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7 business strategy principles for the right marketing technology solution

Here are 7 evergreen principles to ensure you have the right marketing technology solution in place.

1. First gather, then make decisions

Before you start building campaigns and using features, always gather as much information as possible. 

In Marketing Technology, it is tempting to just go for any use case, copy what worked for others and apply the tools as soon as possible. You want to drive more leads and sales for your business.

However, to make a tailor made marketing architecture, a lot has to be accounted for.

What is your current Data Model? Your products and services? Your company’s

market positioning? KPIs and margins? What previous experience do your people
have with other marketing technology solutions?

The right answer from a good consulting partner will always be “it depends”.

2. Know the long-term consequences of your architecture

Sending 1000 emails a day sounds easy for any marketing tool.

How about 1 million emails and SMS messages a day?

What if those millions of messages need to be synchronised and leveraged using a Data Model and dynamic personalisation? The right solution architect will always advise you on what’s best in the long term.

Always think compound. Computational cost is real, and what looks stable now might turn into poor customer experience, slow performance and debugging when your sales funnel grows or you decide to expand your business.

3. Cost is not the same as investment

Allocating a reasonable part of your budget for a marketing technology solution is an investment. Not an expense. Your enterprise is building a spaceship that will drive revenue, 24/7 automation and 360º customer profiling for years.

Budgeting for this is key.

The right technology solution might mean the difference between going out of business in the next ten years or leading a market industry and beating your competition thanks to: lower acquisition costs, automated customer touch points, personalised customer journeys, etc.

4. Not all ROI can be measured in direct revenue

The ultimate goal of a business is to grow and drive sales. However, not all investments have a clear monetary return in the short run. Think of several multipliers that affect one another and compound your overall marketing performance. Like a domino’s effect.

An example: designing a robust Data Model for your enterprise marketing tech doesn’t mean more sales, but it ensures later marketing intelligence, happier customers due to personalised communications, excellent customer experience due to predictive insights, higher retention rates…

5. Choose the hardest path

When facing a difficult marketing technology decision, going for the option that involves more work or investment in the short-term is usually the right thing to do. Using the same marketing technology you have had for years and staying within your business comfort zone sounds, indeed, comfortable. Easy to keep doing. Controlled.

However, what are the long-term consequences of not adapting to changing customer behaviour? Will your business survive in the next 10 years of technological revolution and cultural shifts? Short-term stress is usually linked to greater long-term gains, even if it requires adoption, a longer implementation or training your staff.

6. Understand the power of modern leverage

We live in an era of infinite leverage. In venture capitalist Naval Ravikant’s words, “an army of robots is freely available – it’s just packed in data centers for heat and space efficiency. Use it”.

In order to reduce costs, improve your margins and drive more sales, your marketing team needs to apply the modern form of leverage: using code and automation. Build it once, use it infinite times. Database imports, email sends, customer profiling and segmentation, gathering insights. 

Don’t leverage manual and / or repetitive tasks. The right marketing technology solution can work 24/7 for you and help your staff save lots of time and money.

7. Account for the whole organisation

We always advise businesses to involve as many stakeholders as possible when designing a marketing technology solution. Just like your team needs to account for long-term architecture, it is important to consider the whole organisation in your plan. Your sales funnel, the vendor you decide to go for, how you’ll leverage data sources, most relevant KPIs. It all affects other departments and there will be dependencies in your way of working, limitations and variables to consider.

Conclusion

A lot has recently changed in such a short time since the pandemic. Years of digital innovation and transformation accelerated in a matter of months. It is now the time for businesses to turn disruption into an opportunity. The right consulting partner will always account for these architecture principles to ensure your company’s long-term growth. If you’re interested in knowing more about Wunderman Thompson’s work, check out how these businesses have already leveraged their marketing technology architecture:


“There is no favourable wind for the sailor who doesn’t know where to go”


    - Séneca