Technology has always been a vital part of marketing, and with each advancement, our ability to connect with consumers in new ways extends. MarTech—marketing technology—has gained popularity because of this trend.
In this blog, we'll explore what MarTech is in-depth, the advantages and disadvantages of a MarTech approach, and how corporations can benefit from expanding their current Martech stack into an all-encompassing RevTech suite.
What is MarTech?
MarTech describes the software tools used to automate, manage, and measure marketing activities. MarTech helps teams engage potential customers throughout the buyer’s journey—from attracting leads through SEO content to converting closed-won deals into brand evangelists for the product or service. This marketing effort covers everything from content management systems (CMS) to analytics platforms.
Pros and Cons of a MarTech Stack
The benefits of using a MarTech stack are numerous. It enables marketers to:
- Create, deliver, and measure content more efficiently and effectively
- Improve data integration for more accurate and insightful decision-making
- Keep up with the latest trends to stay ahead of the competition
However, there are some disadvantages to MarTech:
- Often require significant investments in terms of time, money, and expertise to be implemented successfully
- Can be difficult to integrate with existing systems
- Can be challenging to make sure that every component is working together optimally
Plus, as companies develop larger departments of various specialized roles, they need a solution that can do more than manage relationships—something to automate tasks between disparate groups like marketing, services, sales, and operations, so everybody works together toward shared goals.
Enter RevTech: a new era of platforms that unify all people, technology, and processes.
MarTech vs. RevTech
The future of digital technology will depend on how well organizations can leverage their data and resources to drive outcomes. As B2B buying cycles become increasingly complex and customer expectations rise, companies need holistic solutions that accelerate transformation.
MarTech and RevTech both involve uniting data, but there is one main distinction. While MarTech focuses on marketing activities, RevTech centers on the entire customer and revenue cycle.
RevTech is the evolution of MarTech. As an integrated approach to corporate tech stacks, RevTech combines MarTech and SalesTech with process engineering that guides customers through unified experiences. It also provides insights into customer behavior and a better understanding of the market and individual customer needs.
The goal of RevTech is to drive business growth and create more efficient teams while delivering more engaging customer experiences. Companies that invest in RevTech can pioneer true cross-functional collaboration, build trust with data and analytics strategies, and drive powerful go-to-market strategies like ABM (Account-Based Marketing).
How to Upgrade MarTech into a RevTech Stack
With the current state of the economy, many businesses are cutting costs by evaluating which technologies in their environment are still essential. But companies should be cautious about getting rid of systems they’ll need to replace later because they're ultimately necessary for company operations.
Therefore, the first step to upgrading a MarTech stack is to assess the current state of the company’s tech stack for a comprehensive understanding.
Ultimately, investing in modern RevTech solutions results in an improved customer experience—both directly from automated processes that reduce employee manual labor and indirectly through a better understanding of user needs and more effective communication across departments.
Proper tech stack consolidation is essential when seeking ways to increase efficiency and drive growth within your organization. Doing so carefully and strategically circumvents costly mistakes while creating a streamlined system that allows employees to focus on activities that deliver higher value.
Once companies have identified their current stack and the areas of improvement where they need to focus investment, they can develop a comprehensive RevTech strategy that focuses on automation, personalization, and analytics. Uniting data around and streamlining tasks like lead routing, for example, can have a virtually instant impact on sales close rates.
Companies should create an integrated platform that connects sales and marketing departments while leveraging capabilities, such as:
- AI-driven customer segmentation and personalization
- Real-time customer insights
- Automation of processes across teams
- Integration and optimization of data sources
- Unified analytics dashboards
- Predictive analytics and forecasting tools
- Customer relationship management (CRM)
- Full-attribution reporting tools
- Chatbots and lead response tools
Technology will continue to evolve, and companies can keep up by creating robust solutions that deliver success with the right strategy. Investing in RevTech is an essential part of any company’s digital transformation journey — so organizations should take the time to assess their current tech stack and create an integrated platform that increases customer engagement.
By elevating their MarTech stacks by investing in RevTech, companies can drive higher technology ROI. This evolution can support complete alignment between marketing, sales, RevOps, and service teams, enabling them to drive more meaningful customer experiences. Doing so will ensure that the entire organization works harmoniously towards achieving the same goal: unlocking more growth.
Check out our complete guide to building a RevTech stack for scalable growth here!
Zach leads New Breed's demand generation program. His areas of focus include in-depth market research and modeling, customer journey design and optimization, strategic application of data-based insights, technical integrations and data flow design, and technical content support.
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