Marketing technology, or Martech, refers to the utilization of technology in the field of marketing. This includes a vast array of tools and platforms that aid companies in automating and enhancing their marketing strategies. These tools offer features such as data management, analytics, automation, personalization and more. As per Scott Brinker, the editor of Martech Landscape, there are over 8,000 Martech solutions available currently in the market.
One notable instance of Martech being employed to drive ROI in a marketing campaign is the "Old Spice: The Man Your Man Could Smell Like" campaign. The campaign, launched in 2010 by Proctor & Gamble, aimed to rebrand Old Spice as a contemporary and masculine brand. The campaign featured a series of humorous video commercials, social media engagement, and real-time video responses to tweets, which led to its success. The campaign resulted in a 107% increase in sales and a significant boost in brand awareness.
The secret to the campaign's success was the use of technology to engage with consumers in real-time. Old Spice employed social media monitoring tools to track mentions of the brand and respond to tweets with personalized videos. Additionally, they used analytics to track the performance of their videos and adjust their strategy accordingly. By incorporating Martech and automating and enhancing their marketing efforts, Old Spice was able to create a highly effective and successful campaign that drove significant ROI.
To put it simply, Martech is the integration of technology into marketing efforts. It encompasses a wide range of tools and platforms that assist businesses in automating and optimizing their marketing strategies.