The Evolving tech of Martech and Advertising
Martech consists of the use of technological tools such as digital analytics to improve marketing strategies . It refers to the tools and platforms used in Marketing for the management of users, opportunities and for the measurement of results and attribution of channels. Among all the competitive advantages that Martech gives including greater understanding and knowledge of target and target audience, better define value proposition towards the consumer (Schlickum, 2015). Furthermore it also includes optimization of response times based on the analysis obtained, simplification of strategic decision making for the implemented actions and therefore customers are increasingly demanding in terms of perceived value, comfort and price with increasingly personalized experiences. Marketing has a wide range of areas and possibilities, strategic, creative, digital … but at the end of the war, what companies expect from their marketing departments are results, numbers and figures (Schlickum, 2015). Hence one of the advantages of the martech. Companies are realizing that these optimizations in stores and marketing campaigns allow, on the one hand, to know and attract Leads, in addition to that these platforms and technology help to create smarter strategies (Brock, 2018).
Some of the substantial examples can be framed, back in 2008, the advertising campaign that brought Barack Obama to the presidency of the United States showed that the integration of new technologies into communication plans is no longer an alternative to consider, but rather an unavoidable decision for anyone who wants to achieve good results. Obama used all the interactive media available to him to transmit and viralize his messages: websites, social networks, electronic games, blogs, mobile advertising and more (Brock, 2018). His election campaign raised more funds than any other candidate in the history of American politics. And he did it using new means that have not yet generated the levels of trust that traditional means of donation have. To seal the successes, his electoral campaign recently won two awards at the Cannes Film Festival, the most prestigious in the world of advertising: Grand Prix in the Titanium and Integrated Campaigns categories (Betts, 2020).
Today, a good television pattern is not enough to achieve effective communication: marketing and dissemination strategies need to adapt to a new reality, that of those people who live connected to the PC, Ipod, Iphone, cell phone, Play-station and Wii. In this context, the major themes that researchers are finding in these areas refers to three fundamental changes that are worth noting and that influence the use of these new media (Betts, 2020).
1.The boundaries between advertising and other forms of communication and / or marketing tools have been blurred. The 4 P’s (i.e. product, price, promotion and distribution) are relativized because a website can be at the same time a sales channel or a space from where the public relations of a brand are carried out . A cell phone can be used both to broadcast an advertising message and to be the base resource to implement a promotion.
2.The figure of the prosumer emerges, a word that is born from the union of the words producer and consumer . The public not only receives messages, but also has the possibility to create them and have them heard by thousands of people, as well as those of a brand; furthermore, they can be more credible. To make a video and post it on You Tube, it is enough to have a marita web. Tools such as blogs, wikis, podcasts and social networks allow users to become media: they make the decisions about what content is published, how it is classified and how it is distributed (MacRury, 2018).
3.The oversaturation of brands and messages, among other things, makes the public more demanding and selective. For this reason, brands increasingly need to create relevant messages: the new advertising is no longer a mere information-persuasion vehicle to become the message itself or the value in itself. The new communication products of the most developed brands are also content. It is about creating value for brands and value for the public that knows, knows and requires them to behave in accordance with their values and ideals (MacRury, 2020).
Therefore, MarTech brings together marketing experts and experts in technologies that support marketing processes and the phenomenon can be observed i.e. new solutions appear every day that reduce the operational marketing cycle. In fact, one of MarTech’s main achievements that reflects this technological evolution is the growth of more than 36% in the Marketing Automation offering in 2017. Indeed, technology is evolving, it is even possible to find software that is capable of writing literary novels, so the creation of valuable content, one of the greatest challenges of digital marketing, will soon cease to be such. Another recurring case that draws attention due to its proximity to the issue raised by MarTech is the following: more and more companies know that they must attract valid prospects by making good use of their internet tools, not just their participation in social networks but its own website (MacRury, 2018). We are talking about Inbound Marketing , of course. Doing a good “Attraction Marketing” [iii] as it has been called by some specialists should be one of the first objectives of any company that integrates technology and marketing.
Many companies know that their websites are practically an electronic brochure , but they are not necessarily optimized or positioned organically. In the same way, they know that they must generate valuable content to attract more and more prospects, and for this, it is necessary to determine their characteristics, determine, in the language of Inbound Marketing, the “Buyer’s Person”, which also implies investigating them, classifying them, finding their way of thinking and current, in order to respond to their specific needs (Betts, 2020).
Once the profiles of its target have been determined, the company must generate valuable content and develop an entire e-mail marketing strategy with times, pieces of correspondence with topics of interest to them, tips, videos, etc., so that, literally , end up “falling in love” with these prospects, until they cross the border: contact the sales department! This process is exemplified in the following graphic scheme (MacRury, 2020).
Annotated Bibliography
1.”Brock, J. K. U. (2018). The Evolution of Marketing Technology. Handbook of Advances in Marketing in an Era of Disruptions: Essays in Honour of Jagdish N. Sheth, 343.”
Summary of First Article
In this paper, author emphasizes on the factor that marketing’s use of technology comes in five flavors: (1) the application and integration of technology in the development and creation of products and services, (2) the use of technology to advertise products and services, (3) the use of technology to assist marketing analysis and research, (4) the use of technology to support marketing education, and (5) the use of technology to support marketing operations, promotions, and management. This paper focuses on the recent phenomenon of the use of technology to augment marketing operations, promotions, and management and what is likely to happen in a few years when transformational digital technologies will impact marketing practices more widely. Drawing on evolutionary technology systems theory, the author identified four phases of marketing technology and explored the current and largely unexplored phase, “Technology for Modern Marketing”, suggest a Martech reference architecture, and hypothesize about and discuss implications of a new phase, ‘Technologized Marketing’, which is likely to shape marketing next.
2.”Schlickum, C. (2015). How technology is causing an evolution and revolution in media. Journal of Digital & Social Media Marketing, 3(3), 236-244.”
Summary of Second Article
The author reflects on better measurement of the effectiveness of the medium. The Internet provides accurate data through computer programs that indicate how many people accessed the site, how long they stayed on it, what spaces they visited, etc. This information allows advertisers to make decisions based on real data in real time. They can decide, for example, to advertise only the banner with the highest percentage of ” clicks”. The segmentation can also be a vital source if cable television or magazines already allowed to target the messages reaching a specific audience, the internet allows it even more. There are places for vegetarians, for lovers of motorcycles or horses, for those who have bulldogs or for those who want to know everything about African violet flowers. The speed of the production of the messages is efficient and the Internet is a medium that allows messages to be created and modified with a high frequency, adapting a campaign to the results that it needs or to the new contexts that are generated.
3.”Betts, A. (2020). Martech leadership: The symbiotic development of technology and talent. Applied Marketing Analytics, 5(4), 324-332.”
Summary of Third Article
In this paper, author proposes that by means of developing analytical technology faster than developing an organizational structure, companies are trying to meet customer expectations. Users across hundreds of devices, channels, and networks are creating hundreds of hotspots and expecting brands to not only realize their urgent needs but also be ready to make decisions. Organizations need to act quickly to adapt their strategic vision, make smarter analytical investments, and develop people and processes that are critical to success in an artificial intelligence-driven world.
4.”MacRury, I. (2018). Advertising creativity. The Advertising Handbook 4th Edition. Routledge.”
Summary of Fourth Article
The paper demonstrated the fact that in the process of continuous development of business activities and technology, marketing is also constantly evolving and changing. From the simplest signs and advertisements to advertising placement, hot marketing, social marketing, therefore marketing is everywhere and changes. With the increasingly widespread application of mobile Internet and big data technology, this ancient industry is evolving: large-scale precision marketing that has never appeared in human history is becoming a reality. Hence, information asymmetry has always been an important issue in economic activities. Just as in the marketing field, people often complain. Today, when the products are extremely rich and the needs of the crowd are becoming more diverse, this problem is even more serious. The development of smart marketing has made precision marketing possible. It will accurately push product information to consumers in need, which will not only change many companies, but also consumers’ lives. With the constant enrichment of the data dimension and the ever-increasing usage scenarios, especially with the rich location data and the Internet of Things, data marketing is also evolving rapidly and intelligent marketing has spread all over the world.
5.”MacRury, I. (2018). What is an advertising agency in the twenty-first century?. The Advertising Handbook, 9781315558646-12.”
The author believes that efficient matching of marketing scenarios is the key to MarTech’s ability to solve problems. For example, outdoor advertising is one of the important forms of advertising communication, but for a long time in the past, its delivery effect is difficult to evaluate, and MarTech is changing the situation. By analyzing and processing the data in each scene, it is possible to provide more efficient strategies for outdoor advertising and to deliver monitoring results. Take the big data insight report made by Epson on the effect of outdoor advertising on a video App as an example. The report can not only get the number of visitors to the billboard in each area, but also calculate who viewed the billboard when and when. If a user downloaded the video App after watching it, and he can also specify the group characteristics of the downloading user population to age distribution, gender ratio, ratio of children, monthly disposable consumption ratio, and hobbies. Hence, the paper concludes with the future prospects that related technology can analyze the different consumer brands that users who download a video App by watching outdoor advertisements are concerned, for example, whether the electronic products these users often consume are Huawei or Apple, and the clothing brands that they often buy.
