Each day, technology makes more impact in more areas of our lives - marketing is no different. Marketing technology (MarTech) allows companies to better understand and talk with their customers. Furthermore, it enables new customer experiences that Marketers couldn’t have fathomed just few years ago. As much as technology is changing the world, it is also forcing leaders to change how they think about their businesses. With thousands of marketing technology solutions available, managers struggle to prioritize investments, build teams with the right skillsets, and find tools that are both bleeding-edge and stable.
Lenati, in partnership with Scott Brinker of chiefmartec.com, spoke with CMOs and VPs at both enterprise and high-growth firms—including Adobe, Microsoft, Hilton, SAP, VMTurbo and more—to understand how some of today’s leading marketing minds are making MarTech work for them. We’ve distilled select insights from these discussions and shared them here.
Download this presentation to learn how leading Marketing Executives:
• Take strategic approaches to investment decisions
• Build MarTech stacks that allow them to innovate and scale while maintaining reliability
• Drive smooth implementations that result in widespread adoption
• Build teams that balance technical proficiency with business acumen
• Stay up-to-date on the most innovate tools in the market
Note: This presentation is a compilation of research conducted by Lenati.com and Chiefmartec.com. For more detailed research findings, download “Marketing Technology as a Strategic Asset" at www.lenati.com/martechstrategy
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Marketing Technology (MarTech): A Strategic Approach to Drive Business Value
1. MARKETING TECHNOLOGY
lenati.com | lenati.com/blog | @lenati | info@lenati.com
A Strategic Approach to Driving Business Value
LENATI
2412 7th Avenue West #101
Seattle, WA 98119
info@Lenati.com
In partnership with
Scott Brinker, chiefmartec.com
2. COMPANIES NOW SPEND MORE ON
MARKETING TECHNOLOGY (MARTECH) THAN
ON ADVERTISING.
2
Source: chiefmartec.com
3. 96% OF B2B MARKETING EXECUTIVES
BELIEVE THAT THE PACE OF CHANGE IN
MARTECH WILL KEEP ACCELERATING.
3
Source: toprightpartners.com
4. 4
Lenati and chiefmartec.com spoke with leading senior marketing executives across industries and at different growth
stages to understand how they take a strategic approach to marketing technology. Select learnings from these interviews are
shared in this presentation.
FEATURED CONTRIBUTORS
5. KEY THEMES
5
Four steps help lay a foundation to get the most from marketing technology:
1. THINK BIGGER 2. PLAN YOUR
APPROACH
3. GET YOUR
TEAM READY
4. STAY ONE
STEP AHEAD
6. 6
1. THINK BIGGER
2. PLAN YOUR
APPROACH
3. GET YOUR
TEAM READY
4. STAY ONE
STEP AHEAD
8. WE WERE HEAVILY FOCUSED ON
OPERATIONAL KPIs IN THE PAST. GOING
FORWARD AS OUR STACK MATURES, THE
DOMINANT CONSIDERATION FOR NEW
TOOLS IS: DOES THIS IMPROVE THE
CUSTOMER EXPERIENCE?
8
Jenn Chick, VP of Marketing, Hilton
“
9. LOOK AT YOUR MARTECH STACK HOLISTICALLY.
9
Make MarTech part of your strategy by taking an end-to-end look at
how it influences, and is influenced by, your business. Consider:
Organizational Goals
How does MarTech support higher-
level company goals, like creating
more personalized sales
relationships?
Team Agility
What is the appetite for change? How
long and rigorous is the decision-
making process?
Customer Experience
How will your customers be
impacted? Will they be receptive to
change?
11. WE CONTINUOUSLY REVIEW OUR MARTECH
STACK AND REMOVE ELEMENTS THAT DO
NOT WORK OR SCALE.
11
Rishi Dave, CMO, Dun & Bradstreet
“
12. PLAN SIMULTANEOUSLY FOR STABILITY AND
INNOVATION.
12
You can achieve both by viewing your MarTech stack as a portfolio of
core components and point solutions, then investing accordingly.
Core Components
Highly integrated solutions that
provide foundational marketing
capabilities. Focus on:
• Stability
• Scalability
• Strategic vendor partnerships
Point Solutions
Solve specific challenges. Focus on:
• Experimentation
• Innovation
Consider Xerox Chief Marketing
Technologist Duane Schulz’s 70/20/10
approach, which balances these needs
through an intentional mix of MarTech
investment dollars:*
• Core platforms (70%)
• Adjacent solutions integrated with
core platforms (20%)
• Edge point solutions (10%)
Notably, the number of investments is
the inverse of dollars spent, with 70%
in point solutions and 10% in core
platforms.
*Source: chiefmartec.com
70/20/10 Investing
14. IN OUR RAPIDLY CHANGING ENVIRONMENT
IT’S HARD NOT TO SEE THAT THE SINGLE
MOST VALUABLE MARKETING CAPABILITY IS
AGILITY.
14
Scott Brinker, Editor, chiefmartec.com
“
15. DON’T LET VENDOR CHOICES LOCK YOU IN.
15
You’ll likely need to change each component in your stack at some
point. As you consider vendors, think about:
How flexible are vendor contracts?
How easily can each solution be removed or replaced?
Who owns the data flowing through each solution?
If you removed or replaced any solution, what would be
the effect on other components in the MarTech stack?
FLEXIBILITY
IMPACT
16. 16
1. THINK BIGGER
2. PLAN
YOUR
APPROACH
3. GET YOUR
TEAM READY
4. STAY ONE
STEP AHEAD
18. [IMPLEMENTATION] CAN’T TAKE A QUARTER,
AND WE HAVE TO KNOW THAT WE HAVE
PEOPLE READY TO TAKE ADVANTAGE OF THE
TOOL.
18
Geeta Sachdev, CMO, VMTurbo
“
19. DON’T ASSUME ROLLOUT WILL GO SMOOTHLY.
19
Discovery
Business
Requirements
RFP
Proof of
Concept
Rollout
• Outline high-level
workflows
• Document all
impacted systems,
teams, processes
• Identify necessary
resource
adjustments,
including personnel
• Identify vendor
shortlist
• High-level vendor
demos
• Build rollout plan
• Map out detailed
workflows
• Review rollout plan
with stakeholders
• In-depth vendor
walkthroughs based
on unique workflows
and requirements
ILLUSTRATIVE KEY TASKS IN EARLY PLANNING AND PROJECT PHASES INCLUDE:
Even if you’ve been promised an easy rollout, think through how a tool will be
used. Early identification of dependencies and impacted teams, systems, and
workflows will help you foresee risks and create an approach that works for
your organization.
21. IF THE PEOPLE IN THE ORGANIZATION DON’T
BELIEVE IN THE VISION, THE TECHNOLOGY IS
USELESS. INTERNAL COMMUNICATION SHOULD
BE THE BIGGEST PRIORITY WHEN NAVIGATING
CHANGE INTERNALLY.
21
Maggie Fox, Global SVP of Marketing, SAP
“
22. Having a deliberate approach to change management helps build
project momentum and ensure people can and will use new tools.
TECHNOLOGY IS WASTED IF NOBODY USES IT.
22
Build an approach that includes at least these four key components:
1
Craft a Vision
A motivating vision inspires
people into action and
provides direction.
2
Engage Stakeholders
and Build Momentum
Stakeholders not only
provide input on project
direction, but can also build
momentum within their own
teams and departments.
3
Clear Barriers
Large rollouts will almost
always face internal
resistance. You may need to
work with people 1-to-1 to
negotiate and address their
concerns.
4
Focus on Measurable
Results
Establish quick,
measurable wins to help
prove the value of your
project and buy time to
complete it.
23. 23
1. THINK BIGGER 2. PLAN YOUR
APPROACH
3. GET YOUR
TEAM READY
4. STAY ONE
STEP AHEAD
25. OUR TWO BIGGEST CRITERIA ARE: ARE YOU A
MARKETER BY BACKGROUND, AND DO YOU
UNDERSTAND TECHNOLOGY?
25
Steve O’Brian, VP of Marketing, Chronus
“
26. If you’re hiring for the long-term, don’t overemphasize experience with a
collection of specific tools you use today. Those skills can often be readily
taught, and you may be using different tools next year. Instead, focus on
hiring employees who are:
HIRE FOR ADAPTABILITY AND A HUNGER TO LEARN.
26
Avid Learners
Modern marketing requires
constantly building skills in new
channels, technologies and
techniques. This makes the ability
to learn more valuable than the
tactical skills a new hire has when
she starts.
Marketers often need to wear many
hats – look for team members who
are able to jump in and contribute in
a variety of ways.
Adaptable
Those with a passion for
marketing and technology won’t
settle for the status quo, and will
push your team to do more.
Hungry
27. A TEAM IS LIKE A PUZZLE – IT LOOKS MUCH
BETTER WHEN THE PIECES FIT TOGETHER.
27
28. MARKETING ISN’T JUST A MACHINE. YOU
NEED A MECHANIC, BUT IT’S THE SOUL OF
THE PRODUCT THAT CONNECTS WITH
PEOPLE AND EVOKES EMOTION AND
REACTION. AND HOW DO YOU DO THAT
THROUGH THE STORY THAT YOU’RE
TELLING IN YOUR MARKETING? THAT TO ME
IS THE PIECE THAT’S HARDER TO COME BY,
BECAUSE THERE’S NO FORMULA.
28
Bridget Perry, VP of Enterprise Marketing, Adobe
“
29. Include technical skills in your
hiring plans, but don’t ignore other
important areas.
BUILD A TEAM THAT BALANCES TECHNOLOGY SAVVY
WITH CLASSIC MARKETING SKILLS LIKE STRATEGY AND
STORYTELLING.
29
Nobody has all the skills you
need, so focus on blending
individual areas of expertise to
build a high-performing
marketing organization.
Representative modern marketer skillsets may include:
30. 30
1. THINK BIGGER 2. PLAN YOUR
APPROACH
3. GET YOUR
TEAM READY
4. STAY ONE
STEP AHEAD
32. 32
Grad Conn, General Manager for US CMO, Microsoft
THE ONE THING YOU KNOW IS YOU DON’T KNOW
ANYTHING. MAKE SURE YOU HAVE A PLAN IN
PLACE TO ITERATE AND LEARN.
“
33. FIND CREATIVE WAYS TO KEEP UP WITH MARTECH.
Our interviewees have developed innovative approaches to staying on top of
MarTech advances, including:
33
Has organized peer exchange
trips with similar, non-
competing companies to
understand how they approach
MarTech challenges.
Stefan Gass
Veeam
Regularly speaks with VCs to
get advice on which companies
coming out of the startup scene
are most promising.
Rishi Dave
Dun & Bradstreet
Sends his team to conferences
not only to learn, but also to
validate their approaches
against what others are doing.
Steve O’Brian
Chronus
34. SUMMARY
34
To get the most out of marketing technology follow these four steps:
1. THINK BIGGER
Think of your marketing stack holistically and balance innovation with long-term stability
and flexibility.
2. PLAN YOUR APPROACH
Active and deliberate planning helps ensure a higher likelihood of rollout success.
3. GET YOUR TEAM READY
Create a balanced team of marketers who have a hunger to learn, an adaptive nature,
and a balance of technical, strategic and creative skills.
4. STAY ONE STEP AHEAD
Expect that technologies will be constantly changing. Work to build flexible systems and
find ways to keep up with marketing technology to stay ahead of the curve.
35. WANT MORE?
Download the full report:
Marketing Technology as a Strategic Asset
35
DOWNLOAD
lenati.com/martechstrategy
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