Stop thinking about doing more with less in marketing. Instead, focus on getting the most out of what you already have, like resources and technology.
If you mention this phrase in your 2024 marketing plan, it might make someone on your team look for a new job. Nobody likes it when their boss tells them to do more with less because it often leads to missing goals.
Instead of urging your team to do more with less, consider changing it to “Get more value out of what we have. It recognizes that we can still make progress even if our budget or team size is reduced. Even with fewer resources, there are still ways to improve what we have.
Ideally, this shows that the leader is open to the idea that we can achieve better results by being more efficient and focusing on what we already have. Any competent MOps professional would agree with this approach.
So, if the leader is open to this appr lets discuss pointers that can help you maximize martech solutions.
Evaluate technical skills department-wide
Before making any decisions about reducing staff or technology, it’s wiser to start by assessing the skills of the marketing team. This can be accomplished through surveys, interviews with employees, or by bringing in an external auditor.
It’s important to know who is proficient in using which technology and tools within the team. This understanding helps in distinguishing between necessary tools and personnel and those that are expendable.
This assessment shouldn’t be restricted to just the operations team; it should encompass the entire department. Since everyone utilizes tools, it’s essential to evaluate everyone’s proficiency in using them effectively.
Dig deeper: HubSpot vs. Marketo: Which Marketing Automation Tool is Right for You?
Provide training and support for current technology
Many technology vendors often observe that the majority of their customers utilize only a small fraction of the features and capabilities offered by their tools. Why does this happen? I believe it’s because Marketing Operations (MOps) teams often lack clear direction, trust, or sufficient time to fully explore the capabilities of their marketing technology stack.
MOps teams are typically tasked with quickly evaluating, implementing, and executing marketing technology solutions. However, they often do not have enough time to thoroughly master these tools or adequately train others to use them effectively. As a result, they may only scratch the surface of what the tools can truly offer, leading to underutilization of their full potential.
If the Chief Marketing Officer (CMO) clearly communicates that a key priority for the department is for everyone to become proficient in using the tools within the martech stack, I am highly optimistic that results will see improvement. This focus on learning the tools can lead to enhanced efficiency and productivity across the board.
Dig deeper: 4 ways to get more value from your martech investments
Optimizing Your MarTech Solutions Services Contracts
Negotiating Martech solution services contracts should be a straightforward task, yet some individuals excel at it more than others, resulting in many companies leaving money on the table. Fortunately, several companies are open to negotiation to retain you as a customer and even extend your usage within their platform.
One effective strategy is to enlist the assistance of a partner to guide you through the negotiation process and guarantee you secure the most favorable deal. Partners possess the expertise and industry relationships necessary to negotiate better terms on your behalf.
Evaluate vendor contracts
In situations where leaders are striving to do more with less, they often contemplate canceling vendor contracts as a cost-cutting measure. Alternatively, they might switch from a more expensive vendor to a cheaper one, which could require significant internal change management efforts, consuming a considerable amount of time.
Conversely, leaders who prioritize “getting more value out of what we have” will opt to renegotiate current vendor contracts. They do this either to reduce costs while maintaining the same features and functions or to obtain additional features and functions for the same price.
Achieving cost savings while maintaining or increasing functionality represents significant victories. However, in both cases, the team must still dedicate time and resources to learning and effectively using the tools.
In 2024, as leaders face mounting business pressures, making the most of existing resources is a savvy strategy. Rather than spending more money, investing in additional training and features to maximize the value of current tools is a prudent approach.
Dig deeper: Unlocking Business Growth: The Power of Marketing Automation with Mountainise
Utilizing External Resources for MarTech Solution Services
Incorporating external resources, such as consultants or specialized agencies, not only alleviates the costs associated with in-house hiring and training for Martech Solution services but also offers a myriad of additional benefits.
By leveraging the expertise of external professionals, you gain access to their in-depth knowledge of various tools and platforms, mitigating the risk of underutilizing your investments. Moreover, these experts bring fresh perspectives to the table and can assist in upskilling your existing team by providing tailored training and implementing efficient processes.
Furthermore, external resources play a vital role in ensuring continuity and seamless information transfer, particularly in the face of employee turnover. This ensures consistency in your technology strategy, even amidst organizational restructuring or transitions.
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