Jun 22, 2021
As we wrap up our series on revenue operations,
it’s time for a conversation about a driving force behind the
expansion and problem-solving for businesses: marketing
technology. The number of MarTech companies has exploded
during the last decade, and they serve a critical function in
business models today. But how can you use them properly? Tune in
to this episode of Aligned for the answers.
Why is marketing technology MarTech)
- In 2011 there were only about 150 MarTech companies. As of now,
there’s an estimated 7000-8000 MarTech companies (AKA a growth
- This explosion of new tech options can make it challenging to
determine which tools are right for your business. How do you
- Before you start scheduling demos, creating trials, or talking
to any other company, you first need to determine which category
your problem (and thus solution) falls in.
The Seven Business Categories of MarTech:
- Advertising and Promotion
- Content Creation and Enhancement
- User Experience Journey Mapping
- Sales Enablement
- Business Intelligence and Reporting
- Internal communication
- For an in-depth look at what these categories represent, check
out our blog.
How do you know which tools to utilize?
- Determine which buckets are most important to your business,
and then look for companies that solve those overarching
- Pro tip: Search comparative technologies and look at
crowd-sourced tools to figure out if one is good
- If you have one tech that fulfills multiple responsibilities,
that’s great. Fewer accounts and systems can make things less
Finding a system that works for you:
- Different businesses have different needs. In some cases, you
might want to utilize multiple platforms that each specialize in a
- For other people, they might want one giant platform that
integrates everything. Some businesses might even need a custom
platform that is created purely for them.
- Each strategy has its pros and cons, and one method isn’t
inherently better than another. Whether it’s usability,
communication between interfaces, security, you need to identify
what is most important for your business.
The tools-centered approach is the wrong
- Finding a balance within those seven categories is integral to
- Before you start booking platform demos, develop a strategy to
determine what problems most affect your business and solve those
- Upwards of 80% of marketing-generated leads are wasted because
of a lack of communication between sales and marketing.
- Sean and Will recommend starting with a strategic focus on your
tech, decide which problems within the seven categories you need to
solve, and conduct a MarTech audit.
- Marketing and marketers all talk about wanting data. 73% of
people a year ago needed integrated data points. This year, that
number rose to 90%.
The key takeaway - Not every solution is your company’s
solution. Strategy can drive your business - search for answers to
your problems rather than problems with a great solution you might
- Check out Sean’s book
Shift to learn how to develop your marketing strategy and
- Aligned is a podcast for executives of emerging middle-market
companies, executives of rapidly growing businesses, and executives
pursuing growth and looking for new levers to pull. FitzMartin is a
sales-first company driven by those things, and we want to pursue
those things, and we know that you do, too.
- To connect with Sean Doyle, find him on LinkedIn, or learn
more about FitzMartin on the company web page.
You can also connect with Will Riley on LinkedIn.