e tips to help you navigate the maze of martech markets

You may have noticed that marketing technology vendors change the story around their products all the time to fit their current go-to market, particularly those that are newer.

It looks like this over time:

• It is a browser-based content management system and web development platform.
• It is a.NET CMS.
• It is an intranet portal and enterprise website.
• It is a.NET Web Content Management System (CMS), intranet software, and online marketing system.
• It is a platform for customer engagement.
• It is a CMS that manages customer experience.
• It is an experience platform.
• It is a platform that will help you market your products and services in the context of customer interactions.
• It is a content marketing platform.
• It is a modern SaaS CMS.
• It is a SaaS-based platform that delivers headless content.
• It is the first cloud-native CMS.
• It is a complete digital experience software.
• It is a digital experience platform that can be used in many ways.

Synergy instead of confusion

This creates many problems for third-party vendors. This creates problems for third-party sellers, who have been working with the vendor for many years. They are constantly faced with new sales moves and must keep up with a go to market story that causes confusion rather than synergy in the marketplace.

In an effort to make money and capitalize on the vendor’s new model, new sellers join the ranks. These sellers have difficulty connecting with prospects, who are highly educated and have high expectations. This approach, instead of helping buyers make confident buying decisions, creates confusion for the buyer, leading to inaction and hesitation, which ultimately leads to the long-awaited protracted sales cycle.

This is not a case of brand extension. It’s a brand identity crisis that has become entangled in brand confusion. While the brand may be having issues, no one can help it figure out its future.

Some martech vendors have been reduced to commodity status because of this. They have not only caused confusion among their prospects but also diluted their brand image in the marketplace.

What is a CMO supposed to do?

Despite the challenges you face, you can overcome them by being patient, knowing where you are now (including your mistakes), and being able to clearly identify where you want to go. You will also be able to control your urges for buying martech tools like a child in a candy shop. Here is my advice.

1. Do not fall in love too quickly

You can be captivated by the dazzling martech demos and smooth-talking salespeople. Next thing you know you have a multiyear contract on a martech tool which will cost you a lot and not begin to meet your business, marketing, or customer experience needs.

Psychologists refer to this tendency to quickly fall in love as “emophilia.” This can lead to unhealthy relationships and unhealthy martech vendor relationships.

2. Reject “martech promiscuity”

Yes, that’s correct. The idea of a large martech stack with many independent point solutions is so 1970s. In the digital realm, bigger is not always better. Your team and you should challenge yourself to limit the number of marketing technology tools that are used to solve your business’s marketing goals.

Your business goals for marketing, customer service, and marketing technology should be mapped, prioritized, and aligned. This will help you clarify your priorities and communicate with the seller to see how their solution fits with your goals.

3. Take a test drive

It is both useful for the customer and the vendor. If you have ever been to an auto dealer and were looking for a car, a test drive will be mandatory. Once you have sat behind the wheel of the car and taken a quick ride, it’s hard to resist buying.

The proof of concept (or POC) is the closest thing you will get to a test drive when it comes to procuring martech tools. To prove that the vendor’s solution can produce the desired results for your company, marketing team, and customers, you will need to work with them to create the POC. The vendor may recommend a partner to help with the formal definition, design, development, and delivery of the POC.

Additional resources

There is a lot of confusion. It can be difficult to find the right martech solutions that work for your business. However, there are many experienced sages who can help you navigate this maze. Check out my previous articles on martech.org to see some of the proven strategies and tactics I have used.

• Avoiding a Marketing Technology #Fail Some vendors place growth and new features above supporting existing clients. This makes it difficult to decide which one to support.
• How to build a useful and profitable martech stack. Here is a simplified way to implement your martech stack.
• How can you unlock the power and potential of your marketing technology? Doing it correctly will increase your chances for digital transformation success.
• 3 ways that martech can be made simple again: Can we find a way to simplify and make (martech)tech more usable?
• How to avoid The martech black hole and ride on the crest: Learn how to weather the storm, unlock the power and futureproof your stack while also futureproofing it.

MarTech first published the post 3 pointers for navigating the confusing martech market.