Modern enterprises will not be able to sustain sales or marketing, or perform without the best marketing technologies in their tech stack.
It is crucial for businesses to have the right tools in their MarTech stack to streamline their presales operations and improve their efficiency. Without the right marketing tools, presales teams will not be able to get a competitive edge. According to a recent article published by Statista titled “Marketing technology – statistics & facts,” the global MarTech stack value was valued at USD 345 billion in 2021. CMOs need to ensure that they have the best marketing tools, technologies, and applications integrated to make the most of their operations.
Here are a few essential technologies that CMOs can consider integrating into their MarTech stack:
Data Management
The marketplace today has become very complex and competitive, which has made it challenging for businesses to get a competitive edge. A few successful marketers have embraced data-driven marketing strategies to enhance their operations. Every organization, irrespective of its size, type, or industry, generates a large amount of data that has a tremendous amount of valuable insights that can enhance the entire customer journey. In order to make the most out of data, businesses need the right data management tools in their MarTech stack to gain valuable customer insights. Enterprises that have effective data management tools in their MarTech stack integrated will have successful presales operations.
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Product management
One of the essential information that businesses need to have in real-time is their inventory and its placement to help the presales teams to make strategic decisions. It is crucial for businesses to implement tools in their MarTech stack that offer them a real-time inventory of products across all business locations. Businesses that take this approach will be able to move the stocks as per the demand to reduce the shelf life of the products and create unnecessary wastage.
Product management tools are essential tools in the MarTech stack because presales teams play a crucial role in maintaining a perfect balance between demand and supply.
Finance and Budgeting
Many CMOs find it challenging to optimize their MarTech spent, resulting in a waste of time, effort, and money. Businesses need to have effective finance and budget management tools to optimize their entire expenditure to make the most of their investments. There are various financial and budgeting tools available in the marketplace that CMOs can leverage to make accurate data-driven financial decisions to improve their overall marketing expense. The best marketing finance and budgeting tools will help businesses to increase their ROI and accomplish their presales goals. Marketing teams often pay various vendors, freelancers, and other creative professionals. Hence while selecting the right tool, it is crucial to check if it fulfills all the business goals or not.
A cloud based Customer Relationship Management (CRM) Software
As the marketing landscape continues to become more complex, businesses need to have effective customer journeys to enrich their customer experience. Many businesses do not have centralized Revenue Operations (RevOps) teams that unify the entire customer journey. Businesses with different teams misaligned teams will not be able to achieve the desired business goals. It is crucial for enterprises to centralize the data of the entire presales, sales, and aftersales solution to get a holistic view of their customers. Implementing a cloud-based CRM software into the MarTech stack will enable businesses to centralize their customer data and offer the customer a top-notch customer experience. Hence one of the essential tools that every business should have in its MarTech stack is customer relationship management software.
These are a few essential tools that CMOs can consider integrating into their marketing technology stack to improve the overall efficiency of their operations.
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