tips to successfully add martech to your stack

Companies are trying to do more with less in today’s economy. Marketing Technology is the CMO’s most reported investment this year.

The choice is up to marketers and martech professionals whether they want to purchase a single product or the entire platform suite. Data on customers, AI, analytics, and marketing automation are essential for any martech stack. Several companies now want to sell all of these at once.

You’re probably already convinced that adding a third product or four is a good idea if you own a few products from a company. To be fair, sometimes it is a good move. It is important to understand the many aspects of the decision, including your company’s unique situation at the time. You also need to know what your true strategic goals are.

Before you decide to move multiple tools all at once, consider these five steps.

1. You should focus on the features you need and not the product.

If you’ve had some success with the tool you already have and you want to expand your product line, then you should first identify what capabilities you need without naming any specific product. It’s hard to do this because we are familiar with the brand and what they have to offer. They also tell us about their new products and how they can benefit you.

It is important to focus on what you are missing and how it will add value to your stack. If you already use Adobe Analytics and Target then adding Sites could make the process more seamless. But is your website lacking something? The time and cost may not be worthwhile if it is not.

Dig deep: Four steps before you launch your new martech platform

2. Validate whether the product is mature and if it has been newly acquired

Acquisitions have been a major growth strategy for many large martech firms. Many newly acquired products need to be integrated into the ecosystem. Verify their plans, even if the product is well-established and has a good reputation.

Ask for concessions or discounts, as there is no guarantee. It also applies to new products. Does the system represent a quick reaction to changes in the marketplace, competitors or new capabilities added to the product?

Validate its maturity, and ask for specific examples on how it can meet your needs. Validate the use cases of existing customers in order to ensure that the product will work in your company.

3. Calculate the cost of the entire implementation, including the platform.

Assess the cost of migration, taking into account any company changes required. Many companies offer discounts if you buy multiple products from their stack. Some companies may stagger licensing costs to reflect the time required to implement and scale a solution. But don’t get swayed by the price.

Add up the costs of licensing, managed service support and development and make your choice. There is much more to migration than just the software. Among the things that are frequently forgotten:

• Training for users
• Changes to data and taxonomy.
• Data Storage Implications
• Changes to the Brand Template
• Impact of Platform Downtime

The list you receive will depend on the system that you are purchasing. So, think about your budget and each solution separately.

4. Get the buy-in of cross-functional teams and their commitment

Most successful implementations are those that integrate into the way marketers conduct business. Although buying a platform to integrate it into company systems is faster, I do not recommend this approach.

You need to involve your teams early and often. Ask your brand marketers how the new platform renders assets (e.g. emails, websites, and so on). Ensure analytics is aware of all the changes that will result from switching systems. Be sure to account for the data, tracking, and tagging modifications that come with a product change. You cannot afford to ignore these things.

When you start these conversations, make sure to communicate clearly your migration plans and your intended timeline. Make sure you get their commitment, to dedicate resources and to deliver the required work that they are responsible for.

5. Create a timeline and project plan, then choose your option

Let’s talk about the timing of implementation. All of us have heard about transformations ” that only took X weeks/months” but those are usually isolated events. Do not blindly believe what you see on the conference stage. Think about your current situation and what is making you want to change.

Outline the amount of work and time required to implement the plan based on the size of your team, previous implementation experience, and expertise or knowledge in the new field. You should also consider the learning curve of any outside help you hire, as well as their access to company systems.

The smallest details can make the difference between an implementation lasting six months or a year. This is made worse when you try to implement several capabilities at once.

Dig deep: A five-step guide for retiring martech tools without disruption of operations

Martech: How to implement it effectively

Timelines are seldom precise, even with a project plan that takes into account the above-mentioned potential pitfalls. You may not think about certain issues until the project is underway. Usually, you start paying for tools when the contract is signed and not at launch.

You will also likely have a leader who is counting the days they pay double.

As the martech usage rates are falling, make sure you don’t add new shelfware into your company’s books. Follow the above steps to successfully implement and adopt martech, regardless of whether you’re using one platform or more.

The article MarTech: 5 Tips for Successfully Adding Martech to Your Stack first appeared on MarTech.