In order to make the most of your marketing initiatives, you must have proper knowledge of how your Martech stack works. Here, we will discuss how we can effectively manage our Martech stack to drive greater business value.
The Shiny Object Syndrome
Today, the internet is flooded with thousands of marketing tools for different purposes. Therefore, it is evident that your team might want to explore a new tool for improving their work process. However, is that specific tool truly necessary? Although it is practically impossible to stop the shiny object syndrome, you can make efforts to minimize it. Following are the top three genres of shiny tools you must be careful about:
Event Management tools
There is a massive collection of online event management tools, from registration portals to scanner software. Ensure that these tools bring value to your system and aren’t just there because they are trendy.
Meetings and Calendar Tools
The probability of finding a shiny object is very high in this tool category. A company must constantly guide its sales teams to ensure this doesn’t happen.
Project Management Tools
If you are a small business organization without a project management office in place, you might quickly end up with a couple of these tools for your marketing initiatives.
3 Steps to Reduce the Impact of Weirdly Performing Apps
Following are three steps in which you can minimize the impact of poorly performing apps in your Martech stack:
Map your Martech Stack
The first step is to plot your Martech stack. In order to do this, you may want to review your marketing and sales processes in order to find new requirements and fix your stack before it becomes outdated. In order to have a detailed analysis, you will need an architecture involving all systems. Tools like Giphy, MS Visio, etc., may help you build these maps.
You can then create different Martech maps to guide your teams in various situations.
Search for solutions instead of vendors
Looking for solutions will save you from getting sold by tool vendors. Before making a purchase, check whether a tool is solving a real problem or not.
Ask open-minded questions to vendors and whiteboard everything. Some questions include:
- What is an ideal process from your perspective?
- How exactly will this tool enhance my process?
- Can I know in detail about it?
- How will this tool change my methods in a few months?
Managing your Request for Proposal (RFP)
Once you are fully convinced that the tool will be helpful for your organization, it is time to work out your process. After you are done talking with the vendor, find answers to your who’s and how’s from the marketplace.
Understand the ROI well. Interact with the legal team to understand how your organization’s procurement system will work. After this is done, take the proposal to the executive team for approval.
To sum up, managing your Martech stack well means avoiding unnecessary tools, planning your stack carefully, looking for practical solutions instead of falling for marketing tricks, and handling the buying process step by step. These actions help you get the most out of your marketing tech, connecting it with your business goals and keeping you successful in the ever-changing marketing world.
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