Uploaded byJosh Hill
Martech Maturity Model - An Adoption Guide
The document discusses the evolving challenges and priorities in marketing technology (martech), highlighting that many implementations fail due to lack of alignment, training, and proper tool utilization among teams. A Martech maturity model is presented, outlining stages of development, from marketing transformation to predictive tools, emphasizing the importance of achieving alignment before selecting tools and managing expectations about revenue within initial years. Survey results indicate that while revenue and lead generation are top priorities, a significant percentage of marketers lack the necessary metrics and skills for effective decision-making.
In this document
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Introduction to the Martech Maturity Model™ by Josh Hill for December 2016.
Explores reasons for failure in martech stacks: high expectations, IT mentality, untrained staff, integration issues, and misalignment with business processes.
Discusses marketers' priorities focusing on revenue and leads while noting decreased emphasis on marketing efficiency through surveys.
Highlights the need for better decision-making metrics among marketers, emphasizing a lack of lifecycle data.
Outlines the journey of adopting marketing technologies, stressing alignment, expectation management, and partnerships.
Details six stages in the Martech Maturity Model from transformation to predictive tools, discussing ROI and training challenges.
Examines the importance of readiness in ABM and predictive tools, noting the need for alignment and continuous development.
Encourages sharing of the presentation and connects with the audience through social media.
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Martech Maturity Model - An Adoption Guide
- 1. THE MARTECH MATURITY MODEL™ December2016 Update Josh Hill MarketingRockstarGuides.com
- 2. Why are manymartech stacks and implementations seen as failures?
- 3. High Expectations “It willalign us and increase revenue! Just turn it on!”
- 4. CMO and CIOtreat it like an IT Project It is not.
- 5. Not using allthe features.
- 6. Staff is untrained Staffisn’t on board with the system’s concepts
- 7.
- 8. Teams not alignedon the business process (Strategy!)
- 9. Business growth stage Isthis really the right system now and in the next year?
- 10. In just oneyear, full use of stack up to 54%...? © 2016 Josh Hill marketingrockstarguides.com Source: Ascend2 Marketing Technology Survey Aug 2015, Oct 2016
- 11. More revenue andmore leads are still the priorities for marketers Source: Ascend2 Marketing Technology Survey Aug 2015, Oct 2016© 2016 Josh Hill marketingrockstarguides.com • 2016 did not ask all the same questions. • Marketing efficiency actually less important now, while Revenue and Lead Gen even more important than last year. LeadMD in 2016 show 4% have Predictive. Ascend2 2015 said 13% thought it was a priority… Vendor thought: • Winners need to hit one or both of these priorities quickly. Realize your firm’s vision for clients or face churn.
- 12. LeadMD: marketers’ prioritiesare slightly different Source: LeadMD, Oct 2016: https://www.leadmd.com/resource/2016-marketing-maturity-benchmark-report/ 92% Qualified Leads 66% Pipeline velocity 42% Campaign attribution
- 13. Better decisions, nottools are what marketers want Source: Ascend2 Marketing Technology Survey Aug 2015, Oct 2016 52% 50% More revenue More leads 13% Want predictive tools © 2016 Josh Hill marketingrockstarguides.com 57% 56% More revenue More leads 33% Improve business decisions 2015 2016
- 14. Yet marketers lackthe metrics to make those decisions. Source: LeadMD, Oct 2016: https://www.leadmd.com/resource/2016-marketing-maturity-benchmark-report/ 38% No lifecycle data 45% Some lifecycle data 17% Full lead lifecycle Innovators Early Adopters Early Majority Late Majority Laggards
- 15. This is ajourney. Good journeys take time. • Achieve alignment before tool selection • Achieve alignment before tool selection • Do not expect predictable revenue in first 12-24 months. • Expect mistakes in choices of tools. • Find good partners internally and externally. © 2015-16 Josh Hill MarketingRockstarGuides.com© 2016 Josh Hill marketingrockstarguides.com
- 16. THE MARTECH MATURITY MODEL™ Successone step at a time
- 17. Stage 0: MarketingTransformation Stage 1: Automation Stage 2: Lead Quality Management 0 Month 12 Month 18 Month 24 Month 36 Stage 6: Predictive Tools The Martech Maturity Model™ Stage 3: Nurturing and Sales Context Stage 4: Funnel Visibility Stage 5: Attribution and Allocation © 2016 Josh Hill marketingrockstarguides.com
- 18. Stage 0: MarketingTransformation Stage 1: Automation Stage 2: Lead Quality Management 0 Month 12 Month 18 Month 24 Month 36 Stage 6: Predictive Tools Building capability is hard work Moving from Stage 0 to 1 and 2 offer the largest obvious ROI. 55% of marketers say they are “improving marginally” (Ascend2) 82% missing or have flawed Buyer Journey (LeadMD) 17% of LeadMD respondents here; 9 to 16% here in 2015 Ascend2. 4% using Predictive (LeadMD) Stage 3: Nurturing and Sales Context Stage 4: Funnel Visibility Stage 5: Attribution and Allocation Source: Ascend2 Marketing Technology Survey Aug 2015; LeadMD Survey Oct 2016.© 2015-2016 Josh Hill marketingrockstarguides.com 34% of LeadMD respondents looking at influenced Opps/Won 37% of LeadMD respondents are here.
- 19. Only 8% ofrespondents thought training was a high priority in 2017
- 20. Stage 0: MarketingTransformation Stage 1: Automation Stage 2: Lead Quality Management 0 Month 12 Month 18 Month 24 Month 36 Stage 6: Predictive Tools Staff skill levels are on the adoption curve, lagging behind the vision of vendors. 42% of respondents above avg+ on Content Marketing. 27% said they were new to MA skills Only 3% of LeadMD respondents said they are at a “nirvana” skill level with marketing automation. Where does that put their firm? Stage 3: Nurturing and Sales Context Stage 4: Funnel Visibility Stage 5: Attribution and Allocation Survey Source: LeadMD Survey Oct 2016.© 2015-2016 Josh Hill marketingrockstarguides.com 52% say they are avg or below with skills 18% say they are above avg skills
- 21. Stage 0: MarketingTransformation Stage 1: Automation Stage 2: Lead Quality Management Stage 3: Nurturing and Sales Context Stage 4: Funnel Visibility Stage 5: Attribution and Allocation 0 Month 12 Month 18 Month 24 Month 36 Stage 6: Predictive Tools What about ABM? ABM and Predictive cannot help here since the Team isn’t ready (nor the systems) Add Plays and build up data set for Predictive ABM range Depends on Dataset and Organizational capability. Lead people to the Commercial Insight Improve visibility of which Story works, who it works on; where those people are. Continuous practice and alignment – ABM will require TRULY TIGHT alignment © 2016 Josh Hill marketingrockstarguides.com
- 22. Stage 0: MarketingTransformation Stage 1: Automation Stage 2: Lead Quality Management Stage 3: Nurturing and Sales Context Stage 4: Funnel Visibility Stage 5: Attribution and Allocation 0 Month 12 Month 18 Month 24 Month 36 Stage 6: Predictive Tools Stage development is a continuous effort ABM range © 2016 Josh Hill marketingrockstarguides.com 36% of respondents desired better sales-marketing alignment, but 73% thought Sales believed MQLs were below average. Lead quality was #1 priority. (LeadMD) Clearly some disconnect with alignment at many firms. Survey Source: LeadMD Oct 2016.
- 23. DID YOU ENJOY?SHARE! Slideshare.net/jdavidhill @jdavidhill hello@marketingrockstarguides.com
Editor's Notes
- #2 http://www.mintigo.com/webinar-how-to-build-a-predictable-abm-engine
- #3 It’s not always what you think. 60% figure is floating out there, although there is zero data to prove this. And I bet this is entirely perception rather than HARD failure where you kill it all. 60% of stats are made up on the spot.
- #4 Sometimes this is people believing the vendor too much. Lack of understanding of what it means to build out a system as well as the other pieces.
- #11 Tremendous increase in reported use of stack, but it’s still split. 31% use it, but need more, while 15% need more and don’t use it fully. http://chiefmartec.com/2016/10/marketing-technology-utilization-takes-major-swing-upward/
- #13 https://www.leadmd.com/resource/2016-marketing-maturity-benchmark-report/
- #15 https://www.leadmd.com/resource/2016-marketing-maturity-benchmark-report/
- #16 Thus, this again supports my advice to CMOs: understand your marketing strategy and firm first, then hire the right team (or agency) to help implement the technical side well. Is it better to spend $50,000 this year to set up success for the next three years, or to spend $15,000 today for a poor implementation that means $70,000 in software fees are flushed away?
- #18 Distances are not exact; stages may overlap as projects and skills reach operational efficiencies; Time to complete or success will differ by company.
- #19 You could argue that the ROI may dip at Stages 2 and 3 and 4 because you end up needing more tools and often more people to manage tools, content, testing, etc.
- #20 Can you achieve the vision if the staff isn’t capable of building it?
- #21 You could argue that the ROI may dip at Stages 2 and 3 and 4 because you end up needing more tools and often more people to manage tools, content, testing, etc.
- #22 ABM is possible after Stage 1. Earlier is just Target Accounts