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Audrey Vasina - 09.11.2019

Digging Through the Stacks: How to Keep Your MarTech Optimized

The number of external MarTech vendors and tools being used to manage and support modern digital marketing needs has grown considerably in recent years. According to a recent survey, the MarTech landscape consisted of 150 companies in 2011. Today, approximately 7,000 companies are competing in the digital marketing landscape with more innovative products than ever before.

As businesses continue to grow and new technology is released, it's easy to become trapped in a cycle of technology acquisition and upgrades, leading to oversized MarTech stacks riddled with overlapping and underutilized tools.

That’s why it’s important for businesses of any size to periodically streamline and optimize their MarTech stacks by auditing their current software, prioritizing each tool based on value, and trimming the excess to maintain efficiency, better support business growth, and optimize funds.  

Fortunately, a MarTech audit can be accomplished in just a few steps. Follow the steps below to conduct an effective audit.

Audit your Existing Software

Start by identifying and listing each solution in your MarTech stack. It may require some digging to ensure this list is fully comprehensive, as well as interviews and conversations with numerous departments. During this time, note who owns or manages each tool you identify, as these contacts will be useful later in the process.

Understand the Function

Once you have identified all the tools in your stack, classify each piece of technology by function and usage. First, determine each tool’s intended purpose, as well as how and why it’s being used by your colleagues. Consider if each solution is used on a monthly, weekly or even daily basis, or if there are any systems that are no longer used at all. Conversations with the software owners will be particularly valuable as you work to understand the function, value, and utilization of each tool in your digital ecosystem.

Visualize, Organize & Prioritize

Now that you have gathered the information you need, organize your list of tools in a spreadsheet or flow chart. Based on the number and variety of tools you have, determine the best way to categorize the systems. Can you group them by the tasks they perform or the goals they support? Or is it possible to filter them by frequency of use or associated costs? Can you score them based on key performance indicators specific to each solution’s function? These factors will drive the prioritization of each tool on your list, giving you a clear picture of which systems provide the most value.

Reevaluate your Business Goals and Requirements

If possible, consider supplementing your audit with a reevaluation of your business goals. As the digital landscape and customer needs continue to evolve, your business requirements and associated strategies will frequently change. While assessing your MarTech stack, you should also revisit and realign internally on key marketing efforts and goals, ensuring that your technology audit is being tracked back to the most up-to-date initiatives and objectives.

Trim Excess Now, Expand Capabilities Later
With fresh business goals top-of-mind and a refreshed and clear view of your overall MarTech stack, it may be tempting to jump straight into acquiring new software that better aligns with your needs. Before you start evaluating new tools to fill gaps in your current capabilities, first consider if you can leverage any features or functionalities in your current toolset, as you may not be taking advantage of everything your existing tools have to offer. Secondly, maximize ROI by trimming any overlapping or underutilized system. Once your MarTech stack is cleaned up and reconfigured, you’re ready to use your newfound awareness to add to your digital marketing and CRM capabilities.

At Sagepath, we stay on top of new technologies to help our customers keep their MarTech stacks optimized and cost-efficient. If your enterprise is ready for greater insights, better marketing performance and enhanced customer experiences that create brand advocates for greater ROI, it’s time to get in touch with us.