WHY DATA IS KEY TO GETTING VALUE FROM YOUR MARTECH INVESTMENT
Many of us will have seen the MarTech 5000: a mass of colourful logos crammed into an increasingly crowded page depicting the modern marketing technology landscape. If you haven’t then take our word for it – there’s a lot.
No surprise then that many organisations opt for a simpler option. With suppliers like Salesforce and Adobe offering up one-size-fits-all solutions it’s much easier for a CMO, especially one from a non-technical background, to buy that, rather than try navigating the MarTech landscape alone. That usually means more cost, however.
So, you spent a load on MarTech and a year down the line you’re still wondering how best to get value out of it. What to do?
Technology is often seen as a panacea in the marketing world, but without data, it’s useless. You can have the best MarTech stack in the world, but if you don’t have the data to power it, all of that scaled personalisation you’ve been promising will be impossible.
TECHNOLOGY IS OFTEN SEEN AS A PANACEA
IN THE MARKETING WORLD
For example, if you wanted to run a personalised churn prevention campaign that tailored offers to individuals based on their prior purchases and lifetime value, you would need to have every customer’s individual transaction history and have done the appropriate analysis to identify their value and product preferences. You will also need an automation solution capable of deploying that campaign at scale.
The trick is to adopt a use case-led approach. Work out where the value is, pursue that objective, and measure the results. Crucially, see if you can do this with existing technology before splashing out on new kit.
Customer data and MarTech are fundamentally interlinked: to get tangible business value from one, you need the other.
To find out more, you can read our extensive discussion of the practical steps in generating value from data and technology at speed, by downloading a copy of our full report:
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