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Let us look at some of the key imperatives in the decision-making process.
Always start with the Strategy
Some of the key considerations are -
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What is the business objective?
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What is the operating model to achieve the objective?
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Who is the customer?
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What are the customer personas?
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What is the right way to communicate with each customer?
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What are the current gaps in being able to provide a seamless experience?
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How well is the current marketing strategy performing vis-à-vis these parameters?
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What is the expected business outcome after the MarTech implementation?
Leadership alignment
Make sure there is senior leadership alignment on the overall strategy. This includes the roles and responsibilities of each of the departments. All of this is possible only through the complete collaboration of CEO-CMO-CIO-CDO. For this, a culture of collaboration, joint ownership of KPIs and robust governance mechanisms have to be embedded in the operating model.
Assess current MarTech maturity
Assess the current MarTech maturity in terms of
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Customer Strategy
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Data Maturity
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Analytics Maturity
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Digital Maturity
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Campaign Maturity
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Technology Maturity
Evaluate the current MarTech stack
Some of the key considerations are -
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How is the usage of the various tools in the stack?
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Are there specific features required that are not available currently?
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Has the usage led to better connected customer experience?
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Can the current stack be easily integrated with other tools and platforms?
Align MarTech purchase to a mandate
While assessing a new tool, it is important to assess the following.
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Does the tool have the necessary functionalities?
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Are the functionalities present in any of the tools already available?
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What are the metrices on which the performance of the tool will be evaluated
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What are the expected benefits versus the cost?
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Which teams will be using the tool?
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Who is the primary owner for the tool?
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Is a tool training required? If yes, how will the training program be conducted and how much time will it take?
Budget
What is the available budget for carrying out the strategy?
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