Connect with us

MARKETING

5 steps to martech stack success

Published

on

5 steps to martech stack success

There are many reasons marketing technology fails to deliver on its promise. Among the biggest are the questionable tactics of some vendors’ sales teams and customers who aren’t prepared for them. What follows is a way to be sure you’re prepared.

In 2020, Real Story Group managing director and analyst Jarrod Gingras wrote about martech vendor bullying. During my three decades of working in martech I have seen quite a bit of thise. However, I’ve also seen proof of the adage that no one can walk all over you unless you lie down first. 

Avoid martech buying potholes

In my article How to avoid a marketing technology #Fail, I gave strategic advice on how to avoid martech buying potholes. It’s a must-read for anyone adding new tools or trying to optimize a martech stack. This article follows on to that, providing a proven reference model for martech buyers. It will give you an edge in evaluating and selecting tech and improve your outcome.

Here are the five steps to achieve success in building an effective martech stack.

1. Define, align, prioritize

First, never engage with a martech seller unless and until you are fully prepared. 

Being fully prepared means defining, aligning and prioritizing your business goals for marketing, customer experience and marketing technology. This makes your needs and priorities clear to you and the seller. If the seller listens more than they talk, they’ll show how their product or service aligns with your stated goals.

2. Refine methods and practices

When I say methods and practices, I mean the people, roles, tasks and processes that power your marketing organization. 

You must have the right people and they have to know where they’re going, why and how to get there. They have to have the data, content and automation needed to engage and develop meaningful relationships with prospects and customers. Measuring inputs and outcomes allows you to know if all this is working.

Advertisement

These methods and practices must be reviewed, optimized and ratified regularly. If it only happens when you’re considering a martech change or when a marketing or business challenge arises, you’re doomed to failure.

3. Marketing technology assessment

It is absolutely essential that you thoroughly understand your current martech stack before undertaking any changes. This requires knowing the specific platforms and point solutions, the goals for each and how they were implemented. 

You must also know how it all works together. Especially,

  • Why and how is your stack integrated? 
  • What’s the operational construct to help you realize the maximum value of your martech investments from a utilization and ROI point of view? 

Knowing all this will enable you to separate the sense from the nonsense of a vendor’s offering.

4. Current state optimization

You’ve got stuff. In many cases, a lot of stuff. It’s the result of too many choices (some 10,000 solutions in 2022). Add to that a lack of subject matter expertise (after all, you’re a marketer, not a technology product manager), a deep need to keep the marketing train moving and prove value to leadership and that ever-present marketing problem du jour. All this explains why many organizations have upwards of 120 martech tools

What matters isn’t the number of tools, it’s whether the tools you have suit the needs of your marketing organization. 

I’ve worked with small to medium-sized businesses with a foundational martech stack of marketing automation, content management, customer data, e-commerce and analytics and reporting tools that outperform companies 100 times their size. 

Focus on optimizing what you have. If a tool doesn’t consistently deliver value and ROI, if it’s not fit for the purpose or, worse, not used, get rid of it.

5: Envision a future state

In addition to knowing where you are, have a clear picture of where you want to be.

Advertisement
  • What will you be able to do that you can’t do now? 
  • How will this help you achieve your goals?

The steps I’ve outlined here will enable you to answer these questions. This is the outcome of designing and documenting a useful, fully utilized and cost-effective martech stack. In doing this work you will have developed a vision and strategy for all your marketing efforts. The final step is turning it into a roadmap and execution plan for martech excellence.


Get the daily newsletter digital marketers rely on.



Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.


Advertisement

About The Author

Gene has been a Martech Healer for three decades, inventing the future while helping organizations and leaders ‘Ride the Crest of Change.’ A serial entrepreneur since his first newspaper delivery start-up, Gene developed early innovations in social media networks, digital-out-of-home narrowcasting, and SMS mobile marketing. He currently serves as the chief strategy officer and head of consulting at GeekHive, a New York-based marketing technology consultancy helping clients maximize their investments in martech.

Source link

Advertisement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

MARKETING

8 Effective Ways to Ensure Ecommerce Business Success

Published

on

8 Effective Ways to Ensure Ecommerce Business Success

It is a known fact that the global consumers are favoring ecommerce, and the reasons for ecommerce business success are many. 

According to a Statista forecast, the retail ecommerce revenue in the US is expected to cross 1.3 trillion dollars by the end of 2025.

Image via Statista

While brick-and-mortar stores are gradually losing their dominance, the digital marketplace is blazing. More and more ecommerce brands, big and small, are coming up and gaining a foothold in this ever-expanding landscape.

If you are one such ecommerce business striving to taste success, you know how demanding and competitive things can be. And you only beat the fierce competition with aggressive ecommerce marketing strategies like digital advertising, content marketing, social media marketing, etc.

In this post, I will be sharing 8 key factors you need to focus on to ensure your ecommerce business success and sustainable business growth. 

Let’s get started.

8 Key Factors for Ecommerce Business Success in 2022

The future of ecommerce is bright and the small businesses that jump on the bandwagon early will reap great benefits. But what does it take to taste this success? 

Advertisement

Here are the 8 key success factors for ecommerce businesses.

1. Target a Niche Audience 

The secret to ecommerce business success lies in understanding your target audience and focusing all your efforts on engaging them. Instead of trying to attract a broad audience on the search engines, select a niche audience specific to your small business, understand their pain points and interests, and position your brand to meet their needs. An SEO tool like Semrush or Ahrefs can help you with your research to build a strong marketing strategy based on real insights.

The goal is to make your product unique and market it to a relevant audience that is more likely to make a purchase. This strategy can increase customer loyalty and win repeat customers for your small business. Therein lies the secret to your ecommerce business success. 

2. Go Mobile-First 

The pandemic has accelerated our shift to ecommerce and given rise to m-commerce. Insider Intelligence estimates that by 2025, m-commerce sales will account for 44.2% of total ecommerce sales in the US.

So it’s clear that the success of your ecommerce business relies on the mobile-friendliness of your site. Having a mobile-friendly online store can help you deliver a seamless online shopping experience to customers on the go.

You can begin by running Google’s Mobile-Friendly Test and building a progressive web application (PWA) for your online store. A responsive design for your website will help boost sales and pave the way for your ecommerce business success.

3. Choose the Right Distribution Channels 

Your audiences are active on different channels and if want your products to be visible to them, you need to choose the right distribution channels. 

If your business model focuses solely on your ecommerce website, you should broaden your perspective and consider other sales channels. There are several other options to sell your products like Amazon, eBay, social media, affiliate marketing, and so on. You can manage your sales process effectively with the help of sales CRM tools. These tools integrate your different sales channels and makes your sales process more efficient.

Conduct extensive research to figure out which of these channels are preferred by your target customers. Showcase your products in an attractive way to boost your ecommerce sales. This digital marketing strategy can contribute to your ecommerce business success.

Advertisement

4. Create Unique Content

You heard that right. To ensure that your ecommerce brand stands out in the crowd, you should invest in high-quality and diverse content. 

Today internet users are flooded with content and to grab their attention you need to think out of the box and create content marketing strategies that truly grab their attention. Remember, video content is ruling the landscape delivering great results. You can use Premiere Pro Presets to create unique and impressive videos and stay ahead of the competition.

Gather insights from customer data analysis, see what your competitors are doing, and learn from your previous digital marketing campaigns to create a more targeted content marketing strategy for your small business. 

5. Continually Update Your Email Marketing List 

Marketers rely on email marketing to achieve diverse marketing goals. Emails can be used to generate leads, nurture them, build relationships with customers, ensure customer satisfaction and boost ecommerce sales.

But to leverage the power of email marketing, you need to be smart about your email lists and use the right email tools to manage them. There’s no point in sending a thousand emails when only a couple of hundreds of recipients are your target audience. 

That’s why segmenting your email lists and keeping them updated is crucial to your ecommerce business success. An effective way to manage your email lists is to ask for the recipients’ feedback on your emails and the information they prefer to receive.

By analyzing the responses, you can make more strategic decisions and ensure the success of your ecommerce business.

6. Deliver a Great Shopping Experience 

The expectation of customers in terms of customer experience has skyrocketed and that’s why you need to work towards improving customer satisfaction.

Advertisement

Personalized communication could be one of the biggest game-changers, be it in recommending products, reminding them of abandoned carts, or introducing them to your latest offerings. Creating user story maps can go a long way in making your personalization efforts more effective.

Right from the moment customers land on your page to when they make a purchase, you should strive to create a smooth customer experience. You can also consider incorporating an AI-powered chatbot into your website to take your customer service to the next level.

To make your customers happy, offer them special deals and discounts. Such moves will surely boost your ecommerce business success.

7. Invest in Social Media Marketing

Social media, can be immensely effective in creating brand awareness, extending customer service, and generating leads for your ecommerce business. Facebook, Instagram, Pinterest, and YouTube are all marketers’ favorites to reach out to niche audiences and drive traffic for their sites.

Having said that, it is a crowded market, and winning big on social media isn’t easy. As an ecommerce brand, you need to use social media analytics to create digital marketing campaigns that not only generate engagement but also fill your sales funnel with quality leads.

Ecommerce brands should also leverage social selling as it is growing into a prominent trend. This shoppable post by Macy’s allows its Facebook followers to buy what they like instantly. 

Image via Facebook

If invested strategically, selling on social media can act as a profitable sales channel for your business. 

8. Leverage Ecommerce Tools

Your team need not struggle to ensure the success of your ecommerce business. A variety of advanced ecommerce tools are at your disposal to optimize your efforts. 

Advertisement

Some of the must-use tools for you are: 

  • Website tools – to design, set up, and manage your ecommerce site
  • Ecommerce marketing tools – to help strategize and execute your campaigns with ease 
  • Competitor analysis tools – to understand the gaps in your planning and improve it
  • Analytics tools – to help you gauge the performance of your digital marketing campaigns
  • Business tools – to help you manage daily operations, finances, logistics, inventory, and customer service 

Choose the ones that can boost the success of your ecommerce business. 

Final Thoughts

There you have it, a list of 8 key factors you need to work on to ensure the success of your ecommerce business. Gaining this success is hard work but it is worth it. 

If you want to fuel your business growth, I strongly recommend building your ecommerce marketing strategy to enhance customer experience and build your brand identity. Go ahead and give them a try to beat the competition and establish a successful ecommerce business.


Source link

Continue Reading

DON'T MISS ANY IMPORTANT NEWS!
Subscribe To our Newsletter
We promise not to spam you. Unsubscribe at any time.
Invalid email address

Trending

en_USEnglish