Growth Framework

Simplify MarTech

Tuesday, August 28, 2018

CMO Growth Framework : Sprint 4

Most tech companies spend 20% of their annual budgets on marketing technology (MarTech) which includes email service providers, landing page generators, A/B testing tools, CRM, analytics, attribution tracking, marketing automation, social media calendaring, SEO tools, brand analytics, ad servers, onboarding apps, referral software, and customer data platforms. Many of these technologies are redundant and add unnecessary complexity to workflows and data consolidation.

1. Map your stack

I'll interview all departments and determine which MarTech tools are being used and for what purpose. I'll also identify the critical data coming from each tool.

2. Review business cases

Next I need to review and understand the business case for each tool and vendor. I'll ask each department to restate the business case for each MarTech tool. You'd be surprised how many tools are in place because of legacy decisions made by former executives.

3. Identify overlap and redundancy

Next, I'll identify overlap and redundancy between your current MarTech tools.

4. Reduce the stack

Provide recommendations for reducing the MarTech stack. An easy one here is using a marketing automation tool to replace your email service provider, landing page generator, and CRM. I'll work with your engineering and product teams to remove redundant tools from the stack. This includes redirecting data flows.

5. Implement a Customer Data Platform

After mapping and purging your MarTech stack, we'll look at a Customer Data Platform (CDP) to serve as a single source of truth for all customer interactions from the first click on a Google Ad, right through to the last credit card payment made. The right CDP can send valuable customer data and marketing KPIs to our marketing dashboard, as well as user insights such as login history to your customer success team.

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