The Future Of MarTech With Dan McGaw
Accelerating Sales to Scale your Business
Marketing Technology, better known as MarTech, is getting bigger and bigger as business owners look for the right tools to achieve their business and marketing goals. Dan McGaw, the godfather of MarTech, is here today to share his wisdom on picking the right apps from an ocean of 9,400 currently available. He also shares some MarTech that you’ve probably never heard of but should be using, the future of MarTech, and the role that marketplaces will play.
06:16 – What are the key problems Dan helps people to solve? Lack of visibility in your customer journey and optimization of the funnel to convert faster.
07:11 – What is a customer journey? What is the process someone goes through when buying your product?
09:38 – The future of Martech. Growth and consolidation.
11:45 – Marketplaces will take the pressure off salespeople. Most buyers don't want to
talk to sales.
16:20 – Where does Dan look for new Martech? Inbox, LinkedIn, Appsumo, Reddit.
22:28 – The Sales Deep Dive. Dan's sales habits.
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Technology stack to map your customer journey
People think of Google analytics as an excellent analytics product. And it is, but in the modern-day, there are products out there like Hotjar or Amplitude that help you see your customer journey on your website in much more detail. For example, Amplitude is completely free for up to 10 million events per month (the actions people take). And if you have a developer that can help instrument it. You can understand who’s visiting your site, what they’re doing on the site, every page they visit and see your customer journey visually, which will allow you to optimize and figure out how you drive that business.
What to expect from MarTech moving forward?
According to Dan, the last study showed around 9,400 marketing tools. He thinks there is going to be a lot of consolidation in this area, especially over the next five years. Why? Big companies need to add revenue to keep their stock price high, so they’re going to acquire a company to get its revenue. So going back to martech, tools are now getting smaller and smaller compared to big platforms like Salesforce or Marketo.
We still see platforms like that, but the growth in tools is coming today in marketplace ecosystems like Shopify. There are thousands of micro tools that you plug into Shopify, and that trend is not going to slow down because you have additional marketplaces like HubSpot or Salesforce or other marketplaces where you can find other apps. So Dan is sure we’re going still to see growth, also some consolidation in that area.
What are the metrics you should be looking at when you’re picking a tool?
These are Dan’s 5 main criteria when choosing to use or invest in a new tool:
- How will the new tool integrate with the rest of your stack?
- Who is the founding team? What have they done? What have they been around in the past?
- How is the data architecture set up? How do they structure their data? What is going to be that taxonomy?
- Is the new tool going to add value? How is this going to work compared to what they’re selling?
- What is your team capable of doing with the tool? Is your team going to be able to use it, or do they need some technical expertise?
The Sales Deep Dive
What are the sales habits that help you accelerate your sales?
I’m super active on LinkedIn. So one of the things I try to do is monitor the leads that are coming in and the deals that we’re working on. I’m constantly trying to connect with those people on LinkedIn as well as communicate and engage with them and build rapport. That is one of the biggest things that I try to make sure that I get accomplished every single morning.
Another thing that we focus a lot of time on is getting people a copy of my book. So we’re constantly looking at leads coming into the system and then saying: “Hey, listen, I noticed that you were coming by the site would love to get you a free copy of my book, no strings attached. I Just want to make sure that you can get to the next level with your stack”.
What are some of the tech tools you use to accelerate your sales?
I would definitely say it’s hard to give you one, but I will say Mixmax is by far the one that helps me do so much. It’s a Gmail and outlook plugin, but it gives me superpowers in my Gmail inbox and integrates with Salesforce. But that by far is my 10 X tool for sales, efficiency, and productivity.
What’s the best source of leads for your business?
We’re a content marketing shop through and through. So we do a lot of blog posts and things like that. We get a lot of people who come to the site, but our biggest lead generation place is through webinars. We do a lot of partner webinars, and honestly, it’s the most profitable type of marketing campaign that we’ve ever done. Webinars will drive a massive amount of leads and a ton of people you can talk to.
What is one action that someone can take to 10 X their sales today?
Get a better marketing automation platform, automate as much as you can, and get sales from all the manual work. The biggest failure we see is that automation is not being used in a good way. You should not be automating every email to the customer, but you should be automating as much of the backend operations for that sales rep as you can. And most people don’t even scratch the surface with that.
About Dan McGaw
Dan is an award-winning entrepreneur and speaker with 20+ years of experience in marketing technology and analytics.
Dan was formerly the head of marketing at Kissmetrics and was head of growth at CodeSchool.com which was acquired by Pluralsight.
Coined as one of the original growth hackers, and one of the godfathers of marketing technology, he has helped thousands of companies over his career.