Are you feeling a bit like a kid in a candy store when you consider all of the available marketing technologies? Marketing technologies have been evolving at a rapid pace; it now includes  7040 marketing technology solutions from nearly as many unique marketing technology provides. These technologies are often referred to by three letter acronyms such as CRM (customer relationship management), DAM/MAM (digital asset or marketing asset management), MOM (marketing operations management), MAP (marketing automation platforms), and MRM (marketing resource management). They include everything from platforms and tools to support Campaign Management, Digital and Online marketing, Social Media platforms, Marketing Analytics, workflow, Performance Management, and reporting. With so many choices, it’s easy to become overwhelmed. But Marketing technology and all that it entails is here to stay.

Keeping up and selecting the right Marketing technology and tools has become an almost impossible challenge.  There are hundreds of people offering to help you. Why? Because the technologies and tools you choose, how you implement them, and the processes and skills you need to properly use them will greatly impact your capabilities and how well the technologies serve you in improving and proving the value of Marketing.

When you select and leverage the right mix of technologies, you and your company will be able to use these tools:

  • As a source of competitive advantage
  • To automate/streamline, measure, and enhance your capabilities

Make Your MarTech Investments Payoff

Make Sure You Have the Basic Tools First

This brings to mind some sound advice from my father. I loved going to Sears with him (yes I just dated myself, no Home Depots or Lowes back then) and marveling at all the Craftsmen tools. When we first started building my tool box, we created a list of the basics and the order in which to purchase them: a sturdy tool box, a measuring tape, a hammer and nails, screwdrivers and screws, pliers, and a wrench. Money permitting, I would purchase one of the tools from the list and he would then carefully instruct me how to use it safely and properly.

As you examine your Marketing technology (tools), do you have the basics and know how to use them proficiently? If not, your first step is to create your list; this becomes your technology road map.

Performance and Operational excellence assessment

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Answer These 6 Questions Before You Invest in Your Next Marketing Technology Tool

We’re not going to try and tell you which tool to buy. Rather, I hope you’ll keep the advice my father made as we made subsequent visits to the hardware store, where there was always a new shiny tool that I coveted for my growing toolbox- a drill, a vise grip, a saw, a chisel, etc. As I would reach for a tool, he would ask these questions:

  1. Do you know the purpose of that tool and what problem it solves?
  2. Is it a general-purpose tool or something that is designed to solve a specific problem?
  3. Do you already have all your general-purpose tools?
  4. How likely and how frequently will you face that specific problem and really need the special-purpose tool?
  5. How does it fit in with the tools you already have?
  6. Do you know what it takes to use it and do you have a plan to learn how to use it properly?

It seems like my dad’s advice serves marketers well. Here are four of his most useful tips that apply to marketers selecting Marketing technology. Marketing toolbox

  1. Develop your requirements and selection criteria
  2. Create your road map so you have a plan for what tools you need to add, for what purpose and when. If the situation changes, modify your road map.
  3. Take into account what you will need to make the tool work (data, processes and skills) and build this into to your timing and investment.
  4. Have a plan for usage and adoption otherwise the tool will just look pretty in the toolbox.

Learn more about Marketing Technology: The Power Tools for Optimizing Performance and Agility. Better yet, give us a call once you have your tools to make sure they enabling you to excel.

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