What you ultimately measure will outline where investments should be made. It’s critical to illustrate how well your current technology is at tracking buyers throughout their lifecycle to ensure you’re delivering something they’re happy with. When you focus on the contribution of marketing to revenue, you are better able to fuel more fires. Should you hire an outside agency, or more? Copy and expand, or try something else? You’ll want to have enough numbers to back up your proposal – the more metrics you have to develop your lifetime customers, the better your chances of getting a budget increase.
According to our recent benchmark of 2,000+ B2B and B2C marketers, optics remains a challenge. Only 18% of marketers say they are able to track leads across the funnel from opportunity to revenue.
Plain and simple, does spending $1 on this software bring at least $3 worth of it?
Here’s a problem – a marketer needs to address 2017 and beyond if it is to break the budget recovery cycle we’ve seen since 2008. Only after you have evaluated measurable data should cio email list you turn your attention to the technology stack. When you do, keep yourself ruthless. Often, devices such as decision trees can help you answer key questions about your software. This is when you ask yourself the following questions:
Is the software critical to making decisions? Are more than one person logged in? (If not, that’s a sign of scrap.)
Would you be stressed if someone told you tomorrow that you had to give up the software?
keep people oriented
While technology is an integral part of every marketing budget discussion, never get ahead of it when it comes to fighting for the budget you need. At the end of the day, more software EA Leads won’t solve your problem. Having 40 or 50+ components in your tech stack just gets in the way of meaningful relationships with prospects and customers – the only thing that matters.
Investment in marketing technology has skyrocketed, but if the software is not implemented with a process and “people-centric” mindset, and designed around maximizing the use of the software, the benefits will diminish over time. The parallel rise of account-based marketing has exacerbated the reliance on automated programs, which themselves provide little value.