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What is Marketing Technology?

There are many different terms and names for Marketing Tech. Here we will cover the best way to describe the field of Marketing Technology.

  • Marketing technology is not just about the technology itself. It's about the processes, systems, and tools that come together to create Marketing Technology.
  • The course will cover consumer-focused growth stacks and will also focus on martech for web and mobile based applications.
  • Oftenmarketing technology is underrated and overlooked within the realm of growth. Marketing technology is at the core of being able to drive functional growth.

Slides for this lesson embedded below.

00:00:06 Hello, everyone. Welcome to another lesson with the marketing technology Academy. This is section one of the marketing technology practitioner course. And today we're going to be talking about what is marketing technology. This is obviously an important question to know if you're taking this course and thinking about, um, marketing technology as a career profession, or as an expertise. The way that I define marketing technology is the field or study pertaining to marketing tools, technology, processes, and systems, it's everything related to marketing technology. That sounds pretty obvious. But what I think about is that user acquisition managers, product managers, engineers, digital marketers, growth managers. These are all different types of individual contributors who rely on marketing tech. And it's not just about the technology itself. It's often about the processes systems and surrounding tools themselves that create marketing technology more specifically, the set of first and third party tools connected together into a unified system is called a marketing technology stack.

00:01:02 A lot of people call this a growth stack. There are a number of different growth stack diagrams for the purposes of this course. We're actually talking about consumer focused marketing technology stacks. Meaning the business in question is selling to consumers, not to other businesses. We are thinking about launching a business to business or B2B marketing technology practitioner, of course, in the future. But just keep that in mind, as you walk through this class, um, if things don't make sense or somewhat different or don't apply, you may be from a B2B business. So a couple of things you should know about marketing tech first it's often abbreviated to MarTech. Uh, I don't know if the proper spelling is Mar space tech MarTech, one word or more Mar dash tech, but we will use the Mar tech one word often in this course. And what we mean by that is all the other abbreviations MarTech, uh, you know, has in theory, been around for a long time, but as a word and verbiage and nomenclature has not been around for all that long it's often existed under the organizational diagram under engineering or product.

00:02:05 And frankly, I think it's often been an orphan with an organization. You actually might be taking this class because you're working for a startup or maybe even a medium sized company where marketing technology has been orphaned. And you're trying to learn so that you can better manage and improve your own marketing technology. I think maybe one of the most important things about marketing tech though, is that it's often underrated or, or, or overlooked as a function of growth. Growth was a big term that popped up in the last, I don't know, five to 10 years around driving revenue and conversion results to different consumer focused businesses and sometimes even B2B businesses. But what's important is that growth does not exist without marketing technology in some format or another, whether you're a leader at Pinterest running, um, you know, exquisite world-class growth and CRM style marketing, whether you're a, uh, you know, a small acquisition manager at a food delivery startup, you can't do your job without understanding marketing technology and having support from different aspects of the organization.

00:03:06 So an important thing here is whether you enroll in other growth focused courses, whether you're a growth expert or user acquisition manager, it's important to realize that marketing technology is really at the core of being able to drive functional growth. And I think MarTech in particular is the foundation to be to, to now being a true modern digital marketer, maybe 10 years ago when digital marketing was all about kind of checking ad words and being able to understand website traffic, it, you didn't actually need all that much technical skill in order to be a highly skilled digital marketer. Today, there are websites and apps and tons of new channels, and everything relies on the ability to systematically and with high detail measure, how performance is being led. And the only way you can do that is with marketing tech. And so I think if you are a existing digital marketer, whether you're a growth manager or whether you live in between these different fields, MarTech is a foundational thing to understand and learn in order to be better at your job.

00:04:09 And like we said before, consumer versus B2B MarTech, I know I'm going to get, uh, people raising their hand and saying, Hey, well, this course really only focuses on a couple of things. There are so many other fields around MarTech that expand beyond what you're teaching. And I totally agree. And I want to put that out there from the start. This is a consumer based marketing technology course. This is all about how you can use marketing tech. When you have individual users who are your consumers. What we mean by that is, you know, again, businesses selling to consumers, B to B MarTech is related to businesses selling to other businesses and the MarTech stacks can be similar. And there is some inter-operability, for example, in my own business, I use an attribution provider and a deep linking provider to route people to the appropriate spot on my website.

00:04:55 However, I don't use a lot of the same tools that you might use in a consumer based technology course, because I am trying to sell to businesses and consumers. So keep that in mind, if you come from a B2B business, you will still find lots of applicable tech and knowledge here, but some of the lessons might not apply very directly to your core, to your business. We are thinking about building a course specifically for B to B businesses in the future. So stay tuned to the MarTech Academy. If you're interested in learning about that last discourse, uh, focuses on specifically web and mobile based applications. Um, I think that's important because there are folks out there who likely have businesses that are completely web based, and I will do my best to inform and teach consumer MarTech from that perspective, especially using the MarTech Academy and HB ventures as models for how to do that.

00:05:46 Um, however, you will find very often that these courses, these lessons and courses focus on mobile and web based applications. That's just because in my experience, that's the harder challenge to solve for when you have a cross platform application, it adds a lot of complexity from a technology perspective. So we will be diving deep into that in this course and future courses, but keep in mind, you can always adapt what you've learned for your business. Specifically, if you're web or mobile only. And with that, we are done with this lesson. I will see you next time in the next lesson for section one,

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Where does Marketing Technology sit within an Organization?

A common question marketers ask is how martech fits into an org structure. In this lesson, we'll talk about that issue, and describe different models for how martech can serve an organization at different stages in a company's lifecycle.

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