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The truth is, startups tend to be riskier. Note, I said riskier market leaders can fail too). But, by the numbers, only 10% of startups make it, so there's always the concern that the company will fold. And what will happen if it does? Pushing all your data to a Cloud technology startup only to find out it's filing for bankruptcy and you have 48 hours to get all your data out of there... is inconvenient, to say the least.
On the flip side, startups do have their advantages. For one thing, they're much more likely to adjust and update product road maps to meet your specific needs. We can't say the same about some of the huge SaaS empires out there. And the obvious reason you might choose an "off brand" martech solution is, simply, that they tend to be cheaper.
So, balance risk and reward. Where can you afford to go cheap? Where should you dish out a little extra money?
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This brief set of questions is designed to help you evaluate the suitability of a Salesforce.com (SFDC) consultancy. It isn't to be used as a questionnaire for the consultancy to fill out in the RFP. Instead, use the questions conversationally so you can see their flinches and know where to probe.
Since client requirements vary, there's no single "correct" set of answers to these questions. Instead, score the vendors on how closely they fit your organizational needs and corporate IT style—and no firm is going to get a perfect score (be happy if you find a “solid B+”).
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Customer Insights (CI) professionals and marketers have managed relationships with their MSPs for decades to execute conventional direct marketing campaigns. While the classic database marketing business won’t dry up any time soon, the CI pros and marketers who manage these vendor relationships are grappling with:
>> A new generation of highly empowered audiences in the Age Of The Customer.
>> An increasingly complex enterprise marketing technology portfolio.
>> The reality of Big Data and its big meaning to marketing.
>> Fueling digital marketing with digital intelligence.
>> Exploiting the power of customer context to drive unprecedented levels of customer engagement.
Marketing agencies and services providers are all trying to position themselves as the one partner who can help you manage this complexity. But let’s face it, a lot of the noise out there sounds a lot like a classic “all things to all people” message. The fact is, the marketing services space will remain a bit chaotic for the foreseeable future.
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Digest...
When assessing potential tech products and services, a set of important criteria should be used. This is what we call business value alignment (BVA) and it’s something that can be done early in the research process, before too much precious time is invested on budget-scoping, assessing and implementing a misaligned solution. BVA refers to the business value created for both the buyer and the prospective marketing tech solution provider. To arrive at a mutually beneficial BVA, CMOs and marketers should keep the following five steps in mind: - Identify Basic Needs and Requirements
- Create a Blueprint: One of the most effective ways to illustrate BVA is to create a marketing technology blueprint. This is a simple visual diagram that outlines the current technology, systems, processes and data flow, making it easier to identify the gaps, overlaps and chokepoints. The blueprint shows where to improve, bring in new solutions or consolidate existing processes or technology to achieve desired goals.
- Develop Discussion Points: Give the prospective vendors a list of key goals and ideas in advance to make this an optimal working session. These topics often unveil new insights about the prospective providers, including their culture, how they think and how they work.
- Scope a Proof of Concept AND a Full Adoption Model: The ultimate BVA test is to put the technology or service to work in the true environment. In addition, sketch out what full adoption will look like as this will help the solution eventually scale.
- Determine Joint Success Metrics: Ask the internal team and stakeholders what success should look like in one month, a quarter or at the end of the first year. What are the key results to measure ROI?
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Excerpt...
Full-service solution providers offer a variety of services designed to help businesses run more efficiently. To distinguish themselves from one another, they often partner with specific brands that focus on a particular facet of the business process. There’s no end to the variety of services these types of vendors can represent, including: -- > Customer acquisition and customer relationship management (CRM) -- > Web design and development -- > Email marketing -- > Social media marketing -- > Mobile application development Such solution providers offer marketing automation support, and often provide training and consultation for their service areas as well, so businesses can focus on their own industry rather than having to develop expertise in entirely new areas. The full-service provider can have many other distinguishing factors in addition to their choice of partners. Some serve niche markets like open source, and many choose to distinguish themselves through outside activities, like offering business advice to new clients or by targeting specific audiences, like VCs. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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There are 7 executives typically involved in technology buying decisions in the US, according to results from a Text100 survey [download page] conducted with 1,900 respondents in 8 countries – USA, UK, Canada, France, Germany, Spain, India and China. Across all 8 countries, the average number of executives involved in a tech buying decision was 6; the US was found to not be slightly above that average, but to also have a greater number of managing directors, CEOs and business owners involved.
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Intermediate/ Excerpt...
Different companies use the same terminology to mean different things. For example, Act|On calls itself a marketing automation platform (and it is), however it is also an outbound-only automation platform. Hubspot also calls itself a marketing automation platform, however it’s an inbound-only automation platform. They both call themselves marketing automation platforms, yet they are almost opposites in philosophy, and how they work to bring your new customers. To further complicate things, there are providers who are neither inbound or outbound, and simply rely on you having an existing steady stream of leads that they’ll help you nurture and score so you or your sales team can be more efficient by only engaging with those most interested in your product or service. __________________________________ ► NEW: iNeoMarketing makes content marketing easy with the new Q8 Content. Q8 fills your content pipeline daily with relevant articles that your audience wants to read. Learn more and sign up for the beta program: http://www.Q8content.com. ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Compare Marketing Software: Pardot Marketing Automation Professional vs Eloqua Enterprise vs Marketo Select vs HubSpot Enterprise. In this side by side comparison, find features which are most important for you to make the best decision. __________________________________ ► NEW: iNeoMarketing makes content marketing easy with the new Q8 Content. Q8 fills your content pipeline daily with relevant articles that your audience wants to read. Learn more and sign up for the beta program: http://www.Q8content.com. ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Marketers are trying to figure out what to do with their customers now that marketing is the "first line of conversation." And technology enablers are starting to feel the heat and respond to it.
Summary...
Marketing departments are at the forefront of strategic technology investment – at least you would think that if you agree with Gartner’s now famous (apparently defensible) declaration that CMOs will have more budgetary authority then CIOs when it comes to technology buys in the near future. The corollary is that marketing is also the hottest area when it comes to customer facing (e.g. social CRM and social media) technology purchasing and strategies. Thus, software and services clearly labeled social marketing are incorporated at least in concept with the more traditional tools like campaign management, email marketing, and for the larger ventures, marketing resource management among many other options.
Watchlisters... Aprimo Eloqua Hubspot Infusionsoft Marketo Neolane
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Here’s a suggested 9 step approach to choosing the right MAP for your organization. From Marketo… Step #1: Write down your goals for the project Step #2: Plan your timeline Step #3: Identify your requirements - Review your administrative, integration, and technical requirements. What other technologies do you have that the system will need to work with? What level of integration do you need for your CRM—are leads and contacts only okay, or do you also need opportunities, custom objects, and so on?
- Review our mega-list of marketing automation features. Verify you’ll get what you need today – and what you’ll want in the future.
- Isolate requirements beyond technology. Who will use the system? How important is ease of use? What level of additional services, training, and support will you need? What it your organization’s maturity when it comes to things like process, skills, lead flow, and content — will you need additional help to get those into shape?
- Turn the requirements into functional “scenarios.” Describe real-world marketing programs and processes you want to be able to run initially, and down the road.
Step #4: Assemble a team to choose and manage the solution Make sure you cover both bases by getting sign-off from all stakeholders on goals, requirements, and potential scenarios—even Sales and IT. Step #5: Evaluate potential vendors against your scenarios You’ll choose the vendor that best suits your needs if you follow these recommendations below: - Select vendors to evaluate. Ask each one to demonstrate how they would deliver your specific processes and scenarios. Alternatively, ask for a free trial of the solution being considered.
- Scour the technology. Check all boxes to cover your administrative, integration, and technical needs.
- Look beyond the technology. Evaluate each vendor’s ability to make you successful through access to best practices, community, consulting, support, and training.
- Ask tough questions. The vendor shouldn’t have anything to hide. Make sure the vendors actually show you they have what they say they have in terms of functionality.
- Avoid becoming dazzled by features that don’t deliver on your criteria. Focus on the process and business needs you identified in step 3. (That being said, it’s okay to update your goals as you learn about what’s possible. Just make sure it’s compelling enough!)
Step #6: Talk to references Step #7: Make a decision Step #8: Get started - Sync the platform with your CRM system. Alternately, you can load your leads and contacts directly.
- Create email and landing page templates (or have your vendor help with this).
- Set your email deliverability settings, including your DKIM and SPF records.
- Set up your website. Implement DNS mapping for your landing page subdomain. Add tracking codes to your content management system.
- Train your users in the system.
- Build (or import) your first campaigns and programs. Work with your vendor’s enablement and consulting teams for best practices.
- Press go. Then, measure and share the success you’re having.
Step #9: Review, optimize, and improve
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How to Evaluate the Company Behind the Martech Solution (and Why That's Critical) - MarketingProfs
Vendor viability is always a part of the decision-making process. If the marketer has any concerns, then see the IT pros.
This news comes to you compliments of marketingIO.com. #MarTech #DigitalMarketing