What is MarTech? Integrating AI, Analytics and Automation in SaaS

It seems that, for anyone involved in the marketing industry, everywhere you look, there’s a new “martech” tool promising to revolutionize the way you work. 

The State of Martech 2024 reveals a 27.8% increase in the number of products on the market. A look at the past 13 years, though, is what truly brings things into perspective – the landscape’s dramatic growth from 150 products in 2012 to over 14,000 in 2024 shows that martech is here to stay.

But what is martech, exactly, and why is it necessary? Below, we explore the key details about the martech landscape that businesses and marketing professionals need to know.

What is MarTech? Definition & History

“MarTech,” or marketing technology, is a broad term used to describe tools and services that fuse marketing and technology. More specifically, martech usually refers to technology that’s designed to assist marketers and help them efficiently plan, execute, and assess their campaigns.

The tools that fall into the category of martech can range from data analytics solutions to SEO software to email marketing platforms and more. If there’s a task that could be considered marketing-related, there’s probably a martech solution made to help.

Because there are so many ways to define martech, it’s easier to focus on its goal instead of its specific capabilities. 

The products created by the martech industry are all about helping marketers improve the efficiency and profitability of their efforts, all while personalizing how they engage with customers. 

What is a martech stack?

A martech stack is a collection of different platforms, tools, and solutions that all work together to strengthen your marketing efforts. Think of your martech stack as an interconnected web of all the technologies you rely on to get the job done.

A healthy and functional stack helps you attract and understand your customers while also achieving business goals, like driving conversions. 

Adtech vs. Martech: What’s the Difference?

Before we dive further into the benefits of martech, it’s important to distinguish it from a similar, yet distinct, type of product: advertising technology, or “adtech.” 

Like martech, adtech aims to empower marketing efforts with the help of technology. Where the two differ is in their purpose and area of focus. 

Why is Martech Important?

Beyond being an essential staple of a modern business strategy, where digital literacy has become fundamental, martech is there to lend a helping hand. For businesses looking to grow or with limited resources, martech can fill in the gaps and help your teams spend time on the work that matters most.

No matter your industry, martech solutions can help you get ahead, then stay there, thanks to benefits like:

• Data-driven decision making. Martech tools give you access to in-depth insights and real-time reporting, both of which enable strategic decision-making.
• Personalized customer engagement. The power of data and AI join forces to help marketers better understand customers and engage with them accordingly.
• Improvements in productivity. Automation capabilities mean your teams can do more work with fewer resources and streamline routine tasks.
• Agility. A strong tech stack helps you stay adaptable and keeps your finger on the pulse in an increasingly competitive business market. 

Types of Martech Tools & Applications

From sending emails to mapping out customer journeys and following through on leads, there’s no shortage of tasks that marketing technology can help with. 

There are more examples of martech out there than we could possibly list at once, but many of them fall into one of the categories below.

Customer Relationship Management (CRM)

CRM tech is a cornerstone of effective customer management. Its purpose is to help businesses create and maintain better relationships with their existing customers. 

To achieve that goal, CRM tools help streamline communication, payments, and orders so that you can reliably meet customer expectations. As a result, CRM also enables marketers to personalize their interactions and nurture long-term loyalty from customers.

Marketing Automation Platform (MAP)

A marketing automation platform is software designed to automate routine, repetitive tasks, like sending emails or posting on social media. 

Depending on the tool, a MAP might focus on customer engagement, streamlining operations, enhancing personalization, and more. These platforms are typically best used by marketing and sales teams. 

Search Engine Optimization (SEO)

Martech created for search engine optimization empowers businesses to boost their online visibility and search engine rankings. 

Software that analyses industry keywords, for example, can help marketers create targeted content that attracts organic web traffic and increases brand awareness.

Data Analytics & Insight Generation

Because data and reporting insights are a key benefit of martech, it’s no surprise that many tools place heavy emphasis on analytics. Martech software can help marketers better understand the ROI of their efforts, enhance ad targeting, and more.

Email Marketing

An email marketing tool can be a powerful asset for customer engagement as well as conversions. These platforms simplify the process of email marketing, from designing to optimizing and launching campaigns. 

Potential Marketing Technology Challenges to Consider

With great power comes great responsibility. Incorporating marketing technology into your strategy can revolutionize how you reach customers, but it’s important to also understand the challenges that may come with taking this step. 

• Data Security & Privacy: More technology means more access to customer data, which can present challenges in terms of privacy. It’s crucial to choose technology that can protect customer information from cyber threats and complies with data protection regulations, such as HIPAA and GDPR, that are relevant to your industry.
• Integration: Though the martech landscape may be teeming with life, it’s also full of tools that probably aren’t a great fit for your specific use case. Marketers may find it challenging to connect multiple MarTech platforms or integrate third-party applications into their tech stack, creating data silos and bottlenecks.
• Constant Advancements: If there’s one thing that is constant about technology, it’s that it’s always changing. New tools and methodologies can seemingly pop up overnight, meaning that marketers need tech that can remain agile and adaptable even in the face of change.

Acknowledging and addressing obstacles like these head-on will help you successfully implement MarTech platforms and tools into your operations.

Light Up Your MarTech Stack with PowerChord

Clearly, marketing technology isn’t going anywhere – in fact, it’s likely that your business already uses some form of martech. 

When it comes to creating a martech stack, though, more doesn’t always mean better. Integrating your martech platforms into your workflows shouldn’t slow you down – it should power you forward. That’s why PowerChord’s martech solutions give you tailored tools that help you create a streamlined, unified customer experience. 

Our best-in-class marketing technology helps you optimize your marketing budget, fuel business growth, and connect with your customers from the moment they’re interested in your product to their final purchase. 

Want to learn more? Chat with a member of our team to get started.