As industries mature, companies buy or price out their competitors, and the industry becomes much simpler. For example, in the early 1890’s there were over 6,000 phone carriers, today the phone industry is much simpler.
This same “simplifying” will happen in the marketing technology space. And it will be driven by marketers like you.
Soon, marketing stacks will be too unwieldy to manage and marketers will shift from building to tearing it down.
Simplifying will become the new black. And being able to choose which tools and technologies to save or kill will become an important skill.
In this post we’ll discuss how you can develop the skills needed to compare the value of different marketing technologies.
We’ll discuss how you can approach marketing operations in a systematic way, and identify opportunities to run marketing departments withouttechnology layouts that look like nuclear reactor schematics.
Why Evaluating Your Martech Is So Important
It’s the marketer’s job to define the technology requirements and investigate whether tools and solutions meet their organization’s needs. And the perceived technology need is fueling the growth of the marketing technology industry.
While part of the demand for marketing technology is driven by vendors themselves, you the marketer still shape the industry.
It’s the marketer who defines her own technology requirements, and the ability to do so in a systematic and decisive way brings many benefits.
No one ever got credit for using a technology, they got credit for finding and building greats one, and removing bad ones.
The architect gets the credit, not the bricklayer.
So let’s talk about how to determine which of your Martech is “required” and which one is inconsequential.
It’s all part of the skills for architecting the ultimate marketing machine.
The 6 Steps Of Marketing Technology Evaluation
How do you go about understanding whether your marketing technology is aligned with the overall business objectives?
Here’s where clear thinking on evaluation technique becomes helpful. In order to decide whether to save or kill your Martech, follow these steps:
First, establish the business case you care about most. It should fall into one of the following categories:
- Product demand
- Customer growth
- Reporting capability, i.e. knowledge management
After understanding what you care about, determine the technology that relates to the business case that is most important to you right now.
Next, define the objective of your evaluation. These fall into two categories, lesson learning and accountability. You either want to learn how a process works or you want to measure success in an objective (quantitative) way.
Next, choose the best evaluation technique, this might be judging how efficient a workflow process is via a process evaluation, or the value of a testing tool via a cost/benefit analysis.
Now the key here is to define a threshold that determines pass or fail. As a marketer and architect, there should be a very clear line that separates technology into two groups: required and not required.
The marketing evaluations you conduct guide marketing effectiveness as you uncover new opportunities to improve product demand, customer growth and reporting. It’s a ticket to getting things done in a systematic way, aligned with corporate goals.
We’ll be diving into more detail about how to best conduct marketing evaluations, describing examples, in an upcoming blog post. Stay tuned if you found this post helpful!