Unlock the Value: Maximize the ROI of Your MarTech
With all the data being collected, transformation of customer experiences, specialized tactics, and endless possibilities, the modern martech stack has emerged as a powerful tool for marketers, granting them more control over the customer journey, and opening up more team efficiencies. However, having a stack of tools alone is not enough; many marketers find themselves grappling with the challenge of extracting the maximum value from their martech investments.
Unlock the Value: Maximize the ROI of Your MarTech
With all the data being collected, transformation of customer experiences, specialized tactics, and endless possibilities, the modern martech stack has emerged as a powerful tool for marketers, granting them more control over the customer journey, and opening up more team efficiencies. However, having a stack of tools alone is not enough; many marketers find themselves grappling with the challenge of extracting the maximum value from their martech investments.
120 martech tools is the average number leveraged by Enterprise Brands. – Chiefmartech.com
Only 42% of the capabilities available in their martech stacks are reportedly used by marketers. – Gartner
30% to 40% of cost savings come from rethinking and reengineering technology. – Bain & Company
That’s why we’ve put together a super easy checklist for you. It’s skimmable, shareable, and packed with tips to help you maximize your investment in your current martech stack. Let’s make sure your efforts pay off and get the most juice out of your squeeze.
Take Inventory of Your Current Tools
- Document your current ecosystem.
- Map tools to strategic value drivers.
- Define KPIs that empower you to regularly track and measure success
- Measure value based on delivery versus expected performance against KPIs.
- Are there redundancies across the stack? If so, evaluate the benefits of simplifying these tools.
Centralize Governance
- Define an owner of your ecosystem to define guardrails for decision making and an empowered perspective.
- Develop a cross-functional steering committee to establish shared goals and resources and to reinforce adoption.
- Define a cadence for regular evaluation of performance metrics and utilization to ensure efficiency in spend and resources.
Consolidate, Consolidate, Consolidate (Where You Can)
- After taking inventory, eliminate tool sets with overlapping features and functionality. For example, are your promotional and marketing messages coming from the same platform?
- Map tools across your customer journey with the aim to reduce friction in the overall customer experience.
- Test new features and functionalities from your existing stack—evaluate opportunities to expand utilization.
- Define benchmark for tooling utilization to ensure maximized value. For example, if you’re utilizing <25% of a product’s features, there may be opportunity to expand or simplify.
Get the Most Out of Your MarTech
Optimizing your martech stack is all about making the most of your existing tools and considering consolidation. Once you’ve audited your current martech stack, mapped your tools to achieve business outcomes, and found the balance between specialization and simplicity, you’re well on your way to maximizing your ROI.
Iterable—the most powerful customer communication platform— leverages flexible APIs to seamlessly integrate your existing tools, while gaining specialized tooling to support your cross-channel activation efforts at scale. Iterable is flexible, scalable, AI-driven, and designed for marketers like you.
