology stack or Martech Stack.

Let us look at another practical example of Martech used in the real world:

Maybe you subscribed for emails from a certain service provider?

Have you noticed, even though they have hundreds of thousands of subscribers, you may be receiving personalized emails addressed personally for you, like this:

This is leveraging the power of email marketing through email chain automation, email generating software and the use of AI.

What you have sensed here is two first-hand instances on how organizations leverage the power of Martech in real-time.

To optimize consumer experience, decrease cost per conversions and boosts up growth.

In Summary, it can be said that AdTech and Marketing Automation is all sub elements of, Marketing Technology.