The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up with the latest trends and developments in technology. The growing number of AdTech and MarTech solutions poses growing challenges to marketers in terms of budget, staff, training and time.
Marketers therefore need to identify which solutions will deliver the best results for their company and consider which new tools should be added to their existing marketing technology stack. Our blog post reveals 4 measures that marketers can take to get the most out of the expanding technology ecosystem.
COMBINING MARTECH AND ADTECH DATA
While Martech (e.g. Email marketing) is primarily used for existing customers, AdTech (e.g. AdServer, Programmatic Advertising) tries to reach new and anonymous target groups. Today, both are indispensable tools for any advertising company.
The systems can benefit from each other's advantages. For example, the technologies can converge when valuable data from core systems such as CRM flows into programs such as email marketing, search engine marketing or display advertising.
CMOs must combine different data sets in order to gain insights and use it to improve marketing campaigns. Consolidating this data enables marketers to gain a holistic view of their consumers’ journeys.
USE BENEFITS OF ARTIFICIAL INTELLIGENCE
When evaluating new technologies, marketers should ensure that tech vendors include Artificial Intelligence and Machine Learning in their product roadmaps. AI and ML can identify and produce insights from huge amounts of data on a scale that people can't reach. Today, 70% of all advertising companies already use AI systems for data analysis.
The ability of AI and ML to think and act faster enables CMOs to collect the real-time data they need to respond quickly to changing consumer behavior. Especially in online marketing, data analysis is an important part of responding specifically to the needs and desires of customers. The aim is to reach the right person, with the right message, at the right place and at the right time.
More information: Personalization - Refining the Customer Experience with Machine Learning
MOVE AT THE SPEED OF YOUR DATA
Digital programs depend on fast decisions. Marketers need to optimize channels on a daily basis with accurate and up-to-date metrics.
The speed of decision making depends on the product category, the frequency with which the product is purchased, the length of the consumer's thought process, the size of the business, the objectives, and available budget. But the need for data to be available in near real-time affects all company sizes.
Data-driven attribution solutions that update their models and metrics on a daily basis can help you make decisions about optimizing channels and actions in near real-time.
A HOLISTIC VIEW OF YOUR CUSTOMERS
The goal of AdTech and MarTech is to help marketers reach the right person, with the right message, in the right place, at the right time. This approach requires the ability to identify users across multiple channels and devices.
In today's networked world, marketers can hardly rely on cookies to capture and understand the entire customer journey of their consumers. Taking a people-based approach means looking for a technology that accurately recognizes who individual consumers are and how they behave across multiple devices.
Every year, the requirements for the implementation of new technologies increase significantly. Taking advantage of the opportunities offered by MarTech and AdTech innovations requires courage, insight and some technical skill on the part of today's marketing managers. Our tips enable marketers to get the most out of technology and optimize their marketing accordingly.