Liz Ross, CEO of Shift Paradigm, urges marketers to take a page out of their spring cleaning playbook and conduct a thorough assessment of their marketing technology (MarTech) stacks. With the vast array of MarTech solutions available in the market, it’s easy to become overwhelmed and lose track of what tools are actually being used. Ross emphasizes the importance of maintaining an inventory of your MarTech stack in order to optimize it for success.
The first step in decluttering your MarTech stack is to assess the fit and purpose of each tool. With the average tenure of Marketing leaders being under three years, it’s common to find outdated or redundant tools that are no longer serving the organization. Evaluating the alignment of each tool with current and future business needs, as well as its relevance in the rapidly evolving marketing technology landscape, will help identify which tools to optimize or let go of altogether.
Involving team members from different departments in the assessment process can provide a holistic view of how each tool is being used and its impact on the organization. By considering factors such as tactical capability enablement, usability, performance, and security, marketers can make informed decisions about the tools that best support their business objectives and customer experience goals.
Identifying gaps in your MarTech stack is crucial for planning future investments and ensuring that the technology aligns with your business goals. From addressing technology redundancy and underutilization to improving data quality and user adoption, a strategic approach to investing in your MarTech stack will maximize ROI and future scalability. Ross recommends performing a formal assessment of your MarTech stack every 24-36 months to stay ahead of gaps and technological advancements.
Just as selecting timeless, versatile pieces for your wardrobe ensures long-term value, making wise investments in your MarTech stack requires strategic decision-making and long-term planning. Mapping out foreseeable martech needs for the next 3-5 years and aligning investments with business objectives will make the continued upkeep and optimization of your marketing technology stack less overwhelming. Understanding the tools in your MarTech stack and their alignment with your business objectives will always be in style, no matter the trends dominating the industry.
