Ch. 1 Marketing Technology.pdf

Marketing information systems HAYEL ABABNEH – Al al-Bayt University Dr. Hayel Ababneh Dept. of Business Management Al al-Bayt University Ch.1 Marketing Technology • Content • • • • • • • What is marketing technology? Types of marketing technology What are the benefits of using marketing techn...

Marketing information systems HAYEL ABABNEH – Al al-Bayt University Dr. Hayel Ababneh Dept. of Business Management Al al-Bayt University Ch.1 Marketing Technology • Content • • • • • • • What is marketing technology? Types of marketing technology What are the benefits of using marketing technology? Marketing technology tips Web Analytics Marketing Technology Challenges To Be a Marketing Technologist HAYEL ABABNEH – Al al-Bayt University What is marketing technology? • Marketing technology, or MarTech, is a broad term that includes any technological tools that help digital or physical marketing teams complete their work. • MarTech often overlaps with advertising technology, or AdTech, which can automate or increase the reach of digital advertisement. • Adtech, or ad technology, is a broad term used to refer to the set of technology tools and platforms used to manage, serve and measure digital advertising campaigns. • Adtech platforms typically include services for ad serving, targeting and retargeting, analytics, and optimization. Ad tech is essential for digital marketing teams to reach and engage the right audiences. • The collection of marketing technology tools a company uses is called its marketing technology stack. HAYEL ABABNEH – Al al-Bayt University • Marketing technology is integral to many parts of the customer buying process. • Here are some ways these two intersect: • Awareness: As customers use social media, they may come across ads targeted to appeal to people with their demographics or interests. • Interest: When a customer searches for a product, the top results in their web browser are often determined by which company has the most effective SEO software. • Desire: When a customer reaches out to a business for information, that company may track them with lead management software. • Action: If the customer decides to make a purchase, the company would then track the relationship with customer relationship management (CRM) software. HAYEL ABABNEH – Al al-Bayt University Types of marketing technology 1. Analytics • Analytic tools help marketers understand the effects of marketing campaigns by providing data on the ROI for those initiatives. • Different types of analytics technology can help you • improve the effectiveness of your ad targeting, • the customization of your site and apps and • the customer response to your website. HAYEL ABABNEH – Al al-Bayt University 2. Advertising • Digital ad technology helps companies advertise their products and services more effectively. • This might mean using social media or internet search to reach a larger audience or targeting ads toward people in a certain demographic or group. HAYEL ABABNEH – Al al-Bayt University 3. Customer relationship management • CRM tech helps businesses build better relationships with current customers by tracking communication, processes, payment and orders in one application. • It allows companies to provide better service, make more sales to each customer and retain their customers for a longer amount of time. • Marketing departments may also use lead management software. This type of marketing technology is similar to CRM but helps when managing leads or potential customers who haven't made a purchase yet. HAYEL ABABNEH – Al al-Bayt University • What lead management stands for? • Lead management is the process of identifying, nurturing, and converting potential customers into paying customers. It involves tracking leads from the moment they enter the sales funnel, to the moment when the lead is converted into a sale. It is an essential part of any successful marketing and sales strategy. HAYEL ABABNEH – Al al-Bayt University • How lead management software works? • Lead management software is designed to help businesses capture leads and manage them through the sales process. • It helps to streamline the process of capturing and managing leads, from the initial contact to when the lead is closed as a customer. • It can also be used to track the interactions between a business and its leads. • Lead management software can capture leads from a variety of sources, including website forms, email campaigns, and social media. Once captured, the leads can be managed in one central location. • It allows sales teams to easily view and analyze lead data, and to assign leads to the appropriate sales reps. • The software can also be used to track lead progress, including emails sent, calls made, and meetings held. It can also be used to keep leads engaged until they are ready to become customers. • Finally, lead management software can also be used to generate reports, allowing sales teams to measure their performance and identify areas for improvement. HAYEL ABABNEH – Al al-Bayt University 4. Search engine optimization SEO • SEO software helps companies optimize their search strategy to help their products and sites potentially appear higher in customer search engine results. • SEO tech can analyze which keywords are currently performing well in your industry and help you create targeted content aimed at increasing web traffic. HAYEL ABABNEH – Al al-Bayt University 5. Email marketing • Specific services can make it easier to launch and optimize email marketing campaigns. • Services offer automation of email sequences for new customers, templates for creating emails, and management of customers' email addresses and preferences. • Email marketing technology tools also offer analysis tools including monthly reports, A/B testing and incorporation with push notifications and social media. HAYEL ABABNEH – Al al-Bayt University 6. Customer experience software • This MarTech can help companies maximize the effectiveness of their marketing strategies by testing the effectiveness of company websites, interfaces and applications. • Many customer experience applications offer A/B testing and personalization for different website visitors. • Customer experience software is used to help businesses track and manage customer interactions, including customer service inquiries, sales inquiries, and feedback surveys. • It may also include features such as customer segmentation, customer analytics, and customer relationship management. • It allows businesses to better understand their customers’ needs, preferences, and behaviors, and to provide more personalized and efficient customer service. • It can also help businesses identify and address customer pain points, optimize customer service processes, and increase customer loyalty. HAYEL ABABNEH – Al al-Bayt University 7. Content management • Content management tools are software applications used to create and manage digital content. They enable users to organize, store, and publish content in an efficient manner. • Content management tools can help companies manage their marketing and website content, or owned media, by making it easier to search, update, tag, create, review and edit that content. • Companies can use content management to track the performance of their content, including engagement metrics such as likes, shares, and comments. This helps them measure the success of their content marketing efforts and make adjustments as needed. • Examples of content management tools include WordPress. HAYEL ABABNEH – Al al-Bayt University 8. Content creation • A marketing department may also use marketing technology tools designed more broadly for the creation of content. • Software for graphic design, video and audio production, video marketing platforms and podcast distribution apps may all be necessary at different stages of advertising and marketing. • You may purchase these for just part of your team, especially if you have team members who focus on producing video, audio or graphic content. HAYEL ABABNEH – Al al-Bayt University 9. Social media • Specific marketing technology can make posting, responding and managing social media accounts more efficient. • Some social media tools also offer prompts for making content that appeals to your customer and profiling systems to understand who your followers are and how they interact with your brand. HAYEL ABABNEH – Al al-Bayt University What are the benefits of using marketing technology? • Here are some benefits of using marketing technology: • Increased efficiency: Marketing technology can automate some repetitive tasks, like sending customer emails and purchasing ad space, which can give marketers more time to spend on other tasks. • Better customer relationships: Marketing technology can make it easier to create relationships with your customers by helping you keep all their correspondence records centrally organized and remotely accessible, create email campaigns and incorporate customer preferences into your sales process. HAYEL ABABNEH – Al al-Bayt University • Better data analysis: MarTech tools can help companies understand their return on investment (ROI) more thoroughly, spend advertising money more efficiently and make more sales. • More agility: Marketing tech tools can decrease the time it takes to see and measure specific results. This means companies can more quickly decide to cut or end ineffective campaigns, invest in useful advertising techniques and reduce financial loss. HAYEL ABABNEH – Al al-Bayt University Web Analytics • Web analytics is the process of collecting and analyzing website data. • That includes how users find your site and what they do while there. That information can drive decisions about how to develop, meet and measure your goals. • From there, you can determine if your strategy for user experience is a success. HAYEL ABABNEH – Al al-Bayt University The Importance of Web Analytics • Web analytics is crucial for any business with a digital presence. • By developing effective analysis, you can measure the success of your key performance indicators (KPIs). • It's a data-driven way to make sure your customers are having the experience you want, and that your business is growing the way that you hope. • You'll be able to tell if they're engaging with the content you offer, or if it would be more effective to guide users through your site in a different way. HAYEL ABABNEH – Al al-Bayt University Types of Web Analytics and Their Uses 1. Click-through, scroll-tracking and heat maps • These are all methods of analyzing exactly how users are interacting with your site. • Click-through reports tell you the ratio of users who click on a specific link to the total number of viewers. • Scroll-tracking measures how far users are scrolling down a page. • Heat maps give you a visual look at the most popular and unpopular areas of your webpage based on how users interact with them. • All of these reports combine to give you a fuller understanding of how your site is being used and where there might be areas for improvement. HAYEL ABABNEH – Al al-Bayt University 2. A/B and multivariate testing • These are both methods of testing how changes to your page design might impact results. With A/B testing, you create two or more separate versions of your landing page. They can have subtle or significant differences. The data you get allows you to see which version is the most effective for your KPIs. Multivariate testing only alters specific sections of a page, but the goal is the same, to see which variation has the greatest impact on the user experience. HAYEL ABABNEH – Al al-Bayt University 3. Usability testing • This involves direct observation of a user's experience on your site. • You can do usability testing using either experts in your field or complete strangers. • Usability testing can show you if users can successfully complete a task and how long it takes. • It's a good idea to conduct this testing before a public release so you can catch any issues early. HAYEL ABABNEH – Al al-Bayt University 4. Customer satisfaction surveys • Internal testing can tell you a lot about your site. But it's also important to get feedback directly from your customers. By developing a survey, you can learn how they felt about their experience and how likely they are to return to your site. Keeping these surveys brief can increase the likelihood that users agree to complete them. Helpful questions can include the purpose for their visit if they were able to fulfill that purpose and how they would rate their overall experience. HAYEL ABABNEH – Al al-Bayt University 5. Keyword/SEO research • If customers can't find your site easily, you're starting at a disadvantage. That's why your search engine ranking is so important. Making sure you have the right keywords plays a big role in keeping you near the top. Researching keywords and search engine optimization strategies helps you identify which terms are seeing the highest volume of searches. That allows you to target the most popular topics for your content, increasing your visibility. Keyword and SEO research is important to do regularly because results frequently change. • HAYEL ABABNEH – Al al-Bayt University 6. Social media analysis • It's not just your main website that matters to your user experience. Your social media presence is also a big part of how customers find and interact with your company. Tracking how users are interacting with you on Facebook, Twitter and other social media platforms can tell you a lot about your audience demographics and their interests. You'll also learn how effective your messaging is at bringing users to your website. • Metrics that you can track include clicks, comments, shares and video views. Combined with the other analytics reports, you get a better understanding of the most effective ways to meet your goals. HAYEL ABABNEH – Al al-Bayt University 7. Competitive analysis • It's important not to focus too narrowly on your own site, but also to be aware of how your competitors are performing. A thorough competitive analysis helps you identify where you're already providing value and where there might be an opportunity for growth. • When developing your analysis, look for gaps in the market and identify any trends. Looking at direct competitors can give you the best results. You can examine how they market their products or services and check to compare your pricing, including shipping. From there, you'll be able to do a deeper dive into their content strategy, technology and how their customers are responding. HAYEL ABABNEH – Al al-Bayt University Marketing Technology Challenges • Implementing, maintaining, and optimizing your organization’s martech is not a simple, streamlined process. Rather, organizations should prepare to overcome a few key challenges before they can fully realize the benefits of marketing technology. 1. Selecting the Right MarTech Platform • Choosing the right platform is difficult since selecting a platform is more than finding the right technology - it extends into finding the right partner. Integrating a new system is often a challenge, and the process of working with internal and external stakeholders to roll out technology can create unexpected hiccups. HAYEL ABABNEH – Al al-Bayt University 2. Changing Company Culture • For many organizations, changing the way marketing functions can be a big challenge. Working with colleagues to get them trained on new platforms and workflows provides a hindrance to day-to-day activities. As Peter Drucker said, “culture eats strategy for breakfast.” Unfortunately, changing the company culture to utilize martech can often be a formidable obstacle for companies. HAYEL ABABNEH – Al al-Bayt University To Be a Marketing Technologist • Marketing technologists are becoming increasingly important in today’s environment. They use technology to combat issues facing their marketing teams. • Good marketing technologists do the following: • Use data to help their teams draft better campaigns and better creative • Analyze software capabilities within the needs of the organization • Function as the hybrid of marketing and IT • Develop legacy organizational systems as needed • Investments in Martech will become increasingly important as the consumer landscape evolves. With this in mind, marketing teams must ensure they are building out their martech stacks with solutions that offer ROI to the organization, while minimizing and roadblocks around deployment or onboarding that can lengthen time to value. HAYEL ABABNEH – Al al-Bayt University Thank you HAYEL ABABNEH – Al al-Bayt University Dr. Hayel Ababneh