Technology has become a crucial element for both marketers and sales, but be aware, that not all that glitters is gold!
You need to acquire technology that fulfills the requirements of your business and adds value to it. It may sound like common sense, but many companies are unsuccessful in their digital transformation and only some efforts end up being successful.
The plethora of solutions available overwhelms many marketers, and it is getting harder to make decisions about what to use. So let us get back to the real aim of your marketing tools, which is to make the processes easier, analyze the effect of marketing activities, and increase cost-effectiveness and return on investment. A lean stack of marketing technology is necessary to support the marketing objectives, and looking for the right tools requires, first and foremost, a good internet connection.
So, unless your internet works seamlessly, you can consider shifting to a reliable Internet Service Provider (ISP) to avoid any future lags. Cox Internet is a leading ISP in the market that you can consider for your business. It offers a wide range of packages targeted toward a wide customer market, and that too at economical prices. This makes it an ideal option for start-ups for small-scale businesses but their high-speed internet ensures that you will not face any issues when implementing new marketing tech.
While the marketing tech stack will require a significant amount so investment, they also contain certain aspects that can help to increase the effectiveness and efficiency of the campaigns as well as revenue. We will explore some tips that can help you make the right choice, but first, let us start with the basics.
What is a marketing stack?
A company’s marketing technology stack is a set of tools that a marketing team uses to implement and expand its marketing strategies. It may include tools such as social media analytical tools, project management software, etc. As the power of marketing technology evolves and increases so frequently, marketers need to stay updated with what tools are available and how they can help them reach their business goals. Some popular types of marketing tech tools include SEO, social media, content marketing, advertising, and email marketing tools. But how do you choose “the one for you?” Here are a few tips to get you started.
1. Create a roadmap
Before you start evaluating options, set your objectives.
Then you can start looking for tools that will help you to accomplish them.
First, assess the problem and your current set of tools to see if you can achieve your goals with them. Also, ensure that you focus on security and privacy, especially when your customer information is involved.
Work with your team to design a plan for assimilating new applications with the ones on hand. Take out time to understand what each tool has to offer so you can compare apples to apples rather than making impulsive decisions based on costs or the like, which can have an antagonistic impact in the long run.
2. Match tools to goals
When choosing the right marketing technology for your business, you should also analyze your target market and existing customers. Find out how your customers came to know about you, their brand perception, and buying patterns.
Once you know how your customers are converted, you can start using this information to your benefit. You do this by choosing the relevant technology or tool to facilitate all aspects related to customer relationship management.
3. Identify the right metrics
Measurements can unnecessarily cloud your judgment.
Some software companies may even advertise access to certain metrics that seem attractive but are not effective for your business. Focus on metrics that show ROI and all metrics that give an accurate picture of customer value and satisfaction. If you can collect customer acquisition and experience data, you have the most important metrics that will help your business to grow.
When it comes to metrics, think about data availability. Make sure you can collect data from all your tools to get a complete picture of your customers and the impact of your marketing strategies on them. The tools should enable you to:
- Increase brand visibility
- Provide adequate information to potential customers
- Improve customer engagement
These are just some of the points you should consider when determining the right tool.
4. Analyze associated expenses
You should remain mindful of the fact that the quotation given by the service provider will not be an accurate representation of reality.
You must also include all integration, support, training, and upgrade costs. This will give you a clear idea of the ROI required for the tools to pay off. Training is an integral asset, even if the products you apply seem reliable enough. The more trained your team is, the faster they can deploy the system efficiently and productively, resulting in a higher ROI.
The crux of this information is that implementing tools for any business is difficult, but ensuring success requires a pre-planned process, comprehensive planning, and consistent communiqué. There are several tools out there that can support your marketing endeavors. However, it is important to remember that every business is unique and therefore requires specific features, which you should look out for in the tools you analyze.