Do you know how much you’re spending on your marketing tech stack? If you haven’t recently done a tech spending audit, you might be surprised. The newest solutions may seem cool and have tons of promise, but soon you’ll be left wondering where your precious marketing dollars are going.
Enter tech-debt. Companies come down with this problem when the tech and supporting tools they’ve invested in aren’t delivering the functionality needed in a budget-friendly way. Sometimes it’s not a problem you’ve created, but one inherited through mergers and acquisitions.
Evaluate your technology choices. First, list all the tools you use and ALL their features, even the ones you’re not using.The providers may have added features since you first subscribed, so it’s good to explore their latest services in your tech audit.
Why are you not using any given the features?Is there a good reason, like their version isn’t as functional as this other tool or provider you are using?
When you do this audit, you’ll see if providers are offering similar features, giving insights into who you might be able to cut loose and where to add to your subscription package.
What can you do moving forward to prevent or eliminate tech-debt?
Every business needs technology: your marketing team, your property managers on the ground, your back office, your IT guys, brokers, etc. Get these teams talking to each other, especially in the same room with the IT people. Your project development team may see one tool as superior functionality, but IT might have problems with how it integrates into another tech product.
Have your business plan in hand for three, five, and ten years out. What tech tools and support will you need to foster this growth?
A key reason a tech product or service isn’t used is the lack of proper training. When people don’t know a feature exists or how to use it, they won’t.
When a new technology product or service provider is being considered, it’s vital to get the actual feedback of the people who are going to use it. Not only do you get their buy-in, but they have a different way of looking at the functionality compared to an IT person or the CEO.
Every tech product or service you buy into needs a specific reason. Its adoption must fit into your priorities. Are you trying to deliver better customer service? Win more leads? Get your message in front of the right stakeholders? There may be some trading off of services.
Single-solution companies and products can be a great idea. Their implementation may take longer, but the trade-off is you’re working with one brand and one company.
Why spend on various tools when you could outsource it to an experienced provider who probably has access to the best tools in the business? For example, ATYPICAL already subscribes to the best marketing and sales tools in our work to support client campaigns and marketing strategies. Plus, they get a dedicated account manager to work with on their needs.
With the right on-boarding process, purpose, and selection, you can avoid tech debt and spend those valuable marketing dollars on generating clients and needs.