CeBIT Conferences 2017  

10
Dec

Debunking the 3 biggest myths about marketing technology

Debunking the 3 biggest myths about marketing technologyAs a marketer, keeping up with the latest trends and technology developments is part and parcel of your role. That’s often easier said than done though.

With new marketing technologies entering the market almost every week - all promising to be the ultimate solution to smash all your goals in record time -  it’s impossible to stay across it all and understand what’s relevant for your company.

Before you even consider bringing new tech into your organisation, it’s important to understand that marketing technology is not going to be the be-all-end-all to your organisation’s problems.

Don’t get us wrong, marketing technology is an asset that has forever changed and will continue to effectively improve digital marketing efforts around the globe. But, if you’re thinking of onboarding new marketing technology, whether it be a $10,000 per month marketing automation platform or a $15 per month social media management suite, be sure you’re aware of these three myths before you hand over the credit card details.

MYTH #1 - Marketing technology solves all your marketing problems

If there’s one thing you can be sure of it’s that marketing technology companies are at the forefront of marketing themselves. This includes commissioning research that supports the ROI and general effectiveness of their particular line of technology.

If you’re regularly reading industry publications, you’re probably familiar with snippets such as “organisations who use a CRM gain an average return of $5.60 for every $1 spent” and “companies who use an automated email system with personalisation have found a 451% increase in lead generation. While these statistics are definitely true, they are also only telling part of the story. Sadly, tech won’t solve all of your marketing problems with the click of a button.

In fact, a CMO report discovered that 54% of senior marketers didn’t know if their marketing technology investments were even paying off. Want to know why?

Because marketing technology is a tool to scale, reduce manual labor and deliver the marketing needs you’ve identified in your strategy — no technology is going to skyrocket your lead conversion without proper strategic planning.

Without the necessary documented strategic planning surrounding your goals, needs, training, implementation, on-going management and much more, your problems will still exist. Unfortunately, they might even amplify.

Here are some tips to help you choose the right software for your business in a few simple steps.

MYTH #2 - Managing customers' communication preferences is not worth the effort

This is completely incorrect. Understanding and managing customer communication preferences is an evolving process. It should be a crucial part of your marketing plan as it requires ongoing administration and compliance checks.

What’s more, consumers are bombarded with so many pieces of communication every single day that they feel overwhelmed and often delete emails, or worse, click unsubscribe.

To save your database and keep it clean you need to implement a system that - at the very least - can manage customer preferences by communication frequency. A more advanced system will also enable you to segment your leads further into different interest areas. This type of segmentation ensures that your contacts only receive information that is 100% relevant to them, which is especially important if you have many different products with different target audiences.

MYTH #3 - Technology alone will bridge the gap between marketing and sales

If it sounds too good to be true, it probably is. Technology isn’t human and it cannot think for us - yet. Your sales and marketing team are made up of real life people, and while technology can make a difference to team alignment, it can’t work without a plan.

The best way to forge true alignment between sales and marketing teams is through agreed on processes, service level agreements (SLAs) and open communication.

Don’t despair though, technology can help.

Technology is the tool that keeps everyone’s actions transparent. It ensures everyone is accountable to their agreed upon SLA goals and measures how everyone is tracking toward said goals. 

If you want to learn more, this blog tells you how to align your sales and marketing team and boost your bottom line.

With so many marketing technology tools out there and even savvier salespeople, it can be hard to work out exactly what technology your organisation needs and how it will work. But now that we’ve debunked some of the most common myths about marketing technology, you’ve got a much better chance of success.

With dedicated strategic thinking, documented processes and clear goals in mind, you will be able to find the marketing technology that’s the best fit for your company.

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