Choosing the Right MarTech for Your Needs
Jetpacks, hoverboards, androids — for many of us, the future is defined by technology.
Fantasy aside, the future of marketing is also defined by technological advancements, and with today’s MarTech, the future of marketing looks pretty interesting.
Today’s MarTech has almost limitless capabilities. From managing content assets and social media to in-office solutions streamlining team workflow, MarTech has a place in every business.
A Burgeoning Industry
MarTech is simply any form of software used by marketers to perform tasks like organizing marketing campaigns, reaching out to customers, and posting to social media sites.
As an industry, MarTech has been experiencing a major boom over the last decade. In 2011, there were less than 200 businesses defining themselves as being focused on MarTech. Today, there are thousands, all constantly evolving to meet marketers’ demands with smart solutions.
These solutions expand into all facets of marketing, for example:
- CRM and MRM software
- Chatbots and AI to interface with customers
- Automation of social media posts
Much like apps for your phone (and some MarTech solutions are apps for your phone), if there’s a possible need, there is more than likely a MarTech solution to meet it.
How to Choose
Regardless of your industry, there are two major forms of MarTech: point and suite. Point solutions focus on one specific marketing task, like managing contacts. Suite solutions focus on large goals involving multiple marketing tasks, like managing contacts, organizing them into segments, and reaching out with pre-determined correspondence.
It’s important not to go all out with MarTech suites just for the sake of having options. Although plenty of MarTech offerings, like the social media manager Hootsuite, for example, are relatively inexpensive, other options (particularly custom MarTech solutions) can come with high price tags. In short, be sure to purchase by necessity and purpose.
Don’t fall into the trap of purchasing MarTech solutions simply because they’re considered “industry standard” or used by your competitors. There’s nothing wrong with looking to others to inform your decision, but MarTech is not the place to play “keeping up with the Joneses”.
When to Explore New Options
MarTech should be a tool you use to streamline, operationalize and be efficient. By doing so, it creates more options and opportunities to market at-scale, and not force you into playing to limitations. When evaluating or reevaluating your available MarTech solutions, consider the following:
- Are your MarTech solutions scalable?
- Can you adapt your MarTech solutions to changing goals?
- Are your MarTech solutions comparable to new technologies?
If you answered no to any of these, it’s likely your MarTech solutions have become obsolete.
The Era of (Mar)Tech
The future is defined by technology, and MarTech is the future of marketing. If you’re not already embracing MarTech and adapting these varied and customizable solutions to your business, you’re living in the past.
Remember, explore your options and be critical of them. Make sure that your MarTech can adapt to you and evolve as you do. After all, the ability to pivot is essential to the future of marketing. Your MarTech should reflect that.
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