Creating A Lean MarTech Stack

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Marketing departments face unprecedented challenges in running successful campaigns. MarTech adoption is crucial but doesn’t come cheap. Hence, an optimized and lean MarTech stack, is critical to achieve these goals.

What Is a Lean Marketing Technology Stack?

Marketers use a collection of technologies to execute and improve their marketing activities. This is called a marketing technology stack or ‘MarTech stack’.

These marketing technologies aim to simplify complex processes. They can also measure the effectiveness of marketing activities to allow control of marketing ROI.

However, marketers do not always use all the tools that they collect in their marketing stack.

Gartner’s 2023 MarTech report says that,

Marketers are using only one-third of their MarTech stack’s capability, down from 42% in 2022 and 58% in 2020

Clearly, ensuring that the MarTech stack keeps only what is necessary will be the best way to optimize marketing budgets. Moreover, a lean MarTech stack is easier to manage, update and keep secure.

So, adopting a leaner marketing technology stack can ensure reduced expenses, leading to higher ROI. This way, CMOs can optimize the adoption of MarTech to align with their overall business, marketing, and customer experience goals.

Components of a Marketing Technology Stack

Marketing technology stacks are fast becoming more impactful as customer experience tools. These customer-focused MarTech stacks are designed to centralize all activities around the customer. They thus ensure that all company channels and departments work together seamlessly to provide customers with a personalized and smooth experience with the brand.

The key components of a successful MarTech stack include:

  • Content Management System (CMS)

Websites and blogs are powered by this technology. CMS can be used on websites, blogs, and mobile apps where marketers interact with customers.

  • Advertising Technology

Companies use ads to get people’s attention. They use different methods, like search engine ads, display ads, retargeting, and software to track and measure ad performance.

  • Analytics

Marketers need to access their data to measure their digital marketing strategies’ effectiveness. They can track this data through website analytics or in-house and third-party tools that analyze business analytics. Advanced marketers may also use a data warehouse to combine data from multiple systems. Content intelligence can help analyze content performance and offer valuable insights.

  • Campaign Optimization Tools

There are many tools available that can help optimize campaigns. These tools allow to analyze data and make informed decisions to optimize marketing efforts. Various techniques such as A/B testing, multivariate testing, user research, analytics, and personalization help improve user experience.

Depending on the business strategy, firms must tailor the marketing approach as per the audience and keep the language simple.

  • Social Media Digital Platforms

Social media monitoring technology can help maximize the impact of marketing through social networks like LinkedIn and Facebook, which have paid advertising options available. These social networks are also important parts of the ads landscape.

  • Digital Asset Management (DAM) Tools

The DAM is the repository of all digital assets that a company has. It also includes marketing assets like content in any form, and even digital customer databases. It stores content but focuses on keeping track of and authoring static assets like documents, images, and video.

  • Customer Relationship Management (CRM) Platforms

A CRM is often a focus area for B2B marketers. It can track marketing attribution to support a direct sales force. CRM keeps track of all customer relationships and can provide insights into how marketing campaigns influence sales pipelines and customer growth. It is also a customer database repository used by marketing teams.

  • Search Engine Optimization (SEO) Tools

SEO tools deliver a strategy to increase the number of visitors to your website by improving its ranking on search engines like Google. It’s often combined with content marketing to be more effective. There are a variety of tools that can help with keyword research and other SEO-related tasks.

Also read: Crucial Tools to Build a Successful MarTech Stack

How to Keep the MarTech Stack Lean

A lean MarTech stack ensures an optimized outcome or ROI for marketing budgets. It only uses the tools that add maximum value, and only to the extent that delivers on their objectives.

It eliminates all obsolete, unused, or even unusable tools. These unnecessary burdens could lead to excess maintenance expenditure, complexity, and data silos and even make the stack vulnerable to cyber risk.

Some of the strategies that help with keeping the MarTech stack lean are:

  • Establish Clear Goals and Objectives

To build a lean MarTech stack, it is important to understand the organization’s specific needs. To find the right balance, companies must decide which roles to keep in-house and which to outsource. By outsourcing non-core tasks, they can improve the team’s productivity while driving growth. Combining outsourcing with effective tools will maximize success.

By gaining clarity on the business objectives, brands can identify exactly which tools will be critical, and hence, they can just go for those instead of adopting tools that are not really being used. Refer to the data shared above from the Gartner report.

  • Use a SaaS Model

Software as a service model of engagement can be a great way to keep your MarTech stack lean. The Pay-per-use model will ensure that a company deploys only the software that is required and only those numbers of licenses as needed. It is a scalable model, so marketing software can be ramped up as the team increases or if there is an expansion in focus markets.

But since the cost of the software is only as per use, it will not be a burden, if not used properly.

  • Better Vendor Engagement

A single vendor engagement for various tech tools for the MarTech stack is a good idea.   It makes data exchange, integration, and reporting easier. The vendor can understand your needs, and no unnecessary software is added to the stack. This helps to keep it lean.

Also, a single vendor offers more agreeable terms. They will deliver software updates, security patches, and compliance updates to the software they install in your MarTech stack. This also helps to optimize costs in the maintenance of the stack and keeping it updated.

Conclusion

As marketing objectives change, the MarTech stack should adapt to meet the new requirements. While adding a wide range of software and tools is possible, companies need to be careful not to overdo it.

The goal should be to focus on the most important elements for the business to operate and find solutions that can integrate and work well together. In that, there needs to be an economy and not go beyond the requirements. Future planning is critical, so scalable models and platforms should work better than single software adoption.

That’s why a lean MarTech stack is an intelligent and cost-effective MarTech stack.

Check Out The New TalkMartech Podcast.

Aafreen Shaikh
Aafreen Shaikh
Aafreen Shaikh is a Senior Associate Editor with OnDot Media. She has had professional exposure in the research industry for 6+ years. She is interested in several tech-related topics, such as AI, IoT, and marketing technology, to mention a few. When not absorbed in the latest gripping page-turner, Aafreen loves spending far too much time playing the latest games on the computer. She also loves to stay abreast of industry trends and reads up on as many publications in that domain. Her insights in the IT domain are translated into the crisp and fresh perspective-based content she creates.

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