You can’t compare software solutions or assess how well they will meet your needs if you don’t know exactly what those needs are.Ī business targeting a demographic of consumers aged 25-35 with an average $50 purchase history will have very different martech needs than a global B2B company dealing with C-suite executives, for example. While tools can help you carry out many aspects of your marketing plan, they don’t replace the strong foundation of a solid marketing strategy. So how do you make sure to pick the right martech for your business? It starts with being clear on what exactly you want to achieve and how you hope technology can assist you with this. However if money went to solutions that were a bad fit for the organization and their workflow, this would mean not only a direct loss of the capital spent on the technology, but also the lost sales and loss of efficiency that may have been achieved with a better software solution. Used on the right tools, this would be considered money well spent. Martech spend increased to almost a third of the average marketing budget in 2018. One of the core ideas of the martech stack is that each tool should integrate and interact with the others you’re using to drive your marketing success.Ĭhoosing the wrong tools can be a costly mistake. It’s not only important to choose the right software solutions for your business, but also to choose the right mix. It’s estimated there are over 6,800 marketing technology solutions available from over 6,200 vendors, so how on earth do you know where to start? Your data should be centralized while your martech tools should be integrated with each other.Martech should enable a multi-channel customer experience.There are around 7,000 martech solutions available today that fit into six categories.Be clear on your objectives before considering whether you can use martech to achieve them.But by carefully planning your martech stack, you can better organize your data, manage your marketing campaigns, and ensure that your budget is being used wisely on activities with the highest ROI.
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