It’s a problem marketers know all too well: They’ve onboarded a million-dollar tech stack, but it’s currently underutilized and they’re faced with a CFO that’s tightening the purse strings. At the B2B Marketing Exchange East (#B2BMX East), Jeanne Hopkins, SVP of Growth & Strategy at revenue marketing consultancy The Pedowitz Group, will tackle this common B2B dilemma with a session titled, “How Your Martech Stack Holds You Back From Achieving Great Results.”
Throughout her presentation, Hopkins will discuss how to transform existing martech stacks from a budgetary burden into a powerhouse of efficiency with a focus on:
- Practical and free tools to audit tech stacks and compare to 1,400 similar companies;
- Action plans to consider how to move forward with owning the stack; and
- Actionable and creative solutions.
To learn more about her session and dive deeper into the world of martech efficiency, the Demand Gen Report team sat down with Hopkins for a deeper discussion.
Demand Gen Report: In your opinion, what are some of the latest trends or factors impacting the modern martech landscape today?
Jeanne Hopkins: There is an increased focus on first-party data and privacy compliance along with a growing importance of martech stack integration and interoperability. There are a lot of trends, many asks and little support in terms of budget or people.
In addition, with the rise of AI and machine learning for personalization and automation, an emphasis on omnichannel marketing and seamless customer experiences call for a complete integration of customer data platforms (CDPs).
DGR: Being that practitioners are working in a world oversaturated with marketing technology, what steps can they take to audit their tech stacks to determine what’s essential and what’s not?
Hopkins: First and foremost, do a complete map of current tools and their functions. Who owns what? When is the tool/platform up for renewal? Who pays for it? Who is the administrator?
Then, identify overlaps and gaps in functionality by gathering feedback from users across departments (it’s not just marketing!)
Finally, prioritize tools based on strategic alignment and performance and define clear business objectives for each with KPIs that are reported. No data = no ownership.
DGR: What are some of the factors that led to over-accumulation of technology?
Hopkins: I’d start with the siloed decision-making within organizations. Many times, the owner of technology sits with IT. And, with a lack of visibility or training, they are not able to properly vet the technology needs of sales, customer support, or marketing teams.
Throw on top of this a lack of long-term strategic planning AND insufficient evaluation of existing tools before new purchases, and the tendency to chase what is ‘shiny and new’ causes waste of time (which marketers do NOT have) and budget (again, ‘do more with less, please’).
DGR: What’s your biggest piece of advice for practitioners who want to onboard a new piece of technology?
Hopkins: Ensure alignment with overall marketing strategy AND clearly define goals and success metrics for the new tool. You also need to involve key stakeholders from the beginning of any new purchase and develop a comprehensive implementation and training plan. Consider starting with a pilot program or phased rollout.
Additionally, regularly assess adoption and gather user feedback. Consider a debrief discussion six months into the purchase and develop a document that assesses the value received from the technology.
DGR: Similarly, do you have any advice for those who want to eliminate a component of their tech stack?
Hopkins: You have to ask yourself, ‘How would eliminating the component impact current workflows and integrations?’ In other words, what does that tool ‘touch’ in the stack?
Have a data migration and preservation plan to ensure a smooth transition to alternative tools or processes. Don’t kill something without having a backup and make sure there is solid, consistent communication to all affected teams about this modification of the tech stack.
Then, provide the necessary training (often overlooked) for any workflow changes, and monitor your performance metrics to validate the decision for the change.
To learn more about how your martech stack can you hold you back from achieving great results, make sure to register for #B2BMX East now and add Hopkins’ session to your agenda!
