How's the "Mar" in your #MarTech?
We just completed some great research at The Account Based Marketing Consortium. Our key insight drew focus on the marketing activities that determine varied levels of success, range of measurable revenue traction. Underlying this range, it was apparent that the lowest levels of marketing maturity directly paralleled the lowest levels of measurable revenue traction. The general persona of these lower tier programs was that they viewed the technology as the objective, not the marketing. Deployment of technology became the indicator of success, a check box approach.
Our research indicates that this isn’t a trivial issue, approximately 82% of survey respondents struggled with a lack of marketing consideration in their marketing technology deployments.
Perhaps this is an artifact of the idea that ABM is a relatively new strategy. Maybe this is endemic of B2B marketing practices. Maybe.
Stretching outside of this one example, I belong to several CMO and marketing advisory groups and heard several peers deliver case study on their “marketing stack” at a recent event. Only one of them started the conversation by describing their target audience and engagement strategy. One of five, this closely parallels the learning in our research.
Arguably, there is tremendous momentum for marketers to assume a lead seat at the technology table. I believe that revenue performance technologies require a business mindset; however, is it possible that many marketing leaders have also lost track of the value of their business experience while using the tools? Has the organizational pendulum swung too far? From a business case at the point of purchase, to the optimization of messages and campaigns, marketers are uniquely suited to provide the guidance that can affect the difference between success and failure. Yet, as our research points out, a non-trivial portion of marketing organizations are not focused on or are not equipped to manage the processes of marketing strategy, content creation, media planning, and measurement. Marketing technology is a competitive weapon. One that can just as aptly be aimed at your business as it can be aimed at a competitor. Marketing savvy can make that difference.
I would love to hear your impression and experience… is marketing a priority in your marketing technology practice?
Writer and justice advocate
8 年Machines don't market to people, people do.
Catalyzing change in customer experience as thought leadership director at Genesys
8 年Mark, I've been covering marketing, service, sales, and CRM technologies for nearly 30 years and there are still too many business-side practitioners looking to implement the shiny object technology before they full develop the strategy it will support (so, ABM certainly isn't experiencing anything new). Sure, you need the agility to evolve your strategy as you develop expertise with a technology, but strategy first. Please. It's the only way to ensure long-term success (and ROI).
Strategic Marketing Leader I Designer I Product Portfolio Innovator Brand & Growth Accelerator I Communicator & Trusted Adviser
8 年Thanks for posting both of these Mark Ogne - hope all is well!
Founder, CEO @ Symplexity.AI, ABM Consortium | B2B AI innovator | Fractional CMO | High-Performance Account-Based Strategy | I Help B2B Companies Find Their 2X Revenue Growth
8 年Just read a great article on Direct Marketing News that nails this topic through the eyes of 15 executives. https://www.dmnews.com/marketing-strategy/what-should-marketers-do-differently-in-2016/article/466183/ Pete Gracey, CEO and Cofounder, QuotaFactory - "In our office we call this WTF: wasted technology funds. WTF is an organizational disorder where companies fall in love and purchase everything shiny and new because they just “have to have it.” In 2016 we're going to see marketing teams come to terms with their own WTF and put some measures into place to avoid it. Here are two questions to ask yourself before you sign on that dotted line." Scott Vaughan, CMO, Integrate - "Part of being strategic with marketing investments—especially technology—means going back to basics and measuring value. This includes focusing on business-driving initiatives such as customer experience and relevant, differentiating communications, and putting all that data to work. Then look for the difference-making strategy or technology to drive these core initiatives. Enough of rolling out new marketing or tech stuff simply to accumulate trophies." Thank you Ginger Conlon!
--
8 年Mark Ogne I do believe an ABM process does bring Sales and Marketing closer toward a common goal and can reduce the friction of Sales v. Marketing. However, while I also think there needs to be an ABM consideration from every Marketing department, every situation will be different. If you can identify your world/scope of prospects, then it's critical. If you are exploring new segments, it's a part of the mix.