Dr Chris Boorman, marketing leader EMEA and APAC, Forcepoint shares the top 10 tips for making your marketing technology a success. Kavita Singh reports.
1. Be data driven, not delirious
It is important to stay on top of your data processes. Being in control of your data in the B2B world will be imperative to understanding what your goals are in the first place. If you can understand the pipeline and the conversion metrics at every stage of the funnel, then you can start looking at your data, and draw conclusions on what issues have developed.
Chris used to work for a business automation vendor as its CMO a few years ago, and at the time, the company saw the conversion from web visitors to fulfils was less than 0.2%.
Because of the poor showing, Chris brought in an agency to help the company rework all of the pages and how it presented the information to make it more engaging and emotive. It moved the corporate lingo to a human engagement perspective, and the result showed an increase from 0.2% to 7%.
He says: “Believe me, there are always areas for improvement. Don’t try and boil the ocean though, take it step by step, and issues with lead flow and data won’t be too tricky to spot. Identify what is causing them and focus on the technology, people and processes, and this will be the only way to get a comprehensive lay of the land.”
2. Remember to keep it simple
There is a tendency to add complexity to tech stacks, but less is more, and refraining from that extra bit of customisation will actually help you in the long-run. If you have the urge to over customise, you have to ask yourself ‘why now?’. A good golden rule to follow is thou shalt not seek and customise, according to Chris. These days, companies are obsessed with tools, but companies need more than that in order to truly enhance and evolve.
Chris says: “One of my old team moved on to a different organisation, and they basically said, ‘Yes, we have marketing automation, but only the operations team can access them.’ And they are just full of just complex stuff that has absolutely no value.”
3. Focus on the problems you face and what you have
Focus on the problems you face and on the fundamentals, so you can understand what you are trying to solve in the first place. Do you really understand the business problem you’re trying to solve? Don’t forget, you are driving revenue. And if you’re driving revenue, what does that mean from a funnel perspective from a pipeline perspective?
Don’t let technology drive your decisions. Oftentimes, a piece of martech will just be sitting there, and nobody owns it. Ensure that somebody owns a framework around martech that everyone can understand. Think more long-term instead of the instant gratification with tech stacks.
4. Learn from others
Before implementing a piece of technology, talk to people that the vendors have sold to in order to understand what reality really looks like. Perhaps communicating with other businesses can help narrow down your list.
Be aware that it may not be the best time to implement something.
He says: “I’m a firm believer in asking other CMOs about how they do things. I often find that there is a different, perhaps even better way of achieving the same goal, without necessarily needing to invest in new technology. I’ve often seen marketing organisations unable to take advantage of technology that’s been brought in, and that’s often where partners come into their own in helping.”
5. Make a decision and then make it work
Once you’ve been given the facts, understand the requirements. Once you finally make a decision, make it work and see it through. Chris often sees projects start off well and then another initiative takes priority. Collaboration will be key whether you keep some sort of documentation, start a Slack channel or schedule weekly Zoom meetings with your team.
6. Partner wisely and avoid suppliers
Chris advises to partner wisely and avoid simple suppliers. He often looks to partners to come in and help in specific areas he’s working on, whether it’s optimising its martech infrastructure or helping with a social programme targeting personas. Some partners strive to contribute and align with your objectives. They also push back if they feel you’re going in the wrong direction. These are the types of partners you’ll want to connect with. While it’s good to have in house skills, partners can brainstorm fresh ideas that go way beyond the technology.
7. Think global, involve global
Thinking globally can help businesses spark new ideas rather than duplicating purchases at a local level. While you’ll have to consider time zones, languages and delivery options, having a global perspective can help your company stand out on a regional level.
8. Communicate, communicate, communicate
For your entire project, having a clear communicating plan is key. A lot of the time, if something falls apart, it can be attributed to a lack of communication. Communicating with your broader team about sales alignment can ensure that your partners understand what you’re trying to do. Make sure you pinpoint the key stakeholders early on in your working sessions so they’re looped in from the jump.
9. Build in review cycles
Think about a long term strategy instead of short term wins. Management is often interested in delivering value as soon as possible. So become agile and build in reviews. Check what’s happening, review it and then course correct if needed. At the end of the day, course corrections are important, and becoming agile is a very important thing to do and for the implementation of an audit. Implementing an agile approach delivers and puts some scores on the doors quickly.
10. Be guided by your revenue goals
Revenue brand is incredibly important. If your target audience knows who you are as a brand, then revenue should be your brand driver. Chris concludes: “So I’ve had the privilege and the honour to be a CMO for a variety of very well-known B2B organisations. I’ve worked for a number of different CEOs and every single CEO that I’ve worked for, they have a goal of delivering shareholder value, and this means hitting the revenue targets and delivering the margin.”
