Realizing ROMI Part 4: 5 Tips to Get More from Your Martech Investments
July 31, 2018
Today’s marketers face an unprecedented challenge sorting through the slew of new technologies available to them. From AI and automation to big data and machine learning, the sheer volume of systems and tools can dizzy the most seasoned marketing vets. However, once you’ve established the value of martech, identified the right technologies for your business, and made a plan for implementation, you should begin thinking about how to best align your people, resources, and processes to get the absolute best return on your marketing investments (ROMI). In the final installment of our 4-part “Realizing ROMI” series, we provide 5 tips on doing just that.
ROMI Tip #1: Make a Plan for Adoption and Change Management.
After you’ve put together your marketing technology stack, you’ll want to strike the right balance between necessity and functionality. After all, a piece of marketing technology is only as valuable as it is useful. Therefore, one important aspect of leveraging your martech investments lies in adoption and change management. Make sure you have buy-in from the people who will need to use the technology. And have a plan and the processes in place to onboard and train them adequately post-integration.
ROMI tip #2: Encourage Collaboration Between Team Members.
Getting the most out of your martech stack often means striking the right balance between your technology and your people. Necessary skillsets may overlap or exist in more than one place. You might have an IT professional, for example, who can understand the mechanics of integrating a piece of software inside and out, but who lacks the bird’s eye understanding of the tool’s strategic business imperatives. On the other side of the equation is the marketer who understands the value of a tool when it comes to sales or lead generation, but who has no clue how it will integrate or operate within the rest of the organizational enterprise. Use training and onboarding as an opportunity to bring together your experts, share knowledge, participate in product documentation, ask and answer questions, and to demonstrate the overall strategic vision for your marketing tech stack.
ROMI tip #3: Determine a Measurement Strategy.
Not all insights are created equal. Determine which data points matter most, then track them so you see what’s working. You can then make on-the-fly adjustments to the program elements that are not. The ability to access and then act on insights in real time is one of the things that makes marketing technology so incredibly effective if used correctly. Don’t fall asleep on putting together an effective measurement strategy.
ROMI tip#4: Focus on the Customer.
It may be tempting to let your marketing programs run on autopilot once your new technology is in place. However, to get the best ROMI, you must keep your customer at the center of your strategy, 24-7. That means knowing your customers better than your competitors do. Personalize your content, and make sure it’s relevant and valuable. Engage customers at the most useful touch points in the journey, and create customer-centric experiences in order to foster positive interactions with your brand or business. When you do all these things, you can almost guarantee customer loyalty—a true hallmark of effective marketing tech.
ROMI tip#5: Make Sure Your Marketing Technologies are Properly Integrated.
One of the biggest challenges with adding marketing technologies to your stack is proper integration. Without well-integrated tools, platforms, and software (i.e. “unconnected”), you may lose much of the functionality and cost savings that motivated the investment in the first place. Though there may be more upfront costs associated with a well-integrated, interconnected stack, it will deliver a much more substantial long-term ROMI.
The upshot? A willingness to learn, adapt and work cooperatively—both with your team and with experts on the outside—will give you an advantage when it comes to getting the most out of your marketing technology. For more insights into martech enablement and digital transformation, check out our 9-part series on the topic.
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