Technology has been the key for the phenomenal transformation in marketing. It has made marketing outcomes quantifiable, driving actionable insights. As a result of widespread internet penetration, digital media has emerged as a marketing medium that organizations cannot ignore. Real-time communication through digital further connects with the audience of today, ensuring a wider reach and seamless experience. No wonder, according to Gartner 2015-16 CMO Spend Survey, a substantial 33% of marketing investments are spent on technology.
Software product companies on their growth journey face an uphill task when it comes to marketing. They tend to focus on very specific audiences and markets, face great competition, and are limited by budgets. Digital marketing can give software companies measurable results, great insights and scale faster. But without a method to the madness, the results and effectiveness can wither away. This is way MarTech comes into the picture.
Marketing Technology or MarTech is the fusion of marketing and technology. It can help companies target potential customers with more personalization, gauge success of campaigns accurately, and gather data to make better marketing decisions and use available budgets more effectively.
MarTech tools can help companies throughout the entire cycle. Your marketing technology stack can be very lean or large depending on the scale of activities, size and needs of your business and the ability to manage them effectively. Here are a few examples of tools that can form your basic marketing stack.
Web analytics platforms enable companies to track metrics for website vists, apps, campaigns,etc. helping in analysing the receptivity of the target audience to their websites and apps. This helps companies to introduce the necessary changes in their websites accordingly. Heatmap applications such as Ptengine offer insights on the visual presentation of the website and measure the length of their stay on the website. User-friendly tools aid organizations, especially start-ups, to host websites without expertise in coding, helping in reducing investments. Affordable website personalisation services benefit small organizations in personalising their websites to enhance brand appeal and ensure wider reach and engagement. The automated features of these SaaS products recommend relevant content that is best suited to their products and the industry that they specialise in.
Email Marketing Platforms
Sending emails individually to employees, target audiences and stakeholders is a tedious task. That’s where automated email tools present a smart marketing solution to organizations. What’s more, these platforms enable companies to even personalise their emails. Automated tools comes with a built-in CRM tool, enabling businesses to automate email campaigns, mobile message blasts to email subscribers.
Well thought-out web content is of utmost importance since it is one of the most important factors that create a first impression to the visitors. Content that is in sync with company ethos and specialisation goes a long way in ensuring customer engagement. Landing pages integrated with Display and search Ads, along with native content like video channel and blog is essential.
For B2B companies, which have long complex sales cycles and multiple decision makers, marketing automation is a highly critical tool. one of the critical tools to help you prove your ROI is marketing automation software. Marketing automation holds a lot of promise and when used effectively, marketing automation, along with CRM, can bridge the gap between marketing and sales.
It brings all your marketing activities together and includes analytics, online forms, visistor behaviour tracking, personalizing content, managing email campaigns, lead scoring, automated alerts, etc. It not only helps you to get an eagle eye’s view of your overall marketing performance, but also drill down to specific metrics to optimize the performance of individual marketing activities. Hubspot, Marketo, Pardot, Act-on, etc. are examples of some great marketing automation tools.
Monitoring and Listening
If your software product company has a large audience base - this can be potential customers, users, employees – online monitoring tools can help sift through conversations online about your brand, your products, your audience and your competitors. While monitoring tools can help you understand the sentiment for your brand and track what the competition is doing on digital, they can also double up as online research tools which can figure out areas of interest for your audience and help you plan campaigns better.
These tools just contribute to the tip of the iceberg that is MarTech. As you scale up, it’s important to bring in more tools to your marketing stack. And when it comes to MarTech, start early and scale early!