The approach to integrate marketing technology determines its rate of success
It is a common belief that buying latest technologies can take businesses to the zenith of success. It also keeps the business competitive in the space. These are the chief reasons why legions of B2B marketers are buying ample of technologies to scale their business. However, merely acquiring latest technologies will not garner success but investing smartly is the real key. You need to follow the right approach to integrate the technologies in your business.
You need to be a smart technology investor rather than a buyer. As an investor, you need to gauge ROI, employ a well-defined tech cycle, manage the technologies, review the health of tech portfolio, develop an adoption plan and emphasize on those tech investments that yield a competitive edge.
Here are three powerful strategies that you should follow:
1. Define a process for procuring and utilizing technologies
You need to devise a disciplined plan to manage the overall technology cycle from buying to its utilization. The requisites of the process are:
- Hiring tech experts who’ll manage the tech cycle
- A blueprint to understand the existing and expected martech portfolio
- Formation of an investment council that includes stakeholders who can provide guidance related to investment
- A business case to assess and gauge the value of investment and ROI
- A well-planned procurement process
2. Have an implementation and adoption plan
Apart from an implementation plan, an adoption plan is also essential as it helps in making the most out of the available resources and technology. You should ensure that you are using the right mix of talent, resources and technology that makes the investment to reap profits.
3. Review the health of your martech portfolio regularly
The marketing team should periodically review the health of the martech portfolio to gauge its performance with respect to the set standards. This helps in removing the underperforming tools and emphasize on new purchases. You need to find how well the new technology suited your marketing infrastructure.