Marketing technologies are an integral part of the everyday lives of virtually every human being on planet Earth. However, many people don’t know about the way marketing technology works and even what it really is.
What Is Marketing Technology or Martech?
Every piece of technology used by a marketing specialist is marketing technology. Starting from SEO, email marketing and social media and ending with regular mailing and SM marketing platforms.
Marketing technologies allow the company to have a personal relationship with their existing customers and potential clients. Small companies have an easy way of developing such relationships; meanwhile, larger brands have too many obstacles that separate them from the customer. In order to get rid of these blocks, they take advantage of marketing clouds.
What Are Marketing Clouds?
A marketing cloud allows the marketer to have an access to the audience details, content, event triggers, and other information that can automate the complex marketing campaign, as well as sales and data collection. Most of the marketing technology companies work with SaaS (software-as-a-service) model. What they do is pay software vendors an annual fee to use the software that helps them collect data on their clients. Marketing cloud leaders are Adobe, Oracle, and Salesforce.
According to the research made by MiroMind large companies/brands are ready to pay substantial sums of money to get access to the useful marketing clouds. Six figure sums are making this industry rather big. Meanwhile, small market players can take advantage of the similar program for less than half as much.
Paying large sums of money is just the beginning. Sorting and using the data the brands receive is rather difficult. In most cases, companies hire a tech-savvy marketing automation consultant to help them sort everything out.
While this approach might be similar to ad tech, it’s not. Ad technologies are about buying and selling advertising, meanwhile, marketing technologies are about managing and optimizing marketing campaigns.
How Can AI Help?
Artificial intelligence is helping marketers sort out the data. Such programs are Einstein (Salesforce), Sensei (Adobe), and Watson (IBM). The ability to integrate a huge amount of data received from ad campaigns, email marketing, and mobile applications into one simple picture, which can be comprehended by people, who are not marketing specialists, is priceless. That’s where AI comes in.
As of today, AI has a limited number of functions. For example, in email marketing, it can do email address validation, subject line optimization, and message scheduling. In the future, artificial intelligence is bound to bring new optimization options to the marketing technologies.
In this article, we will talk about the right allocation of the marketing budget for SaaS companies.
SaaS company must get their marketing budget right.
People tend to use the terms SaaS vs Cloud services as interchangeable notions and this is wrong. The first thing you need to remember is that Cloud and SaaS are not equivalent.
