What to ask when making a martech investment
Investment in martech can be really scary. From selecting the right tech to ensuring your team know how to use it, Molly Raycraft outlines the questions you should ask yourself and vendors before parting with that cash.
There’s a wealth of martech out there – 6829 products (and probably more by the time you’ve read this), according to Scott Brinker’s colossal supergraphic. So it’s forgivable if you're feeling daunted when looking to purchase a new platform.
The complex tech language and pricing models mean you need to do your research and go into any purchase with a bank of questions ready to ask. We asked some experts to help you with just that.
“If you haven’t asked critical questions for investing then there’s no case for investing,” says Kieron McCann, director of marketing and strategy at Cognifide. Quite often companies will feel pressure to invest in tech because their competitors are. Kieron recommends first asking what strategic outcome you’re trying to achieve.
“That requires going down quite a few levels,” he says. “People say the reason for investing in tech is to grow revenue, but how? The answer to those questions will shape what capabilities you need as a business.”
Dan Sands, chief strategy officer at Agent3, agrees. “The number one question people often miss is what problem they’re trying to solve.” He suggests building a criterion of exactly what you want. From there you can evaluate the tech against your criteria as you conduct your research.
This feature has been written exclusively for our b2bmarketing.net members. Membership is free and only takes five minutes to complete, giving you access to the following:
- What to ask when assessing the current landscape.
- What to ask when assessing the cost.
- What to ask when assessing your capability and culture.
- What to ask when challenging the vendors.