In today’s continuously changing MarTech landscape, most B2B marketing leaders make the mistake of deploying an excessive number of platforms with similar features and functions.
When selecting and deploying various types of MarTech platforms, B2B marketing leaders and their teams typically have a wide range of criteria to consider. It is becoming more difficult for B2B teams to ensure that they not only select the best MarTech platforms in place to drive ROI but that they also optimize the use of each of those platforms due to the constant launch of better marketing automation capabilities and features across a range of marketing-sales functions.
When it comes to marketing alignment and MarTech, lean MarTech systems that work well together and give users a consolidated or single source of truth can very well be used to promote optimization.
Consolidation in the MarTech Market
Over time, the MarTech ecosystem has expanded – it is clear from how swiftly providers are consolidating or integrating their features and offerings, and end-users are affecting how these systems are adopted and used.
For internal marketing operations to operate more seamlessly and make it easier for distributed teams to have instant and easy access to the right data at the right time, fewer systems that are assessed, monitored, and updated regularly will allow teams the insights they need on what is working and what is not.
The more MarTech is utilized within a marketing function, it becomes challenging to ensure that analytics from all of those platforms are not just accessed but also consistently shared throughout the hierarchy to tighten the reins on lower-performing marketing campaigns and efforts.
Most well-known platforms today provide easy integrations that let marketers access what they require without having to install or spend on additional MarTech. Here, tech-savvy marketers should have a greater say in the choice of MarTech and assist the rest of the marketing team in finding the appropriate integrations and solutions rather than solely focusing on purchasing another platform unless the platform is worthwhile.
Also Read: Artificial Intelligence (AI) Challenges in B2B Marketing
Making a MarTech Purchasing Decision
There will be too many MarTech systems and fragmented customer experiences if marketing and sales teams do not agree on processes, goals, and efforts.
Marketing and sales must align their data utilizing a single source of truth, such as a single CRM or CDP, to house all of their consumer behavioral insights and customer data to create compelling customer experiences. This makes it simpler for teams to tailor the reporting of these systems to pinpoint what marketing needs to do to support sales, what sales need to do to boost conversions, or where the gaps are between the two teams regarding consumer behaviors.
Cost Optimization
Marketers worldwide have financial constraints. To determine MarTech expenditures and calculate ROI, a separate marketing budget is often set aside. Here, many marketers err by failing to evaluate the effects and return on investment of each of their MarTech expenditures. Has any business growth been made possible by the platform or campaigns used on those platforms? Has it resulted in conversions? When the time comes, would investing in new platforms be more beneficial than renewing the current MarTech subscriptions? Marketing leaders must answer these questions to enable improved MarTech investments and cost optimization.
Maximizing MarTech with Lean Marketing
Maintaining lean marketing teams and MarTech platforms can increase overall ROI and support business initiatives during economic downturns. The business and the marketing team can achieve success with marketers who know how to accomplish more with less while reconsidering how their core marketing teams operate.
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