Exploring MarTech for Home Builders
As we progress technologically, it’s easy to get lost in the sea of digital products that claim to make your life easier. We often reach for the bright, shininess of newly available MarTech without considering all the factors involved.
In this month’s Builder Town Hall, we sat down with Kerry Mulcrone of Kerry and Co., Angela McKay, Director of Homefiniti Client Experience, ONeil Interactive, and Beth Phillips, Marketing Manager at Caviness & Cates Communities, to discuss the nitty-gritty of MarTech and how to ensure you’re getting the most out of your investment.
What Is MarTech?
MarTech—or marketing technology—is a term that encompasses any marketing technology that helps accomplish goals for the sales and marketing department. It helps us get work done efficiently and effectively while providing a quality experience for our customers.
Unbeknownst to you, you are likely already using MarTech! CRM, CMS, email marketing tools, SEO management tools, and social media management tools all fall under the umbrella of MarTech.
Stack ‘Em Up
While each product can benefit your company, you’ll likely find more success when you combine them to create a MarTech stack.
This stack can include in-house and agency-provided programs. Each piece of technology should provide you with quality data, streamline operations, improve your customer experience, and/or assist with the management and performance of day-to-day tasks. To optimize your MarTech stack, it’s essential to ensure that these programs are fulfilling one or more of these roles.
Builders who use MarTech benefit abundantly in their marketing strategy and performance. However—like with any technology—these advantages come with their challenges.
When instituting a new technology, it’s not uncommon to face a few setbacks. For example, organizations will often invest in a program that ultimately doesn’t get used. Whether the technology is too difficult, doesn’t fit the culture, or results in extra work, it is frustrating to invest in something with minimal to no return.
Builders will also often run into the issue of an “eventual” integration. If you don’t go by what is promised at the time of purchase, you risk the possibility that the proposed “eventual” will, in fact, never happen.
Often builders will back themselves into a corner by leasing a specific MarTech product. They will then find themselves locked in with that provider with little to no flexibility.
So What Do We Do?
Don’t let these setbacks scare you away. When you take the time to analyze your organization’s needs, you can be sure to invest in a MarTech product that best suits you!
Once you can provide tangible data—whether that be surveys or numbers—to prove there is, in fact, a need present, you can move forward with finding a tool to support that need.
It is imperative to ask questions to fully understand what you can gain from new technology. Be sure to ask the following:
- How will this integrate with the rest of your stack?
- How easy is this to use?
- What does it cost (in terms of money and time)?
- Does it provide flexibility/customization?
- What do the contracts look like?
- Will it fit into the culture of your organization?
- Is it the proper time to institute new technology?
- Who owns the data collected and stored through the product?
- Does this enhance a process you are presently doing?
After these questions have been asked and answered, you are less likely to face the difficulties of integrating MarTech into your organization.
We look forward to seeing you at our next Builder Town Hall! Mark your calendar and register today for our session on June 3, where we will dive deeper into the intricacies of MarTech.
In the meantime, be sure to join our Builder Town Hall Facebook Group and keep the conversation going!