Strategies to Generate Higher ROI on the MarTech Stack

    ROI
    Strategies-to-Generate-Higher-ROI-on-the-MarTech-Stack

    Marketing technology stacks have evolved tremendously, and there is a paradigm shift in how marketing operations are executed. Presales teams that do not consider data and analytics for research and measurements before designing and implementing a marketing strategy, will not be able to deliver the expected results.

    Modern enterprises need robust tools with advanced features in their MarTech stack, that enables them to execute all their marketing campaigns and track them in real time to make strategic changes to deliver desired results before the timeline. Marketing leaders globally have increased their pre-sales budgets to penetrate their total addressable market with ease, standing apart from the competition. According to a recent report by Gartner,  marketing budgets have increased up to 9.5% of the overall company revenue in 2022 from 6.4% in 2021. Even though businesses of every size, type, or industry are increasing their spending on their marketing campaigns, it needs to be fruitful and should yield higher ROI to achieve desired results.

    Following are a few strategies that CMOs can consider to make a higher ROI on the MarTech Stack investments:

    Analyze the organization’s marketing channel strategy

    Enterprises that want to choose and implement the marketing tools that fit their needs; should determine the marketing strategies and all the channels that the organization embraces to reach their target audience. CMOs that evaluate their business objectives, audience, and competitors to select the best marketing channels that suit their needs will be able to align their entire RevOps and increase their reach and conversion rates. CMOs should ensure that they have highly optimized budget expenditure that has zero leaks and gaps. Organizations can look for applications with advanced capabilities that help businesses reimagine their operations and accelerate their business scalability.

    Also Read: Strategies to Build an Efficient MarTech Stack Roadmap

    Evaluate the capabilities of the current MarTech stack

    The modern marketing technology stack has multiple tools integrated together that enable them to accomplish their daily operations. It is crucial for the marketing teams to understand the capabilities of their current tools to determine what possible returns that tool could offer to set the right ROI expectations. Additionally, CMOs should consider making data-driven strategic changes in their marketing operations to increase the ROI of the MarTech stack.

    Marketing teams can also ensure that there is a seamless integration between all the tools to accomplish the business goals and deliver ROI.

    Marketing leaders need to define their goals and strategy and audit all the tools that enable them to spot the underutilized systems and the possible opportunities that can be leveraged to accomplish the business goals.

    Explore, analyze and implement the right marketing tools

    Before integrating the expensive MarTech tools in their tech stack, organizations need to analyze the features and capabilities these tools offer and to ascertain features are required to accomplish the business goals. It is crucial to spot all the challenges that the organizations need to overcome with the MarTech stack. They should consider exploring, evaluating, and integrating advanced marketing tools that offer them multiple capabilities in one tool, to reduce expenditure to deploy and manage the applications in the MarTech stack.

    Also Read: Foundations of a Robust MarTech Stack

    Align the entire RevOps

    Even though the pre-sales, sales, and after-sales teams have different tasks to accomplish, finally, they all are working on one goal, which is to optimize the operations and enhance the overall customer experience. It is crucial to align all the teams in the RevOps and enhance their cross-functional capabilities to improve the ROI of the MarTech stack.

    Create cohesion between marketing technologies and operations to extend capabilities
    Many marketing technology brands expand their technology capabilities by offering complementary tools and developing features that help the clients’ brands grow. A perfect amalgamation between tools and workflows will enable enterprises to gain better digital intelligence in this competitive age. CMOs that are looking to improve the ROI of their MarTech Stack should integrate advanced tools like analytics, business intelligence, data science, mobile marketing platforms, and digital asset management.

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