Strategies for a Lean and Mean B2B MarTech Stack

Let’s face it. As Marketers, we are spoiled-rotten with marketing technology options. Like the kids in Willy Wonka’s Chocolate Factory, we seem to want more and more goodies.

As of 2023, there are 11,038 martech tools available to us (Source: Chiefmartec). And the sales reps from these tech companies seem to have our number. Our inboxes are filled with tempting offers.

All of this noise is not helping you to build a system that is efficient, scalable, and forward-looking.

The solution? We suggest conducting regular MarTech audits to manage the chaos.

A Compelling Case for MarTech Audits

Audits ensure your technology aligns with business goals and maintains efficiency and compliance. Regular evaluations boost marketing agility, success, and effectiveness. Here are key reasons why regular MarTech audits are crucial for maintaining an effective and aligned marketing strategy:

• Audits provide an opportunity to reassess goals, evaluate the performance and redundancy of existing tools, and identify new technologies that may better align with evolving business needs.
• If your organization undergoes significant changes such as mergers, acquisitions, or shifts in business strategy, it may be necessary to conduct more frequent audits to ensure that the MarTech stack continues to support the company's objectives.
• Some marketing technologies evolve rapidly, while others have longer life cycles. Regular audits help ensure that the technologies in use remain relevant and secure, and are still meeting the desired outcomes.
• Security and compliance standards change over time. Regular audits help organizations ensure that their MarTech stack remains in compliance with relevant regulations and security best practices.
• The MarTech landscape is dynamic, with new technologies continually emerging. Regular audits provide the opportunity to evaluate and incorporate innovative solutions that may enhance marketing capabilities.
• Given the importance of data in marketing, audits should also assess the effectiveness of data governance practices within the MarTech stack. This includes data quality, privacy, and compliance.
• With changes in business processes or the introduction of new tools, it's essential to ensure that the MarTech stack remains well-integrated and compatible. Audits help identify and address any integration needs and challenges. As technology advances, pre-built integrations, and all-in-one suites rapidly emerge to boost productivity and reduce total cost of ownership.
• Regular audits can help in planning and implementing training programs to ensure optimal tool utilization.
• Lastly, annual audits help in aligning MarTech expenditures with overall budgeting cycles. It allows organizations to reassess the ROI of existing tools and allocate resources effectively for the upcoming year.

With 63% of marketers noting that redundant apps don't contribute to—or in some cases even decrease ROI—it becomes important to focus on tools that provide measurable benefits.

Hopefully this information gives you the ammunition you need to develop your business case for annual MarTech audits.

As you work on refining your MarTech stack, keep one crucial aspect in mind: the human impact of technological changes. It's essential to invest in fostering a culture that embraces continuous adaptation. This means dedicating resources to nurture talent that is skilled and comfortable with adopting new technologies.

Expect some initial grumbling when discussing the retirement of legacy technology and implementing new systems. Some tips to consider:

• Communicate benefits clearly and select enthusiastic change champions to rally the troops.
• Guide users over the adoption hurdles with ample training and support.
• Reinforce positive progress while addressing lingering issues head-on.
• Most importantly, put people first—don't make change management an afterthought.