MarTech, or marketing technology, refers to a whole new branch of marketing that involves the use of modern technology to improve overall marketing performance. It includes different software, hardware, and data used in aspects such as supporting, measuring, and analyzing marketing activities.
Put simply, MarTech is how today’s businesses use various marketing technologies together or in a stack to be able to deliver a more tailored, holistic, and integrated user experience.
A MarTech stack has different complementary marketing applications and technologies that share data to make companies better equipped to run successful marketing campaigns.
In this blog, we explore the essential components of a marketing technology stack and how Tatvic Analytics – a one-stop MarTech agency – can help businesses build a winning MarTech strategy.
What are the Essential Components of a MarTech Stack in 2023?
As technology has evolved, there has been a rapid rise in the number of marketing tools available, making it challenging for businesses to choose the right tools.
To help companies navigate this challenge better, we will discuss some of the essential components needed in a MarTech stack in 2023.
The growth of AI-based chatbots in the past few years has been nothing short of phenomenal. Data suggests that businesses using AI-based bots increased leads by 50% and reduced customer call time by 60% to 70%.
The numbers clearly reflect how chatbots have become a very convenient way to track customer sentiments and how well they are engaging targeted customers.
Today, customers want to interact with brands in real time, and chatbots offer an excellent way to make that communication immediate and efficient. Developed by using a set of rules and artificial intelligence, chatbots can be easily interacted with via a chat interface.
Statistics also suggest that chatbots can be a great addition to companies’ MarTech stack, with more than 50% of users saying that being able to chat with a business increases their likelihood of buying from them.
Overall, the key reason behind chatbots being a great MarTech tool is that they offer an opportunity for businesses to begin engaging with their customers in real time and can encourage them to make the first move as well.
2. Scale personalization with data-driven marketing
Data-driven marketing continues to play a key role in defining the success of marketing strategies. At its core, data-driven marketing is specific, customized, and very strategic to a business’s marketing efforts.
Below are some of the ways companies use data-driven personalization strategies to improve marketing efforts and overall customer engagement.
Know the audience segments well
If businesses wish to strengthen their marketing efforts, they must make sure to know their audience segments well so they can cater to them in customized ways.
Gather all the data in one place
Collating all the data in one place enables businesses to create cohesive customer experiences across channels and touchpoints.
Understand buyer personas
Companies must use various data points, such as past purchases, browsing history, content engagement, etc., to build more comprehensive buyer personas to reconnect with their audience and encourage them to take action at the right time.
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How Tatvic Can Help?
Tatvic uses advanced segmentation models to connect the right viewer with the right content to increase the probability of the next action and hence the acquisition.
We gather all your marketing data into one place and garner relevant insights that directly impact your marketing spend; we do this by customizing your analytics implementation or using a data warehouse such as Google BigQuery.
Our data scientists analyze the data, identify key patterns and trends, and define audience segments using the different options within the Google Marketing Platform.
We can input custom definitions from other sources to help define audience types to personalize at scale.
Once we have identified specific audiences, we can use the integration features in Google Analytics to share these audiences with advertising platforms such as Google Ads, Search Ads 360, Display & Video 360, and other Google and non-Google platforms.
We can then test more personalized marketing campaigns, ensuring that we capture the right audience, in the right place, at the right time, and with the right messages.
3. Migration to the Cloud
In simple terms, cloud migration refers to the process of moving different services and applications to the cloud. Migrating to the cloud is an excellent way to achieve higher business agility without having to worry about IT infrastructure management.
Moving all the data, workloads, or systems to the cloud can lead to several benefits for marketing initiatives, including:
- Reduced IT costs
- Better scalability
- Easy disaster recovery
- Higher mobility
- More flexibility
- Enhanced data security
- Better document control
How Tatvic Can Help?
Being a certified premium partner of Google Cloud Services, Tatvic has been involved in many migration projects. In 2023, Tatvic is aiming to support more organizations to move to the cloud from their on-premises databases and servers.
4. CTV Devices and Ads
Recent data has revealed that more and more smart businesses are building CTV campaigns, with approximately 65% of marketing technology leaders also exploring or piloting technology to support CTV advertising.
But what exactly is CTV?
All broadcasted advertisements on television today can easily link to the internet. This kind of advertising is known as “connected TV” (CTV) advertising. CTV enable marketers to communicate easily with their target audience through connected TVs and OTT devices.
As other digital marketing channels are becoming more and more saturated, CTV ad campaigns can be instrumental in defining the success of your advertising strategy.
How Tatvic Can Help?
Tatvic’s data analytics expertise helps you determine the impact and ROI of CTV campaigns. By analyzing the data points related to viewability, completion rate, CTR, and conversion rate, Tatvic can provide insights into which aspects of the campaign are performing well and which areas need improvement.
With this data, Tatvic can also help optimize the campaign for the highest ROI. This may involve adjusting the targeting, creative, or placement of the ads and conducting A/B testing to determine which variations perform best.
You can make data-driven decisions to optimize your advertising strategy and drive a better result by leveraging data insights.
5. Email and SMS Marketing
Emails and SMSs offer an excellent opportunity for marketers to connect and engage with their consumers in new ways, using popular channels and devices that everyone’s already familiar with.
With emails and SMS, marketers have an interesting opportunity to interact with customers in more personal and relevant ways and help improve the customer experience and marketing ROI in the long run.
The MarTech or marketing technology landscape is rapidly changing today, with a variety of tools and technologies emerging every single day.
Adding the above-mentioned components to your MarTech stack ensures that it supports the right data, marketing campaigns, and overall business objectives, which are critical for success.
If you’re looking for a powerful marketing technology stack for your campaigns this year, partner with Tatvic Analytics, a well-known MarTech agency with extensive experience in the field.
As a leading full-stack Google Partner having capabilities in Google Marketing Platforms, Google Ads, and Google Cloud Platforms, Tatvic can help you efficiently navigate all your MarTech needs. Reach out to us to know more.