Most likely, you’ve been hearing a lot of buzz about new “martech” (marketing technology) products that promise to transform your small business or enterprise. But how much of that is hype and how much of it is grounded in fact?
If you are simply thinking about martech in terms of new standalone software that can be installed, then you are likely to be disappointed. Software by itself won’t solve your problems. That’s why successful business owners think of martech in terms of a “stack” of products that work together and complement each other. You can think of this martech stack as the core of every single business development or sales initiative. That, of course, leads to the natural question: which martech products are effective enough to be included as part of your stack?
" Successful business owners think of martech in terms of a stack of products that work together and complement each other "
Most small businesses rely on email marketing as a key component of their overall sales and marketing strategy, so it only makes sense that this is an area where martech products can play a very important role. Email marketing solutions can help you create, launch and track new campaigns. Moreover, they can enable you to segment your lists of customers into different groups, so that you can message each of these groups separately.
In the best of all worlds, your sales reps and business development leaders would be constantly talking with potential clients and lining up new deals, right? But the reality is that they probably spend a lot of their time with mundane tasks, such as scoring leads, scheduling meetings and following up with potential customers. The good news is that new marketing automation tools can help to automate all of these mundane, rote tasks, thereby freeing up time (and, no doubt, energy) of your sales and business development teams.
Social media marketing
Just a few years ago, most companies simply turned to a college intern or entry-level employee to handle all their social media marketing needs. But social media has grown up, and that has led to a new suite of products that make it much easier to publish content, monitor social media conversations around the web, and discover new trends and ideas hidden in thousands of posts, updates, and likes.
Now more than ever, data analytics is a source of competitive advantage, so it’s perhaps no surprise that powerful new analytics and data tools are now part of most martech stacks. The idea is simple yet also incredibly powerful: if you have a full, 360-degree view of all the data your enterprise is producing, you can stay one step ahead of the competition and discover profitable new expansion opportunities. It might be the case that you are thinking about your company’s core customers all wrong. Instead of thinking about customers only in terms of demographics (age, gender, income), it might be much more powerful to think in terms of psychographics (interests, preferences, behaviors, goals). Data analytics can help you make that transition.
Of course, every small business, entrepreneurship venture or enterprise is unique. And that means every martech stack will be unique. But by keeping in mind these core elements of every great martech stack, you can stay focused on the martech products that are most effective for enterprise business development.