Adtech + Martech.
What is Adtech? What is Martech? How do Adtech and Martech work?
Adtech (advertising technology) and Martech (marketing technology) are overarching terms used for the technologies, channels and data that drive innovation and customer engagement within the advertising and marketing industries.
What is Adtech + Martech?
Nowadays, brands are in an endless competition for our attention, loyalty and most importantly, our money. Advertising and marketing teams have many important questions to answer and priorities to account for: “What’s the most efficient way to convert passive onlookers into active shoppers?” How do we effectively reach our target audience? What’s the best way to build brand loyalty? What marketing channels are most promising to us?” The list of daunting questions goes on and on. Thankfully, the rise of adtech and martech tools have given clarity into everything from target audience to the overall effectiveness of campaigns.
Adtech and Martech are both portmanteaus for “advertising technology” and “marketing technology,” respectively. Adtech and Martech represent the technologies, software and tech tools that professionals use to plan and execute advertising and marketing campaigns. When used correctly, adtech and martech have been proven as two of the most important tools in growing business and revenue.
There has recently been a concerted effort towards personalization when it comes to marketing and advertising. It’s no longer a one-size-fits-all market. Potential customers each have their own likes and dislikes, so reaching them at the right time with the right product is crucial to the success of advertising and marketing efforts.
Have you ever received a targeted ad while scrolling through social media? Maybe you’ve been emailed a personalized coupon from your favorite brand? Perhaps you’ve even come across an attention-grabbing smart mirror that suggests the right outfit for you. In all of these cases, a combination of data and technology was used to grab your attention and lead you to interact with a company’s products or services in a meaningful way.
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Adtech Tools + Examples
Demand and Supply Side Platforms
Advertisers need to purchase ad space from media organizations. Media organizations need a place to sell their open inventory. Demand-side platforms (DSP) allow advertisers to bid on open ad slots on a per impression basis. Supply-side platforms (SSP) allow for sellers to list their inventory on a multitude of exchanges in an automated and efficient manner.
Search Engine Marketing (SEM) Platforms
Search engines, like Google, allow for advertisers to purchase ad space for certain keywords that they think will draw in new customers. For instance, a plumbing company might use their advertisement budget to place their ads in the search results for “leaky faucet” or a restaurant in New York City might want to purchase ad space for a term like “best restaurants NYC.” The ability to gain a massive amount of search exposure helps brands to gain more customers.
Ad Forecasting Software
Instead of arbitrarily throwing money at expensive ad space, teams can now accurately and efficiently budget for ad buying. This software allows companies to gain insights into consumer media consumption habits and approximate costs of ad space. They then optimize for company goals in order to stretch the company’s dollar further and more efficiently.
Martech Tools & Examples
Customer Relationship Management (CRM) Tools
CRMs (like Salesforce) help marketing teams maintain all known data about a customer, including everything from birthday to recent calls they’ve had with customer service. Marketing teams can use the information collected in CRMs to offer everything from personalized emails to track customer engagement levels with content or products.
Data Analytics Platforms
Data Analytics platforms, like Google Analytics or Quantcast, give detailed insights into engagement levels of marketing campaigns. For example, a company that sells electronics could write a blog about the best products of the year. The company then uses an analytics platform to measure engagement levels, demographics, ages, locations, etc. They then target readers that match the reader base with advertisements for those products from the blog post.
A/B Testing Tools
Marketing teams are always testing, tweaking and re-iterating everything from content to websites to help boost user experience and increase sales conversions. Maybe a team wants to add a “buy now” button on a page. A/B testing tools allow marketers to add the button to one page and test it against the baseline page to see if it can convert more passive users to active buyers. A/B testing tools help marketers make small, but important changes that could have large impacts on revenue and customer retention.
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