DaMarTech is actually an attempt at smart use of two or more meaningful words to create an interesting sounding word. So the idea was to infuse Data Analysis and Marketing Technology into one and the result is DaMarTech.
Why Data Analysis and Marketing Technology? Because that is what we are going to focus here.
It also plays out well if you are reading or hearing it as 'The MarTech' as one of our main focus is indeed Marketing Tech.
If you aren't familiar with the term MarTech or Marketing Technology let me give you a very simple introduction.
Almost all of you are aware of the function of Marketing in a business. People need to know about the service or product you are using, so that they can purchase it from you. In order for the people to know about your business, you need to use some sort of medium to get to them. Traditionally we have used printed posters, flyers, news paper and so on.
When we improved our communication technologies, we started using Radio and Television ads. And later when internet became more familiar, marketing moved there too.
Now we have email marketing, social media marketing, content marketing strategies and so many such options to reach millions of people. We broadly call them digital marketing.
When digital marketing became one of the most influential way of marketing, companies started to make software to support digital marketing efforts.
Now you have software/apps to schedule your Instagram post, emails and more. Other apps tracks visitors' activities and report it back to you. By understanding more about your customers, you can personalize your offers and expect to have a higher conversion.
So we can say Marketing Technology aka MarTech, is the term for the software and technological tools used by the marketers to plan, execute, track and measure marketing campaigns.
Though the functions of MarTech doesn't end with planning, execution, tracking and measuring. There are more and more functions are getting added to MarTech tools in order to make Marketing more effective and efficient.
Now that we have understood about MarTech in DaMarTech, lets dive into the first part DA - Data Analysis.
We have already mentioned that MarTech tools are also used to track and measure the effectiveness of marketing campaigns.
How do one measure the effectiveness of a marketing campaigns? By analyzing the data generated by the campaign!
Let's say you are selling an online course on Yoga and you've approached a marketer. She then does an Facebook Advertisement for you.
10,000 people saw the advertisement. 5000 people clicked on the ad and landed on your website where you have given all the details about your program.
500 people filled out the sign-up form to join your Live webinar. You are planning to sell your actual online course through this live webinar.
But on the actual day of the webinar only 50 showed up.
At the end of the webinar you were able to sell the course to 30 people!
Now if we didn't have any of the data, we'd be happy with the 30 people who bought the course and would go right back at the whole process without tweaking or optimising it.
But with the help of all the data, we can do an analysis and try to learn from our process and make it better.
In MarTech terminology, the whole process mentioned above is called a Funnel, because of the shape of the funnel kind of matches the conversion numbers.
10,000 people entered our funnel through the facebook ad. But only 5000 took action from it. From this data we need to understand that, our Ad needs some changes.
Maybe it should be more engaging, maybe you're reaching not to the right audience and that has to change, maybe you should change the ad words, maybe you should use some kind of discount offers. You make these changes and measure again
We fixed that and it seemed to work. But still we are only getting 10% showing up for our live webinars. After the analysis we figured out that there is a correlation between the date people are signing up and showing up. The longer the wait, lesser the people join. So we decided to make it an on-demand webinar and our numbers have improved.
Like this example, you can measure and optimize your marketing strategies if you have data and you believe in taking data driven decisions.
That is why we focus on Data Analysis and Marketing Technology - Da MarTech! Well, now that is our short introduction about DaMarTech. We are here to help you to grow your business through smart solutions and various MarTech stacks.
Get in touch with us, if you think we can help you.