Though often perceived as complex, a MarTech stack is simply a group of technologies that marketers can use to implement, analyse, and improve their marketing across the customer life cycle. These technologies enable marketers and brands to improve internal collaboration, truly measure the impact of their marketing activities, and effectively reach customers in more personalised ways.
Much of the problem with some of the misguided myths stems from the assumption that technology is an end in itself. The true value that marketing technology offers is in the strategies and approaches it enables marketers and brands to adopt, and in the way it can positively impact CX (customer experience).
A true MarTech strategy is bred not just by the marketing wing of brands, nor the digital & media buying teams. Instead a true MarTech solution requires collaboration by all facets of the business in order to ensure that a unified, single view of the consumer can be achieved.
A recent study conducted by Forrester Consulting across APAC indicated that brands are ready to start this journey with 35% surveyed indicating that they plan to invest/increase investment in CDP’s and elevate identity management practises. The findings stipulate that brands must now look for true consumer actions that are driven by data insight. When brands get identity right, it gives them a fighting chance to not only survive but thrive.
Whilst Australia has been commended for its data maturity, most brands do not effectively use insight and technology to create useful, relevant experiences for consumers. Studies by Boston Consultancy group, in partnership with Google, indicate that only 2% of businesses do this effectively, posing tremendous opportunity for data maturity frameworks for most brands.
It has never been a more appropriate time to consider investment into MarTech solutions, with recent success stories from large corporations such as Telstra reaffirming the benefits from a long term marketing and CX perspective.
While CDPs emerge as the holy grail, a solid foundation of identity is essential in allowing brands to deliver relevant messages while reducing waste, customer churn, and optimising return on marketing investment. ADMATIC is committed to providing integrated approaches to brand, with a strong focus on strengthening brand identity and customer experience.