New technologies are revolutionizing consumer relations and Digital Transformation increasingly challenges the traditional marketing. Marketing needs to prove itself as revenue generator and move from cost to investment, doesn’t it? It cannot be viewed anymore by the board as an area that consumes resources.
As the objective of any business is revenue, it is necessary to measure the marketing return on investment (ROI) to get to the conclusion that the money is being well spent. In order to do that, it is necessary to have a strategy centered on the customer and oriented by data, rethinking the model, innovating solutions and reshaping the offers based on valuable insights brought by Data-Driven culture.
The strategic use of metrics and indicators means to empower and arm the marketing team with tools that collect and analyze information from several sources to transform it into valuable knowledge and insights, and – literally – put the guesswork aside.
Martech has its essence in technology, and by using different analytical tools it identifies patterns, anticipate trends and helps to create new actions from the collection and analysis of data. If you want to understand what Martech is and how the concept changes the way marketing and technology work in the market, stay with me!
If you work in marketing, you have certainly heard comments like ‘marketing is a cost center’ or ‘it does not prove return’. We are in 2021, in the data age, and our main role as professionals in the field is to demonstrate the opposite – that the idea of marketing not having KPIs to measure results is in the past. Marketing is already connected with technology; this union is not part of the future, but rather of the present.
A combination of the words marketing and technology, Martech is the concept that refers to digital solutions that are being developed specifically for the marketing sector. Basically, this is a union that aims to improve business decision making through the intelligent use of data. Martech is marketing with the power of technology.
It is not new information that the Data-Driven and Customer-Centric cultures are the pillars for the creation of innovative products and digital services. All this work is facilitated and driven by technology. It is also the technology that provides marketers, more than ever, with new possibilities to connect the right audience, at the right time, with the right message through intelligent and focused digital strategies.
In fact, what we see is a digitization of consumer relations, which gives feedback to the system, generating even more data and improving the performance of the companies. For this flow to continue, it is necessary to count on resources that assign safety and fluidity to the use of this data. That is why more and more companies and startups that follow the concept – the martechs – are emerging, developing all this infrastructure.
In marketing, all this technology is massively used for:
- Data collection;
- Development of a qualified target audience;
- Improvement in customer communication;
- Planning and distribution of content;
- Identifying the leads;
- Monitoring the reputation of the brand;
- Revenue generation monitoring;
These are only some in a long list of functionalities. But what does all that mean? The answer is in the focus on results. It is necessary to present a good return on investment, increase the numbers and potentialize the business performance, whether in a digital channel or not. This means that it is not enough to do attack marketing, which uses a user’s common search term to send the user dozens of adds on the subject.
The idea is precisely to deepen and improve this practice, reducing the volume of information and qualifying what is delivered. It is preferable to draw the attention of 1,000 accurate prospects (potential customers), then of 10,000 disinterested people in their offer, for example. Do you see the difference?
There is a big difference between being timely and inconvenient – and Martech is here to guide the actions for a successful outcome and not only for a mass bombardment in any traditional channel (TV, radio, etc.)
Data-Driven Culture and Martech Stack
In order to achieve the desired results, Martech has a set of tools: the Martech Stack. It contemplates the resources that professionals use together to improve their operations. The first step to define the Martech Stack is to know what your business needs. Are you looking for automation? Do you want to simplify your operational structure? Do you need to scale your activities? Do you want to make your marketing smarter?
From that, the appropriate tools will be defined. The ideal solution would be the combination of all these factors, automating as many activities as possible without giving up creativity and customization. But to do that, you need a huge amount of data to feed the relationship interactions.
Therefore, it will be necessary to research and understand each one of the tools Martech offers, to understand what they do for you. From there, prepare your team to use them and finally invest in specialized and qualified partners to implement your project. In today’s world, having a Data-Driven culture is indispensable.
Martech and the BRQ case
In 2020, we built new marketing at BRQ. The leaders already understood the value and potential of marketing as a revenue generator, much more than only supporting the other areas of the company efficiently. Our first challenge was to prove revenue. Being a technology company, nothing more natural than using it to our advantage.
Thus, we created a dashboard that unites all indicators – ROI (return on investment), CPA (cost per acquisition), CPC (cost per click), CPL (cost per lead), and other metrics relevant to BRQ’s business, and we use it to direct all marketing actions.
With the new structure, we carried out a brand repositioning investing in Branding, Digital Marketing, Inbound Marketing, Content Marketing, Relationship Marketing and Marketing Automation, among others, focusing our strategy on the C-level audience. Throughout 2020, we had more than 10,000 hits from professional decision makers on our networks, consuming our content. This was impossible with the strategy we had before.
This new positioning, which consolidates us as a Digital Transformation company in the market, brought results above the expectations: the recognition by the ISG (Information Service Group), as one of the leaders in Digital Transformation in Brazil and, after six months, a ROI of 220 times the amount invested. Now with the proof by data and numbers, we can reinvest part of what we bring, gaining more visibility within the company.
Benefits of investing in Martech
Technology is something that is part of every human being’s life. Even those who are not immersed in ‘tech’, hyperconnected and connected to all trends, interact with the digital world in some way. That is why martech solutions have become increasingly essential, helping businesses not only to find, but also understand and attract ideal consumers, wherever they are.
All this will be possible with an attractive return on investments made, since the data will indicate the right audience for each purpose. This way, not only the needs of the company will be met, but also those of the buyers, who will find what they are looking for much more easily.
When it comes to user experience, martech solutions are protagonists, mapping all behaviors, increasing the relevance of the generated contents, providing convenience and helping the brands to be where they need to be to retain their customers. That means a profound change in the way technology is used to engage the audience.
The strategies will be much more punctual and correct, satisfying aspects that still go unnoticed today. Therefore, the desired result obtained through Martech is considered very valuable for the businesses.
Martech trends and the future of marketing
Companies that do not adhere to these new technologies, already considered semi-essential, will not only fail to conquer a competitive differential in the market, but may also be extinguished. Companies that do not offer things like digital payments and electronic sales, are long overdue – and this is only the tip of the iceberg.
The trend is for social media to intensify more and more. Therefore, those who are not prepared to attract and serve consumers in the digital environment will lose the best business opportunities.
As you have seen, the path to Data-Driven culture and the technologic solutions aimed at Customer Centricity tend to be increasingly prosperous if you use data you have in hand in your favor. That is why the sooner you adapt yourself, the better.
Today, we live in the data age, which guides all decisions – and it cannot be different with marketing. Marketing that does not generate revenue is going to die, because in Martech there is no guessing
Ligia Marcondes – Chief Marketing Officer at BRQ Digital Solutions