Businesses Rise to the Martech Challenge

by David Choi, Senior Director, Global Solutions ConsultingSep 4, 2018

Businesses Rise to the Martech Challenge

Martech solutions are evolving at a staggering pace. There are currently 6,829 marketing solutions from 6,242 vendors in 48 categories that make up the martech solution landscape. And over 1,500 (or roughly 21%) of those vendors were added over the last year alone. But the vast amount of options isn’t deterring marketers from too many choices—half of marketers evaluate their martech stack at least every six months; with a slew of new solutions available, it’s understandable they would want to re-evaluate and re-invest in the solutions that will help them achieve their marketing objectives.

In fact, the majority of marketing organizations (65%) intend to invest more in martech over the next year. However, many struggle to drive adoption of these tools internally due to resistance to change and lack of agility in adopting new martech solutions.

As companies get more comfortable with the menu of martech solutions available and adopt the tools that are right for them, they’ll need processes and man-power in place to optimize their usage of the tools. Here are some tips to keep in mind.

Ensure Your Solutions Align to Business Objectives

The best marketing strategies are primed for the long game, meaning they have a roadmap that gives them time and resources to establish a foundation, execute on specific platforms and then optimize to see true success. The roadmap should also include preparing your marketing tech stack to help you meet program goals now and into the future. A well-established foundation for any marketing program is key to ensure alignment across teams when it comes to objectives, metrics, and technology investments.

As your marketing program matures, your martech stack will need to support your long-term objectives. With a solid vision in place, you’ll be able to start evaluating systems and partners and start solidifying budget, buy-in and an implementation roadmap.

Choose Solutions Vendors Strategically

As businesses evaluate potential martech partners, it can become overwhelming to talk to multiple vendors who all sound the same. But there are several things you can investigate when talking to your next potential martech solution partner to ensure they can deliver on your expectations and help you meet your marketing objectives. These can include:

  • Automation: The most robust platforms leverage automation, perhaps via artificial intelligence, to helps businesses execute programs at scale.
  • Data Sophistication: Determine what data the vendor is using to make decisions (such as your data, third-party data or their own).
  • Cross-Channel Capabilities: Determine if the solution is capable of executing your marketing programs across all channels, including email, the website, paid digital media, social media, mobile, and other emerging channels.
  • Analytics and Reporting: Ensure you understand how the vendor or tool will deliver results. Most importantly, make sure the insights are useful and enable you to measure the things that impact your business objectives.

Work with Martech Vendors to Ramp Up Quickly

While it’s hard for most businesses to keep up with the speed of martech’s evolution, marketers can leverage support from the vendors themselves to ensure ease of adoption and success. Vendors that offer some level of managed services can become a real partner in helping a business ramp up quickly on new tools, essentially making or breaking their success.

When evaluating martech providers with a managed services offering, determine how much hands-on support you need and if your team has the bandwidth to dive deep on the tool. In short, make sure you know what you’re getting when you select who you’ll work with.

To learn more about how you can evaluate martech vendors to ensure alignment with your marketing operation and content strategy, download the Game Changer’s Guide to Individualizing Content Experiences.

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