Marketing technology (MarTech) tools have changed how marketers make and run online campaigns. Many digital marketing efforts would be a mere shot in the dark without analytics and data for research and measurements. Several tools are available for modern campaigns that provide special features and niche options that will make all marketing campaigns a completely traceable possibility.
Marketers are investing heavily in MarTech tools to ensure they keep up with the latest digital trends and consumer demands for engaging consumers. However, is there a way to know how marketers can increase their chances of successful MarTech investment? How is it guaranteed that they are making the most out of their investment? Marketers should calculate how their tools serve their needs and work with diverse stakeholders to establish what is possible through the MarTech stack and future goals.
Importance of Marketing Technology
Utilize marketing technology data and tools. It is the best way to ensure that your campaigns are being tracked to show challenges and campaign growth areas appropriately. For example, when you use marketing attribution tools, they can offer marketers countless insights into the buyers’ path to purchase. With attribution and measurements, marketers will get clear answers on crucial metrics they want to track, like clicks, conversion rate, and return on investment.
Some MarTech tools like these give marketers the authority to track opportunities and successes. However, many marketers face challenges in making sure they are using all tools in a proper way that drives return on investment (ROI) and maximizes value.
Choosing the MarTech Stack
It’s important to understand how all the data you’re collecting will work together when choosing the type of technology you want in your marketing stack. Please don’t sign up for a new platform or a piece of software without knowing what makes it unique and essential as compared to the tools you already have. Also, see if you will be able to utilize the information from separate devices in an organized way.
Additionally, new tools can provide demonstrable ROI and excellent benefits. Just because a particular thing is trendy does not mean it can make a decent investment, especially when marketers are increasingly asked to demonstrate their tools’ value. As a result, marketing teams must explore tools that can offer media spend optimization.
Understanding the Unique Value Propositions:
It’s relatively easy to get caught up in the excitement of a new release in an industry where new tools are developed almost every day, especially when it has features you haven’t seen. However, this doesn’t necessarily mean that new tools are different or better than what you already have. Review all software and data collection services offered before adding them to your MarTech stack. Also, ensure that you’re getting
something that cannot be collected from what you already have.
In several cases, tools that collect data that can’t be gathered using existing methods are worthwhile. For example, most marketers use an SEO suite to review competitor information and track and evaluate their data. Several of these tools use proprietary data collection methods, which you cannot imitate on your own. Marketing optimization and measurement software make for a good investment for the very same reason. Marketers need tools with processing power beyond the speed of what can be done manually to achieve real-time insights. You can also evaluate tools that offer data points and similar other features for deciding what works best for you.
Evaluate Your Current Capabilities
Instead of being on the hunt for a better, more comprehensive tool, audit your existing tools to see and understand how you can leverage them differently to take advantage of what they have to offer and maximize ROI. You may be surprised to know that, with just a few changes here and there, your existing tools can and will provide you with the kind of data you have been looking for yourself. For example, advanced marketing analytics platforms used for attribution and tracking engagements can also offer insight into messaging, creativity, and brand perception when all of the features are combined.
Stay Updated with New Features
It is often noticed that a new tool will always catch our eye, even though they are already given this feature under a separate section or name that we overlook. Ensure that you have subscribed to the product update mailing list or the email newsletter of all paid tools to know about the availability of new features. You can also follow the brand or product on social media.
Many times, a marketing tool will release a new feature that can improve the work that’s already being done. Now it may make new initiatives possible for clients or its company. Also, knowing what’s new can help marketers stay focused and competitive in the long run to make better decisions through better data analysis.
Final Thoughts
Marketing teams must make sure that they are maximizing the value of their digital marketing investments. Members of the teams across job functions should be trained to do this effectively. Understand how to discover new opportunities and what is needed from their tools. This awareness will also make marketing teams more adept while selecting a new tool to understand the gaps in capabilities better.
Would you seek professional assistance in searching and selecting the best marketing technology platforms that can support and augment your marketing and overall business operations while increasing the scope of ROI?
Our expert MarTech professionals can guide you and your MOP team – upon hearing from you! So, just drop us a message via Contact us, a “Hello” at info@marrinadecisions.com, or you can DM us on Twitter, or LinkedIn.
Read more: How to Choose the Best Marketing Automation System for Your B2B Marketing Operations
