How do I make Marketing Technology decisions?

When I go to our customer meetings, or events, many attendees ask me “how do you select marketing technology?” This question was moot eight years ago because there was not much marketing technology then. Coincidentally, I was in a similar role six years ago, helping my healthcare customers choose inpatient and outpatient systems. 

Today with 5,381 marketing solutions (per chiefmartech.com), choosing any marketing technology has become a daunting task. What are CMOs most worried about? They are worried about changing customer expectations and driving growth. We all have targets to hit. 

In this mobile and social world, technology companies not only compete with other technology companies but also every other company providing customer service like AirBnb and Costco. So, the CMO challenge is to connect with customers across their devices and create campaigns that blend social media, events and paid advertising. 

My take on arriving at the right technology is in addition to looking for core scenarios, I framework my selection based on the following criteria:

 

• First, Customer Experience – the technology I choose must support consistent customer experience through all marketing channels. For example, when we look for an event platform, we not only look for registration experience and integration with sales automation system, but also a good real-time check in experience for our customers and can post and create demand on social channels. Given marketing technology is still maturing, It is difficult to find all these features in one seamless solution. However, we can stitch two solutions together to get what we need. 

• Second, Interoperability - I will look for a solution that fits into our current MarTech stack, for good customer experience and real-time marketing leads flow. The reasoning is very clear-every day that goes by that a qualified lead sits unattended, the deal goes nowhere, because the optimal time for lead conversion to opportunity is the first 3 days 

• Finally, the Ecosystem. Ecosystem of partners and vendors are critical for a MarTech solution to success. To stand up a MarTech solution quickly, I hire services directly from the MarTech vendor in the short term. But In the long run, I get innovation and guidance from technology partners and consultants. Now, how do I narrow down to a single marketing or sales solution in the next article.