‘Martech’ is still an unknown concept for many
There are 4 key areas to take your digitalisation to the next level.
Wiraya and Odyssey, suppliers in Martech have interviewed market leaders about four key areas of Marketing Tech to investigate their digital maturity in strategy, organisation/processes, data/analysis, and system support.
How do marketing managers work with technology & system support?
According to studies from Boston Consulting Group, within marketing and sales, a clear digital transformation strategy creates the greatest and fastest impact on corporate results.
Most companies lack a real technology strategy and very few respondents talked about tech stacks. Marketing departments rather buy in what they need to be able to digitise their customer interactions during the customer journey, often without the involvement of IT. This approach can be used to find out more about its customers and proactively create services and products, relevant customer dialogues and simplified self-service for the customer.
The purchase of technology and new systems does not completely solve the problems as many have experienced. To exchange technology systems requires changing processes, skills in managing tools, data analysis, content creation, new metrics; and above all, a clear customer-focused strategy.
In the interviews, there is a large disparity in how marketing departments experience the challenges surrounding Martech.
The larger companies are challenged by having existing systems with customer data they need to access or integrate with in order to get the best return on investment. And even if you have strategically made a decision to gradually replace old systems with more modern, often cloud-based systems, it takes a long time. Start-up companies find it far easier to implement sophisticated Martech, but often do it without a clear strategy. They just get what they need in the moment.
Recommendations:
– Start with a smaller pilot and test the technology in practice, preferably in a process that goes through several departments. Also, dare to fail. Follow the results and see if it improves customer experience. Then scale up!
– Buying technology requires someone to handle it effectively, both in terms of configuration but also in analysis, segmentation and reporting.
Make sure your tools have open API’s so you can easily pull and push data between your systems. It also makes it much easier to analyze.
1. Strategy – An enabler och disabler?
2. Organisation and processes – Focus on the customer journey
3. Data and analysis – Analysts are the market leaders most sought after colleague…
