Marketing technology news, trends and updates
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Using the right marketing technology can help businesses make the most of their efforts. Below we take a closer look at how marketing automation & technologies can help organizations.
Understanding marketing automation and technology
Marketing technology, also referred to as martech is the term used to describe a wide range of software, tools, and platforms. These tools, software, and platforms aim to support and help achieve marketing objectives. Most businesses make use of some form of marketing technology in their marketing efforts or in customer relationship management. Automation is one area of martech that has seen a lot of growth over the past decade. In 2019 the marketing automation software industry was valued at USD 6.1 billion. This number is expected to double by the year 2023. Below are some of the key areas of marketing technology:
The use of digital channels and platforms for advertising is a significant part of martech. Examples of martech advertising that most people are familiar with are Google Ads and Facebook advertising. The global digital ad spend is expected to grow to USD $389 billion in 2021. Increasing concerns over privacy and changes in legislation mean that there are going to be significant changes in how digital advertising works over the coming years. Subscribe to our newsletter and get the laters marketing tech news so that you can adapt your marketing strategies to suit the latest developments.
Data is essential for effective and informed decisions. But data without insights is not of much use. This is where analytics software plays an important role. Martech analytics can be used to better understand user behavior and how users are interacting with marketing content. Data is collected for CTAs on blog posts, the number of visitors, where visitors are coming from, etc. Analytics software then presents this data in understandable ways to marketing professionals. The insights gained from this data can be used to improve marketing campaigns and to demonstrate ROMI. Some popular martech analytics tools are Google Analytics, Adobe Analytics, HubSpot Marketing Hub, etc.
3. Content Management
A good content management system (CMS), can help businesses host, distribute and manage content efficiently. Most people associate CMSs with blogging. Many of the popular content management systems today were initially developed for blogs but today they have robust capabilities and must be part of every business's martech stack. A good CMS makes it easy for marketing professionals to manage the content on the business's website without the need for advanced technical knowledge or the need to engage with developers or programmers. Some of the most popular CMSs in the world today are WordPress, Joomla, and Shopify.
4. Customer Relationship Management (CRM)
CRM software is expected to earn revenue of USD 80 billion by the year 2025. Customers today have come to expect personalized and quality experiences when engaging with a brand. This has increased the need for CRM tools and solutions. A good CRM solution provides businesses with access to real-time customer data. Businesses can use this data to personalize the email they send to customers and provide better customer service. An example of how a CRM can be useful is in customer support. When a customer contacts customer support, the business representative will be able to see the entire history of that customer's interactions with the business. They will have access to when and what the customer has purchased. This allows them to provide better support.
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1. M. Moran, Mar 21, 'Marketing Automation Statistics: The Definitive List', Startup Bonsai [available online] available from: https://startupbonsai.com/marketing-automation-statistics/ [accessed Mar 21]
2. D. Anderson, Jan 21, '30 Statistics Digital Marketers Need to Know in 2021', Dialogtech [available online] available from: https://www.dialogtech.com/blog/digital-marketing-statistics/ [accessed Mar 21]
3. M. Taylor, Mar 21, '18 CRM Statistics You Need To Know For 2021', SuperOffice [available online] available from: https://www.superoffice.com/blog/crm-software-statistics/ [accessed Mar 21]