Here’s what we know: 1) Martech solutions in the market today continue to proliferate. 2) Marketing spend on these solutions is also on the rise. But according to Gartner, marketing departments are only using a scant 33 percent of their martech capabilities. Why is it that martech utilization is at an all-time low?
As overall IT budgets get squeezed, and CMOs are asked to do more with less, there’s no denying that utilization must improve. The real question is how? To answer that, we must first look at the root causes of underutilization. This blog explores several key issues and actions you can take to tap into the full potential of your martech stack.
siloed martech stacks.
Integration issues or siloed systems exist because of the sheer number of different martech solutions available and the use of multiple tools at once. It’s rare that a marketing department uses just one solution, so when new tools are added, complexity increases exponentially as you seek to integrate them all.
Truthfully, these tools are complex in and of themselves. And many aren’t easily adaptable. Combine these challenges with a shortage of time and resources, and some marketing departments may decide to forego integration altogether. This, of course, leads to fragmented systems, siloed information, and an unreliable view of the customer. Not a good scenario if you’re looking to optimize marketing outcomes.
Marketing technology is complex. Finding tools that are right for your marketing objectives — and that play nice with the other tools at your disposal — can be challenging. Having the right talent on hand — or access to outside expertise — will also be critical to a timely and effective rollout and integration of new solutions with your existing tools.
process and tech discrepancies.
The impulse and desire to buy best-of-breed solutions is real. But these solutions are less than ideal if they don’t align with your marketing department’s existing processes. Your marketing staff must see value in the solutions they’re asked to use. They should understand and experience firsthand how the tools simplify and improve their marketing efforts. You can train your people on the tool, but if alignment is missing between the technology and your processes, it may not get used effectively.
On the flip side, market-leading tools come with best practices. And there should be some effort to optimize existing processes to make the best of what these tools have to offer.
Finding the right balance between these two scenarios is key. Yes, your tools should align with current processes, but processes might have to change somewhat to get full utilization of the tool. This is where change management becomes critical. A new martech ecosystem may bring new ways of working. And solid change management initiatives are your best bet if you want to effectively align processes and tools.
workforce shortages.
Martech professionals are in short supply. And those that are available come with a hefty price tag. This explains why some organizations rely on junior level staff, who may not have the right knowledge or expertise, to roll out new martech systems and use existing martech tools. An investment in qualified employees is a true investment in your business if you’re determined to maximize the full potential of your technology.
At the same time, management must also be fully on board and a key player in the enablement process — whether that’s initiating training programs to get workers up to speed on new capabilities, implementing change management initiatives to drive organization-wide buy-in and alignment, or providing access to critical support services required along the way. People are your most important resource. And creative options exist to help you find and train the people you need to succeed.
roadmap planning and follow up.
Perhaps not top-of-mind, but related to the issues mentioned above, is timing or roadmap concerns. When implementing new marketing technology, there’s a lot that requires alignment in the moment. Do you have buy-in from all stakeholders? Can your existing team effectively roll it out? Does the new martech integrate with the tools you already have, and can it be used to enable different marketing priorities? How do you know the technology won’t be outdated in six months? Does it include artificial intelligence (AI) and automation to improve key workflows?
With different people, processes, and objectives, it behooves marketing and technology organizations to do the intense planning necessary to ensure your chosen martech solution is right for you. Likewise, in planning for the future, make sure you have a system for measuring future progress. Martech is a journey — where continuous feedback and course correction are necessary. Establish and align data points with business KPIs. Only then will you know what’s working and what isn’t — and how you must evolve.
a focus on elevating marketing.
Before closing, here are three more things that we know:
- There's ample opportunity to improve your martech strategy, implementation, and resourcing.
- Prioritizing that opportunity can drive additional growth.
- Randstad Digital has tools and frameworks to help you achieve your goals more quickly.
Increased utilization of your stack is achievable with careful planning and assessment, the right tech stack, qualified talent, and tailored support. Randstad Digital and Cella, a Randstad Digital company, have both the technical and strategic expertise to optimize utilization on your terms.
Our Martech Services offering is designed to maximize the utilization and impact of your martech stack to drive efficiency, alignment, marketing outcomes, and, ultimately, revenue growth.