There have been a flurry of mergers and acquisitions in the marketing technology industry recently. In the past year, for example, LinkedIn bought Drawbridge, an identity resolution platform; Twitter acquired Fabula AI, a machine-learning start-up that detects network manipulation; and Facebook obtained Grokstyle, a retail visual tech company.
But all of the activity in the MarTech space can misleadingly suggest that it’s all about the “tech.” Making the most of MarTech in driving growth requires some taking stock of its non-technology implications:
Use your strategy for guidance
The objective of implementing any MarTech is to simplify the execution of your marketing strategies – which means it is imperative for the technology to deliver on its purpose. Outline your tech capabilities and analyze your existing strategy ahead of time to accomplish your business goals effectively.
Evaluate your existing tools
It is easier to improve MarTech stacks when you are aware of what you have in hand – it helps you ascertain what exactly you need, and to avoid investing in unnecessary tools that remain underutilized and overlap in function.
Prioritize system integration
System integration is crucial to company’s success and its extensive benefits are known to all. Yet ensuring proper tech stack integration continues to be one of the top challenges. However, it’s a necessity that cannot be overlooked. You must go beyond your marketing strategies to unify your system and ensure solutions connect with all of your tech stacks.
Determine obstacles, gaps and overlaps
Assessing your existing tech stack will give you a clear picture of the challenges, overlaps and gaps that exist within. This will give you a fair idea of the functionalities required to meet your goals.
Focus on customer experience
MarTech has a very direct impact on customer experience. Therefore, you might want to focus on customer interaction across multiple touch points while mapping your cross-channel needs. Understanding the capabilities and functionalities that will improve customer experience will help you sync tech investments and streamline integration efforts.