How to Build Up Your Best Martech Stack in 2021
Defining What is Martech stack
Martech is a combination of the words marketing and technology. A Martech stack is used to define the complete list of marketing tools and technologies being used by a company or business.
Here is how you can build up your best Martech stack in 2021:
Define your core marketing needs.
Without establishing what your marketing needs are, you will end up making uninformed decisions. These often lead to a loss in productivity and are not cost-effective in the short or long run.
To determine your marketing needs, first, identify what your team does at the moment and what it plans to do in the future.
The tools that you choose to add to your marketing tech stack need to help your team. They should automate repetitive and time-consuming tasks that your team has to do manually.
You do not want to add anything to your Martech stack that does not add significant value to your team or clients.
Focus on creating a strategy, then buy the tech.
As marketing professionals, your focus should always be on what you can do for your customers. The means you use to help achieve these goals should be a secondary consideration.
Creating robust marketing and advertising should be the first thing you do when you start working. After you have a detailed roadmap in front of you, you can then go on to pick and choose the specific ad technology needed to make it a success. Follow influencers implement their policies as they are successful so you can also benefit from their tactics following principle of reciprocal determinism.
Your creative strategy should reach for the same results with or without a technology stack. Technology is undoubtedly a tremendous aid, but it cannot supplement poor policy and strategy design.
Start by using a CRM.
When building a Martech stack, always start by using a CRM.
A customer relationship management (CRM) system is essential for marketing, sales, and customer support.
When your company grows, you will need to move past spreadsheets and adopt technology that will be able to scale with your ambition effectively.
CRMs are a step ahead of spreadsheets. They act as a central point for all your data needs. Maintaining a CRM is more convenient, and you don’t have to worry about opening different sheets to get the same job done.
Another advantage of using something like a cloud-based CRM is that you do not need to worry about having your laptop with you at all times. You can simply use your smartphone to get access to the data that you need.
Manage your content effectively.
Adequate content management has become a necessity for modern marketers.
With several clients on board simultaneously, it can be incredibly challenging to keep tabs on everything. Having a modern content management system thus becomes a necessity.
CMS like WordPress is beneficial. They are easy to use, and the community support for WordPress is superb.
Apart from this, you will need to ensure that you manage content and create visuals and other content that people would be interested in consuming.
Canva is a popular creative tool that marketers all overuse because of its convenience and simplicity.
Grammarly helps iron out any errors that your writing may contain. Avoid any critical copy errors from your content before sending it out for millions to see.
Determine the quality of your leads.
As a modern marketer, your focus should be on both the quality and quantity of the leads.
Businesses can profit when sales teams can close the deal. This is a lot easier when the lead is engaged and ready to make a decision.
If the leads your marketing efforts generate are not up to the mark, the business will not profit, and in turn, your position will be in peril.
Tools like Clearbit are a great asset. They help identify the quality of the lead and other data that support your sales teams close better.
Additionally, you might want to include a live chat app like SwiftChat that allows two-way communication between you and your potential customers.
But if you do not want to break the bank, you can always start using Google Analytics to get a better, more concrete idea of the engagement and attention people pay at different places within your website.
Find the right ad channels.
Running advertisements and spreading the good word about your business is an essential part of any marketer’s job.
There are so many options available for marketers to pick and choose from.
Google Ads is one of the most popular ad channels for marketers. People using Google have higher intent, and no sound marketer should intentionally miss out on this opportunity.
Social media ads are a must-have for any Martech stack. Not only do you get access to a large audience, but you also get access to analytics tools that help to scale and optimizations easier.
Other channels that you can look into are influencer marketing, sponsored posts on reputable sites, affiliate marketing, etc.
Make sure there are no gaps in your marketing technology.
By relying on several tools, you might have unexpectedly exposed your business to gaps in your marketing capability.
Your clients take gaps as weaknesses and lack of expertise. To give the best impression and ensure that your position in the market is maintained, you will need to create your Martech stack.
Have all of your bases covered by doing your research. Start adding technology to your stack gradually. Identify something that needs to be done and find the right tool for it.
Once you have a fine selection of tools available, you can then move on to find areas and features that these lack. Apart from some minor functionality or nice to haves, it will be best to eliminate any leaks for your offering.
Learn and train your team to use everything effectively.
For clients, exceptional results are the only things that matter to them.
Most could care less about the tools you have in your marketing technology stack. They want to grow their business, sell more products or services, increase brand awareness, or combine the three mentioned and then some.
Your team needs to be trained at using all of the tools available to your business. They need to understand and be able to demonstrate the thorough working of your Martech stack practically.
Over time, their expertise and experience can serve as a guide to recruits. It can also determine the future needs of your marketing tech stack.
Challenges in Martech stack:
While building a Martech stack has become a necessity nowadays, organizations face some challenges when doing so.
Although they might not seem catastrophic initially, in the long run, they can cause serious detriment not only to revenue but also productivity and coherency.
Here are some issues faced when creating a marketing technology stack:
Inaccurate needs assessment.
With so many tools floating around in the marketing space, it is not so uncommon for marketing professionals and businesses to mistake their core needs.
Nice to haves should only be thought about when you have a solid foundation for your marketing department, if at all.
You might see your competitors raving about a new tool that they have recently started using. But technology is not a one-size-fits-all.
You need to consider the benefit and cost it brings to your business. Have a concrete idea of your business needs in the short, medium, and long term for a comprehensive needs assessment.
Buying tools that are not going to be used.
As discussed previously, there is no shortage of marketing tools. More technology is being developed for businesses and marketers in particular.
In the spur of the moment, you might be inclined to purchase shiny new technology that all your marketing peers are using, but hold on for a minute.
Do you need to add something new to your Martech stack?
The chances are that if you have done your research right, you might not need to purchase unless there is something truly beneficial for your business.
Businesses often have several tools that they might have bought on the recommendations of their marketing teams. But the same teams hardly ever use these tools for whatever reason.
Having multiple tools that do the same thing.
Given that each tech company offers a variety of features, it is a possibility that different companies are providing the same valuable feature.
While that is not a problem, what is a problem is if you own two tools with the same features and functionality.
Ultimately, the tools in your marketing tech stack should serve as a means to an end.
By having similar tools, you are enabling the chance for confusion, not to mention the obvious cost that comes with using any marketing tool.
So, ensure that you are only buying tools after thoroughly reviewing their feature set with other marketing tools already in your arsenal.
Building a comprehensive Martech stack has become a necessity for businesses.
New marketing tools are flooding the space, making it a challenge for companies to pick and choose. To get the most out of your available resources, always have tools that boost your bottom line.
If any technology benefits your business or team, you should always consider adding it to your stack.
Remember that having more tools will not solve your problems. Although using the tools in your stack effectively will have a much better impact on your bottom line.