For most advertisers, MarTech has become an integral part of their business. High demands on marketers request that they understand customer behavior entirely and build targeted and personalized ads based on this knowledge. Accordingly, marketing technologies such as CRM, automation and attribution systems are essential for many advertisers.
Marketers are, however, faced with the difficult task of finding the best technology for their company. To be able to select the right partner, it is important to ask the right questions. We have summarized the key 10 questions marketers should be asking their MarTech vendors in this blog post.
1. CAN THE TECHNOLOGY BE TESTED IN ADVANCE?
A proof of concept can give advertisers the assurance that a new technology will ultimately deliver what it promises. The ability to test a solution allows marketers to identify potential integration challenges early on. This allows for a smooth implementation of the tool on a larger scale and reduces the subsequent organizational effort. Advertisers therefore save time and money.
2. HOW DOES THE INTEGRATION OF THE TOOL AFFECT OUR TEAM'S PROCESSES?
The implementation of new technologies always has an impact on the team working with the technology. When the advertiser invests in new marketing tools, it is important to focus not only on the benefits of the tool itself, but also on the impact that the implementation will have on the team’s work processes. A new tool is expected to change the way tasks are currently handled. These changes should therefore be highlighted and communicated in advance.
3. DOES THE TECHNOLOGY SUPPORT OUR COMPANY'S OBJECTIVES?
The advertiser should be certain about what the technology should achieve in the company. What are concrete objectives? Where is a need for optimization and what are the requirements? If the needs of the company are reflected, it is easier to create a requirement profile in order to make the right choice.
4. CAN LONG-TERM OBJECTIVES BE REALIZED WITH THE TOOL?
A technology should not only meet today's requirements, but also support advertisers in achieving their long-term goals. Accordingly, the flexibility of the marketing technology plays an important role. Marketers should ensure that the new tool adapts to the development of their business and is able to meet future requirements.
5. HOE DOES THE TECHNOLOGY HELP US UNDERSTAND CUSTOMERS HOLISTICALLY?
In many companies, technologies and teams are still working in silos. As a result, cross-channel insights are often overlooked and prevent marketers from truly understanding their customers holistically and delivering a consistent brand experience across all channels. New technologies should therefore help to gradually reduce silos in companies and to see marketing as a whole.
6. DOES THE PROVIDER'S CULTURE AND STRATEGY FIT TO OUR OWN?
It is important to find out at an early stage whether the strategies of the MarTech company are compatible with one's own. Marketers should therefore ask a number of questions about the company's growth and profitability. For example, how many customers does the company have? Are the customer relationships more short- or long-term? How is the revenue distributed across the customer base? This is how the compatibility of the MarTech supplier with your own company can be reviewed.
7. HOW RELIABLE IS THE DATA?
Clean and reliable data is critical to marketing success. Therefore, advertisers should ask their data providers about the transparency and integrity of the data.
8. WHAT ARE THE ONGOING COCTS FOR SUPPORT, MAINTENANCE AND FURTHER DEVELOPMENT OF THE TECHNOLOGY?
For many advertisers, cost is already one of the most important aspects when selecting a new MarTech provider. In addition to one-time implementation costs and a monthly basic fee, advertisers should pay attention to transparency in other cost items. Are there certain features that are not included in the usage fee? Is the use of the tool limited to a certain number of users? These questions should be clarified in advance with the technology provider.
9. WHAT DOES THE MARTECH VENDOR'S ROADMAP ENTAIL?
When buying software, advertisers need to be aware of their requirements in terms of functionality, workflows, data, etc. Often, however, only today's needs are considered, even though marketing technologies and requirements are constantly changing. Marketer should therefore also ask about the provider’s future plans and visions. Advertisers can then evaluate these plans and compare them with their own goals.
10. HOW CAN THE TOOL CONTRIBUTE TO INCREASING SALES?
While it is obviously beneficial if a MarTech tool helps the advertiser saving time, reducing efforts or increasins team productivity, the more relevant question is whether the tool can contribute to revenue growth rather than just incur new costs.
In the search for the right technology, relevant factors such as existing technologies, employees, costs and personal goals need to be considered. If advertisers ask the right questions, they can find out which partner is right for their business and how they are approaching their goals. Because the right tools enable marketers to use their advertising budgets efficiently.