Technology

Antidote for acute cases of Martec bloating

Marketing budgets have returned to pre-Covid levels after a tough year. However, the way marketers decide to invest their money has changed, and more resources are being redirected to digital-first strategies.For example, a retailer Next recently announced Currently, we prioritize online marketing and stop all other forms of marketing and in-store advertising. As they change tacks, marketers are expected to increase their investment in martech tools to support their digital efforts.

Finding an affordable solution can be difficult for midsize businesses with low budgets and resources. And since the Martech stack is not well utilized and data synchronization is notorious for pain, the challenge is to find a tool that works for them.

So how do marketers avoid investing and bring about bad cases of Martech’s bloat?

Criminal

A recent survey of retail marketing managers with Attest found that more than a quarter (27%) of respondents use only half of the tools in their stack. Despite buying in good faith, marketers often fall into traps. A seemingly logical place to start the purchasing process is to identify best-in-class solutions for your individual use case. For example, it’s a best-in-class tool for newsletter subscriptions, promo codes, and customer surveys. These are single point solutions. In other words, it does one thing and does it very well. However, lack of integration with the rest of the stack weakens their value.

One of the biggest headaches this can cause is data synchronization. According to our research, one-third of marketers lose at least half a day tool out of sync a week. To add more fuel to the fire, most SMEs do not have engineering support and are forced to outsource to an external agency to manage it. So the tools are spending even more on them. Or, in some cases, synchronization will not occur, the tools will be burdensome, and eventually they will not be fully utilized. The more tools you use, the more vendors you need to manage and the more problems you may have.

Data silos and inadequate integration can lead to gaps in customer insights and even the gaps in the services they provide to their customers. If you have different interfaces and experiences for email, onsite chat, and checkout, cluttered stacks can also lead to inconsistent customer experiences. Marketers are left with trade-offs as a result of their willingness to live.

Antidote

Marketers need to invest wisely to avoid vendor bloat. It’s not just about getting rid of problems, it’s freeing up marketers’ time to spend on important tasks such as running creative campaigns and focusing on reducing acquisition costs and increasing revenue. Is to do so.

Marketers should invest in robust tools that can perform multiple actions across their website, rather than using one tool per process. For example, an integrated solution that can enhance email subscriptions, cart abandonment campaigns, and customer surveys in one toolkit will increase marketer operational efficiency and reduce silos compared to standalone solutions for each of these features. Multi-function tools eliminate the headaches of marketer integration and reliance on different vendors. It also provides end customers with a clean and consistent experience. This should also be considered by marketers.

Flexibility is an important thing to look for when listing vendors and technologies. These need to support the goals of marketers’ customers. This can be a challenge for rigorous out-of-the-box solutions. Business-centric, flexible and versatile tools simplify the Martech stack and give marketers time, resources, and control.

Victory formula

More important than finding a flexible and versatile tool is finding a technology vendor that works in the same industry. Technology vendors who are experts in specific industries, such as e-commerce, online banking, and healthcare, are tailoring solutions for marketers in their respective industries. This means that marketers can benefit from their vast learning and knowledge. The more the tool is tailored to the industry, the more likely it is to maximize its potential.

This is especially beneficial for small businesses that, unlike large companies, may not have the engineering resources to build their solutions in-house. Working with industry-related expert partners, SME marketers have the flexibility to access tools tailored to their business and needs.

No more bloating

As budgets bounce and digital shifts bring new opportunities, it’s important for marketers to invest money in the best possible way. As digital competition intensifies, marketers will need the right toolkits to support their efforts and customer experience. If you want to build an efficient stack and guarantee a smart investment, it’s important to choose the right starting point for your search. Prioritizing multi-functional, industry-specific tools that empower users helps marketers avoid bad cases of marketer bloat.

Photo courtesy Shiora Photo on Release the splash

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https://marketingtechnews.net/news/2021/may/27/the-antidote-for-an-acute-case-of-martech-bloat/ Antidote for acute cases of Martec bloating

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