MarTech: Shiny New Object or Worthwhile Tool?

Marketing technology, or MarTech, has changed the overall landscape for communication professionals in not only how we do our jobs but what skills and training are necessary to be successful in our chosen profession. In just the past decade, digital marketing and mobile technology has grown exponentially from almost nothing. Software and platforms exist in concentrations such as marketing automation, email marketing, social media, and beyond. Basically, anything that a marketing professional utilizes as a tool to reach customers is considered MarTech (Slefo, 2017). Companies that offer tools like these exist in cloud-based platforms and offer software-as-a-service, also known as SaaS. Services that help marketers combine analytics with strategy can be costly as well as cause shiny object syndrome, meaning professionals will hear about the latest and greatest trend and jump on board without weighing the pros and cons of adding a new tool to the marketing stack.

The above image shows the current tools available to marketing professionals. (https://martechtoday.com/library/what-is-martech)

Greg Huckabee, a Client Engagement Manager at DemandGen, explains that communication professionals need to follow three recommendations to avoid Shiny Object Syndrome:

1.       Consider what tools you are already utilizing in your marketing stack. Really dive into the full capabilities of a platform or software program before adding a new one.

2.       Reflect on your current skill set as a marketing professional and gauge whether or not you can adapt your current abilities to a new software.

3.       Only move forward with MarTech that is in alignment with your current business goals and will help accomplish objectives and bring a positive ROI.

In addition to these tips from Huckabee, I would recommend reviewing the budget for

the marketing department to ensure that any subscriptions you choose to sign up for will fit within those allotments. These services tend to be expensive and it is important to think of what the benefits of the software will be in comparison to the costs. Those costs will include not only monetary but the time it takes to learn how to use the technology and possibly train other team members.

References

Huckabee, G. (2019, April 30). Look, New MarTech! 3 Steps to Avoid the Perils of Shiny Object Syndrome. Retrieved from DemandGen: https://www.demandgen.com/look-new-martech-3-steps-to-avoid-the-perils-of-shiny-object-syndrome/

Slefo, G. P. (2017, May 10). What Exactly is a MarTech Stack? Retrieved from AdAge: https://adage.com/article/digital/martech-stack/308976