Investments in marketing technology, including artificial intelligence, will continue. It is typically one of the largest budget items for CMOs. However, if there is inadequate leverage of these tools, insufficient management is to blame.
Here is how to overcome the underutilization of marketing technology and harness its true potential for the organization.
1. Avoid the shiny object syndrome
Without a doubt, marketing automation has been utilized effectively over the years. However, it is a tool organizations are replacing the most. This does not negate the usefulness of automation; rather, it indicates that marketers have a penchant for the newest martech gadget.
2. Prioritize organization strategy
Defining strategy must come first, followed by identifying the technology required to support the strategy. Understanding the customers is an excellent starting point. This will then determine the type of content teams must produce and the channels they must employ to generate engagement.
3. Evaluate and improve technology
It is important to continuously evaluate the technology against the defined strategy and optimize it.
Depending on the organization’s size, this should be one of the marketing operations‘ responsibilities. If firms still need to get this role within the organization, they should seek out a partner who can assist.
4. Invest in training.
For all the money spent on marketing technology, it is prudent to ensure its users receive the necessary training to maximize its effectiveness. If brands want to maximize the use of marketing technology, they must invest in training for those who will administer the tools so that they are equipped and able to optimize its use.
Also Read: Effective MarTech Trends for CMOs- till 2025
Keeping things as they are today does not demonstrate the value that marketing can bring to an organization. It is time for marketers to learn how to use technology most effectively to enable a growth strategy and serve as a revenue generator for their organizations.