The MarTech Conundrum - All the bells and whistles, however no full band to play the instruments

All the bells and whistles are there, but many businesses don’t have the full band to play them. While MarTech platforms promise high powered solutions capable of transforming marketing, implementing these tools often proves more challenging than anticipated. Many businesses are enticed by MarTech’s potential but struggle to fully leverage it. Industry conferences are filled with promises of groundbreaking technology, yet without the right resources, expertise, and processes, these powerful platforms often remain underutilised.

First off, what is a MarTech platform?

So, what exactly is a MarTech platform? Simply put, it’s technology designed to support marketing activities. Whether for advertising, analytics, content, social media, e-commerce, or data management, the range of available platforms is expanding rapidly. These can include everything from analytics platforms and performance media tools to email marketing software integrated with CRMs and customer data platforms. The MarTech landscape has grown from just over 1,000 platforms a decade ago to more than 11,000 today - a huge increase.

To illustrate the sheer diversity and scale of available MarTech platforms, here’s an example I often refer to. It’s a striking reminder of just how vast - and, admittedly, how old it makes me feel, this landscape can be.

Why are MarTech platforms underutilised?

Lack of or poor request for proposal (RFP) process

It often starts with an underprepared RFP. Companies may not ask the right questions, fail to align with their overall strategy, and overlook whether they have the resources to support these platforms. You end up with a Formula 1 car, but no driver or pit crew. Essentially driving a Ferrari like a Toyota Corolla.

Resource challenges

Specialised MarTech talent is expensive and difficult to recruit. Businesses either don’t pay for experienced professionals be that in house or external business or fail to consider succession by hiring junior staff who can be trained to step up. Without a mix of experienced and trainable staff, the platform’s potential goes untapped.

Lack of a business case

Many businesses jump into MarTech without a strong case to justify the costs or the benefits. I’ll have more on the importance of a business case in a future article. This results in underutilisation because they haven’t identified what the upside could be or how the technology fits into their broader business strategy.

Senior stakeholder expertise

Understanding contract inclusions and scalability is crucial. You need senior stakeholders who can anticipate the long-term implications of the technology and ensure that entitlements are fully utilised without breaching contracts. If a breach does occur, it's essential to get ahead of it by making informed recommendations—whether that means negotiating increased allowances, revisiting the current setup, or refining internal processes to find more efficient, cost-effective solutions.

Technology and marketing teams alignment

A strong partnership between technology and marketing is essential. Without collaboration from the outset, platform implementations risk falling short. Often, RFPs are led solely by either technology or marketing, which can exclude valuable insights and experience, resulting in less effective outcomes. Cross-functional collaboration should be built into the organisation’s structure by design, not as an afterthought

The cost of poor onboarding

Many companies invest in expensive platforms but face challenges in onboarding and operationalising them swiftly, which can lead to substantial expenses without measurable returns. Prioritising team resources for setup and integration from day one is essential. While external partners can assist with onboarding, thorough due diligence is crucial, as third-party support still requires significant internal effort. Proper preparation can save both time and money. As the saying goes, Prior Preparation Prevents Piss Poor Performance - a reminder that setting up for success from the start is invaluable.

Integration with existing processes, technology, and data

From the outset, it’s crucial to evaluate how a MarTech platform will align with and enhance current business processes. Effective integration often requires openness to adjusting workflows and ensuring compatibility with existing infrastructure to avoid the platform becoming an isolated tool. Many businesses continue to face challenges with data silos or data formats that hinder seamless integration. Addressing these integration challenges early on, whether through process adjustments or data restructuring should be a core consideration when assessing any new MarTech platform to bring into the business.

The upside of leveraging MarTech

When effectively utilised, MarTech platforms deliver powerful advantages:

• Improved efficiency in marketing channels: By automating time consuming tasks, MarTech platforms free up marketing teams to focus on strategy and optimisation, enhancing the overall effectiveness of marketing efforts.

• Enhanced customer experience: MarTech enables brands to meet customer expectations more precisely, delivering relevant, personalised content that enriches engagement and aligns with customer interests.

• Reduced time on labour intensive admin tasks: For instance, a data visualisation tool can automatically consolidate data from multiple sources (social media, Google Analytics, email platforms, sales data, etc) into an easy to read dashboard. This eliminates hours of manual data gathering, empowering teams to act on insights in real-time.

• Scalability for rapid growth: As businesses expand, MarTech can scale with them. When fully leveraged, it enables more sophisticated marketing activities without the need for proportional increases in staff.

• Better decision making: With data readily accessible and reporting streamlined, MarTech helps businesses accelerate decision making. Readily available insights and seamless reporting enable teams to make informed choices quickly, enhancing both performance and growth.

Building a rockstar team that can effectively play the instruments of your MarTech stack isn’t an easy task. However, if you can assemble a capable team, engage the right stakeholders, and establish clarity from the outset about the specific problems the platform is intended to solve, you’ll be well on your way to maximising the value of your MarTech investment. With the right approach, you can turn the potential of these platforms into tangible results, driving growth and enhancing customer experiences along the way.