Technology is moving at the speed of light. From one day to the next, new tools, trends and capabilities take flight. As a B2B marketer in this high-speed, high-stakes environment, it’s tough to know if you’re really getting the most out of your martech investments. Whether you’re adding new technologies, or evaluating existing ones, how can you be sure that your martech stack packs a powerful punch?
Well, that’s what Widen set out to answer with our 2018 Marketing Technology Survey. We surveyed fellow martech users from around the globe and here’s what they had to say!
1. Connect your tools
There’s no doubt that the right combination of marketing technologies can make your life easier. But for this to happen, they need to work together. When we asked our customers which of their existing software solutions made the most sense to integrate with our digital asset management platform, only 19% failed to name a solution. These findings suggest that our customers – the actual users of martech – recognize the value in integrating their marketing tools.
Without an integrated marketing stack, you are not your most efficient and informed self. If your systems don’t communicate with each other, you’ll end up picking up the slack. From analyzing incomplete data to uploading and downloading assets between systems, the manual work will fall on your team. Instead, talk to your tech vendors. Ask about integrations or solutions that will help you connect your go-to tools so you can automate, scale and streamline your efforts.
2. Drive more sales
As technology advances and big data becomes mainstream, B2B marketers are under more pressure than ever to justify their technology investments in terms of not only cost savings, but sales. When we asked our customers: “How does Widen improve your business?”, the majority indicated they see benefits related to cost savings. However, 68.4% more respondents credited revenue-driving benefits, than in 2017. This significant increase signals a shift in mindset. While cost savings are still a critical success metric, B2B marketers are also looking to their marketing technologies as a way to increase business outcomes like sales.
If you haven’t already, broaden your perspective ever so slightly. Instead of only harvesting cost savings data, evaluate how your martech stack helps to generate sales. Then use this data to make real-time decisions and strategize for the future. If you can predict the success rate of particular efforts, you’ll be better equipped to take the most successful, profitable path in the future.
3. Crack the code to personalization
You know how important it is to give your targeted audiences a personalized experience. But do you know how to achieve it day in and day out across all of your marketing channels? Our survey says: It’s a challenge.
When we asked both customers and non-customers: “What does personalization mean to you and your business?” more than 80% provided a definition that demonstrated understanding. In a separate, not-yet-released report about the state of connectivity for marketers and creatives, we also discovered that 92% of general-market respondents think personalization at scale is attainable. Despite these findings, more than 58% are unsure of how to achieve it at scale in their marketing. So, how do you close the gap between perception and reality?
Here’s where your martech stack comes in. It can help you, but only if you know how to leverage it. As our tools become more and more robust, it’s easy to get caught up in platform capabilities and features. However, before diving into execution mode, make sure you have a firm understanding of your target market. Who are they and what kind of content and experiences do they demand? Whether you analyze audience activity or evaluate how your internal teams leverage sales collateral, you must use your marketing technologies to inform your audience decisions. From here, you can take advantage of personalization capabilities across your favorite tools.
4. Speak up
With martech spend accounting for 22% of marketing budgets, CMOs and their teams must flex their marketing-technology muscles and prove they have the know-how to support budgets. And, this involves snagging a seat at the decision-maker’s table. After all, shouldn’t marketing teams have a say in the technologies that power their teams? Our survey supports this trend, with only 26.5% of participants (both Widen customers and non-customers) indicating that technology investment decisions live with CIOs, CTOs, or management within the IT department.
Whether or not this is the case at your organization, the point is that to get the most out your martech stack you need to have the right tools. And, for this to happen, marketing must be involved in the decision-making process. At the very least, make your voice heard. What challenges do you need to solve? What other technologies do you rely on? What people and process considerations are top of mind? Without your strategic involvement, user adoption, data and content cohesion, and your bottom line will suffer.
How do you stack up?
A well-oiled, power-packed martech stack doesn’t happen overnight. Technology can make your life easier, but it can also make it painfully difficult. The trick is to line up technologies that address your biggest needs as an organization, and then squeeze every ounce of value out of them. Want to learn more about what our martech survey participants had to say? Check out more actionable findings from our 2018 Marketing Technology Survey.
