“We have customers that have 400 different types of tools in what they consider their marketing technology stack,” Anita Brearton, founder and CEO of martech management company CabinetM, shared with an auditorium full of marketers at the MarTech Conference in Boston last week.
Some businesses have made technology acquisition oversight a priority. Yet in many companies, individual departments are buying their own technologies without regard to what other teams may already be using. How can enterprises ensure that their technology budgets are being well spent and managed companywide?
Brearton led a panel discussion with marketers from different industries with different stacks, who all developed martech acquisition processes for their companies.
Picking the right platforms, getting the most out of them
Martech stacks evolve as new capabilities and needs arise, which can create a neverending cycle of product evaluation, implementation and retirement. If left unchecked, that cycle can result in wasted budget, disinterested stakeholders and falling short of your goals. Teams can address this potential pitfall by framing their decisions with the most important use cases in mind and establishing an internal champion for each product.
“We really only looked at four or five real big key use cases . . . So, we kept a pretty tight roadmap and we knew that these were the use cases that we wanted to evaluate and buy for,” explained panelist John Jagelsky, senior manager of marketing operations for QuickBase.