Ishan Dhall - MarTech PDF
Ishan Dhall - MarTech PDF
Ishan Dhall - MarTech PDF
Whitepaper on MarTech
SUBMITTED TO:
Dr. Amit Nagpal
SEMESTER II
BATCH 2019-21
PREPARED BY-
Ishan Dhall (19016)
Section- MA
Contents
Chapter 1 ............................................................................................................................................... 2
Introduction to MarTech ..................................................................................................................... 2
Chapter 2 ............................................................................................................................................... 4
Major MarTech Players in India......................................................................................................... 4
2.1 Adobe Experience Cloud ............................................................................................................ 4
2.2 SAP Marketing Cloud ................................................................................................................ 4
2.3 Salesforce CRM ........................................................................................................................... 5
Chapter 3 ............................................................................................................................................... 7
Sub-Domains of MarTech .................................................................................................................... 7
3.1 Sales-Automation ........................................................................................................................ 7
3.2 Digital Marketing ........................................................................................................................ 8
3.3 Chatbots ....................................................................................................................................... 9
Chapter 4 ............................................................................................................................................. 11
Impact of Technology on MarTech ................................................................................................... 11
4.1 Impact of AI on MarTech .................................................................................................. 11
4.2 Impact of BlockChain on MarTech ......................................................................................... 12
Chapter 5 ............................................................................................................................................. 13
Emerging and Future Trends on MarTech ...................................................................................... 13
5.1 Revolutionizing the Customer Experience with Artificial Intelligence ................................ 13
5.2 Video Marketing to Increase Engagement ............................................................................. 13
5.3 Reduce Friction with Social Proof ........................................................................................... 14
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Chapter 1
Introduction to MarTech
Humans have seen an increase in the dependence on technology. The technology for marketing
to meet the needs of the modern markets is called MarTech. It includes the techniques and the
tools that we use to meet the needs of the contemporary markets. With time, consumer
behaviour has changed a lot. The consumer wants more and more from the product. The
expectation of the people from the brands have gone up, and the consumer is ready to pay for
the experience. To meet such dynamic needs of the user, the marketer has to be one step ahead
of the consumer and use the best technology available to predict these ever-changing needs of
the consumer.
MarTech, also known as Marketing Technology, is the concept used by advertisers to organise,
conduct and evaluate marketing strategies using apps and engineering devices. MarTech
platforms are used for automating and streamlining communication procedures, gathering and
reviewing data and offering different methods to attract and involve the target audience.
MarTech Stack is defined as the suite of resources which an organisation leverages for
marketing processes.
MarTech is nothing but a 360-degree coverage that involves communications, applications for
Customer Relationship Management (CRM), search, social media, web analytics and data
analytics to identify and react adequately to consumer needs. In the past, marketing was
dependent on trial and error. Still, with MarTech, businesses have a benefit to enable them to
make wise decisions and more foresight on their marketing operation. MarTech helps
companies to utilise real-time performance data to compete strategically.
National businesses use MarTech to take advantage across the market and to be well-positioned
to satisfy consumer requirements. Around 53 per cent of Fortune 500 companies currently have
Instagram pages as part of this, growing from just 9 per cent in 2013. About 75% of Fortune
500 companies already have YouTube channels, nine percentage points more than a year
before, and Snapchat followers are about a third.
The entire concept is to be present in the micro-moments of the digital experience of a
consumer, particularly when it comes to making choices, creating brand loyalty across several
contact points.
It is no surprise out there that Fidget spinners have become a worldwide sensation due to soci
al networking and companies who had their ears and eyes on the new movement and respond
ed to the demand of the industry. Initially, several major toys retailer skipped the chance,
which turned out to be a global tsunami. This just underlines the need to be involved on the
right forums, and also to work with sector experts. This would allow you to find the best
development solution that suits the requirements rather than distributing widely over thousands
of sites without all of them having maximum mileage. MarTech allows consumer activity more
exposure and lets businesses adapt to patterns. This will be like being restricted to silos without
MarTech-and little to no understanding of consumer behaviour.
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Apart from this, Artificial Intelligence (AI) is being integrated into systems to improve
customer experience. Consumer Data Platform Institute, as David Raab, Director, puts it:
Successfully utilising computers would be necessary for potential progress.
According to a landmark study undertaken by Mirum India, 80 per cent of marketers are
projected to increase MarTech investment over the next few years with the increasing
development of the digital marketing environment. The research called 'India MarTech Report
2020' illustrates how advertisers are rapidly embracing emerging technology including
blockchain, the Internet of things, augmented reality and artificial intelligence to help their
digital campaigns.
The study refers to a change in emphasis on return on investment (ROI) rather than the flag-
planting strategy of marketing progression. Customer loyalty and product personalisation are
the main reasons for MarTech expenditure according to the study. However, 64 per cent of
marketers across India have seen a lack of internal expertise, although 59 per cent cites cross-
organisational penetration as an obstacle to growth in MarTech.
India is an exciting market for brands and marketers, particularly with government initiatives
like Digital India, according to Mark Read, CEO, WPP, and there is a massive opportunity for
marketers to reach out and connect with the audience through integrated marketing tools.
"Effective MarTech innovation enables brands to assimilate numerous touchpoints and data-
driven solutions, enabling intelligent decision making and process automation. With increasing
consumer demands, MarTech is the key to sustained consumer relationships and ROI," he
added.
Additionally, the study also reveals that data and analytics capabilities will become an essential
recruiting requirement for marketers as 70 per cent of marketers agree that the combination of
innovation and technology would be the secret to developing effective marketing ads across
industries. MarTech is dramatically changing India's marketing environment by creating
interest and inspiring marketers to establish compelling brand connectivity and customer
interaction strategies, said Hareesh Tibrewala, Joint CEO, Mirum. "We hope that the insights
will benefit the industry and decision-makers to build robust strategies for optimal consumer
engagement," he said.
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Chapter 2
Major MarTech Players in India
The SAP Marketing Cloud gives you a 360 ° view of each of your clients and their reasons and
criteria. Based on context-driven communication, all applicable consumer signs are detected in
real-time, and the corresponding buying intentions are registered – through all platforms. Using
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this info, the SAP Marketing Cloud Platform continuously updates an all-round profile for both
current and future customers.
It provides details on the particular consumers 'previous purchasing patterns, predictions on
potential future purchase activity and oriented desires. The approach details whether and when
the client goes, which services and apps they use, and how they are most likely to reach a call
centre or sales workers.
Using SAP Marketing Cloud's targeting capabilities, the marketing department will reach
consumers via personalised 1-to-1 promotions on the website, through email, digital ads, sales
prompt, telephone or push messaging on mobile end devices. It will allow you to have a tailored
and reliable, topic-relevant experience for consumers and to adapt proactively to their needs.
Real-time marketing information would help you to adapt flexibly to changes and
developments, as well as customise your activities to suit them.
The SAP Marketing Cloud simplifies the marketing department's everyday activity by
implementing two fundamental principles: Information base aggregation and automation.
Your communications specialists operate for a single framework instead of hierarchical data
silos and Excel databases, which use both master data which engagement data to target clients,
connections and prospective customers directly. The program helps in the deployment of a
range of automation, such as automatic marketing procedures, customisations, statistical
modelling, feedback, and data enrichment.
In comparison to the customer-specific strategy, the marketing team also helps the sales
department seamlessly by transferring potential leads directly to the SAP CRM or SAP Sales
Cloud.
As for both B2C and B2B, the approach has proved itself. In addition to traditional interfaces
to SAP applications, the SAP Marketing Cloud provides open-platform frameworks to link and
access the knowledge from the most critical data sources.
Salesforce is the most prominent and most well-recognised CRM, by far. This remarkable
degree of performance is well-deserved thanks to Salesforce's numerous tremendous benefits
and ample support for its customers. Using this CRM has a great many advantages, and various
businesses can find some more useful and essential than others.
Salesforce offers an outstanding design and function framework. The CRM provides the
infrastructure software required to facilitate simple data sharing across different agencies,
unified consumer details, a variety of reporting and statistical tools and the flexibility to operate
on any server, laptop, desktop or mobile device.
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Salesforce also offers robust data storage and confidentiality, meaning no leakage or misuse of
confidential details. Salesforce is delivering the tools that workers need to improve their
performance and profitability. Customers also would benefit from increased customer support.
Salesforce provides strong applicability across a wide variety of specific industries and
organisations. The secret to this effective strategy lies in its ability for versatility and
customisation. Salesforce is highly aligned with a variety of various market structures since it
will offer analysis and insights customised to the unique demands of the customers.
Furthermore, Salesforce allows businesses to quantify and track the effectiveness of their
marketing initiatives, and to automate such outreach activities as required continually. It allows
for a completely integrated device to operate on its own and can be automated. The Salesforce
software program also ensures workers can use it frequently from anywhere, providing
unprecedented versatility.
To maintain the distinctive simplicity of use and to inform the clients about the excellent
accessibility, versatility, and configuration opportunities it provides, Salesforce has spent an
enormous amount of energy, capital, and ingenuity in delivering a unique assortment of
services for consumers. Salesforce provides instructional and insightful forums, and article
updates regularly hold interactive webinars, operates its own YouTube channel of content
spanning a wide variety of subjects, and produces a detailed web-accessible user guide as well.
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Chapter 3
Sub-Domains of MarTech
3.1 Sales-Automation
Inside the selling method, there are several things that are tedious, but you realize you need to
do them to maintain the loop moving. The sales managers have to carry out a certain number
of duties, whilst the sales representatives have another collection.
Such tedious activities are not only quickly dull but also a burden on the energy and
productivity of anyone who has to do them. Sure, everything will come to a stop without doing
them – but a lot of them do not require human contact at all.
Sales automation takes all such time-consuming activities that are done on a regular, weekly,
or monthly basis, as well as specific activities that are caused by a specified occurrence and
executed for you. This makes all (and everyone) more productive, which has a direct
connection to the sales team's revenue. And don't ignore the human error factor, which the
selling and marketing automation engines totally remove.
Distinct activities that are ideal for automation include demand creation and other
documentation, but other procedures involve forwarding related details to potential leads,
assigning assignments to actual sales reps or teams, carrying on missed calls to another
employee, and holding managers up-to-date with what each reaction means.
Lead Distribution
Sales automation engine distributes based on zip code, region, state, value object, nearest sales
individual or some other criterion that you need. This is a very critical aspect of sales teams
who sell on the spot because leads are immediately allocated.
Lead Prioritization
Sales routing often helps you to classify leads in the selling cycle at the time, enabling you to
concentrate on those who are more likely to be converted. What do you know which is the most
probable? By designing the dream customer and ranking the lead according to your own
parameters.
Sales Alerts
The sales automation system can warn the business team if, for example, the leaders take a
business-specific step – spend 5 minutes or more on the checkout tab. You should set your own
standards for notifying salespersons. You should set up the update on your smartphone or via
telephone.
Automated Reporting
Selling managers will automate hundreds of reports that offer their sales cycle inside details.
How many calls have been made, how many follow-ups are expected, what is in the queue,
what are the future demand estimates.
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Sales Automation Pays for Itself
The sales automation program can become conscious of the lead's desires as part of the
certification phase by monitoring their attitude, purpose and behaviour. It could also be from a
promotional campaign that you conducted, telling the program how the lead perceived the
commercial, and what it was about the business that may have attracted the attention of the
lead. By having the lead's email address, the sales automation program will then deliver
personalized messages to the user. When they enjoyed looking at Product A, so Product B is
definitely something they should consider, so here's an email pointing out all of the advantages
of having Product B. If the lead follows a connection in that text, you may be almost assured
that are involved in Product B, and maybe like Product C or perhaps they'd like to sign up for
this specific training course ... and so forth and so forth.
Through regularly sending out such material, confidence and a partnership would be
established with the lead, who could well move on to buy Product F or G – whether you or a
sales manager were needed to manually deliver all the emails to this point, it may have been a
waste of precious resources, so by utilizing software, the method involves little human
intervention before the transaction has to be closed – and maybe not even the procedure.
Content Marketing
All in online marketing is about online. The digital universe is an enormous array of material
in different formats, such as text, pictures, audio, and video. The goal of a digital marketing
strategy is to attract prospective clients by utilizing the material. Typically, the material is
released on a website and then marketed by social networking, email marketing, SEO
campaigns or even PPC campaigns. The distinction between creating a blog and operating a
digital marketing strategy is that the latter has clear goals on what digital to post and where to
post it, how to reach, and how to track the success of the advertising promotions.
The core content-marketing methods are:
• Blogs
• eBooks
• Online Courses
• Infographics
• Podcasts
• Webinars
3.3 Chatbots
A chatbot is an artificial intelligence (AI) program that can mimic a natural language dialogue
(or chat) with a user via email systems, blogs, smartphone phones, or via telephone.
Working of Chatbots-
There are two different tasks at the core of a chatbot:
1. User request analysis - It is the first job a chatbot undertakes. It analyses the request of the
user to define the purpose of the user and to extract the individuals concerned. The capacity
to recognize the use of the user and to retrieve details and related individuals found in the
request of the user is the first requirement and the most crucial stage at the heart of a
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chatbot: if you are unable to interpret the question of the user correctly, you would not be
able to deliver the appropriate response.
2. Returning the response - If a user's purpose has been established, the chatbot will provide
the user's question with the most suitable answer. The possible solutions are-
a. A generic and predefined text
b. A text retrieved from a knowledge base that contains different answers
c. A contextualized piece of information based on data the user has provided
d. Data stored in enterprise systems
e. The result of an action that the chatbot performed by interacting with one or more
backend application
f. A disambiguating question that helps the chatbot to correctly understand the user's
request
Below are the benefits businesses realize when using chatbots-
1. Save Time and Money
Through automating interactions which would otherwise allow an individual to react,
companies are saving time and resources which can then be diverted to other initiatives.
Rather than have the members waste all their energy addressing inbound queries, such
entities re-allocate resources and proactively discover meaningful discussions and enter
using social communication devices. The time you save decreases as the amount of the
incoming message rises. And because Sprout Social Data reveals the number of social
messages requesting a brand response rose by 18 per cent from 2015 to 2016, you are
saving countless hours by automating chatbot responses.
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Chapter 4
Impact of Technology on MarTech
2. Smarter Ads-
Marketers are now plunging their feet into smarter advertising, through account-based
content strategies, but AI is helping teams push this one step deeper for more
educational research. With a new abundance of accessible data, online advertising can
be smarter and more effective. AI applications for human-level results will dive deep
into keyword searches, social media and other online info.
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4.2 Impact of BlockChain on MarTech
A blockchain is, in plain terms, a shared distributed public ledger, that is, a network spanning
several nodes or computer devices. Every checked transaction (exchange of data) is stored in
units called blocks. Each block includes the transaction info, a timestamp and the
corresponding block's cryptographic hash.
A blockchain utilizes a Peer to Peer (P2P) network to store data at different sites, instead of
focusing on a centralized framework. Every position is called a node, and a copy of the data is
processed right out of the genesis block. Each when a new record is added to the database, it is
changed globally across all nodes on the network.
Throughout the network, users validate the transactions by solving a math problem. When the
block has been checked, it is connected to the current blockchain. Can't delete a checked
component, so this is where the blockchain's immutability feature falls into the frame.
Why Blockchain in Marketing?
To understand how blockchain will change the marketing landscape, let's look at the three
fundamental reasons why blockchain is rapidly gaining widespread adoption:
1. Decentralization:
There is one (or more) entity known as the server which houses all the information in a
centralized or client-server model, and you (the client) must connect with the server to
obtain access to the data. Of starters, if you decide to transfer money over the Internet
to anyone, you need to do it by going through a middleman like a bank.
The distributed paradigm is vulnerable to multiple risks such as data breaches, as well
as the introduction of a middleman.
On the other side, they decentralize a P2P network. No single host of the information
is available. In reality, any node in the system stores the data locally, as shown earlier.
And, if you want to give someone money, you can do it directly without having to route
it via a middleman.
2. Immutability:
The second factor is the protection of documents by their immutability. When a block
is checked, it is difficult to change the data contained inside. And if anyone attempts to
cheat a neighbourhood in the blockchain, the details along with the hash of the previous
blocks would alter dramatically. Because the whole network has shifted today, this
cannot be checked by any other server. Anyone who wants to break into the blockchain
has to alter records at any node, which is nearly impossible.
3. Transparency:
Because blockchain is a decentralized public ledger, all participants of the network have
links to the transactions that took place. Although this feature will raise individual
eyebrows, there is no reason to do so since while the deals are visible to users of the
blockchain, the identification of users stays secret.
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Chapter 5
Emerging and Future Trends on MarTech
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TrueView for Google Shopping Advertising would add YouTube videos of featured items from
the already popular Google Shopping platform for advertisers seeking to maximize sales.
Customers are led to the goods in the video with one button and can purchase them without
any intermediate measures, dramatically reducing friction.
And for any social media or Amazon advertisers, all platforms have tons of extra video
exposure tools, whether it's in-stream video advertisements on Facebook, or expanded brand
information videos on Amazon's product overview accounts.
Only your own platform and email communication portal provide lots of ways to improve the
customer experience by taking advantage of photos, addressing often asked questions,
delivering product demos, and more.
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