The investment in marketing technology is exploding. In fact, 70% of marketing executives plan to spend more on martech this year. And while marketers typically justify martech purchases by reasoning that each nifty new tool will make marketing easier, faster and better, the rapid proliferation of applications being used by organizations is fueling more chaos than order.
While martech is a critical enabler that can provide real competitive advantages, it’s not a surrogate for all of your marketing efforts – and certainly should not replace your foundational strategy.
Don’t Forget the Who, What, When, Why and Where of Marketing Strategy
Way too many marketers are focusing on the how before focusing on the who, what, when, where and why. It’s important to get these right before building your marketing technology stack.
- Who? Are you fully confident with the way you determined this? Do you fully understand your target audience’s needs and how your company can help?
- What? Think about your business goals and how your marketing objectives ladder up to those.
- When? Do you understand the appropriate time to engage your audience and deliver the right message?
- Where? Understand where your prospects and customers are most likely to engage with your brand and where it will be most effectively target your audience.
- Why? Are you focusing on certain messages and tactics over others? How do you know they will resonate with your audience?
