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It's Time To Cut Back on Martech Bloat - CMSwire

It's Time To Cut Back on Martech Bloat - CMSwire | The Marteq Alert | Scoop.it
As enterprises grow, their martech stack grows with it, often to the point where it becomes a burden to effectively use the various components and platforms. Consider that for two years Gartner has reported that marketers are only making use of 58% of their martech stack. This article will look at the ways a brand can unify and streamline its martech stack to make it effective and efficient once again.

While each brand will have specific objectives that require technology designed with those objectives in mind, there are some core components that are typically part of every brand’s martech stack.

Digital Asset Management (DAM)
Email and Marketing Automation
Customer Relationship Management (CRM)
Customer Data Platform (CDP)
Analytics Tools
Lead Management
Enterprise Content Management (ECM) Platforms
Social Media Management
CYDigital/marteq.ios insight:

We see the biggest problem with "bloat" is redundant functionality" quite often marketers have multiple apps who have some of the same features. Identifying the culprits is the first step to bloat reduction.

 

marteq.io is preparing a FREE pilot program for its Marteq application. Contact joe@marteq.io for more information and to see if you qualify. #martech #marketing

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How Much Does Martech Stack Utilization Matter? - CMSwire

How Much Does Martech Stack Utilization Matter? - CMSwire | The Marteq Alert | Scoop.it
Gartner reported last year — and again in the same, updated report this year — that only marketers only use 58% of their martech stack’s full breadth of capabilities because they have trouble with cross-functional collaboration, deal with a “sprawling array” of martech solutions and lack a solid customer data foundation. The research firm reported in these findings in last month’s 2020 Marketing Technology Survey. We also covered last year's report.

How can marketers keep up with the technology innovations? The 58% martech utilization number may suggest, Bloom added, that marketing technology teams responsible for shepherding processes around these tools may need some organizational change — perhaps defaulting to a more agile process where they invest on short martech wins in an unpredictable environment. Marketers face more budget cuts (60% expect moderate to severe cuts to their martech budgets, according to Gartner) and must contend with the disruptive economic and government-level policy changes due to the COVID-19 pandemic.

“From a marketing technology standpoint,” Bloom said, “if you can take more of an agile approach that says, ‘Hey, let's do a proof of concept and figure out if it works for this use case, and if it does, let’s expand to another one. Let's learn from those cycles over time.’ And then those kinds of process-driven improvements actually can create a lot more insight that you can use right now, as opposed to thinking, ‘I've got to wait forever to see what this test is gonna pay off.’”
CYDigital/marteq.ios insight:

Look, we have a new martech application coming to market, and we know our prospective customers are overworked with little time. So our approach: let us run the test for you, providing you with complete look-in capabilities. It's going to work well: we're going to make sure of that (if not, it didn't cost any time or effort). Our approach is in alignment with this article: create a proof of concept for you in an agile fashion, delivering results and a playbook for future reference.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Marketing trends wake up call - future-proofing your stack - Diginomica

Marketing trends wake up call - future-proofing your stack - Diginomica | The Marteq Alert | Scoop.it

Tony Byrne, founder of Real Story Group focused on the need for an omnichannel stack that will support you through the 2020s (and hopefully longer), and discussed four key themes, including acceleration, flexibility, efficiency, and humanity:

  • Time is of the essence because things are moving so fast: It should not be about getting the best tools, but about getting the right tools. 
  • The need for flexibility - especially within teams: working towards tiger teams, where collaboration amongst a group of specialists working together to solve a problem is critical. 
  • The third theme focuses on efficiency: there are stack redundancy challenges, and marketing attribution is another problem, but Byrne pointed out it's less of a technology problem than a data problem. 
  • The need to remember our humanity: we need to connect with customers as human beings, Byrne said. We need to flatten internal hierarchies and work together. But to do that, you need the right marketing and CX ops platforms. 
CYDigital/marteq.ios insight:

You can't future-proof the technology, but you can future-proof your processes.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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CDP vs. marketing automation: What's the difference? - TechTarget

CDP vs. marketing automation: What's the difference? - TechTarget | The Marteq Alert | Scoop.it
While many businesses use marketing automation systems, they may consider also incorporating CDPs to use personalization, organization and insight that marketers can act on much further. Here are a few of the key differences between CDPs and marketing automation systems.

CDPs pull together user data from all over, including the web, online channels, customer profiles and contact centers. Marketing automation software collects customer information from CRM systems.
Marketing automation platforms can link some channels -- such as email -- to drive targeted marketing campaigns. However, a CDP can deliver personalized experiences in real time and use data from many sources to recognize the customer and adjust the experience accordingly.
CDPs aim to provide actionable insights to marketers to fuel campaigns, while marketing automation systems aim to drive campaigns without generating insight for marketers.
CYDigital/marteq.ios insight:

Which consumes which, because you really shouldn't need two separate systems. Eventually MASs must have CDP capabilities, even if not as feature-rich as standalone CDP solutions.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Why Integration Is Trumping All Marketing Technology Requirements - CMSwire

Why Integration Is Trumping All Marketing Technology Requirements - CMSwire | The Marteq Alert | Scoop.it
In the CDP Institute report, marketers also reported that integration with external systems (53%) tops things like ease of learning and use (51%), breadth of features (40%), operating costs for fees and staffing (36%) and initial costs of acquisition and deployment (32%) when martech leaders were asked what their company generally considers most important when selecting marketing technology.

And as for integration with internal systems, it wasn’t even close: 66% of leaders cited that as most important, dominating all other answers.

Think about that: integration trumps price, ease of use and features. The industry has come a long way.
CYDigital/marteq.ios insight:

Significant findings. It's as if marketers are taking a step back and ensuring greater levels of success from current investments, which is completely prudent.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Navigating a Sea of Martech? 4 Tips For Charting Your Course in 2020 - MarTech Series

Navigating a Sea of Martech? 4 Tips For Charting Your Course in 2020 - MarTech Series | The Marteq Alert | Scoop.it
  1. Organize your team for success 
  2. Recognize technology that’s worth the cost: The important thing to remember though, is that no one type of technology will guarantee strong results. Before going all-in-one technology that might sound and look good, make an effort to understand the algorithms at play and how they provide tangible, incremental value to the marketing process.
  3. Know the data you’re using: To avoid the pitfalls associated with third party data, use your own data as much as possible. 
  4. Reduce the partners on plan: It’s important to understand the outcomes you’re trying to achieve, and then choose the right partner for those outcomes. You need someone who can deliver on the various tactics needed to achieve your goals, and can do so without math that involves windows and ratios. The 200-pound gorilla is not your only option. Choose wisely.
CYDigital/marteq.ios insight:

Note #3. The far better choice? Extended zero party data. Let's talk.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Martech stack documentation is vital, here are some tips to do it right - MarTech Today

Martech stack documentation is vital, here are some tips to do it right - MarTech Today | The Marteq Alert | Scoop.it
Regardless of the venue (internal or external), there’s some important high-level information to track.   Two very important pieces of information in this category include the overall purpose of the stack component as well as who are the main people associated with it (executive, sponsor, technical lead, and power users). This information alone is very valuable as it will help address why a company uses something and who to ask for more details.

Another thing valuable for external and internal audiences is information regarding system integrations.  Vendors in particular will likely need access to at least high-level information so that they can better align their efforts with where information from their system will flow to others. However, not every vendor needs such information, and an internal system is likely a better place for more detailed information that vendors don’t need access to.
CYDigital/marteq.ios insight:

This should be automatic!

 

Join the marteq.io white list to receive pre-launch benefits: https://un.marteq.io/wl1/ #martech #marketing

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Is ABM the new B2B marketing cloud? Martech faces off between platform and best-of-breed - Diginomica

Is ABM the new B2B marketing cloud? Martech faces off between platform and best-of-breed - Diginomica | The Marteq Alert | Scoop.it
Tim Kopp, CEO of ABM platform Terminus, said he's more convinced than ever that ABM is the new marketing platform of the future and that we need to stop thinking of this idea of a martech stack. "Integration is the new innovation," he said. All-in-one will trump best of breed.

From a web experience perspective, look at Acquia. It has pulled together all the pieces required to build the next generation web experience solution - the digital experience platform, at a time when everyone else is focusing on pieces of the puzzle. Todd Berkowitz, Practice Vice President, Gartner, states, "ABM programs have been shown to result in significant improvements in pipeline growth. If economic uncertainty continues, these programs should remain a core element of marketing strategy."

Kopp takes it further. He believes that we won't use the term ABM in a few years. Instead, ABM will become the new B2B marketing cloud with data as the hub. One thing B2B marketers are doing that is key to their success is creating a new data architecture that brings together all account-level data in one place. When brought together, the data from systems of engagement like email, advertising, chat, and all interactions can create a more informative data model.
CYDigital/marteq.ios insight:

Are we coming full circle on the all-in-one platform? With thousands and thousands of companies on the chiefmartec.com landscape, is enough enough?

 

Follow us on LinkedIn and qualify to use the Marteq platform at no charge! https://www.linkedin.com/company/marteq-io #martech #marketing

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