Marketing Tech Needs Alignment To Business Objectives
https://peth.me/blog/2021/07/martech-business-alignment/
Working in media over the past 5 and a half years I have seen many company’s investing in marketing technology. Indeed investment in marketing technology is significant.
Martech is a $122 billion industry that’s growing by 22% year over year; 70% of CMOs are increasing their investments in it.
The investment I have seen has often existed in silos from the rest of the business or based on the tools that were available at the time, not necessarily the businesses objectives or a long term approach. Attracted by the shiny object I have seen marketers fail to define and evaluate the success of the marketing technology, which is characteristic of a bottom-up approach.
Bottom-up approaches often result in tools and data that are misaligned with the business objective or unable to provide relevant insights.
In a recent Harvard Business Review article they explore the importance of aligning marking technology investment to business strategy and moving from a bottom-up to a top-down approach. While there will always be new shiny tools available, it is clear that fewer well-coordinated systems have a greater potential to drive sales up and costs down.
The HBR article by Carl Mela & Brian Cooper is well worth a read for anyone that looks at marketing tech systems.
© 2011-2021 Sam Petherbridge