Marketing technology management and the irresistible temptation to act like a hammer looking for a nail because that’s easy. If you thought the Marketing Technology Landscape is exploding and getting disrupted each day, adding to the chaos, Marketing Technology Management is an even bigger beast. That’s where you develop an art to apply these technologies and aspire to create connected, seamless consumer experiences.
While most will have their own strategies, frameworks and models to manage the world of marketing technologies, here are 10 steps/questions you may want to answer as part of creating “a” framework, that challenges you to solve business problems and consumer needs and not building technology stacks for the sake of building technology stacks, something I shared in my post on finding the human in the marketing technology ecosystem:
- Identify the business problem(s) that is preventing you from making money
- What is the consumer behavior that is creating that business problem?
- What data and technologies can I bring on to solve these business problems? You use these three steps first to identify your key investments areas and prioritization buckets
- Execute a channel focused marketing technology current state assessment which gives you a baseline understanding of where you are in terms of your marketing technology capabilities – in isolation of business needs and challenges, it’s important to know
- However, apply the identified gaps against business challenges and consumer needs to create a roadmap & plan instead of investing in mobile, social, data, analytics and so on
- Identify the right technology platforms, the tricky part because they all say they do it all
- Answer the question – should I build, rent or buy? My simple philosophy is you should build what you sell. If you re not in the business of selling technology, why build it? Use if from someone who is selling it for business J
- Does this live in isolation? Does it need to connect back with rest of the ecosystem? Remember, it’s all about the wiring. Alone these technologies are just tools, but when they are connected, it becomes a “system of engagement”
- Should it be globalized or can each market or region have it’s own capability? What is better? Standardization versus speed & agility?
- Finally, how do I measure the success, what are the KPIs? Am I able to solve that problem which was preventing me from making money? Is it changing that consumer behavior? If it’s not, then test something, learn from it and then optimize it, keep doing this cycle
There is only one fundamental principle to this whole process. The first and the last step, the process begins and ends with the question about the “business problem that is preventing you from making money and the consumer behavior and need that is driving that problem”.
If we build technologies that solve that, we will be relevant and we will have a seat at the table, otherwise, we will continue to be the “Hammer Looking for the Nail”.