As many marketers deal with the challenges created by a troubled economy, increased efficiency is expected across the board — from personnel to technology. But how can marketers be more efficient with their data and operations?
“Technologies become obsolete so quickly these days,” said Allen Pogorzelski, VP of Marketing at Openprise, speaking at MarTech. “Businesses are not happy with attribution insights, not confident with the way leads get routed, and feel like they are not using data for revenue.”
Review your resources
Before buying anything new, review your stack and identify what is not working, then meet with your current martech vendors to get up-to-date with their current data capabilities.
“Data input is often the cause of inefficiencies in a martech stack,” said Pogorzelski.
Look closely at martech solutions that are fulfilling only one data function. Often, that tool can be replaced by another current tool in your stack that performs the same function.
While examining tools currently in your stack, know that less can be more when it comes to data and operations efficiency. Martech processes move faster with fewer moving parts, and data efficiency leads to less code and faster automation processes.
To ensure you are maximizing data efficiency, marketers should be able to identify at least two or three immediate projects being addressed by each tool in their stack. Be careful to closely scrutinize legacy tools in your stack, perhaps implemented by a former employee, currently have minimal or no use. The accumulation of these tools is a sure way to slow down data and significantly decrease operations efficiency.
“The solution is rarely to swap out one solution for a competitor’s technology because you rarely see incremental value there,” said Pogorzelski. Even so, “single add-ons to your stack add to technical debt that is hard to make up.”
Fragmented tools can cause silos
“Ask what data is not being captured at the point of entry,” said Pogorzelski. “Implement the right data processes so data is not siloed with fragmented tools. Then [data] can keep up with business needs.”
A more efficient data process means faster operations to create more customer engagements which lead to more conversions, a way for marketers to show their value to the company’s bottom line. And it all begins with the right martech stack for operations.