The Power of Martech is Growing!
Martech is a real force to be reckoned with in the marketing world. The clue is in the name; Martech is essentially the process of improving certain aspects of marketing through the utilisation of technology.
Back in the day, marketing strategies were created by using a trial and error system, which can waste a business’ money and time. With Martech, companies now have a (not so secret) weapon, as they can use emails, CRM platforms, web analytics, search, social media, and data analytics to formulate a detailed understanding of their customer behaviour. This allows businesses to create well-thought-out marketing plans within a shorter time frame.
With this data collection, Martech helps marketers target a broader audience through their campaigns, allows companies to acknowledge and eliminate any problems quickly, and also helps businesses pinpoint and improve ROI.
Businesses across the globe have clocked onto the benefits of Martech, and are integrating it into their marketing models in the hopes they will reign supreme, while being able to meet more customer needs.
In 2013, only 9% of Fortune 500 companies had a working Instagram account, but now, in 2018, over 50% of these companies have one! On top of that 75% of Fortune companies now have a YouTube account and around 10% have Snapchat.
One success story which has Martech to thank is the company behind fidget spinners.They became a worldwide sensation through social media channels, which companies responded to incredibly well! Some people found them annoying, some enjoyed them, some people even found the craze pointless, but what this global phenomenon should show is how important it is for companies to have a presence on the right platforms at the right time, as businesses could become an overnight success story!
It’s of vital importance for companies nowadays to use technology, as they could lose valuable customers in this drastically-changing marketplace pretty damn quickly. Companies may sink or swim based solely on the strength of their Martech business model. So get building an indestructible one now!