Following Malaysian Tech Month 2020 (MTM 2020), MDEC in collaboration with MARKETING Magazine is hosting a three-part roundtable series titled ‘Helping Entrepreneurs Win’ aimed at providing local SMEs with valuable insights and encouraging them to treat their digital investments as more than just an automation tool.
Moderated by CMO of MDEC, the first session kicked-off yesterday with a live discussion on MarTech. Marketing and digital experts part of the roundtable discussion were Former President of MDA and CEO of Antsomi, Serm Teck Choon; Senior Digital Consultant of R3, Swathi Eashwer and CEO of IPG Mediabrands, Bala Pomaleh.
On his Facebook page, Bala posted three of his key takeaways from the session:
1. Spend time to develop a robust marketing or business plan as Martech tools are enablers rather than strategies. Martech tools can amplify a good plan with better effectiveness and efficiencies.
2. Digital and Data knowledge needs to be basic requirement for everyone in Marketing and Communications as people spend an inordinate time online resulting in increasing number of digital platforms. There are about 8000 Martech solutions in 2020 vs 150 in 2011 (source – chiefmartec.com)
3. Don’t rush into investing in Martech solutions without considering the total investment and commitment required. Getting the best in class tool needs an experienced team of people to ensure the tool is put to full use. According to Gartner, less than 60% of the tools full capabilities are used. There are various free Martech tools that SMEs can use to experiment and build knowledge before they progress to more complex tools. Here are some tools that are free and paid at : https://buffer.com/library/free-marketing-tools/amp/
Serm also took to Facebook to discuss three of his key takeaways:
1. At a time like this, uncertainty is the norm. While planning is important, we also need to adapt and adjust quickly when changes happen. The only way to survive is to constantly learn and upskill yourself – for both organizations and people!
2. There are many free and affordable MarTech tools and software available in the market. SMEs should experiment with them and see how they can help in their businesses. Don’t be afraid of trial and error. You have to face failure if you don’t try.
3. Data has become core to many businesses. Hence, developing a data strategy is very important for all businesses in the next 3 to 5 years. Start now, take ownership of your data and make magic happen on top of it – with the help of the right team and suitable technologies!
Following yesterday’s discussion, the second part of the roundtable series happens today at 3pm and will follow-through the conversation with a discussion on AdTech.
Ad Tech when optimally used should cover the entire delivery process, right from the content of your ad to the audience it will reach. Using data and analytics, AdTech can help businesses see the ‘bigger picture’ by allowing them to reach a more relevant audience, with a lesser budget. Hence, the key significance of understanding and using Ad Tech effectively lies in its cost-saving benefits.
Businesses that learn to take the digital resources they have at hand a step further and in-house their advertising, are more likely to see sustainable business growth.