We see this second piece of our Business Maturity Model and as an important part of your strategy to execute. Does your business have the right set of tools available to implement and automate critical elements of your marketing strategy?
I did extensive research on 7000 websites, comparing their marketing technology over a period of two years. It resulted in this article on Think with Google about some of the trends in Marketing Technology we were seeing in the United Kingdom. We learned a lot about what tools gaining market share and what tools were loosing, and how to asses a specific sector and whether or not businesses were actually using the tools.
Roughly, marketing tech can be split in these three areas.
Web and app analytics
- Are you able to track customer journeys across all your digital assets? Is offline data integrated into your tools?
- Are these tools integrated with your media buying efforts?
- Have you set up goals and are you evaluating all marketing efforts towards a jointly agreed set of KPIs?
Media buying technology
- Do you have the right buying platform for your marketing goals? Are you integrating different channels so you have one unified view across channels?
- Is your ad tech tailoring messaging based on the data and behaviour of the audiences you are targeting?
- How are you scoring versus your competitive set in terms of media mix and marketing technology used?
CRM and Automation
- Are you using all of your customer data to leverage your marketing strategy?
- Are there patterns in customer lapse, retention and acquisition that we could use to drive stronger performance?
- Have you automated these processes? How long does it take for (predictive) data to feed into your automated marketing strategy?
Organisations that score well on the above questions have the right set of tools to support their marketing goals and execute on their connected data. They use data to efficiently pull customers through their funnels into their stores or onto their digital assets. Marketing tech tools allow successful businesses to automate the use of data to use the full potential of marketing automation.