MarTech is poised to explode in the years ahead. As companies figure out how to implement and use the capabilities of MarTech, CMOs will spend more on these platforms — maybe as much as $120 billion over the next decade, according to a projection by Foundation Capital.
But 51 percent of marketers say that their companies aren’t yet investing enough in MarTech, meaning MarTech buyers face real challenges. One of those challenges is that many marketers take action only after they’ve realized the need for MarTech tools. Spotting missed opportunities and synergies that could lead to some real breakthroughs in messaging, marketing professionals have only recently become more proactive as MarTech begins to deliver on its promise.
For MarTech providers, understanding the MarTech buyer is key to building or presenting the tools that they need.
Adjusting to MarTech tools.
While some marketers may be ready to take a dive into a new MarTech solution, others may be more hesitant. As a MarTech provider, you have to recognize which stage your prospect is at. For those who are more hesitant, it may be wise to select a pilot program that will allow them to experience, test and evaluate a new MarTech tool and adjust processes as needed before large-scale deployment.
Look at the prospect’s past and present marketing efforts.
These will be a guide to what their organization hopes to accomplish with marketing, and what tools or features you should consider when building a new platform. Those efforts will also tell you if the prospect is on the right track and what opportunities they’re missing with their current tools.
Understand the different needs during the buyer’s journey.
Again, some prospects are ready for the MarTech journey while others are just starting to investigate how their current tools could be augmented by a MarTech solution. Your approach should be tailored to where the prospect is at in their journey. The key component to this is listening before presenting solutions to the prospect.
Integrating with multiple tool sets.
There are so many pieces to the marketing puzzle and most marketers are using multiple marketing tools to reach their goals. As a MarTech provider, it is important that you can present or build a platform that complements the current tools used by the company.
Remember, your efforts to connect with prospects will tell them something about you. If you learn what prospects are looking for, you’ll find opportunities to build or present the perfect platform. You’ll also build the credibility that comes with convincing prospects that you understand their challenges. If you don’t, you may miss the chance to build a genuine pipeline that could yield results month after month.