Forbes predicted that five years into the future, CMOs would be spending more time with technology than their CIO counterparts….six years ago. That’s right! Back in 2012, data analysts from Gartner had the foresight to predict that the MarTech stack would become the major revenue-driver for businesses. How right they were! Your stack should come together to build the perfect marketing machine. But how can you be sure your stack is worth the time and money you’re spending? Rather than cogs in a clunky, expensive machine.
MarTech Advisor foresees several ways that the MarTech space will change in the upcoming year.
- Marketers Will Seek More Unified Ways to Spend Their Dollars
- Data Quality Will No Longer be Just a “Nice to Have”
- Attribution Will Continue to be a Moving Target
Positioning yourself for the coming year can be tedious, but your marketing technology is not something to be ignored. Here are three ways to stay ahead of the trends and ensure that your stack is ready for the new year.
Uniform metrics to better understand your stack
Innovations in marketing technology have created this unique space within the tech industry where salesman, marketers, and tech experts are often one and the same. This can skew the metrics between all of your channels, making it nearly impossible to accurately track which methods are driving revenue and customer awareness, and which are simply taking up space in your stack. Maintaining standard criteria for lead scoring and conversion rates will help you keep your stack organized and efficient. Though tracking the customer through the buying journey can be difficult as your business scales its efforts, understanding that different activities have adverse and often untrackable effects can make the difference between a demand engine and a money sink.
Integration between components is crucial
In 2017 nearly half of all marketers implemented a multi-point solution for their marketing efforts. This means that the average marketing department looked to two or more channels to facilitate demand generation and outbound efforts. As you know, a MarTech stack is only as good as the sum of its parts, but it helps when those parts work together. Collaboration between all of the software and technology in your stack will make your life a whole lot easier and your usage smarter. Before purchasing and implementing new pieces, check to see if this piece can integrate with your CRM, it will be the difference between a streamlined conversion process and an angry sales ops manager.
Clean your data before it enters the stack
2.5 Quintillion bytes of data are created each day, and this rate is only going to accelerate. From search engine queries to social media analytics and much much more, new data is being added to your stack every second. With the efficiency, integrity, and ability of your stack relying on the quality of your data, you can’t afford to have anything but the best. An investment in your data quality is an investment in the effectiveness of your stack. Tackling your data quality issues at the source is the key to combating this bad information before gets fed into your stack.
Data quality is no longer an option. Whether your leads come from web-form submissions, social media, SEO, or trade shows, RingLead DMS can solve even your most severe data issues. Clean, enrich, and protect your data to avoid suffering from the mal-effects of bad data on your stack.