Tuesday, July 16, 2024

Martech Stack: What Is It and How to Build One?

Scaling up a business is not easy. It involves the hassle of dealing with complex systems and managing teams to make sure things are executed well. After all of this, are you getting a good ROI, Or is your marketing team still struggling to meet the goals? Well, you can mitigate these challenges with the martech stack (marketing technology stack).

Martech stack is a set of technologies to assist the marketing teams by automating and improving their marketing efforts. The demand for marketing technology is in full swing today, as the spending on martech stacks in the U.S. is expected to reach $27.11 billion by the year 2024. So, if you are not using a marketing stack, you are definitely missing out on something huge!

Let’s dig deeper into the world of marketing technology stack to learn how you can use it for your business as you grow.

What is a Martech Stack?

The martech or marketing tech stack refers to the collection of tools and technologies used by marketing teams to manage and improve their marketing strategies efficiently. By using martech tools, the team can also measure and analyze the success of your marketing campaigns.

The martech stack aims to empower marketing teams by streamlining and automating their work while saving time. Martech stack has been doing good to businesses as well as customers because who doesn’t love fast and automated solutions?

Marketing technology stacks include SaaS marketing clouds, on-premises, attribution software, and homegrown systems developed by IT teams to meet the company’s objectives. These software are used to automate emailing, marketing, running ads, social media management, and SEO, depending on the needs of your business. You can choose your desired tools to help you with your marketing practices.

Examples of Best Marketing Tech Stack

From the ton of marketing tools available, you might be wondering what are the best ones. The marketing stack tools you should use largely depend on the type, size, and objectives of your business.

However, for general purposes like effective communication, seamless communication, and data analysis, there are many tools you can use to build a marketing technology stack. Let’s have a look at the martech stack examples:

1. Google Ads for SEM

For search engine marketing (SEM), Google ads are the easiest and the fastest way to get a response from displaying ads. It targets potential customers based on their interests. Your offerings will be displayed to the right audience, leading traffic to your website that converts.

2. WordPress for Content Management

WordPress is a go-to content management system (CMS) for building, managing, and maintaining websites without having to code. You can create, edit, organize, and publish content on your WordPress website without any hassle.

3. Ahrefs for SEO

Ahrefs is a tested and recommended software by experts for search engine optimization (SEO). It lets you use a variety of SEO tools for keyword research, link building, checking keyword rankings, and monitoring traffic. For driving organic traffic, Ahrefs is a great tool to automate SEO efforts.

4. Shulex Copilot for E-commerce

Shulex Copilot is a ChatGPT e-commerce tool and sidebar. It helps in offering AI-powered product research, listing optimization, keyword research, copywriting, article writing, etc.

5. Uberflip for Content Marketing

Content creation only makes a difference if you can get in front of your customers. That’s what Uberflip aims for. It is a content experience platform from content marketing to make sure your content is seen by the people for whom it is made. You can use it to create personalized experiences for your customers.

6. VOC AI Chatbot for Customer Engagement

Alternative to Intercom customers’ communication platform, VOC AI Chatbot is a chatbot to help you provide faster and automated customer service. Once you have set it up for your company and feed relevant data, you can offer customers automated and resourceful interactions. It also provides valuable customer insights for enhanced decision-making.

Why Do You Need a Martech Stack?

With the ever-growing technological advancements and marketing competition, the martech stack has become essential to all marketing operations during a customer’s life cycle. However, below are some reasons for getting a marketing technology stack for your business:

1. Improves Marketing Efficiency

When the martech stack is there to automate and complete all the basic processes faster, more efficiently, and with less expense, marketing teams get to focus on bigger and more complex operations. This eventually results in a greater ROI and better sales.

2. Automates Tasks

Marketing automation tools significantly speed up and automate manual tasks. Tailored according to your needs, they understand your tasks and execute them effectively. As the marketing experts of the industry develop these software programs, you get to use their best practices in your business.

3. Collects Customers’ Data

With the martech stack, you get an effective way to monitor how your marketing campaigns are affecting the decision-making of your customers. Every move of the customers can be recorded, and useful insights can be used to satisfy the customers. The better you understand their needs and mindset, the better you can strategize your marketing operations to drive greater profits.

4. Brings Innovation

Martech is constantly working to bring out innovation and creatively market the goods and services. New techniques and methods are being introduced to keep customers engaged and happy throughout the customer life cycle. These unique methodologies give you an edge over other competitors.

How to Build a Martech Stack?

To build a martech stack, all you need to do is choose the right tools based on your marketing goals. Every business works differently, so you have to build a unique marketing technology stack to accomplish your key objectives. Here are the steps to consider:

1. Define Your Marketing Goals

Get your marketing team on board and discuss marketing goals for the next 3 months or more. Let’s say your goal is to improve customer service, generate leads, improve SEO, or promote a newly launched product. List them down in a spreadsheet so it gets easy to understand.

2. Identify the Challenges Faced by Your Marketing Team

Next, you need to identify the issues your marketing team faces with the current marketing operations. Ask them what part of their work is the most time-consuming or difficult so you can find the exact solution for it. If replying to repetitive customers’ questions takes too much time, you know that you need to prepare an FAQ list or set up an automated AI chatbot to save time.

3. Prepare a Budget Plan

The most important thing is the budget that you need to spend wisely. Before you look for the martech tools, determine the amount you can easily spend on them. You can plan the budget to spend on a strategy, like $200 per tool. Or you can put an estimated amount aside for overall martech operation.

4. Look for the Martech Tools

When you know the problem, its solution, and an estimated budget, it gets easier for you to research the martech tools in compliance with the goals. Talking about customer service, one of the best tools to solve the issue is the Sulex VOC AI Chatbot at an affordable cost. Just like this, find other tools as well that you want.

5. Work on the Data

Next, you need to compile all the data so you can transfer all the files and required information to the tools you signed up for. You can categorize the data and assign each category to each of your marketing team members. It’s collaborative work that the marketing team can carry out efficiently.

6. Monitor the Growth of the Martech Stack

After setting up the martech stack, you need to keep an eye on the effect it is creating. Are all the tools working efficiently? You can analyze the performance and make sure the marketing campaigns are running smoothly with every tool. Or else, simply cancel the subscription to the ineffective tools and find an alternative.

Best Tips and Tricks for Martech Stack

Getting started with a marketing technology stack comes with a lot of challenges. The following tips and tricks can help you stay focused and boost productivity:

  • Focus on maximizing the potential of the tools you have rather than trying to jump on every new technology coming in.
  • Keep your marketing strategies as simple as you can. Break down your strategy into small achievable goals.
  • Don’t go for costly solutions. If you need to switch to another solution, it should not cost you an unbearable loss.
  • Keep all your martech tools information organized in a database or spreadsheet to measure the growth and track the record.
  • Choose the martech software that is easy to use, gets the work done efficiently, and provides effective solutions.

Wrapping Up – Build Your Martech Stack Today

Marketing technology is booming and urging businesses to build up their martech stack to leverage technological advancements to their fullness. Although building a martech stack might not be easy, you can significantly level up your marketing game with the right martech tools and strategies.

So, are you ready to boost your sales with the martech tools? Bring your marketing team on board and do it!

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