Top 3 Proven Practices to Prevent MarTech Plans from Failing

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CMOs often fall into the trap of a false belief that new technology or new software can address their marketing challenges. However, these new software or technology more often than fail to address issues in the long-run. The solution? Regulations that support a successful MarTech plan can save businesses in the long run.

Businesses hoping to improve marketing efforts, lead generation, data management and more, often, fall into false MarTech claims that promise to produce and prioritize new lead generation and acquisition. However, CMOs often find that the existing plan does not work well with the tools used. This is one such instance of how a lack of proper planning leads to the marketing technology failing businesses.

So, why isn’t MarTech plans working for businesses? Or the causes that contribute to unsuccessful MarTech implementations:

  1. Outdated automation
  2. Clinging into metrics that don’t match the business
  3. Marketing goals are not aligned with business goals
  4. Marketing technologies are not adapted to rapid changes

Overlooking these successful upfront marketing attributes and work processes leads to Martech’s failure, which results in low ROI.

As per the “Gartner Marketing Technology Survey 2020,” 35% of marketing technology leaders are initiating MarTech processes wherever necessary.

Top Practices to Bring the Best in Class MarTech Plans

This is where businesses now need to focus—creating an impactful MarTech plan without failure. Here are a few practices that businesses can follow for achieving business growth.

Also Read: What should CMOS Consider Increasing MarTech Budget in 2023?

Know the Weak Area of Marketing

Oftentimes, it’s a lack of management that leads to low ROI. Implementing conventional marketing methods in data mining, leads acquisition, analytics, email marketing, and campaign distribution can be some weak areas that marketing leaders need to focus on. Practicing conventional methods continue to fail MarTech plans.

This means keeping track of weak marketing areas that need to be addressed for a solution is a must for a successful MarTech plan that’s result oriented.

Support Advancement in MarTech

Marketing leaders must support the advancements in the marketing technology landscape.

Because when support is resilient, changes are automatically implemented, it results in successful MarTech planning around business goals.

Advancement in marketing processes, metrics, alignments, analytics, automation, and other areas add value to having the right MarTech in place. Otherwise, every marketing effort remains inefficient and ineffective as before. Another significant area to support advancement in MarTech is having the bandwidth of internal resources for the implementation of new MarTech. These proven methodologies can accelerate the successful achievement of business goals.

Also Read: The Evolving Role of the CMO in the Boardroom

Adopt a Top-Down Method

Creating a top-down MarTech stack embroils a three-step context called three Ds that are indicated as deconstructing the customer journey, decomposing marketing strategy into tactics, and designing the MarTech stack.

  • Deconstruct: In this phase, customer journey is divided into three major phases, from the initial customer contact to post-marketing activities. For each of these phases, marketing leaders must define the desired metrics for accessing it. This ensures awareness and insights into customer behavior.
  • Decompose: Next, they must look at customer outcomes and divide strategies accordingly. This practice will include automation to scale up MarTech. An exact automation process of all customer outcomes enhances the MarTech stacks leading to a successful plan for the quarter.
  • Design: Once the core strategies are on track, it’s time to decide on MarTech tools for marketing purposes. This is known as MarTech Matrix. It helps mapping tools that support the functioning of technology required for a specific campaign.

Bringing everything together

Besides deciding the tools for the MarTech stacks, CMOs must build an internal case study to create goal-oriented MarTech plans and strategies. Because in 2023, it is essential to have a goal-oriented marketing technology in place, as the demand for efficient marketing efforts by customers increasing. Also, it would help create long-term marketing plans that depend on the existing decision parameters

Anushree Bhattacharya
Anushree Bhattacharyahttps://talkmartech.com/
Anushree Bhattacharya is a Senior Editor with Ondot Media, where she covers stories on B2B business technology strategies and corporate technology culture. She is a quality-oriented professional writer with eight years of experience. She has been curating content for the B2B industry, and her writing style is inclined toward how businesses want to perceive information about emerging digital transformations and technology developments in the markketing landscape. Anushree blends the best information on trending marketing technology-driven stories and is proficient in curating information-driven stories about all marketing technology for TalkMarTech publication.

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