If you are leading a digital team within your organisation, you know the importance of a robust and integrated marketing technology stack. You would also understand the importance of an operating model that allows you to focus on your company’s overall marketing goals and objectives. But are you drowning in operational challenges and support issues that are holding you back?
According to a recent survey by Gartner1, only 42% of MarTech stack capabilities are used today, as compared to 58% in 2022. If this is the case for your organisation, this is money being wasted - there is a significant gap between what has been invested in the technology you have and what you are utilising.
To take this further, your marketing is lacking in a number of areas, including:
- Wasted resources and budget
- Missed opportunities for optimization and innovation
- Reduced agility and scalability
- Lower customer satisfaction and loyalty
Closing the Gap
So how can you close this gap and fully optimise your MarTech stack? Here are some things we recommend you consider:
- Audit your current MarTech stack. Identify what technologies you have, how they are connected, what capabilities they offer, and how they align with your marketing objectives and processes. You can use frameworks such as Gartner’s Magic Quadrant2 or Forrester’s Wave3 to evaluate the strengths and weaknesses of different vendors and solutions.
- Prioritize your MarTech needs. Based on your audit, determine which capabilities are essential, nice-to-have, or redundant for your current and future marketing needs. You can use criteria such as business impact, user adoption, data quality, integration complexity, vendor support, etc. to rank your priorities.
- Optimise your MarTech usage. For each capability that you have prioritized, make sure that you are using it effectively and efficiently. This may involve things like training your users, updating your workflows, automating your tasks, enhancing your data sources, and testing new features.
- Consolidate or replace your MarTech tools. For each capability that you have deprioritized or found redundant, consider whether you can consolidate it with another tool or replace it with a better alternative. This may help you reduce costs, simplify integration, improve performance, and avoid vendor lock-in.
- Monitor and measure your MarTech outcomes. Keep track of how your optimised MarTech stack is delivering value to your marketing goals and strategies. You can use metrics such as ROI, customer satisfaction, and conversion rates to evaluate your results and identify areas for improvement.
The Right Partner to Help You Unlock Your MarTech Stack
The Dataweavers WebOps Platform allows your internal marketing team and Digital Agency partners to focus on innovation and building great digital experiences, not fighting operational fires!
To help you, our specialty is serving your clientele an optimised digital experience that they can count on regardless of peak demand. What's more, your costs reflect the number of resources your business needs at the time. We optimise your cost in near real-time, activating exactly the MarTech stack you need in order to serve the customers you have.
We are happy to consult with you to determine the exact needs of your company. Please get in touch with us if you feel your MarTech costs are too high, or if you simply believe there may be a way to optimise your ROI.
To find more MarTech resources visit dataweavers.com/cmo/velocity
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